The "U.S./COL. TER" branded into the left of the buttstock indicates this carbine is one of just 500 Spencer Model 1865 repeating carbines transferred by the U.S. Ordnance Department to the Colorado Territory on October 16th, 1868, per page 129 of "Spencer Repeating Firearms" by Roy Marcot. Burnside Rifle Co. manufactured 30,502 of the Model 1865 Spencer carbines, which were delivered between April and October of 1865, per page 96 of Marcot's book. Many were used during Reconstruction and in the Indian Wars before the Springfield Trapdoors were widely issued, with many seeing continued use by Native American groups and western settlers into the late 19th century. Features blade front and folding ladder rear sights, and the Stabler cutoff. Matching serial number "30548" marked on top of the receiver and bottom of the barrel. Small single letter inspection initials marked on various components, two bordered script inspection cartouches stamped on the left of the stock, small "J.L.C" inspection initials stamped on the left breech area of the barrel, and small "A.W.M" inspection initials ahead of the buttplate.

Fine, retains 40% original blue finish on the barrel thinning to smooth brown patina on the balance, 60% vivid original case colors, some scattered mild surface freckling characteristic of some period Colorado use, with sharp markings and edges in the metal overall. Wood is also fine with a re-oiled buttstock, some scattered mild dings concentrated on the left of the buttstock, light scratches, defined edges and crisp cartouches. Mechanically excellent.