...and just for fun, the full story is that I was totally bait-and-switched on this one. When he emailed me about it, I asked for a picture, and this is what he sent in reply.

Seems like he tried to pull the wool over your eyes but only managed to shoot himself in the foot. I would not be able to resist sending him the RIA link. Great find!!...and just for fun, the full story is that I was totally bait-and-switched on this one. When he emailed me about it, I asked for a picture, and this is what he sent in reply.
I'm pretty sure they are drilled or punched. The holes are fairly circular, in the same location on each stop, and there is a pronounced rim of rough material inside the cylinder from where the holes are at.Are you sure the holes have been drilled out? I have seen examples where the notches have worn through. A friend of mine had one years ago, but at the time I didn't have the $ for it. And by the way, there are more fake 12 stop's out there than real ones. Not saying yours is, just saying. The # on yours is in the correct early metallic range.
They didn't make many because it was felt the extra notches could cause jamming.
If you study the conversions.(I forget who wrote a great book on them,help me ,guys)...
Funny you should mention that, because that is the exact question I came here to ask. I would like to get this restored, who should I send it to? There is a master smith who lives by me who is actually quite good, but if there is that guy who is THE guy, I'll spend the money to do it right. I imagine that working the action will only further erode the holes and shouldn't be done once it is working, correct?Every now and then, this business makes my day. I just love it when one of us finds a jewel. Go slowly, seek help, READ everything you can find and don't touch it until you are 100% sure. See what the Judge can come up with, his library is extensive. If you are not a master smith don't do the work, hire someone. Q