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The correct identification is the .32-20 Hand Ejector Model of 1905 (3rd Change). Undoubtedly you are reading ".32 WINCHESTER CTG" from the barrel, but the gun was made by S&W, not Winchester. That just indicates it is chambered for .32/20. Value is going to be $200-$250

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Q: What is the value of a good condition Smith and Wesson 1909 Patent .32 serial 51265 Mfg by Winchester with 5 inch round barrel SW grip and logos and good condition?
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