Manufactured c. 1895, this is an outstanding example of an iconic Winchester advertising piece. These eye-catching bullet boards were a staple of advertising in the late 19th and early 20th century, being a piece that could both grab a customer's attention as well as show off the wide range of ammunition that was manufactured by Winchester. These sorts of advertisements would have been seen in hardware and sporting goods stores throughout the nation, with many being displayed for decades, taken for granted, and not viewed as collector's items, leaving few available to collectors today and even fewer still in extremely high condition like this example. This advertisement displays the wide range of ammunition produced by Winchester from percussion caps up to the massive express cartridges and large gauge shot shells. This is an extremely rare board as it has both 1894 and 1895 vintage (30 WCF and 25-35 WCF) and 1895 vintage (30 U.S.G. and .236 U.S.N.) cartridges as well as Winchester Leader 12 gauge shotgun shell. Also, the Rival sectional No. 12 metal lined and No. 10 blue Rival paper shot shells are all unique to this board. There are three versions of this board known to knowledgeable collectors, this being the last. The surviving number of this specific variation of bullet board is believed to be very small. The ammunition is displayed in a large single "W" pattern and additional cartridges are organized in star and circular patterns as well as lines of shotshells on the sides. The board displays a dark brown woodgrain background, "WINCHESTER/REPEATING ARMS CO." at the top in bold red and yellow lettering, a pair of ducks at center, and vignettes of two hunters in the woods with a Winchester rifle aimed at unseen game and a cowboy using his horse for cover as he engages a distant foe with his Winchester. All of the cartridges appear to be present and remain attached. The back of the board has the original "PRESENTED WITH COMPLIMENTS OF THE WINCHESTER REPEATING ARMS CO. PLEASE HANG IN A PROMINENT PLACE" paper label affixed to the top center. The overall display including the frame measures approximately 37 3/4 x 50 3/4 inches.