Howdy
It has nothing to do with snobbery.
Part of the reason Colt includes that warning is it lets them get around the import rules that the importers of Uberti and Pedersoli replicas have to comply with when importing their single action revolvers into the US. For years Uberti replicas of the SAA had a small hammer block mounted in the hammer that prevented the hammer from falling all the way unless the trigger was pulled. Later they had the two position cylinder pin that prevented the hammer from falling unless the cylinder pin was pulled to the forward position. Most recently Uberti has included a retractable firing pin in the hammer. This version will only fire if the trigger is pulled. All of these efforts have been to get around the Colt's well known tendency to discharge if the revolver falls onto the hammer spur with a live round under the hammer. The Colt action is basically the same as it was in 1873. A strong enough blow to the hammer will most likely discharge the revolver if a live round is under the hammer, even if the trigger is in the so called 'safety cock' notch on the hammer. By emphasizing the Single Action Army is collector's item, and down playing that owners may actually shoot one, they have gotten away with continuing to manufacture a revolver that does not have any modern safety devices built in.
All Rugers made since the mid 1970s have had a transfer bar, all Smith and Wesson revolvers made since sometime in the 1920s have had an internal hammer block. Colt has been able to continue to make a revolver that is unchanged since 1873 without any modern safety features partially because they emphasize it is a collector's item and may not actually be suitable for shooting. Of course, any Colt, no matter when it was made is suitable for shooting, that is just Colt's way of covering their butt. Don't forget, Ruger got sued bigtime and lost bigtime when shooters injured themselves with the old Three Screw Blackhawks that did not have a transfer bar inside. That's why all Rugers have had a transfer bar ever since sometime in the 1970s, and Ruger will convert any old Three Screw have a transfer bar free of charge.
Quality of the 3rd Generation of the Colt Single Action Army (the model currently being made) dipped shortly after it started being made in 1976. At this time Colt did away with the removable cylinder bushing and instead the bushing was integral with the cylinder. This raised an outcry among Colt aficionados so Colt made the cylinder bushing removable again a few years later. Some feel this constituted a 4th Generation of the SAA, but collectors only recognize 3 generations.
I don't own any 3rd Gens, but I own two 1st Gens and five 2nd Gens, including a New Frontier. I have examined several recent 3rd Gens closely, and in my humble opinion the machining is not quite as precise as a 2nd Gen, but it really is not bad. I have no interest in owning a 3rd Gen I have enough Colts, but if I did I would not hesitate to buy and shoot one, they are fine.
The best price I have ever paid for a 2nd Gen SAA is $680 for this one that left the factory in 1968. I bought it about 20 years ago. The reason the price was so good is it is a parts gun, a few of the parts are from different guns. I bought it from an honest dealer who explained all that to me. Do not be put off by its appearance, when I bought it a previous owner had stripped off all the finish in an attempt to make it look old. Another reason for the low price. After 20 years of nothing but Black Powder cartridges being fired through it, it has gotten a little bit more 'seasoned' looking.
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The most I have paid for a Single Action Army is $2200 for this 2nd Gen from 1973 a couple of years ago. Besides being in immaculate condition, it came with the original box.
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I paid somewhere in between those two prices for my other two 2nd Gen SAAs.
I think I did quite well on this New Frontier a few years ago for $900. All New Frontiers are 2nd Gens, all made between 1961 and 1969, named after President Kennedy's domestic and foreign programs. This one shipped in 1965. New Frontiers are not in as much demand as a standard SAA and generally go for less.
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We will not be discussing what I have paid for my 1st Gens.
Regarding broken parts in a Colt:
Here is a broken bolt from my SAA parts gun. They don't break often, but if they do, this is the way they break. Colt bolts are made of spring steel. Every time the cam on the hammer flashes past the bolt as the hammer falls, that leg has to bend then spring back to its original shape. This one finally gave up the ghost right at the thinnest cross section around the pivot hole from metal fatigue. It does not happen often, but when it does, that is where it will break.
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