I am interested in buying my first revolver

The 642 is an airweight and only 15 ounces. A stainless j frame is a lot easier to handle.

My Charter Undercover is one one oz heavier (16oz.), and not at all punishing to shoot. Get decent grips that fit.
 
I would suggest maybe the OP should look for an old school stainless Model 60 if that's where his true desire lies. Good clean examples can be found for $500 or so. They really are a lot nicer than either the 642 or the Ruger LCR.

Weight is heavier at 19.5-oz compared to the 14-15-oz of the alloy guns, but the extra few ounces makes for more pleasant practice with less felt recoul, and the size of the older J-frames is actually smaller than the LCR or the current J-frames. Also, the stainless steel finish is easy to care for and very durable.

400px-StainlessS%26WModel36.jpg
 
Smith and Wesson 642. It is super simple to carry in the pocket and shoots good. I bought mine slightly used for $350. Deals can be found and I have seen them for less than your wanting to spend new.
 
Ditto what Colt46 said.

For the first revolver, look for a solid, used Colt or S&W that chambers .38 Spec. and spend time at the range. For a concealed carry revolver, a 3" barreled S&W Model 10, 13, 64, or 65 would be a great choice. A K-frame is far more easier to master than a J-frame S&W.

I've started out some ladies or men with smaller hands on a Colt Police Positive Special. They won't hold up to a steady diet of +P ammo like a S&W K-frame or the Colt Official Police, however. The Ruger Security Six revolvers aren't bad, either.
 
After you buy a gun based on price you will regret not buying what you wanted. For carry, a nice new or used model 60 or a used model 36, you will be proud to own for a long time.
 
Brands will play an important part in the price you will pay. If you're tight on money, you're going to have to look at a cheaper brand to make your money go further.

There are some brands that I would not buy. If I was tight on money, I'd look at a used model of a better brand, vs. buying a new gun that is a cheaper brand.

Cheap brands do not hold their value when it comes to re-sale. If you were to buy a Rossi, it will never be worth more than the actual moment you pay for it. It's not going to appreciate in value as the years go by.

Brands like S&W and Colt not only hold their value, they appreciate. Ruger does on a smaller scale, but there's no guarantee.

There's plenty of used S&W's and Colt's out there. Problem is, it's going to cost you. Prices continue to go up and there doesn't seem to be a limit at the moment.

Perhaps a used Ruger would be your best bet for the time being. Educate yourself on them and go shopping for one.
 
This 1985 Taurus has been great. Great trigger and stout enough for my 12 year old to shoot. Pretty sure it is a copy of the famed Model 60. Some Taurus' benefit from reputations holding their prices down. These are good ones and a steal if you can find one.

 
I think that every firearm that I have owned for a reasonable length of time, say ten years or more, could be sold for more than I paid for it - or at least as much. Part of that is inflation, of course, but if I take good care of a firearm I don't expect that it will decrease in value in the long run. And that goes for the inexpensive ones as well. Even my old single shot twelve gauge is currently worth about what my father paid for it originally.
 
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