TXSshelbyman:
It sounds like you have a .38 Terrier from around 1948, probably one of the first batch produced after World War II. Manufactured on the small I frame, it was eventually replaced in the S&W model line up by the more powerful .38 special Chiefs Special manufactured on the slightly larger J frame.
The Terrier was the snub nosed sibling to the four inch barreled .38 S&W Regulation Police.
Ammunition is available, but it is not cheap and is low powered when compared to the calibers that snubbies are commonly chambered in today.
I'll be able to clarify the age and give you an idea of value tomorrow when I have my reference book available.