Winchester Repeating Arms Company. Herb Houze
really rather low on the grading scale. Perhaps inappropriate and unsuited for the role, it is the term chosen for the only set of standards that were specifically adopted for antique guns that were established by the National Rifle Association many years ago; see full details and discussion in Chapter II. Thus, if the collector will bear in mind that the euphonious “GOOD” really indicates a fairly well worn specimen, he will be better able to gauge value.
INVESTORS, “INVESTMENT GRADE” GUNS & RECORD PRICES
A steadying influence, likely the underlying reason, for continued health of this hobby (quite the opposite that occurred in many other collecting fields) is the fact that it has never been inundated by “investors” i.e. those who purchase only for the sake of financial gain with no appreciation for the arms themselves. Whether happenstance or not, most earning their livelihood from this hobby, with but few exceptions, never strenuously promoted only its profit potential, combining to make for stability in the American antique firearms market. Hopefully it will never reach the point of self-aggrandizement, as have a few other collecting areas, where those dealing in the material consider themselves an “industry!”.
Composed, mostly, of collectors, with but the smallest group of “investors,” the antique arms market has been protected from the “boom or bust” wild swings of many other collecting fields. The fact that collectors did not desert the market in drastic economic swings has been a steadying influence, preventing any appreciable, price drop. “Investor” as it applies to gun collecting is not a derisive word but it does often imply that one has only a slight idea of the sphere in which they are operating. Those most successful in the long run are not “investors” attempting to forecast the market, but those who take the time to study the hobby to acquire an appreciation of it and buy items they will take pleasure from. It is this latter buyer who will invariably have the greatest gain when disposing of an item or collection. It is essential that the collector learn to discern misleading information disguised as “expert” opinion.
It has been noted that some other collecting markets have sustained well-reported diminishing buyers, prices and interest during various economic downturns. If and when they rebound, the euphemism currently in vogue by investors is “revitalize.” The term has not found its way into this hobby.
CHANGING STANDARDS FOR CONDITION
Condition is, of course, a key factor in determining value. Chapter II discusses the subject at great length. There have been subtle changes over these past years, in the acceptance by collectors of antique arms in condition a grade or two below what was formerly accepted as the norm for various specialities. Although most apparent with Single Shot Rifles, the trend is equally observed with lever action rifles of all types and semiautomatic guns, among many others. In the 1950s through 1970s collectors of those types would only accept mint or near mint pieces with prices drastically falling off for anything below those grades. Commencing with the 1980s through to today, such arms are often prized in considerably lower grades. It was only in the late 1950s that gun collecting became mildly condition-conscious. The search for, and the acceptance of, the ultimate “factory new” or “mint” antique arms began to reach feverish pitch in the 1960s, 70s and early 80s. Although not reversing the trend (those ultimate condition pieces are still equally sought and vied for) there has been a noticeable lessening of goals, indicating the increasing shortage of such “factory new” antique arms. These altered collecting patterns are quite evident with today’s collector and dealer, who may view the field from an entirely different perspective.
GUN SHOWS
There are literally dozens of gun shows throughout the U.S. on any given weekend. As far as antique and collector arms are concerned, there is a decided inverse ratio applicable: The more these shows proliferate, the less the quality and quantity of collectible arms are to be found on display. There are a few consistently fine, and usually exciting, shows throughout the year that have defined parameters for the type of antique and collectors arms allowed for display and sale. Established collector shows will be found a fine introduction to the hobby as long as the new collector tempers his enthusiasm with common sense! By far, the majority of gun shows are relegated to flea market status and the novice, especially, is cautioned that chances of finding the proverbial “sleeper” (i.e. falling into a sewer and coming up with a diamond) are greatly diminished. Very much in evidence at many of those shows are the same tired old guns offered by the same circuit riders at show after show, with the same tired, old, finger-smudged tags affixed.....with the same tired old prices! The tags themselves are the most obvious indication that the guns have been on the market, overpriced, for a long time.
GOALS & OBJECTIVES
The necessity for an accurate, up-to-date book encompassing all collectible American arms and their current market values was apparent; a one-volume source with simply stated, easily found specifications and corresponding prices. This book has been written to fill that want. It is intended to be of equal value and use to the advanced collector as well as to the neophyte; providing each with the basic material needed to assess values for a very wide range of American antique and collectors’ firearms. The book is not intended as the very last word for collecting each specialized field and the reader is reminded of that throughout; especially where minute variances and nuances play an important role on specific models. The goal has been to arm the reader with all the facts necessary to quickly identify an arm and accurately evaluate it; or to at least determine that the piece is out-of-the-ordinary and possesses distinctive features requiring further research before hastily placing a value, possibly inaccurate, on it.
As the basic intent is to be both value and identification guide, considerable effort has been made to include as many known American made firearms as were manufactured on a production basis. Prototypes, experimental pieces or one-of-a-kind developmental or evolutionary models seldom seen are kept to a minimum. An equal effort has been made to assist the reader in determining prices for many types of American weapons which were individually hand crafted and are strictly one-of-a-kind. The Kentucky rifle is the most obvious example, but there are others as well, including Colonial weapons and many types of muzzle loading sporting rifles and fowling pieces. To attempt to include every American arm ever made would be quite inconceivable. It should therefore be obvious, but worthy of mentioning, that the mere fact a gun does not appear listed in this book, does not necessarily mean it is a priceless rarity. It does decidedly indicate, though, that the particular piece may have interesting potential and is well worth further research for identification.
Comment should be made on the incompleteness and inadequacies of certain other basic primers and guides for gun collecting. Some volumes played highly important roles in development of the hobby and were actually milestones in its evolution. In the light of present-day data and knowledge many of those books have been made obsolete, failing to keep pace with the great many collecting developments of the past five decades. Several major fields of American arms collecting were completely overlooked and in other instances the values reflected failed to keep step with actual market conditions. The lack of an up-to-date guide presented a major challenge. It was felt that such a work should be written in the light of personal knowledge and experience to offer the reader intimate glimpses into the field of collecting, insights not previously dealt with in any other books.
Another prime objective of this book is to make available a quick and easily-used reference to all those fields which have achieved primary and secondary importance in the past decades. Included are arms of specific makers that had never been previously treated as individual entities—but were insignificantly grouped among larger categories.
This work, based on research in published and unpublished sources and on practical day-to-day experience, seeks to correct earlier published inconsistencies and misinformation. Making available data about American arms, in an easily found manner, their significance may be better appreciated by a wider element of collectors and dealers alike; some of whom would not otherwise bother to dig out the facts for themselves. There is every reason to believe that by so doing a much wider interest will be generated in those collecting fields. It was found inappropriate to refer to some available published reference material where certain information had been unsubstantiated; in such cases