Number one, first issue,4th

mxbob · #1 05-06-2012, 03:02 PM

I do not own this gun, owner was referred to me as a S&W guy by a mutual friend. I had never seen one before except in pictures. This one is in exceptionally good condition. I would call it 95% in the method most used today or excellent by the NRA standards. The owner is looking for an evaluation and has said that he will sell it if it is worth enough. I cannot find any of these that have sold recently to base it on. I have the book so know what that says. I would appreciate any input . The silver plating is all there, just tarnished, the blue has a few spots where it is thin mostly on the cylinder with very minor roughness on the barrel. Front sight is slightly bent (see pics) and a small mark on the grip frame and right grip. All markings are good and correct, S/N is 3720, grips match. Any help with value will be appreciated.
Bob Ray 1815

glowe · #2 05-06-2012, 04:38 PM

That is a beautiful early Model One. Make sure and tell the owner not to "clean" the silver-plate. Considering it was probably manufactured in 1859, it is in remarkable condition. Less than 300 of this type was made and it is rare enough that the value could vary greatly, depending on what at least 2 bidders were willing to pay. I would only guess that it would be north of $10,000 at a quality auction. Only thing that could make it better would be an original gutta-percha case. It would be well worth the $50 to get a factory letter from Roy Jinks. It would verify the configuration and add the proper documentation to the gun. Besides the owner might get lucky and find it was sold to someone famous (or infamous). Maybe a Smith or Wesson family member owned it.

DWalt · #3 05-06-2012, 05:32 PM

A second item that would enhance its value would be an original full box of contemporary .22 cartridges for it, but good luck on that. The last time I saw a sale, I think a full cartridge box sold at auction for about $5K.

Masterpiece · #4 05-06-2012, 05:35 PM

Bob,

The "Least" I can say is this Revolver is probably the highest condition S&W No.1 I've seen in many, many years!! Please pass on to the owner that he shouldn't take any action to clean, polish or try to improve upon it's appearance whatsoever!! In other words, "Leave it AS-IS"!! Any action other than what I suggested could very easily take appreciable value away from it if not done correctly!! I agree with glowe that if he does decide to sell this Revolver it should be placed in an auction of one the prominent Gun Auction Houses if possible!! I would suggest Rock Island as my first choice if he decides to take that avenue!! I will also say that without some higher definition photos it's going to be really hard to give an educated assessment of the value!! Although I'm sure it's going to be very high given the one's you've posted here!! Early S&W's in this condition are rarely seen anymore!! As it was mentioned previously, depending on the interest of the bidders involved, this Revolver could sell quite high!! I wouldn't want to even venture a guess at this point in time!! The market for Antique S&W's isn't near what it was in past years, but being as high condition as this is, it has a substantially better chance of bringing a record price than most!! I would also recommend that the Owner request a Factory Letter for his Revolver before proceeding too far into it!! It more than likely is going to "Letter" to an Early S&W Distributor, but maybe luck will be with him & it will "Letter" to an individual which should add interest if the ancestry of the Original Owner can be verified!! Whatever he decides to do I appreciate him letting us take a look at this Very Fine Revolver!!

H Richard · #5 05-06-2012, 07:23 PM

I agree with the other posters, Leave it "As Is". I don't feel qualified to estimate value, but it is substantial. There are several National High Quality Auction houses that can properly handle this. It is definitely over 5 figures. He will realize the most by a well advertised High Quality Auction. Keep us posted.

opoefc · #6 05-07-2012, 04:27 PM

H Richard's estimate of " over 5 figures" is probably a typo. That would put it at $100,000 +. Not likely. The highest sale of this model , a 1st, 1st, 1st ( much rarer than a 1st, 1st, 4th) in recent times was for $40,000. Personally, I would be surprised if this gun reached 5 figures in a good auction, in spite of it's excellent condition. However a good auction house, with national exposure and a printed color catalog, not just an online catalog, is probably the best way to bring the gun to the market, HOWEVER do not accept the standard auction contract, especially Rock Island's. This gun should bring a zero seller's premium if listed at no reserve, so do your homework and Negotiate the contract to the seller's advantage, not the auction house. Having said the above, I would contact David Carroll first, as he may have a potential buyer of 1st Model variations in his "Guns wanted " list for a quick sale at a fair price, w/o waiting months for an auction to be schedules. Good Luck, Ed.

mxbob · #7 05-07-2012, 05:23 PM

Thanks Ed, just asked you on the other forum about this and then come here and see your post here.
Thanks Much
Bob

H Richard · #8 05-07-2012, 07:11 PM

By "over 5 figures" I meant over $10,000. Not 6 figures. It's nice, but not that nice.