Colt Lightning?

A Country Boy Can Survive

May 21, 2003 06:46

I was given an old revolver by my Grandfather a couple of years ago. It belonged to my Great-grandfather, and my Grandad thinks he got it in Canada. My Grandad also told me he believes the revolver was made in the early 1900's and that this was the first double action revolver fielded by Colt. The serial number is 1465xx, and all visible numbers match. It also has a couple of patent dates in 1878 on the side of the frame. It is in .38 long colt, and I remember firing this gun as a kid. The revolver seems to be mechanically solid, though I have not fired it nor so do I have any ammunition for it. It locks up TIGHT. This is the 4.5" (approx) barreled version. Condition is pretty good, light pits here and there, and some moderate staining in the bore. Case hardening colors are still quite visible, especially on the right side of the gun. The black rubber grips are in good shape and show almost no wear. I have asked around as to the value of this gun, and have been told everything from $200 up to $1500. I am in the process of getting some additional insurance to cover my gun collection, and I need to put a replacement value on this piece. It is, of course, not actually replaceable to me given the family importance, but I still would like to establish a value. I have a couple digital pics but could not post them here. Thanks! Also, is there anything I can do to remove the little rust stains on the outside without damaging the finish or degrading the value?

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  4wheeler

  May 21, 2003 07:56

  This what my book says about the lightning champered for 38 colt with 4.5 inch barrel with ejector. This is quote for standard variations and if it was made before 1898,it would be more desirable.
  The colt thunderer was champered for .41 caliber. I am not sure if this is quotes for the thunderer or ligthning but this was all that was listed.
  
  excellent----$3000
  very good---$1800
  
  good---$1000
  
  fair---$750
  
  poor---$450
  
  This quote comes from standard firearms catalog 2003 edition. There is a picture of a colt lightning in my book which auctioned for $8,250 and the condition was 40% blue and 95% nickel.
  
  I suggest calling colt and getting the details on this gun.
  
  BTW,there are some great experts on this forum and they will chime in as soon as they see this thread. I am just a novice gun person but I do enjoy learning all I can.
  
  Welcome to the forum!
  
  
  

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  A Country Boy Can Survive

  May 21, 2003 08:23

  Thanks for the reply and the welcome to the forum. I have bought and sold on gunbroker a little, but never registered for the forum until today.
  
  I poked around a little on Colt's website. From my understanding, it would cost me about $75-100 to find out info from Colt? Or is that only if they provide me with a letter?

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  Herschel

  May 21, 2003 08:50

  A Country Boy......, My book shows the date of mfg for your pistol to be 1903. For removing rust without removing finish, put a coat of oil over the rusted area then rub over it with 0000 steel wool. Take your time and be sure to only work on an oiled surface. Steel wool on dry metal will remove the finish. FWIW, Don't work the action too much on the pistol. The springs have a reputation for breaking easily.

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  Iroquois Scout

  May 21, 2003 19:18

  The prices given from 'The Standard Firearms Catalog' seem to be on the high side. My references start at poor $400 to excellent at $2500 and your revolver at somewhere around $750.

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