That 1906 is unaltered. Altered 1906 navy's had the "Gesichert" added on the up position, and machined out on the down position. The "Gesichert" is currently under the lever which is correct for an unaltered 1st issue Navy.
The change was made because as you put the gun into the holster, you would dissengage the safety.
That's at least the way I understood it.
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