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The 4684 on the placard and inside the yoke of the .32 S&W Long (not .32-20, that's the Colt) is an assembly number with no significance after the gun is completed, serialized, and shipped.
The serial number for the S&W is the one on the butt, 543860.
That corresponds to early post-WW II manufacture, even as early as 1946-1947, which agrees with the physical features. Except for the improved hammer block designed during the war, it is not much different from the 3rd model as made since 1917. A nice little gun in unfortunately much worn condition. As you can see, they made a bunch of those little guns, over 800,000 from 1896-1970. Once upon a time, a .32 was considered a serious weapon, good enough for Teddy Roosevelt to arm the NYPD with. That was before antibiotics made a penetrating wound less of a death sentence.
The Colt Police Positive Special .32-20 is in better condition even though older, made in 1922.
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