The Colt Single Action Army, also known as the Colt Peacemaker or Model P, is one of the iconic revolvers of American firearms history. Colt's Manufacturing Company introduced the model in 1873, and its frontier reputation helped give rise to the familiar phrase, “the gun that won the West.”

This page is not a general buying guide or a sales listing. It is a collector’s account of one first-generation Colt SAA, what the Colt Archive revealed about it, and a broader collector guide covering production years, variants, serial-number ranges, known issues, and value trends.

“I learned something very important when I purchased this gun online, and I will share it with you on this page. It may save or earn you hundreds or even thousands of dollars.”

Collector Snapshot

Finish
Nickel
Barrel Length
4.75 inches
Caliber
.45
Grips
Elephant ivory
Revolvers Single Action Colt Pre-WWII

First-Generation Colt SAA Context

The Peacemaker pictured here is a “First Generation” Colt Single Action Army chambered in .45 caliber. In collector terms, first-generation Single Action Armys are those produced from 1873 until wartime production halted in 1941, with the main pre-war serial-number sequence ending at 357859 and without the later “SA” letter suffixes.

All-original, good-condition first-generation Colt SAAs are among the most valued examples for collectors. That is exactly why originality, finish, and documentation matter so much when evaluating one of these revolvers.

Collector note: A gun can look impressive in photographs and still be worth far less than expected if it has been refinished, altered, or represented without proper disclosure.

Production Years and Transition Years

The Colt Single Action Army was adopted during the metallic-cartridge revolver era and entered production in 1873. Collectors usually divide the model into three broad production generations: first generation pre-war guns, second generation post-war revival guns, and third generation/current-production guns. The featured revolver is a first-generation example that shipped in 1931, late enough to be a smokeless-powder-era Colt but early enough to belong to the pre-war production story.

The first generation ran from 1873 until Colt halted SAA production during World War II, with 357859 commonly cited as the final pre-war serial number. A few “pre-war/post-war” Single Action Armys were later assembled from leftover parts, usually in the high 356000 and 357000 serial ranges, which makes those guns a true collector transition area rather than a simple year chart.

PeriodWhat changedCollector meaning
1873 introductionColt introduced the Single Action Army as a .45-caliber service revolver with a 7½-inch barrel and U.S. military markings on contract examples.Earliest U.S.-inspected cavalry revolvers, especially with documented inspector marks, are among the most studied SAA collectibles.
1874-1879 civilian expansionNickel finish appeared early; 5½-inch “Artillery” and 4¾-inch “Civilian” barrel lengths entered the market; .44-40 Frontier Six Shooter models appeared in 1878.Shorter barrels, nickel, ivory or pearl stocks, and .44-40 markings create major collector subcategories.
1882-1900 mechanical and finish-era changesHard-rubber/gutta-percha stocks replaced early walnut on many guns, the base-pin retaining system changed, and Colt later warranted SAAs for smokeless powder around serial 192000.Black-powder-frame versus later smokeless-era features are important transition-year details.
1920s-1941 late first generationSights became more visible in the 1920s, and production slowed before wartime priorities ended regular pre-war production.Late first-generation guns like this 1931 shipment can be attractive when original, but refinishing sharply changes the collector equation.
1955/1956-1975 second generationColt revived the Model P after the Western television boom, using “SA” suffix serial numbers and much of the older production character.Second generation examples have become collectible in their own right, especially early guns, scarce chamberings, boxed guns, and documented special-order examples.
1976 onward third generationProduction resumed after retooling with 800000SA and then later SA-prefix and S-prefix/A-suffix serial formats, along with Custom Shop, commemorative, Sheriff’s, Storekeeper’s, and Buntline variations.Third generation guns are modern Colts, not first-generation antiques; they must be priced and authenticated within their own generation.

Variants, Barrel Lengths, Finishes, Grips and Special Configurations

The Single Action Army is simple in outline but complicated in collector detail. Barrel length, finish, grip material, caliber, military markings, engraving, special sights, and factory documentation can move two similar-looking Peacemakers into completely different value categories.

