Manufactured from 1838 to 1840. The revolver has the distinctive flared walnut grip, an Ehlers loading lever and the rounded back 5-shot cylinder featuring the stagecoach scene. The top barrel flat is marked "- Patent Arms No.. Co. Paterson, N.J. Colt's Pt." reading from the breech to the muzzle with the "snake and star" marking on one end and has a post front sight. The recoil shield has a capping cut-out as found on later production No. 5s like this example. The matching serial number "951" is stamped on the butt, barrel lug below the cylinder pin hole, cylinder turning ring and wedge. The No. 5 was the most popular Colt Paterson revolver. The Ordnance Department purchased 150 No. 5 revolvers in 1840 for issue to the U.S. Navy; 100 of these revolvers were shipped to the Pacific Squadron. The Republic of Texas purchased 180 No. 5 revolvers with nine inch barrels. Some of these revolvers were issued to the Texas Rangers commanded by Jack Hays in his fight with the Comanche Indians that was subsequently depicted on the cylinders of the Colt Walker and Dragoon revolvers. The Texas Model Paterson is the most desirable of all the rare and highly collectable Colt Paterson revolvers.

Fair. The revolver has a bright refinished artificial gray appearance over some scattered light pitting. The barrel has been shortened, and the address and cylinder scene have both been professionally recut. The serial number on butt has also been recut. The undersized revarnished grip is good with a hairline crack (left side) and some minor dings and scratches. Mechanically fine.