Buffed out factory roll markings, and dished out screw holes.
In particular, the Colt Pony logo, and the tiny VP colt proof mark on the frame.
Those are generally very shallow factory markings and usually fall prey to the hi-speed buffer guy doing refinishing.
I would pay particular attention to the barrel, looking for any signs of a ringed or bulged barrel.
An awful lot of 32-20 revolvers will be found with ringed barrels from shooting the old Hi-Vel 32-20 rifle loads of 75 years ago.
As for value?
I'd look on Gunbroker.com and Auctionarms.com for similiar sales recently.
rc