This is a very odd gun. By the proofs it is a commercial piece made in the 1920s but the serial number is not consistent with that identification. It is in fantastic condition and from the photos it does not appear to be refinished. I'm pretty sure it hasn't...the markings are way too sharp and exhibit halos and upset metal around the numbers. The toggle train is a mis-match but is in the same condition as the rest of the gun. I can't speak to the story of the origin or history of the gun, but it appears to be as close to factory new as you can get. It is fascinating and I would very much like to see several more detailed photos of the gun. If you took one out of a crate whenever or wherever that might have been, I would expect it to look like this. It might be a fantasy piece, but it sure is a pretty one.