The Lightning Magazine Rifle series was manufactured in an attempt by Colt to compete with Remington and Winchester in the sporting rifle market and were mainly chambered in calibers also available in Colt's popular handguns. The hope was that the rifles would be purchased by consumers already well acquainted with Colt's handguns as companion pieces to their existing firearms. Though the design and marketing concept were well-conceived, Winchester and Remington were synonymous with long guns, and Colt was still largely seen as a handgun manufacturer. Winchester's lever actions remained the main companions to Colt's revolvers throughout the late 19th century and early 20th century. This example was manufactured in 1901 and has a blade front sight, notch rear sight (not adjustable), half magazine, standard markings, smooth stock, and outlined forearm.

Very fine. 90% of the lightly fading original blue finish remains. The hammer even retains significant original case colors. The brass has an attractive aged patina. The wood is fine and has a minor repaired crack on the wrist on the right side that has been finished over and a small chip on the left. Mechanically excellent, and the markings are crisp.