John Hunter ads up to about 1898 depicted and described Smith gun Quality Grades 1, 2, 3, etc.; and these guns were made in conjunction with Hunter's number grades. This was likely part of the Grades transition from the early Syracuse era Quality grades line; and probably because of the great reputation earned by the early LC Smith hammerless guns, which line-up had been heavily advertised, and thus associated by shooters as being offered in various "qualities" according to price. You may, or may not know this factoid but the original invoice survives for the high quality Smith gun featured on the cover of John Houchins book; and that invoice identifies that gun as a Quality 7, "extra gold" and having shipped in 1895.