I'm certainly not accepting this thing being an original. The finish work on the barrel and the loading lever that are visible are rough to say the least, not something that Colt would put out the door.
From what I can see the trigger guard appears to be nickle plated (I could of couse be wrong), if it is the base metal was very poorly polished as well before plating. Also, am I the only one that thinks that the drag marks on the cylinder are in the wrong place?
All in all it looks like a pretty good project gun and with a little elbow grease would probably clean up pretty nice. Did you buy this or is it just something you came across and if you bought it I'd be interested in how much it was worth just for grins.