Manufactured in 1897 according to George Madis' serial number range. The accompanying Winchester Gun Museum letter lists this rifle with an octagon barrel in .32 WS caliber, plain trigger, checkered pistol grip stock, silver trimmings and Lyman hunting front and rear sights when shipped on May 1, 1905. The barrel has a dovetail beaded blade Lyman front sight and folding two leaf Lyman rear sight and is marked with the two-line address/patent date marking ahead of the rear sight and "32 W.S." at the breech on the top flat and the two-line nickel steel marking on the upper left flat. There is a folding tang peep sight. The barrel, magazine tube and bolt are blue, the hammer and lever are casehardened, and the forend cap, receiver and buttplate are silver plated. The half silver finish is a very rare Winchester special order feature, rarer than full nickel finish. Mounted on a fancy, highly figured walnut forearm and pistol grip stock featuring checkering, hard rubber Winchester grip cap and crescent buttplate. The left side of the lower tang is marked "20757 XXX". The assembly number "20725" is stamped on the buttstock under the buttplate and on the back of the buttplate.

Excellent. The barrel and magazine tube retain 90% plus original blue finish with a vertical scratch visible ahead of frame, thinning on the balance. The forend cap, receiver and buttplate retain 97% plus original silver plating with some freckling and minor scratches visible on both sides of receiver. 40% original case colors remain on the hammer and lever. 80% original nitre blue remains on the loading gate. The wood is very fine with minor dings and scratches and scattered blemishes in the overall crisp checkering. Mechanically excellent.