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".
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.
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.
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.
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.
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