For a better response, I would post this in the Single Action Army section, especially because this is SAA No 7047.
I viewed this entire video and it made me cringe! Perhaps this is acceptable in the museum and historical preservation world, but I would think that is unlikely. If I owned this revolver, I would have been satisfied knowing the cylinder is 7047 and it very well could be that this is revolver 7047. This being for two reasons: the rust obscures the frame numbers and, also, given that only the last 4 digits of the serial number are on the cylinder, it could be No 17047, 37047, etc. If the barrel contains an italic barrel address, than it can only be 7047 or 17047. I would be content with 50/50 odds. (Of course, if not an italic barrel address, then it would be 37047 or above--no Cavalry or Artillery revolvers are in the 20,000 range, so 27047 would not be possible.)
Perhaps this is an acceptable forensic archaeology technique. Does anyone know the stance of such institutions as the Smithsonian. The British Museum, the Victoria & Albert, etc?
Anyone want to take a stab at value?