Gen 1 Colt Peacemaker?- If so, what's it worth?

[apowell]

I'll start off with this revolver is not for sale, since my Dad bought and shot it when he was young and passed it along to me, but I would like to know what it is worth (give or take a little).

It appears to me to be a Gen 1 Colt Peacemaker.
It is about 10" long from the tip of the barrel to the back of the grip.
It has the following markings:

pony on both sides of the plastic grips (one side has a crack but they are still in one piece).

"45 Colt" on the side of the barrel

"Colt's ?? B.A MFG Co
Hartford CT USA" on the top of the barrel (?? are unreadable impressions)

"PAT.SEP.19.1871
JULY 2.72.JAN 19.75" followed by the pony on the frame below the cylinder

Matching Serial Number in 3 places 1603XX (no SA before or after the SN in any location)

It has some scratches and some finish wear and the blueing looks "textured" in the depressions in the cylinder. It has seen it's share of work and was never a display piece.

Also is it something that could be shot with proper ammo or should it just be locked away?

Any info you can provide would be great. I figure it is probably the most expensive gun I have, but I'd like to know by how much for insurance purposes, etc...

Thanks,

 

[Jim Watson]

Made 1895, Colt did not proof for smokeless powder until 1900.
Undoubtedly your Dad shot it with standard smokeless ammo (unless you are a good deal older than me.) It would probably stand firing with the very mild "cowboy" loads but the risk is all yours.

The pictures make it look like the frame is blue, not color casehardened, which would mean it has been refinished. If so, that takes away a lot of collector interest and dollar value. Still worth a couple thousand dollars, more if not refinished.

 

[SaxonPig]

Well, it looks like a 1G SAA to me but I am no expert. That serial would be from around 1892-1894, I think. Value would depend on condition and that would take a personal examination. My guess (only a guess) would be that it could fetch something around $2,500-$4,000. Maybe more if really clean.

I think Jim is correct about it likely being refinished. In that case make it $1,500-$2,000 or so.

I would not shoot this gun.

 

[Jim K]

Based ONLY on the pictures, it looks like that gun was reblued and probably was heavily used prior to that. One tipoff is that the grips appear to be heavily worn, in contrast to the even blue finish on the gun itself.

Some first generation frames were factory blued, but the standard was case colored, so a blued frame is most likely the result of rebluing.

If it is reblued, and if the gun is otherwise in good condition, I would see no reason not to shoot it with factory level loads. Avoid any "hot" loads, though.

Jim

 

[Vern Humphrey]

Check the timing and lockup. If that's okay, shoot it but stick with "cowboy" loads.

For what it's worth, www.gunbroker.com lists three 1st generation .45 SAAs, with prices ranging from $2,200 to $8,500.

 

[apowell]

Thanks guys. I did check with my Dad and he did have it refinished when he was young. He said the original finish was pretty much gone by then anyway. Knowing this, would it reduce the value any more by having it refinished again? The finish is in pretty bad shape, and I'd like to bring it back into "shootable" condition, and not have to worry about it deteriorating further. I've cleaned it the best I can, but it is in pretty rough shape and probably needs some professional attention. I don't think the inside of the barrel had been cleaned in decades, and it still doesn't look pretty in there.

Thanks again for all your input.

 

[Jim Watson]

If it were mine, I would either
A. Clean it thoroughly and shoot it on ceremonial occasions, keeping it as a family heirloom rather than a musuem piece. If it needs mechanical work, there are a number of good SAA gunsmiths in the CAS field.
B. Have it properly (and expensively) restored to look like new, possibly with a correct looking smokeless cylinder.

I would NOT have it "refinished" by the average gunsmith buff and dip operation.

 

[Grayrock]

Send it to Doug Turnbull Restorations and it will look nicer than it did the day it came out of the factory.

http://turnbullrestoration.com/index.html

 

[OPOEFC]

As has been said, the gun is a first gen. Colt SAA shipped in the early 1890s. It now has zero collector value due to the poor upkeep and the refinishing. Possible shooter value only if shot with mild, and I mean MILD, loads. I buy and sell these all the time and I would estimate $1300 to $1500 as value in present condition, and there's not much you can do to increase that any. I careful cleaning won't hurt it. That's it's intrinsic value, - it's intangible value is as a family heirloom, and that is priceless. I have family guns that go back 4 generations, and no amount of money can buy them. They will go to my sons & grandsons. A Doug Turnbull restoration has been suggested. If you have money to burn - OK. A full Turbull job on that gun could run $4000 or more, and it will look like new, but it will lose all the honest wear & appeal and historic ambiance. Ed.