Samuel Colt's Patent Arms Manufacturing Company marks the beginning of a new era in firearms manufacturing and history. Colt's innovative designs brought repeating arms to the masses like not other arm before, and his factory in Paterson, New Jersey, manufactured several variations of revolving handguns and long guns before closing in 1842. While production was limited, Colt's revolvers left a lasting impression and particularly saw use in battle in the Southwest where the Texas Rangers used them in battle against the Comanche setting the stage for Samuel Walker and Colt's collaboration on the Model 1847 Walker during the Mexican-American War and the success of Samuel Colt's improved designs. While the Model 1851 Navy was later known as the Belt Model, these early Paterson Belt Models are more equivalent to the Model 1849 Pocket revolvers which became arguably the most popular of all of Colt's revolvers with over 300,000 made. The Model No. 3 Belt Model revolvers were numbered within the same range as the No. 2 Belt Model revolvers in 1837-1840, and total production of the No. 3 only reached approximately 450. This revolver is a No. 3 Belt Model Paterson with the medium length barrel (4 1/2 inches). This early example was manufactured prior to the spring of 1840 based on the squareback cylinder. R.L. Wilson classified this variation at the "Model A" which in addition to squareback shoulders on the cylinder has flared walnut grips with rounded butt, flared barrel lug with double curve, small letters in the barrel address, and blued finish on the frame. This revolver is the more deluxe version with seven German silver bands inlaid into the barrel and frame recoil shield as well as a German silver escutcheon inlaid into the back strap. It is similar to serial number 6 shown on page 103 of "The Paterson Colt Book" by Wilson. The barrel has a small blade front sight and "-Patent Arms M'g Co Paterson, N-J Colt's Pt.-" marked on top. The cylinder has the roll engraved centaur scene. The serial number "174" is marked on several components such as the wedge, trigger, back of the barrel lug, rare face of the cylinder, cylinder turning ring, left side of the front strap, inside of the back strap, and butt of the left grip. The grips are tightly fit and were not dismounted, but the back strap almost certainly is marked with the matching serial number as well. It is accompanied by a rare Paterson ball mold with wooden handles.

Very good with strong traces of original blue finish visible in the protected areas, smooth gray and brown patina on the balance, some light pitting, and light aged patina on the German silver inlays. The grip is also fine and has mild handling and storage wear. Mechanically fine. The mold is also fine and has mild oxidation and dark patina on the iron, aged patina on the ferrules, mild wear on the handles, and a repair on the sprue cutter handle. Overall, this is a very attractive example of one of Samuel Colt's rare and early No. 3 Belt Model Paterson revolvers.