Ser. # 48 has been around in several collections for a few years and was just sold at the recent RIA auction. Factory letters for Model 2 Armies tell you very little of a gun's history past when it left the factory. I believe prior owners allege a Civil War history, which is likely, given it's early Civil War era shipping. Nice early gun. Survival rates of 19th century American firearms usually run about 5% to 10% of production. The Model 2 Army's rate is much higher, as serial numbers 1,2,5,6,7,8,10,12,20,23,31,32,34,41,45,46,48 & 49 of the first 50 guns, are known to either exist or be in collections - ratio of near 40%. Ed.