This is a 4th Model S&W Pocket DA Revolver in .32 caliber w/ 3" barrel. Antique serial number is in the 106,000 range. Patent dates on the barrel run from 1865 to 1882. As it lacks the 1889 patent date, we can narrow its DOM a bit further to the mid-latter half of the 1880's. It has the desirable and less common blued finish with a nice pair of mother of pearl grips. The pearls look great and fit quite well but are not original to the gun especially with the S&W monograms. My guess here is more than likely, they date to the early part of the 20th century.
Overall Condition Grades to Fine+ using "NRA Antique Guidelines". Metal retains 75% original blue overall. Trigger and hammer show 50% case colors. Front sight and ejector star have 95% of their factory original nickel plating...which is correct on blued S&W DA Pocket revolvers. Excellent markings throughout. Screws and pins are all in nice shape with no signs of abuse. Action cycles correctly in both single and double action modes. Bore is EXCELLENT! Pearl grips are Excellent as well with no chips, cracks, damage, or repairs. Nice example of an early blued S&W DA wearing a great pair of pearls!