For a shooter, I would have strongly considered the 1900 1st gen....Becasue it sounds exactly like MY 1901 1st gen...An obvious vintage nickel refnish, heavily buffed with no marking for smokeless, Can barely make out the caliber, no serial on the cylinder, etc...except mine has the horse and dates (although a bit faded on the bottoms)...But mine is 38 wcf...I would have jumped at a 45C if i had the chance. How'd the action feel? 4 good clicks?...Need to see some pics, but I may have bought this one. And then i'd send it to one of our trusted smiths for a good once-over and timing inspection. And based on the smiths recommendation and the serial # being what it is, I would shoot Smokeless cowboy loads only.
1st gen's aint gettin' any younger. Or easier to find. And the prices never seem to drop. $1650 isn't so bad. I'd have low balled him at $1400 just for the fun of it though.