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Colt Police Model 1862

Discussion in 'Firearm Appraisal' started by Julian Palmer, Nov 11, 2017.

  1. I am seeking the approximate value of an antique Colt revolver that has been passed down through 3 generations. This pistol was given to my grandfather around the time of the Depression as payment for medical services. Subsequently handed down to my father who wrote to Colt to get the history. I now have the pistol and the letter from Colt.

    Per inquiry Colt Industries, Colt’s Inc. Firearms Division:
    Police Model 1862, a type made 1861 to 1873. Serial #3318, manufactured c. 1861. Five cylinder, 36 caliber. 3 1/2 inch barrel. Overall length 10".
  2. PaleHawkDown

    PaleHawkDown G&G Evangelist

    Any pictures? Condition is everything.
    chesterwin and jwrauch like this.

  3. Working on it. Should have some later today. Is there a file size restriction?
  4. mauser9

    mauser9 G&G Evangelist

    Looking forward to seeing it. Will check my Blue Book for info. A few variations to say much now. If in decent shape should have some real value. Hey it's a Colt.
    jwrauch likes this.
  5. Colt Inscription.JPG Colt Inscription.JPG Colt Left Side.JPG Colt Letter.JPG Colt Inscription.JPG

    I need the valuation for insurance/will. The pistol has been in the family since early 20th century. Absolutely no intention to sell. I am not opposed for paying a reasonable fee for a written estimate and would appreciate a "ballpark" approximation to decide if it needs a written appraisal.
    Thanks for your time and expertise. Colt Inscription.JPG Colt Left Side.JPG Colt Letter.JPG Colt Right Side.JPG Colt Ser #.JPG
  6. chesterwin

    chesterwin G&G Evangelist

    The value is going to be considerably lower than it would have been if someone hadn't reblued it.
  7. I am not concerned about what it could have been worth if..... I am preparing a will to hand this pistol down to a designated son who appreciates it for what it is. My lawyer insists I determine at least the approximate value. It don’t care whether it’s worth $1 or $1000. It’s not for sale.
  8. runfiverun

    runfiverun G&G Evangelist

    it really needs to be looked at in person and by an expert.
    my initial opinion was/is it has been refinished also.
    it however has some provenance and that will add back to the value.

    the re-work would knock it down to about 25% of it's actual value.
    the owner being in certain battles or doing other work after the war [like being the sec of state etc.] could add back in 50% or double the price of any other one.

    at the very least an antique dealer should look it over.
    chesterwin likes this.
  9. chesterwin

    chesterwin G&G Evangelist

    With an unproven provenance regarding the engraving, you might be in the thousand dollar range. If documentation to the engraved backstrap is found, .as said above, it will increase the value.
  10. PaleHawkDown

    PaleHawkDown G&G Evangelist

    If you are looking for a legal or insurance valuation, the only one that will hold up in court is a valuation with a notarized affidavit of value from an actual expert. You need to find someone local who can look at it in person. There are several odd things that I see on the gun from the pictures which would keep me from even wanting to give a rough estimation.