I did not see the original post, and I know very little about the model 56, just what Ive read as I have not seen one in person. I would definetly have him get it lettered before giving any money. If he is reluctant because of the $50 cost, I would offer to pay for the letter, or go ahead and order it yourself if really interested in acquiring it. This is done on Colts all the time before large purchases are made, and you've already got the serial number/info. If he refuses to order the letter with your money, that gives you the answer in itself. I personally would rate the gun about 50%-60%. If the above revolver with original numbered stocks, is 95-97%, then I would think this gun would be worth about 35-40% of that gun IF it letters, jmho. Of course the above gun might be worth more now than what it sold for.