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This particular No. 5 features a scarce and highly sought after loading lever. Most of these revolvers were manufactured without a loading lever. This example has the early production three-piece loading lever design which was solely used on this model. John Ehlers was a major stockholder of the Patent Arms Manufacturing Co. who later took over the operation when the company went into bankruptcy. He completed manufacture of the Paterson line of revolvers, and all Fourth and Fifth pistols Ehlers assembled had an attached two piece loading lever. Colt expert and author R.L. Wilson “believed that Colt had developed the idea of attached lever before the company failed. [Colt’s] first lever was of three pieces, which has been observed on Holster pistols only” (“Paterson Colt Pistol Variations,” page 11). The three piece loading lever assembly on this No. 5 is certainly a historically significant piece to Colt’s legacy. The barrel has a German silver front sight blade and is marked “- Patent Arms M’g. Co. Paterson, N.J. - Colt’s Pt. -” reading from the breech to the muzzle with “star & snake” terminals at either end of the roll-stamped legend. The five-shot cylinder is roll engraved with the stagecoach holdup scene and is marked “COLT.” It has a varnished walnut grip. The serial number “715” is on the butt, rear cylinder face, rear face of
CONDITION: Fine. The barrel retains 30% original blue finish and the cylinder retains slight traces of original blue finish; otherwise, the revolver has a classic as found patina with hints of case colors visible on recoil shield with balance silver gray. Much of the cylinder scene remains. The otherwise fine grip also shows true working gun character as it has a vertical crack visible on left panel which has been reglued. Mechanically fine. The No. 5 Texas Paterson is the must have revolver for any Colt collection to be considered complete. Do not miss your opportunity to acquire a seldom encountered Colt icon!
Estimate: 160,000 - 250,000
156 the barrel lug, wedge, and cylinder collar.