Volcanic firearms are historically significant and represent an important step in the development of American repeating firearms and self-contained cartridges. The lever action and integral spring-loaded magazine introduced with Volcanic pistols and carbines served as the basic design for the Henry rifle and the Winchester Model 1866, 1873, and 1876 rifles. Oliver Winchester's investment in the Volcanic Repeating Arms Co. eventually led to the establishment of the Winchester Repeating Arms Co. The engraving is the typical patterns of the New Haven Arms Co. pistols and rifles but with a larger scale leading to greater coverage as well as a beaded background. The pistol has the distinctive octagon barrel with integral magazine, round finger hole in the lever, and flat bottom grips. The pistol is fitted with a pinched blade front sight threaded on the barrel and a dovetail mounted notch rear sight at the rear of the frame. The top barrel flat is marked "NEW HAVEN CONN. PATENT FEB. 14. 1854." The deletion of "VOLCANIC REPEATING ARMS CO." from the barrel legend occurred after Oliver Winchester assumed control of the Volcanic Repeating Arms Co. and re-organized it as the New Haven Arms Co. on May 1, 1857. The "gunmetal" frame has a factory engraving consisting of floral scrollwork and borders. The serial number would be stamped on the left side of the grip frame, but the grips are tight and have not been removed.