Originally Posted by hrf
Welcome to TFF.
If it's the hammerless type and the L is a prefix (L3227) it has to be a black powder .32 S&W caliber made in 1904, the only year an L prefix was used on any model.
I suggest it be retired as use of current smokeless powder ammo will loosen the lockup and possibly do greater damage.
It can be reblued, but cost of a professional job will exceed value of the gun.
The letter L is after the #3227 - does this make a difference?