Manufactured in 1894, the first year of production. This rifle features a "Winchester Express" beaded blade front sight and elevation adjustable buckhorn rear sight. The top barrel has the two-line address/patent dates ahead of the rear sight and "32-40" at the breech. Upper tang has the three-line model/patent marking. Full magazine and smooth forearm and straight grip stock with a inset brass star on the right side and a crescent buttplate.

Fair as refinished. The rifle retain half of the dull blue finish with scattered scratches and dings and the barrel aging to a smooth brown patina. The markings are clear. The revarnished wood is good with scattered scratches, ding and pressure dents. The magazine is a modern replacement. Mechanically fine.