Only an estimated 2,700 Second Model Dragoons revolvers were manufactured around 1850 and 1851 compared to 7,000 of the First Model Dragoons and 10,500 Third Model Dragoons. They are thus by far the scarcest of the primary Colt Dragoon revolvers. The U.S. Contract Colt Dragoon revolvers were used primarily by the First and Second Dragoon Regiments and the U.S. Regiment of Mounted Riflemen from 1849 until the Civil War. This revolver was manufactured in 1851 and has a German silver blade front sight, "-ADDRESS SAML COLT NEW-YORK CITY-" marked on top of the barrel, Texas Rangers and Comanche fight scene on the cylinder, rectangular cylinder stops, "COLT'S/PATENT/U.S." on the left side of the frame, squareback trigger guard with "F" on the left and "MS" (Massachusetts Militia) marking on the bottom, and matching serial numbers on the wedge, arbor pin, cylinder, loading lever, barrel, frame, trigger guard, and back strap.

Fair with silver-gray patina, moderate overall pitting, worn hole at the hammer screw, and fairly heavy overall wear. The modern replacement grip is very fine with minimal wear and attractive figure. Mechanically fine.