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LOT 1122
Rare Factory Presentation Inscribed Colt Model 1889 Double Action Revolver
with Pearl Grips and Case Presented to Jesse Seligman - Serial no. 7582, 38 Long
Colt cal., 4 1/2 inch round bbl., nickel finish, pearl grips. Manufactured in 1891, this is an
excellent example of a rare, factory presentation inscribed, Colt Model 1889 revolver.
The factory presentation inscription on the back strap of this revolver reads, “JESSE
SELIGMAN Compliments of Colts P.F.A. Mfg. Co.” Jesse Seligman (1825-1894) was born
in Baiersdorf, Bavaria, and had eight brothers, all of which received an education. In
1840, Seligman followed his brother Joseph in emigrating to America, as his brother
had done two years earlier. He began his career as a general peddler/merchant and in
1849, with the outbreak of the California Gold Rush, traveled west to California, setting
up shop in San Francisco to continue his mercantile business. At the time of the great
San Francisco fire in 1851, it is said that Seligman’s business was established in the
only brick building in town, which managed to survive the fire. This placed him in the
unique position to profit handsomely by having a near monopoly on necessary goods
in the town. Around 1856, Seligman returned to New York, establishing a partnership
with his brothers Joseph and James to import and wholesale cloth and clothing. The
Seligman brothers had become prolific in the wool industry, and with the outbreak of
the Civil War in 1861 they were poised to reap significant profits. The Seligmans secured
massive government contracts and profited handsomely from the war, allowing them
to retire from the cloth trade at the cessation of hostilities. At that point, Seligman
and his brothers established a banking house at No. 21 Broad Street, not far from Wall
Street. All eight of the Seligman brothers were made partners in this new banking
venture, a partnership which endured until the death of Joseph in 1881, and the firm
expanded rapidly during that period. During the presidency of Ulysses Grant, Jesse
Seligman became his banker, and the firm managed to navigate safely through the
financial hardships of the latter 19th century, including the “Black Friday Panic” of 1869.
During the end of the 19th century, the Seligman firm invested massive amounts of
capital into financing the expansion of America’s railroads and profited handsomely.
In 1892, Seligman’s health began to decline, and, in April 1894, he decided to return
to California. He died four days after his arrival in the state which had played a pivotal
role in his amassing a fortune. In the early 20th century, the firm went on to be one of
the largest financial investors in the construction of the Panama Canal, and they were
heavily involved in the formation of both U.S. Standard Oil and General Motors. The
revolver itself has the standard “COLT. D.A. 38” marking on the left of the barrel and
the previously mentioned factory inscription on the back strap along with some small
flourishes of floral scroll engraving. The serial number is marked on the butt, and the
matching assembly number “312” is marked on the frame, crane, and cylinder latch.
The sights are the standard blade and frame-top groove type. It is fitted with a pair of
smooth pearl grips. Includes a leatherette wrapped case with fitted interior lined with
purple velvet.
CONDITION: Excellent, retains 97% plus of the original nickel finish and 95% plus of the
original niter blue on the trigger and hammer with a couple spots of very light flaking
on the lower back strap and the butt. The grips are excellent with only the slightest
handling marks. Mechanically excellent. The case is fine with some moderate handling/
storage wear on the exterior and light interior wear. A chance to own a Colt Model
1889 revolver that was factory presentation inscribed to one of the most prominent
financiers of American industrialization in the 19th century!
Estimate: 7,500 - 12,000
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