This revolver was manufactured in 1848, the first year of production, and has a German silver blade front sight, "ADDRESS SAML COLT NEW-YORK CITY" reading from the breech towards the muzzle, "COLT'S/PATENT/U.S." on the left side of the frame, hammer notch rear sight, "900" on the replaced wedge, and matching partial or full serial numbers on the loading lever, cylinder pin (remarked), barrel, frame, trigger guard, and back strap. The markings on the cylinder are not visible. The First Model Dragoon is an important descendant of the famous Colt Walker revolver which debuted just one year earlier and was meant for use by the U.S. Mounted Rifles and U.S. Dragoons. They were also purchased by civilians, including some that headed to the newly discovered gold fields of California and were reportedly sold for $400 in gold or more.

Fair with mottled gray patina and mild pitting throughout, aged patina on the brass trigger guard, and moderate overall wear. The period replacement grip is good and has small chips at the edges, light scrapes and dings, and smooth oiled finish. The cylinder has some play and gets out of time; otherwise mechanically functions fine.