Well that just isn’t the case and it didn’t happen, so watch out for those types. Another matter of interest and a point worth bearing in mind is the feature of cylinder engraving on antique Colts. When these scenes do appear on many models, the design was rolled into the steel of the cylinder under very heavy pressure, making an indentation in the surface. Hence, it takes quite an amount of wear to obliterate these designs. When a piece appears that apparently has considerable original finish on most of the gun and yet the cylinder design is worn smooth and cannot be seen, it is also a good time to look it over very closely; chances are there has been some type of alteration to the gun. It is just plain common sense that the blue finish—which is merely a super thin surface-applied coloration—would wear much more quickly than the deep die impressed designs on the metal itself. There is, of course, considerably more to Colt collecting than these few pointers; they are, though, a good start for the uninitiated gun trader!
A little further discussion of finish; blue versus nickel. On Colts, especially with the later cartridge revolvers and automatics, the choice condition specimens (those mint or near mint), will fetch about equal prices for blue or nickel when that finish is normally found and is standard to the piece. When finish shows wear and declines, there then exists a decided value difference. A gun with 70 percent blue finish is considered quite fine and is usually quite appealing to the eye; that very same gun with only 70 percent nickel finish remaining very often has a blemished or spotted appearance and might very well show considerable hard wear as well. From the point of view of original preservation, nickel was by far the sturdier, harder wearing finish; from the point of view of esthetics to the collector, nickel doesn’t quite stack up to the blued guns after it shows some wear. Thus, as a general rule-of-thumb, for guns that are not mint or near mint, blued finish specimens are in somewhat higher demand and more eagerly sought after as they generally have a better appearance. Also, that same blued gun will normally fetch more in price than the same model with an identical percentage of nickel remaining. This principle is certainly not hard and fast, many exceptions exist depending on the individual specimen.
Bore conditions on Colts are often important in establishing or affecting values. This is especially true with later cartridge types of large size and caliber and a number of the cartridge rifles and shotguns. Generally bores do not play an important role in pricing the percussion revolvers, although a very poor or deteriorated bore with a major defect very likely will detract from the price. On the big single and double action cartridge revolvers and especially those in target grades as well as the lever action and pump action rifles, bore is quite important to consider when arriving at value and it should at least match in grade the exterior condition of that piece. In many other instances bore will not affect the value one way or the other, but it most decidedly will influence the desirability for that particular piece on the collector’s market. A number of collectors might immediately rule a piece out unless the bore is fine; likewise there are others who just do not care.
Fancy original factory engraved specimens will be found in every model of Colt. All engraved Colts are desirable and all are considerably more valuable than plain specimens. After that generality, it becomes a new ball game for the collector or dealer trying to evaluate a piece in monetary terms. Considerable care and study should be given before determining same. Fortunately the subject is treated in a number of works and is covered at great depth in the classic The Book of Colt Engraving by R. L. Wilson.
From Colt’s beginnings at Paterson, New Jersey, and continuing through to present day, the Colt factories have employed engravers to work full-time for them decorating arms for special presentation or gift purposes or at the request and order of their customers. Earliest pieces are usually decorated very sparsely with floral and scroll motifs. As the years progressed, designs became more elaborate and lavish. Factory engravers are often unknown; most master engravers are known by name and style. Engraved specimens are usually priced by the model on which these designs and motifs appear. Some are very often encountered like the Model 1849 Pocket revolver and the small 22 caliber “Open Top” spur trigger revolver. Style of engraving and quality are factors influencing value; some patterns are very commonly found while others are rare; extremely deep engraving in which the designs appear to be in high relief is a very rare style as are panels on various parts of the gun in which patriotic motifs or portraits or unusual scenes appear. Original gold or silver inlays are great rarities, seen only on the most elaborate Colt arms. Condition plays a highly important role on engraved guns also. Engraving on the very early pieces, that is, the Paterson series, the Dragoons, Baby Dragoon and Wells Fargo models, are among the least encountered, and hence, some of the more valuable. It is on these fancy engraved specimens of all types that competition and bidding is the keenest. At the very least, and the lowest quality and condition, the presence of engraving will at a minimum double the price. From that point on, it is up to the reader to do some leg work. To be noted and well remembered: In the engraved Colt line some of the most flagrant violations in the ethics of arms collecting are found. Demand has always been so strong and the market so wide for engraved Colts that spurious specimens have been circulating for quite some time, many of them almost beginning to acquire the patina of age! Forewarned is forearmed.
Grips are an important facet of Colt collecting. Usual factory installed grips were walnut; specimens herein are priced for their standard factory installed types. The factory on many occasions, especially on fancy engraved pieces, used more exotic materials such as ivory, pearl or burled and circassian grained wood; a few very rare specimens were even custom stocked with wood from the famed Connecticut Charter Oak tree (some are so marked). Assuming that grips are in good condition, (that is, not broken, chipped, cracked or badly worn) original factory plain, uncarved ivory or pearl grips on smaller specimens are worth a minimum of $75 extra and at a minimum $100 to $175 extra on the large models. On rare models or extremely early models, fancy grips would be worth considerably more. Seemingly minor features such as original checkering on ivory grips—if established as factory work—would bring an added premium. Factory grips bearing high relief carving (usually encountered with patriotic, military or eagle motifs) would immediately place them in the scarce, often rare, category and at least $400 should be added—providing they are in sound condition. Price could be increased considerably depending on elaborateness and quality of carving. Again, a word of caution is offered: Grips should be inspected very closely to determine originality. As prices are high and demand great, these too have brought forth a whole host of spurious specimens.
Early ivory grips are usually one piece; later types appear as one piece but have a wood block in center joining them. Almost all pearl grips are two piece. First use of the gilt medallion with rampant horse trademark, deeply inset in grip, was 1911; after 1920 the medallion was flush with surface.
Cased outfits are often encountered in Colt collecting. It was a common occurrence during the day of their manufacture to sell complete sets. Standard casings normally consisted of: A walnut box with velvet lining over the compartmented type interior; the revolver itself; a number of accessories including a two-cavity bullet mold, a powder flask (often marked “Colt’s Patent,” but not always), a combination screwdriver-nipple wrench, possibly a packet of cartridges and a small canister of percussion caps. Cased sets are most often encountered in the percussion series and are quite scarce in later cartridge models. Most often seen is the Model 1849 Pocket revolver, followed by the Model 1851 Navy. From that point on the scarcity increases noticeably. The earliest revolvers of the Paterson series and those in the Dragoon series are very rare. Generally, the commonest type case, that is, for the 1849 Pocket model, may be worth by itself $1,000 to $2,000, while in the 1851 Navy size, it would be worth, in very fine condition, approximately $3,000 (empty) on the current collector’s market. Occasionally a rare form of case is encountered such as a double size or even a triple size, considered great rarities. Another highly desirable type is the so-called “French Style”, usually made of an elaborately grained, exotic wood, often brass edged and having a lining of plush materials which is recessed in contour shape specially fitted for the specific gun; accessories are usually extra fancy also. Such cases are highly sought after and, depending on their condition, can add considerably to the gun. The collector is cautioned to carefully inspect any Colt case encountered. This has been an especially lucrative area for the unscrupulous for the past 50 years. There are but few general rules-of-thumb