I have a few questions.
1. What's the finish? It looks like nickel plate. If so, then are the hammer and trigger still case-hardened or have they also been plated?
2. Where is the lettering of the barrel? It should almost always centered except on some 8 3/8" guns where it was closer to the frame. If it's closer to the muzzle than the frame, then the barrel has almost certainly been cut.
3. What's up with the front sight? It looks like a normal half-moon sight on a 4" barrel, which is odd. Usually people would cut off the front of the barrel, then replaced the front sight with some hillbilly monstrosity. But this one looks like the original sight has either been removed and replaced unmolested, which takes a fair amount of expertise, or it came that way from the factory. If it's factory, then sky's the limit on value.
Okie John