Introduced in 1857, this is one of the rarest variations of the S&W Model Number One: a 1st Issue 2nd Type revolver. The revolver features the rare "bayonet" or flat spring barrel latch found only on first approximately 1,130 Model Number One 1st Issue revolvers (1st and 2nd Type). The revolver also has the revolving recoil plate attached to the frame. Matching serial numbers are on the butt, both grip panels, cylinder, and barrel. Accompanying this rare revolver is an equally rare S&W "Stand of Flags" gutta percha case. The case features an empty 56 count cartridge block and decorative green velvet lid lining. Only 5,000 gutta percha cases are said to have been made for Smith & Wesson. Most of these were made by Littlefield, Parsons & Co, who also made similar cases for daguerreotypes. These "special" cases were popular during the second half of the 19th Century and were usually used for fancy or presentation guns. They were special ordered or added by the distributor after shipment from the factory. These were generally found with the Model 1, 1st and 2nd Issue revolvers. The "Stand of Flags" is one of two types of gutta percha cases commonly recognized; the other showcases a relief image of a Model One on the lid. Out of these two case styles, the "Stand of Flags" is the rarest.

Extremely fine. The barrel and cylinder retain 90% original blue finish mixed with areas of pitting turned brown. 98% original age darkened silver remains on the frame. The grips are fine with minor handling marks and retaining most of the original finish. Mechanically excellent. The rare case is very good with the body of the case having been repaired and there is some chipping along the edges. The lining shows some typical high spot wear. These highly sought after cases were built from rather fragile material, making the survivability rate very low. Cases in any condition are rarely encountered. Provenance: Dr. Gerald Klaz collection.