1894 Winchester with 3 digit serial number

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Coyote3855

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A local museum asked for help evaluating a donated collection of 32 Model 1894 and Model 94 rifles and carbines.

The alleged "gem" of the collection is a .38-55 with a three digit serial number. However, the finger lever link, the breech bolt, and carrier are obvious replacements. The rest of the rifle (26 inch round barrel) would grade very good antique standards with even brown patina, clear and sharp markings. Wood also very good with minor dings and wear, no missing wood or bruises. No remaining blue even in protected areas. The donor claims the rifle was appraised at $6000. The curator took the rifle to Cody, and the experts there confirm it was made in third month of production.

How much do the replaced parts detract from collector value?
 
A local museum asked for help evaluating a donated collection of 32 Model 1894 and Model 94 rifles and carbines.

The alleged "gem" of the collection is a .38-55 with a three digit serial number. However, the finger lever link, the breech bolt, and carrier are obvious replacements. The rest of the rifle (26 inch round barrel) would grade very good antique standards with even brown patina, clear and sharp markings. Wood also very good with minor dings and wear, no missing wood or bruises. No remaining blue even in protected areas. The donor claims the rifle was appraised at $6000. The curator took the rifle to Cody, and the experts there confirm it was made in third month of production.

How much do the replaced parts detract from collector value?

The main claim to high value is the low serial number, of course. Particularly in a rifle that's not entirely original I'd say predicting value based on a low serial number is a crap shoot. I've only replaced one carrier in an early Winchester and it proved to be a drop in that didn't require fitting. On another rifle, I'd have to see it feed live rounds before I trusted it. If I have significant doubts about whether a rifle is going to work, I'm not going to pay over two thousand dollars, and if the rifle were in my possession I wouldn't be happy about asking for that much money and at the same time feeling obligated to explain to a prospective buyer what wasn't original.
 
No, and it's a her. I don't know if Cody does appraisals. I'm trying to get pictures. The replacements are 95% blue while the frame, barrel, and magazine tube are smooth brown patina so they were easy to spot. Function is not an issue as the 32 firearms will be in a sealed display case with humidity control. Value is important only because of insurance. I'm asking these question mostly out of curiosity. I'm a volunteer at another museum updating its inventory. The next step for that collection is establishing values for insurance purposes.
 
Insure high as replacement cost is almost always more than it's worth on paper.There just are not that many 3 digit ones left.
 
A 3 number 1894 would be a nice add to any collection.
And on a side note many museums "deactivate" the firearm. Pull the firing pin is an easy task on most long guns.
I volunteer at a war museum and the firearms are incapable of firing one way or another.
 
The 1894 was originally made in .38-55, which this one is, and .32-40. The .30 WCF and .25-35 both smokeless came out in 1895.
 
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