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I own both but I prefer Smith & Wesson because it's the first cuffs that I ever bought and I've used this brand for so many years. I later was given a pair of Peerless hinge cuffs and they work just fine. They belonged to an officer who was killed in the line of duty. His widow gave me the cuffs after his funeral when she brought his uniforms and gear back to the PD to turn in.
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If they are the Peerless with the exterior locking pin, be careful how you carry them. They can lock accidentally, causing pain to the arrestee and embarrassment to the arrestor.
I also had some after market keys not fit Peerless.
That said, I carry one set, hinged Peerless.
A drawer full of spares, including S&W, Peerless and some old GI.
To me, with a little maintenance and training, one's as good as another.
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I like HWC in stainless more than either. Smith's always were a little stiff feeling to me and I didn't like the double lock as well as the pin type.
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Do NOT use Peerless! My Dept got rid of ALL of them after inmates learned how to disassemble them while wearing them! We use Smith Model 100 only.