I guess the gun is not marked Iver Johnson because IJ didn't make it.
That marking was on the first model Baby Hammerless, made by Columbian in 1896-1897. Later (1897-1916) it was made by Henry Kolb and (1916-1939) by R.F. Sedgley, all of Philadelphia. The trigger is folding; if the spring is broken, it will fall down and flop around. In good condition and functional, those guns have some value, up to around $300. Many won't fire modern brass case ammo, since the hammer spring was made for the softer copper case ammunition.
Patent Pdg, just means Patent Pending. As to selling it, we would have to know what state you are in. You can sell to an FFL licensee in any state, but most dealers don't buy such guns as they can't sell them with no guarantee.
Jim
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