Barrel lengths The 7½-inch “Cavalry,” 5½-inch “Artillery,” and 4¾-inch “Civilian” lengths are the classic collector terms. Factory non-standard barrels are known, including very short Sheriff’s/Storekeeper’s styles without ejector rods and very long special-order or Buntline-style barrels, but these require careful documentation.
Finishes Standard blue with case-hardened frame is the classic military/civilian look. Nickel appeared early and remains highly desirable when original. Gold, silver, factory engraving, and exhibition-grade finishes can be major-value features when supported by a Colt letter.
Grip types Early walnut, black hard-rubber/eagle stocks, pearl, ivory, stag, and carved presentation stocks all appear in the SAA collector world. Genuine ivory and pearl can add appeal, but non-original replacement stocks should not be confused with factory-shipped grips.
Military and lawman context U.S.-marked cavalry revolvers, Artillery conversions, inspector-cartouched examples, Texas Ranger or lawman provenance, and documented shipment destinations can matter more than cosmetics.
Special models Frontier Six Shooter (.44-40), Bisley, Flattop/Target, New Frontier, Buntline Special, Sheriff’s Model, Storekeeper’s Model, commemoratives, and Colt Custom Shop guns are separate collector conversations.
Rare configurations Factory engraving, unusual calibers, long or short special-order barrels, original nickel, factory ivory or pearl, and documented celebrity or historical provenance demand more proof than ordinary examples.

Serial Number Ranges and Collector-Observed Anchors

Serial numbers are the starting point for any Colt SAA evaluation, but they are not the finish line. Colt’s own public lookup describes its data as approximate and not comprehensive, and vintage Single Action Army records can require a paid archive letter for definitive shipment and configuration details.

Generation / periodApproximate serial-number patternCollector note
First Generation, 1873-1941Plain numeric serials from the beginning of production through 357859No “SA” suffix. This is the main antique/pre-war collector group and the generation of the featured revolver.
Pre-war/post-war leftover assembliesMostly high 356000 and 357000 serial rangesScarce transition examples assembled from leftover parts; authentication is especially important.
Second Generation, 1955/1956-1975SA-suffix format, commonly beginning around 1001SA and ending at 73319SARevival-era Peacemakers with their own collector following; cylinder and serial placement details differ from first-generation guns.
Third Generation, 1976-1978 transition800000SA and related early third-generation numberingEarly third-generation guns can be confused with second-generation examples if judged only by an “SA” suffix.
Later Third Generation / current patternSA-prefix after SA99999, then later S-prefix/A-suffix numbersModern-production and Custom Shop guns should be valued as modern Colts unless unusual factory documentation says otherwise.
Collector caution: check all visible serial-number locations and assembly numbers, then compare the barrel, cylinder, trigger guard, backstrap, ejector housing, grips, finish, and markings. A correct-looking serial number does not prove the barrel length, finish, grips, engraving, or shipment destination. For higher-value guns, use Colt’s serial lookup as a starting point and a Colt Archive Letter as the stronger collector document. Also see the site’s firearm serial-number guide.

Collector Notes: What to Look For

The Colt Peacemaker rewards patient inspection. The most valuable examples are not merely old; they are original, correctly configured, documented, and honestly represented. This page’s featured revolver is attractive, but the refinish disclosure is the heart of the lesson.

  • Fit and finish quality: look for sharp barrel lettering, crisp patent dates, clean screw slots, correct case colors, honest blue or nickel wear, and edges that have not been rounded by buffing.
  • Desirable years: early U.S.-inspected cavalry guns, black-powder-frame examples, early civilian configurations, and documented late first-generation guns can all attract interest for different reasons.
  • Desirable barrel lengths: 7½-inch cavalry, 5½-inch artillery, and 4¾-inch civilian barrels are the classic groups; documented special-order short or long barrels can bring premiums.
  • Rare markings: U.S. property marks, inspector initials, London proofs, acid-etched “Frontier Six Shooter” markings, factory engraving, agency markings, or special sights should be photographed and researched.
  • Packaging and paperwork: original boxes, end labels, factory letters, old receipts, provenance, and period holsters can dramatically improve buyer confidence.
  • What collectors avoid: unmentioned refinishes, buffed markings, cut barrels, mismatched grip frames, replacement cylinders, modern engraving passed as factory work, and undocumented celebrity stories.

