Colt Lightning Rifle, 32-20, Value??

Fargone4sure

Fargone4sure

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Normally i have a pretty good idea of values for guns, but this one is outside of my knowledge base. So could use some input from more knowledgable folks.

Gun was manufactured in 1899 according to its serial number, and is in 32-20.

The good:
-gun functions and shoots fine
-although bore has black powder pitting end to end, it has good deep rifling
-external finish is turned to brown, but is in pretty good shape

The bad:
-pump wood has chips on both sides (pictured)
-butt stock is not original
-loading gate is not original
-dust cover is missing. If anyone has a similar gun, i would really appreciate pictures of both sides of the dust cover. I may machine a new one.

Other observations
-front sight folds down

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Lots of views, but no responses on value. I know if i asked the same question on any model Winchester, lots of knowledgable folks would chime in. I think this just goes to show how uncommon the Colt Lightning was, and is. Not a lot being bought and sold, so tough to gage the value.

On the other hand, thanks to JPC, i have an original dust cover and loading gate on the way.
 
not sure of the value myself but I'm guessing QUITE high.

one of the coolest rifles of the old west IMO, I'd make you an offer if I had the money
 
Flieguy said:
not sure of the value myself but I'm guessing QUITE high.

one of the coolest rifles of the old west IMO, I'd make you an offer if I had the money
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Colt = Harley Davidson
You are buying the name, not necessarily a superior weapon. I picked up a dandy Marlin model 27 Pump in 32-20 for 275 shipped. Granted it isn't quite as nice ( Condition wise ) as this one.
But fully functional and shoots quite well.
And I have 4 Colts and one on the way, so it's not prejudiced opinion.
And you are correct about a high price, I do agree... it should command a good price. Whether it warrants it on it's strengths is another matter...but forgive me if I'm a killjoy. :)
 
fat tony said:
I heard that the infamous Maine desperado Elmer McCurdy was done in by a .32/20 bullet. Who knows it might have been a Lightning. Or any other number of possibilities. Very nice piece.
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Quite correct, he was killed by a 32-20. Hit while prone, it entered his chest, and lodged in his pelvis. Pretty good penetration for a light cartridge. The gun was a Winchester though. Not surprisingly given how much more common they were. Reading up on this, i was suprised a member of the three man posse would use such a light chambering. But i suppose they just used what was available, and according to the late Elmer McCurdy, it was plenty enough.
 
Fargone4sure said:
True enough. But the original black powder loading used at the time was pretty sedate.
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I'd chalk the misconceptions about the efficacy of rounds like the 32-20, up to a combination of Magazine writers, trying to sell interest in 'newer, faster, bigger', and Hollywood's portrayal of same as if they were some sort of super-weapons.

By modern standards, very few of the cartridges which proved effective enough in their day, should have resulted in any real damage, let alone deaths of persons or animals. But they worked pretty well despite modern views.
 
I have an original Colt Lightning rifle 32-20 (1890 something) but it has been completely reworked - barrel relined & cut-down, butt stock replaced (maybe forearm too?), refinished and blued. I paid ~$900 for it at a gunshow - looks good & shoots fine. I believe Rusty Wood had an original in decent shape for sale about a year ago $1800 if I recall correctly. Based on this, I would estimate yours in present shape would fetch ~$1000.
 
The round is interesting but the guns (lever action 1892) are unobtanium in Canada. Buyers market & they know it. The only ones I have seen advertised are single shot Husqvarnas with pieces missing & corroded or shot out bores.

Not one of the replica manufacturers make even one rifle of any type in the caliber(?????)


I'll give them a pass, make do with .22 lr.
 
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There are more Colt Lightning rifles around than a lot of people think. LeRoy Mertz in the US usually has a few of them for sale and they bring a lot more money in the US than up here. I also believe the price on the Colt pumps is down a bit from 15 years ago.
They were made in 3 frame sizes:
Small Frame was in .22.....theres one coming up in the Kidd Family Auction [Creemore] on May 12th.
Med Frame was made in 32-20, 38-40, and 44-40; also made in Carbine and Baby Carbine.
Large Frame made in the larger Buffalo calibres and bring more money than the med frame guns and are more sought after.

The collector value of this particular gun is way down because of the butt stock. Real nice Med frame collector guns can go from 1800-2500$ and maybe even higher. I saw a very nice small frame 22 sell for 1800$ about 10 yrs ago and imported a nice 32-20 from the US about 8 years for around 2000$. My .05, with inflation.
 
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