Mod.46 rail

I have a S&W 46 and am thinking of having it tapped to add a rail to it for a red dot. Will that hurt or help the value? Are there any other options?

Options are to add Clark ribbed barrel. A common addition.

Find a newer smith barrel already tapped.

Value would drop probably only for a smith collector

From Wikipedia on the 41:

3]

Model 46
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In 1957, Smith & Wesson offered a "no frills" version of the Model 41 designated the model 46. In 1959 it was selected by the U.S. Air Force for basic marksmanship training. About 4000 units were made in total: 2500 with a 7-inch barrel, 1000 with 5 inch barrels and 500 5 1/2 inch barrels. The pistol lacked the checkering, polished blue finish, and other refinements of the Model 41. It proved to be a commercial failure with consumers who preferred the more costly Model 41 and production ceased in 1966, according to firearm historian Sam Fadala.[4]

Will it destroy the collectors value? Some, but I would guess that there aren’t that many collectors that either don’t already have a 46 or concentrate on other types of S&W.

Regarding value, adding a rail will likely help its value as a shooter, although do realize that many outside of our sport don't put red dots on pistols.

Yep, any modification to a gun will reduce its collector value.  You said you were going to shoot it? My goodness, that will reduce its collector value too! Seriously.

The model 46 is fairly rare, and hence that is the main driver of any collector value.  I may be ignorant here, but I'm not aware much desirability for it in the collectors circles.  I'm sure there are some out there that want a 46 or already own one, but I haven't seen a large demand for it.

The other large driver of collector value is condition.  Lower than 90-95% and the value drops off pretty fast unless the gun is rare or has documented history (provenance).  So unless its the gun is in near safe queen condition, I'd say its your gun, go ahead and enjoy it.  But go ahead and do a search on gun broker and see what these are selling for.  Perhaps you would want to sell it and buy something else that you are not concerned about modifying?

How about something so old that it might add value?

https://www.gunbroker.com/item/802117193

I appreciate all of the responses. I have the 5" barrel with plastic thumb rest grips. I will look into the extra barrel options. Condition is probably around 80-90%.