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Your grandfather's Model 30 .32 Hand Ejector was manufactured between the introduction of model numbers in 1957 and the change over to the J frame Model 30-1 in 1961 at serial number 712954,
The gun you are looking at buying is either a .32 Hand Ejector 3rd Model (round butt, serial number on bottom of grip frame) or a .32 Regulation Police (square timber grips, serial number on front strap of grip frame).
Serial range started at 263000 in 1917 & hit 321000 in 1920, then 509000 by 1929. So we can guesstimate the gun you are looking at is from the early 1920s. The large knob on the ejector rod is a 1920s design as well.
In 2006 the Standard Catalog of S&W gave a value of $275 in good condition. If it passes the revolver check out thread stickied in the revolver sub forum then it sounds like a good buy.
Your grandfathers gun has the modern internal hammer block safety and heat treated cylinder.
The gun you are looking at buying has the heat treated cylinder and should be safe to shoot with any commercial load. It lacks the modern hammer block and if dropped could fire. If you buy it and keep it loaded leave the chamber under the hammer empty.
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