23,000 of these Model 1865 carbines are estimated to have been manufactured in 1865 and 1866. It has the standard manufacturer markings and features, including two cartouches on the left side of the stock. Many of these late Spencer carbines were used in the West into the late 19th century.

Fine, retains 90% plus original blue finish with some light muzzle wear and handling marks and strong case colors on interior lever components with the balance showing faint traces of original case colors in sheltered areas and a smooth grey patina on the remainder. The wood is very fine with some scattered light dings and scratches and crisp cartouches. Mechanically excellent.