I have bought a few elsies with cut barrels, one was a hammer gun with 25 5/16" barrels. I got it for a decent price so bought it and now this gun has 3 different barrels on it, one 26" Royal Steel that no one wanted because they thought it was cut, but was not.
The other was a Trap Grade 16 gauge with 24 3/4" barrels that was listed for $1400, it did not sell, owner must have realized that they were cut and put it back on for $400 Buy It Now, which I did. Gun originally had 26" barrels and was one of 47 16 gauges made with 26" barrels. It is on a Regular frame and has a 3 position safety and a Curtis for-end release. At the very end of the barrels it still has .014 constriction in both barrels.