This exceptional Colt Paterson Model No. 2 Revolver was manufactured by Colt and completed by John Ehlers after he took control of the Patent Arms Manufacturing Company from Samuel Colt in 1840. This revolver is referred to as either the Paterson Improved Model No.2 revolver or the Ehlers Fifth Model revolver. The revolver has the distinctive features which include: (1) 11-groove barrel with attached loading lever, (2) capping channel in the recoil shield and (3) 1 1/16-inch five shot cylinder with rounded rear. The cylinder has ratcheted teeth on the back that directly engage the hand. The hammer has coarse knurling on the spur. The loading lever is secured by a dovetail mounted spring on the underside of the barrel. The top of the barrel is roll-stamped: "- Patent Arms Paterson N-J Colt's Pt -" in one line with an arrow at either end of the legend. The marking lacks the "M'g Co" found on Colt Paterson revolvers and has a space where the marking was removed from the die. The cylinder is roll-engraved with the Centaur scene and "COLT" in four-horse-head motif. The serial number "243" is stamped on: (1) the bottom of the wedge, (2) the lower face of the barrel lug, (3) between the chambers on the rear face of the cylinder, and (4) the inside of the frame. All of the visible serial numbers match. The barrel, cylinder, frame and back strap have a high polish blue finish. The hammer and loading lever are color casehardened. The walnut grips have a high polish "piano" finish. John Ehlers completed approximately 500 No. 1 and No.2 Paterson Pocket Model and Belt Model revolvers between 1840 and 1843.

Excellent. The revolver retains 95% of the bright original high polish blue and color casehardened finish and shows minimal firing wear. Wear on the barrel and frame is limited mostly to contact points with a few scattered and very minor scratches and handling marks. The barrel legend is sharp. The cylinder retains all of the roll-engraved Centaur scene and Colt horse-head trademark. The rear edge of the cylinder has light dents and scratches from hammer contact. The frame screws are in excellent condition but the back strap screws show screwdriver battering. The loading lever and hammer retain 90% plus of the casehardened finish with strong case colors. The nicely figured walnut grips are in excellent condition and retain at least 90% of the original piano finish; wear is limited to some minor handling and storage marks. This is an exceptional example of a rare Colt Paterson Improved Model No. 2 revolver, quite possibly the finest example known!