This topic has been debated on a number of occassions; and I once read a post where an old-time Smith employee was supposedly quoted as stating that all Smith steel barrels were from the same material regardless of grade (the period in which this guy worked was not noted). In my opinion, such allegation could indeed be fact for later production Smith guns; but certainly was not the case for early Smith guns. How can I prove that opinion? Truth is I can't based on any known metalurgical analysis of different trade-marked/stamped Smith barrel steels; but have formed that opinion from discussions with expert double gunsmiths who tell me that these early barrel steels respond differently to the same slow rust blue process, and some steels actually have a slightly different finished appearance. But after WWII so many Smith guns are seen with various European maker's marks, marks often overstamped with a Smith barrel stamp, who knows what may have composed the steel alloys of those barrel tubes? Certainly this broad statement is not true of Damasucs and Twist tubes, which may be one reason why these patterned tubes remained popular for such a long time; the buyer could actually see that he got what he paid for! By the way, I have never seen a Pigeon grade with London Steel barrels; the Pigeon grade was originally cataloged with only Crown Steel barrels, then Chain Damascus tubes were added as a later option. Later Pigeon guns were offered with a choice of Nitro Steel, or Chain Damascus barrels; and a few examples were special ordered and shipped with more expensive Krupp and Whitworth barrels. With London Steel being a barrel steel offered as standard equipment on Smith guns below Pigeon Grade (actually guns below Grade 2), I would tend to think the barrels on your friends gun have been replaced at some point after original shipment by the gunworks. It is not uncommon to see pre-1913 Smith guns originally fitted with Damascus barrels, those with damaged barrels, and some with a second set of barrels; sporting a set of replacement barrels, or extra barrel set below original grade specifications. Such higher-graded guns are nearly always seen with new barrels carrying Hunter's Armor, or London Steel stamps. As a replacement/extra set of barrels within the same grade retailed at one-half the new retail price of the grade stamped on the gun; and, as the Armor and London steel barrels were quite popular and proven performers, those lower priced barrel steels represented a great savings to the gun owner.