Colt usually stamped the Rampant Colt on the left side of the frame just below and behind the cylinder release, especially in the pre-war days.
However, Colt on occasion didn't stamp the pony for reasons no one knows. True, most of the unstamped guns were war-time revolvers or models made in the post-war era on budget models.
Without actually seeing the gun it's impossible to say for sure, but my best guess is a re-blue. Due to the intricate and small size of the Pony stamp, they were usually roll stamped rather lightly. Almost any polishing for a re-blue would fade it or remove it entirely.
The best thing to do is look for other signs of a re-blue.
Things to look for:
The wrong color. The 20's and 30's guns were a bright BLUE color produced by heating the parts in steel drums, not a blue-black chemical finish.
Sharp edges rounded off.
Other lettering faded. On pre-war guns the lettering was often shallower, but it was all there.
Signs of pitting, scratching, or dents UNDER the bluing.
Ripples in the flats, or dished out areas around holes or "lumpy" rippled areas on the barrel.
"Off" colors. Even in sunlight the finish should be blue, with no signs or reddish or purple colors even on small parts.
Sides of the hammer blued. Colt always polished the blue off the sides of the hammer to a bare steel finish. Re-blues often left the hammer all blue.