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yes and no from what i gather its a early version of a .32s&W but loaded with black powder not the more powerful modern powder . there are a few companies that still sell that kind of ammo but its not as cheap but if you hand load i am sure the cost would be the same as any other 32s&W.

Places that cater to cowboy shooting are a good place to get ammo

There is a thread about where to get ammo posted here
http://www.northwestfirearms.com/handgun-classifieds/41419-iver-johnson-32-revolver-collectable.html#post437186
 
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