This is an outstanding example of a Model 1865 Carbine that was manufactured by the Spencer Repeating Rifle Company of Boston, Massachusetts, c. 1865-1866. The carbine has a 20 inch round barrel with sling swivels on the stock and barrel band. A sling bar and ring is located on the left side of the stock and the receiver. The barrel has a block-mounted iron front sight and a folding leaf rear sight with 900 yard center notch. The carbine lacks the Stabler magazine cut-off fitted on late production Model 1865 Spencer carbines. The barrel has a military blue finish, the sling bar and ring are bright and the receiver, hammer, breech block, lever and buttplate are color casehardened. The stock and forearm are oil-finished black walnut. The top of the barrel is roll-stamped with the model designation "M1865" behind the rear sight. The three-line legend: "SPENCER REPEATING-/RIFLE CO. BOSTON. MASS./PAT'D MARCH 6 1860" is roll-stamped on the top of the receiver. The serial number, "5430" is roll-stamped on the top of the receiver behind the ejection port. Single and double letter Ordnance sub-inspection marks are stamped on most components. The Ordnance sub-inspection and final inspection marks which consist of the script initials "CHM" in a rectangle and "DAP" in a rectangle with rounded ends are stamped on the left side of the stock behind the sling bar. The seven-shot Spencer Repeating carbine was the most advanced and popular carbine issued to the Federal cavalry during the Civil War. Although the Model 1865 Spencer carbine was manufactured too late for active service during the Civil War it was widely issued to the regular cavalry regiments on the frontier following the Civil War including Custer's 7th Cavalry regiment.

Excellent plus. The carbine retains 95% plus of the original blue finish with some thinning to brown on top, forward of barrel band and some minor storage wear. The case colors on the receiver, hammer, loading lever, breech block and buttplate are vivid and remain 97% intact. The rear sight, receiver, tang and sling swivel screws retain most of the fiery niter blue finish. The barrel and receiver markings are crisp. The carbine shows no firing wear and is probably un-issued. The stock and forearm are in excellent condition with a few minor storage marks. The Ordnance inspection marks on the left side of the stock are extremely sharp. This is an exceptional example of an early production, Indian War, Spencer Model 1865 Repeating Carbine. It would be extremely difficult to improve upon this exceptional carbine.