It would be safe to fire it, but it probably would not work the action. Not enough "umph" to push the spring back.
Also, since 38 ACP has been an obsolete cartridge for years (like many old rounds, they quit making them for WW2, and never started back after the war), it would be in the realm of "collector ammo", and undoubtedly worth a bit of money. Why shoot 5-dollar a round pistol ammo, when you could sell it and buy 50-cent a round ammo.
Meddle not in the affairs of dragons, for thou art crunchy, and taste good with catsup - George of Lod, Year of Our Lord 297
I always take precautions.
Beware the Evil Bullet Fairies.