Known Issues and Inspection Notes

Most Peacemaker issues are collector and condition issues rather than modern “recall” issues. These revolvers can be more than a century old, and small changes can have large value consequences.

Timing and lockup Check cylinder carry-up, bolt fit, endshake, hammer notches, hand wear, and overall lockup with a qualified revolver smith when mechanical condition matters.
Finish wear patterns Honest holster wear is different from refinish buffing. Soft markings, rounded screw holes, washed-out patent dates, and overly bright nickel on an old gun deserve caution.
Common breakage points Springs, hands, bolts, screws, ejector components, and grip panels are normal wear or replacement areas. Original parts matter on high-value examples.
Parts availability First-generation parts and qualified Colt SAA gunsmithing are specialized. A “simple repair” can become expensive if originality must be preserved.
Early vs late production Black-powder-era frames, smokeless-era proofing, base-pin latch changes, sight changes, and generation-specific parts should not be blended casually.
Refinish risk A refinished gun may still be beautiful and enjoyable, but it is usually valued very differently from an original-finish collector-grade example.

The Colt Archive Call

This gun shipped to St. Joseph, Missouri, on January 2, 1931. After it arrived, I checked the serial numbers and called the Office of the Historian, Colt Archive Properties, LLC in Hartford, Connecticut, to order a letter of authentication.

I expected a long wait because the authentication letter I had ordered for my Colt Python had taken 125 days to arrive. Instead, after taking my credit card information, the lady on the phone asked whether I would like to hold for a moment while she checked the serial number.

Less than a minute later, she came back with the same kind of information normally contained in the letter of authentication. When I asked how that was possible, she explained that Colt’s Single Action Army records were more readily accessible than the records for the Python.

Collector Insight

The Value Lesson Was Expensive

I paid $3,600 for this Colt and sold it for $2,000 in 2006 with full refinish disclosure. The loss was the lesson: condition and originality can matter more than configuration, story, or appearance.

The photos below preserve the original page’s visual record of this Colt Single Action Army, including the nickel finish, ivory grips, and period character that made the gun attractive despite the refinish issue.

45 Colt SAA Peacemaker with elephant ivory grips
Right-side view of the .45 Colt SAA Peacemaker.
Left side view of 45 Colt Single Action Army Peacemaker with elephant ivory grips
Left-side profile showing the classic Single Action Army lines.
Close detail of Colt Single Action Army Peacemaker
Detail photo from the original Peacemaker gallery.
Gunfighters in the Wild West
The Colt Single Action Army’s reputation is tied closely to the American frontier era and the mythology of the Old West.

The Bat Masterson Comparison

Bat Masterson is strongly associated with nickel-plated Colt Single Action Army revolvers, and documented Masterson orders included .45-caliber nickel Colts with special sights and, in some records, ivory-stocked configurations. This is not a Bat Masterson gun, but the nickel, short-barrel, ivory-grip appearance echoes the kind of frontier-era special-order style collectors recognize.

Colt Single Action Army similar to Bat Masterson special-order configuration
A comparable Colt Single Action Army configuration: nickel finish, short barrel, and ivory-style grip presentation.

Collector Takeaway

For collectible Colts, start with the serial number, document the factory information, compare the configuration to known production ranges, and study the finish before falling in love with the photographs. A refinish may still leave you with a beautiful revolver, but it changes the collector equation dramatically.

From My Bench

For holsters, leather, storage, and related accessories, verify the exact model and barrel length before ordering. Collector firearms deserve careful handling, safe storage, and gear that fits correctly.

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Greg Cook

About Greg Cook

Greg Cook writes about firearms collecting, personal history, and the stories behind interesting guns. His Army MOS was 76Y, Unit Armorer, and he brings that practical background to his collector articles.

Research Sources Consulted

This article updated and cross-checked against current and historical Colt Single Action Army references.