How common are these in actuality? I've seen a figure of 50 to 75, but a fair number have come up at auction recently. The frequency these have come up for auction lately suggests they are not as rare as 50 to 75 produced--unless a collector specialized in these and his collection is slowly trickling to the open market.

The one in the last RIA--I did not look at it closely, but the description of the barrel having the number '10' on it suggests to me the barrel might be a replacement.

Here's the link to it: https://www.rockislandauction.com/de...-with-8-barrel

Now that I look at the listing, I now recall what I didn't like: "The barrel is stamped with the number "10". Matching serial numbers are on the butt and cylinder." This implies that the serial number of the barrel does not match that of the butt and the cylinder, as numbered "10". For $6,900, I can do better...a lot better!

That's one I would not feel confident about, despite your accolades, without going over the serial number on the barrel with RIA experts, to ensure it matches everything else.

Ditto.

I've seen original top break barrels in the white for sale at various points in time ... and while it would take a *lot* to get that to a finished barrel, it's possible.

Without a factory letter, it's highly speculative. Which could pay out ... or not.

Mike

IMHO, a factory letter is a MUST before investing in such interesting and expensive NM3. Seems odd that the auction house does not have one already: it should be the first thing any potential buyer would ask for.

Yes, factory letters are a MUST with these. Not sure why auction houses view such letters nonchalantly. AND, an even bigger mystery: How can bidders blindly bid up so high on one without the safety net of a good factory letter?

I've wondered the same thing myself. But I'm not sure I blame the auction houses as much as I blame the sellers. For a gun selling at four figures (or more) at auction, a factory letter seems like a very small investment.

And for people that belong to both the S&WCA and the S&WHF, the letter is only $75.

Mike

I have a New Model 3 Target with an 8" barrel and all matching numbers that letters. The barrel flat on one side has the SN and the other side has a "0".

Regards