Produced 1865-1866 by the Burnside Rifle Company, on government contract. Blade front and folding ladder rear sights, with the top of the frame marked "MODEL 1865" and "SPENCER REPEATING RIFLE/ PAT'D MARCH 6. 1860/ MANUF'D AT PROV. R.I./ BY BURNSIDE RIFLE Co.". The action is fitted with the Stabler magazine cutoff, and single letter proofs are present on the saddle ring base, frame, lever, hammer and lock plate. Smooth, straight grip stock with a pair of stamped cartouches behind the ring bar, a sling swivel on the underside and "J.E.C" stamped ahead of the buttplate heel.

Near mint as professionally refurbished, with 99% of the deep blue on the barrel, showing light handling marks, and exceptionally vivid case colors on the frame, with only hints of a gray patina forming. Stock is very fine, with a few pressure dents and clearly defined original cartouches. Mechanically excellent. A very attractive representative example of a Model 1865 Spencer saddle ring carbine.