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The bottom of the frame has a differently shaped ring cocking lever mounted ahead of the trigger guard,
with a unique groove cut section on the bottom of the barrel lug area to accommodate it, and the cylinder
has a rounded back shape and a capping groove on the right of the frame typical of the subsequent No.
2 models. There are also circled “E/LG” Belgian Liege proofs stamped on the right of the barrel and on the
front face of the cylinder, with unknown reasoning as to their origin. The 26 1/8 inch .38 caliber octagon
barrel has a dovetail mounted German silver blade front sight and a dovetail mounted blued “V” notch rear
sight. The barrel wedge is not fitted with a spring, and the barrel lug has a bolster surrounding the wedge.
Right side mounted loading lever on the barrel. The varnished walnut stock has a cheekpiece inlaid with
the Colt four-horse-head trademark in German silver. The top barrel flat is roll-stamped with the legend: “<-
Colt’s Patent >-< Patent Arms Man’g. Co., Paterson, N. Jersey. ->” between the rear sight and the top strap.
The legend has arrow terminals at either end and a border between “Colt’s Patent” and “Patent Arms”. The
cylinder is roll-engraved with the horsemen and centaur deer hunting scene and “COLT” marking. The serial
number “24” is visible on the rear of the cylinder, revolving collar on the cylinder pin, and with “No 24” on
the wedge. The barrel and crescent buttplate are browned and the frame, cylinder, cocking ring lever and
wedge are high polish blue finished. Made in very limited numbers, the No. 1 Ring Lever rifle is one of the
rarest of all Colt firearms.
CONDITION: Exceptionally fine, retains 60% plus original brown finish on the barrel with some thinning, and
30% plus original high polish blue finish strongest on the frame and cocking ring lever, with flaking and
smooth gray patina on the balance, some scattered areas of minor pitting/oxidation, with a visible cylinder
scene and markings. Stock is fine with scattered dings and scratches, spliced replacement sections to the
right of the lower tang and at the toe, some filler on the left of the wrist, a small crack visible to the right
of the lower tang, and defined edges. Cocking ring lever is seated loosely in the closed position, otherwise
mechanically fine. Exceptional Colt No. 1 Ring Lever rifles such as this one rarely surface for public sale, and
are important as the first arms produced by Samuel Colt!
Provenance: The Charles Marx Collection.
Estimate: 45,000 - 70,000
According to "The Book of Colt Firearms" by
Wilson, approximately 200 Colt Paterson No.
1 Ring Lever rifles were produced, and are
significant as the first longarm produced by Colt.