Spencer Model 1865 carbines with six-groove rifling were serial numbered in the approximate range 1-23000 and manufactured circa 1865-1866. The top of the barrel is marked "M 1865" at the breech. The top of the receiver has the Spencer Repeating Rifle Co. three-line address/patent date marking. The left of the stock has two boxed script inspection cartouches. It has a ladder rear sight graduated to 900 yards, and saddle ring mounted on the left of the stock. Many of these late Spencer carbines were used into the late 19th century Indian Wars.
Very fine, retains 80% original blue finish on the barrel, 70% plus original case colors on the frame, hammer and buttplate with the lock turned to a brown, and scattered light freckling overall with a few patches of moderate surface corrosion. Wood is very fine with defined edges, some light dents and scratches, a gouge on the right of the forend, and crisp cartouches. Mechanically excellent.