1964 was a big year for Olin/Winchester. That was the year that their revised (for cheaper manufacture) line of firearms was introduced. Unfortunately, the revisions included the Model 94 lever action rifle. You have to understand that the Model 94 was an icon amongst lever action rifles and the standard of comparison at the time.
The reaction from gun writers and the shooting public to the changes was swift and terrible, and Winchester has never regained their former position of dominance. Ultimately, in 1981, Olin Corporation struck a licensing agreement with United States Repeating Arms to manufacture Winchester firearms, which were no longer a profitable line for Olin. In a few years Olin was out of the gun business. Olin still manufactures Winchester ammunition, however.
From 1894 to 1963 the Model 94 lever action rifle had been manufactured using high quality forged steel parts and stocked in genuine American black walnut. The metal finish was a highly polished blue and in the later part of that era the stock had a gloss finish. It was a very solid and handsome rifle, a legend in its own time, and an American icon. It was also the world's most popular sporting rifle, and still is with over 5,000,000 sold by 2001.
The changes to the Model 94 were relatively minor, but never the less devastating to the 94's reputation. Stamped sheet steel parts were substituted in non-critical areas for formerly forged steel parts. The most visible of these was the shell carrier, which raised cartridges from the magazine to the breech, and stood out like a sore thumb every time the action was operated. The loading gate became a stamped and riveted part, which was also obvious. And hollow steel roll pins, which just plain looked cheap, replaced the solid steel action pins. These were not the only changes, but they were the most obvious changes and, as I recall, the ones which drew the most criticism. As a lingering result of these changes, pre-1964 Model 94's are worth about 50% more than equivalent post 1964 models in similar condition on the used market.
