Thanks to @Totem Polar for the age on the gun. Hes got it at 1953 based on the serial number.
Another forum member has noted the reason for the price is that it has most likely been refinished.
Apparently the hammer should be case hardened and its blued, he also noted that around the side plate screws the side plate appears recessed a bit. Actuall now Im a bit relieved because I wanted a shooter and hopefully range day will prove that out.
Thanks for all the help and the comments folks.