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The most recognizable American revolver has to be Colt’s Single Action Army (aka “The Peacemaker”).
Originally adopted by the U.S. Military in 1873, the pistol was dropped from Colt’s catalog around 1940 due to the production demands of WW II. It was resurrected as a result of consumer demand for the frontier icon created by the TV Westerns of the 1950s, and is still in production today. This continuous demand has made early Peacemakers quite popular as collector items with specimens in good condition commanding premium prices, and representing solid investment potential.

Modern handguns do not normally command collectible level prices, but Colt’s Python and Anaconda revolvers are emerging as investment level collectibles. Recent sales at Heritage Auctions show these revolvers have reached, and often exceed the prices commanded by the venerable Peacemaker.

The reason for this rapid increase in value is Colt’s focus on fulfillment of military contracts, and their decision to halt production of double action revolvers.

Python – $1,500

Anaconda – $5,156

3rd Generation Single Action Army – $1,250

This market is gaining speed, and current owners of Colt double action revolvers could have significant value stashed in their nightstands. Maybe it’s time to dust off that old revolver and find out what it is worth.