Colt Third Model Dragoon

posted on September 10, 2014
** When you buy products through the links on our site, we may earn a commission that supports NRA's mission to protect, preserve and defend the Second Amendment. **
coltthirdmodeldragoon.jpg

Gun: Colt 1851 Third Model Dragoon
Caliber: .44 percussion cap and ball
Serial No: 108XX
Manufactured: 1851 (first year production for Third Model)
Condition: NRA Fair (Antique Gun Standards)
Value: $4,500-$5,500 (with an additional $300 to $350 for the original unmarked alligator holster)

Until the advent of the .357 Mag., the .44-cal. 1847 Colt Walker was the United States’ most powerful revolver. Still, the handgun had drawbacks, most notably its massive size. In those early years of metallurgy, with increased firepower came greater bulk, and the Walker weighed a hefty 4 lbs., 8 ozs. In addition, its stout recoil often caused the loading lever to drop and plunge the rammer into the cylinder’s chamber, preventing it from rotating. Samuel Colt knew he had to make changes to keep his company afloat.

The result was the First Model Dragoon in 1848, which tipped the scales at 4 lbs., 2 ozs., with a slightly scaled-down frame and .44-cal. cylinder, an improved loading lever latch, and a 7½" barrel, which was shortened from the Walker’s 9"-long tube. The handsome Dragoon sported a brass backstrap and trigger guard (silver plated on civilian models), case hardened frame, loading lever and hammer, and one-piece walnut stocks. Military guns were stamped “U.S.” on the frame, and “WAT” on the stocks, for Ordnance Inspector W.A. Thornton. The cylinder provided ample space for W.L. Ormsby’s engraving of mounted riflemen in pursuit of Comanches.

The first 300 Dragoons featured some Walker parts, creating a sub-variation described by John Fluck in the September 1956 issue of American Rifleman. The First Model exhibited other Walker holdovers as well, including: a square-back trigger guard, oval cylinder locking holes, and “V” mainspring. The Second Model Dragoon, introduced in 1850, was designed with rectangular cylinder locking notches with lead-in grooves, and a flat mainspring.

But it was the Third Model Dragoon, produced from 1851 to 1861, with 10,500 guns made, that was the apex of the horse pistol. Produced in two barrel lengths, 7½" and 8", it featured an improved lever latch and rounded trigger guard. Besides extensive use during the Civil War, these guns were pivotal in the opening of the American West.

This Third Model, pitted and roughly cleaned, is in NRA Fair Condition with less than 10 percent of its finish remaining. The worn stocks exhibit shrinkage, with a chip off the left toe. The cylinder engraving and matching numbers are legible but worn. The trigger guard is slightly bent and there is a small crack on the right side of the frame, indicating forging problems. Interestingly, this gun came with an alligator holster, hinting of possible Southern origin. In spite of its condition, collector demand for these imposing pistols puts its value at $4,500 to $5,500.

Latest

Gotw Wilson Combat Divison 77 Project 1 Web
Gotw Wilson Combat Divison 77 Project 1 Web

Gun Of The Week: Wilson Combat Division 77 Project 1

Join American Rifleman staff on the range in this video to get a closer look at Wilson Combat’s somewhat cryptically named “Division 77 Project 1.” 

The Armed Citizen® July 18, 2025

Read today's "The Armed Citizen" entry for real stories of law-abiding citizens, past and present, who used their firearms to save lives.

Review: POF-USA LMR BASE Rifle

The Patriot Ordnance Factory LMR Base offers a .308 Win. chambering in a lightweight, AR-15-size package, which makes it a capable platform for today's new gun owner. And it comes at a fair price.

2025 Accessory Of The Year: Wyoming Sight Drifter

For each of the past 23 years, the editors of American Rifleman have convened to select our top picks for the past year’s best and most innovative products. Here are the most recent winners.

Henry Donates Rifles To Support Young Leukemia Victim

Henry Repeating Arms has donated a limited run of 50 “Team Keane” Golden Boy .22 lever-action rifles to support 13-year-old Keane Rhodes of Universal City, Texas, who is currently undergoing aggressive treatment for ALL T-cell leukemia.

Rifleman Review: Springfield Armory Echelon

Springfield Armory introduced its Echelon in 2023, bringing a modernized, chassis-style, striker-fired handgun to the market that has since seen several notable line extensions.

Interests



Get the best of American Rifleman delivered to your inbox.