Sorry for the small pictures, but I was unsuccessful uploading full resolution pictures (too large)
As DonVoigt first said, I believe it's a pot-metal reproduction - i.e. magnet does not stick to it
The term "spiked" barrel was a reference to the 1800's term for damaging a cannon by driving a spike into the "touch hole" It looked like someone had driven a spike in the barrel, but I now believe DonVoigt correctly pointed out that it was made that way.
It's probably just a paperweight as I first expected. It's condition is not in good enough to be of much value even to a reproduction collector. In fact, the black Bauer Bros. Mfg. holster it came with (in nice shape) is probably worth more than what was inside it...
I want to thank everyone for taking the time to respond to my post to confirming what I first suspected!!!
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