Samuel Colt's "Paterson" revolvers launched his firearms career in the 1830s, and, although the Patent Arms Mfg. Co. in Paterson, New Jersey, ultimately failed, these revolvers gained interest, particularly in Texas, and thus led to the Colt Walker revolvers, the establishment of the Colt Patent Firearms Mfg. Co., and Samuel Colt's immense success. This model was manufactured c. 1837-1840, and produced within the 1-850 serial number ranges shared between the No. 2 and 3 Belt Models. This example has the straight grip and has a rare and unusual back strap and frame junction. Rather than being a flat junction like most examples, the parts are each stepped and overlap one another. The barrel is marked "-Patent Arms Mg Co Paterson N-J. Colt’s-Pt.-" reading from the breech towards the muzzle. The five-shot cylinder has the incised bands, centaur scene and "COLT" and four horse-head logo, and rounded rear profile. The serial number "698" has been found on the rear of the barrel lug, back of the cylinder, the cylinder turning ring, right side of the front strap and on the butt of the bonded two-piece grip. The left side of the grip has a light hand scratched "WT" marking.

Very good with untouched original gray and brown patina overall, mild oxidation and pitting, replacement wedge, some damaged or replaced screws, repaired arbor pin, absent rotating ring lock, and moderate overall wear. The grip is also good and has some small holes, minor chips, a spot of filler on the right, repaired toe, minor dings and scratches, and edge wear. Mechanically fine. This is a very scarce Colt variation. With so few made and fewer still surviving, opportunities to add a Belt Model to your collection are fleeting, particularly rare and unusual variations like this one.