According to the link from Guns & Ammo Network :
http://www.gunsandammo.com/blogs/history-books/firearms-nicknames/
There are some word that describe average weapons and handguns:
AKAs such as “Heater”, Shooting iron”, “Smoke Pole” and “Persuader” are pretty easy to figure out, as are “Saturday Night Special”
“Saturday Night Special”, “Suicide Special”
“Suicide Special” and “Flyapart”
“Flyapart”, the latter a trio of terms to describe cheaply-made, inexpensive handguns intended for limited, somewhat specialized usage.
Hope it helps you.