(C&P from another website)
The number designations are as follows:
12/112 or 10/110 - Varmint/Target series ... only drilled and tapped for scope mounts, no open sights, 24" or 26" barrel, blued or stainless depending on specific variation
11/111 - Hunter series ... open sights & drilled and tapped for scope mounts, 22" or 24" barrel, blued only
110/111xxXP3 - Package series ... no sights, comes with 3-9x32 scope mounted, 22" or 24" barrel, blued only, wood stock/leather sling installed or synthetic stock/nylon sling installed
16/116 - Weather Warrior series ... no sights, only drilled and tapped for scope mounts, 22", 24" or 26" barrel, stainless steel only
The letter codes are what determines the "specific's" of the rifle...here is the list:
AK -Adjustable Muzzle Brake
B -Laminate Stock
C -Clip (Detachable Box Mag.)
F -Synthetic Stock
G -Hardwood Stock
L -Left Hand
LE -Law Enforcement
ML -Muzzleloader
NS -No Sights
P -Police
SE -Safari Express
SS -Stainless Steel
U -Ultra High Lustre
V -Long Range (Heavy Barrel)
XP -Package Gun
Y -Youth
Hope this helps!
ADDED:
In 2002 Savage offered rifles in the Winchester Short Magnum (WSM) and Remington Ultra Magnum (RUM) calibers. When these were finally in the catalog, there was a change made to the barrel shank diameter. Standard barrel shank diameter on standard calibers are 1.055" x 20tpi. On the new WSM, RUM, and SAUM calibers it is 1.120" x 20tpi. The barrel nut is also bigger in internal size, but is the same outer diameter and our barrel nut wrench will still fit. Savage also used this size of shank on the first version of the Model 10ML muzzleloader.
However, there were a few WSM and RUM rifles made on the standard barrel shank in the first production run. The best way to tell is to measure the barrel shank right against the nut. The larger barrel shank will have a step down approximately 1/8" ahead of the barrel nut. If your rifle has a serial number with a "G" prefix, it is most probable it will have the larger shank.
I have a 110 in .270 Win and 111F in .300 Win Mag, with the exception of the bolt handles, they are visually identical. Work closely with your gunsmith ... your gunsmith can provide you advice to better suit your needs.
Good luck!