Colt 1st gen. SAA 41
I have a Colt I got at a antique auction estate sale about 20 years ago and I would like to have some imput as to the value, I just know when the gun is old the terms 10% 20% etc. are used and and the differance can be huge, I don't know what group this would fit would it just be graded as a modern gun ? plus as in the pic it must have had a lanyard ? should it be repaired, the action is tight and has NO pitting, most of the guns I see in the $1500 range do, I understand anyone can ask any amount for there gun and my get it also is there a way to see past auctions on Gun broker for the sold price? any info would be great. Also it is in the 172,xxx range all # match. I do not want to sell just some knowledge.
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[img]<a href="http://www.flickr.com/photos/85867130@N05/7868954622/" title="100_3980 (500x371) by bigdogdave57, on Flickr"><img src="http://farm9.staticflickr.com/8292/7868954622_e5092c6c41.jpg" width="500" height="371" alt="100_3980 (500x371)"></a>[/img]
[img]<a href="http://www.flickr.com/photos/85867130@N05/7868960114/" title="100_3986 (500x371) by bigdogdave57, on Flickr"><img src="http://farm8.staticflickr.com/7275/7868960114_5cb14f4567.jpg" width="500" height="371" alt="100_3986 (500x371)"></a>[/img]
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It looks like you have a very nice old Colt. Even better is the fact that it was manufactured in 1897 which legally makes it an antique (no FFL required for transfer).
The hole probably was for a lanyard. I would just leave it alone as any attempt to repair it could hurt the overall value.
Can you please post pics of the barrel & frame markings?

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More Pic's
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[img]<a href="http://www.flickr.com/photos/85867130@N05/7882716904/" title="100_4012 by bigdogdave57, on Flickr"><img src="http://farm8.staticflickr.com/7267/7882716904_9b54da6292.jpg" width="500" height="371" alt="100_4012"></a>[/img]0 -
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You can install a 38-40 cylinder as Colt used the same barrel for both guns. 38-40 ammo is more readily found but Cowboy loads will have lead bullets. Jacketed 38-40 bullets shouldn't be used in the old soft barrels.
This is a black powder gun despite the transverse cylinder pin latch.
Smokeless powder loads should not exceed the original black powder velocities.
I'm surprised more SAAs aren't found with lanyard rings.0 -
Thanks, could you help any on the value ? 0 -
As I stated above, that fact that it's an antique makes it more desirable. The markings look good with the correct 2-line barrel address. Conservatively, I would estimate it to be in the $1,800-$2,300 range and possibly more to someone who wants that caliber for their collection. 
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