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This looks "old" to me also...

This is not an Italian reproduction which has been aged....this is from back when.
 

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I have conversed with Jeremy (the OP) who has posted this gun in a thread on another forum, so what I am about to say is not new to him.

It is a parts gun and nothing more. No collector value whatsoever. There were many gunsmiths in the 1920's-1940's, when C&B revolvers were considered nearly worthless, who amassed them and swapped parts between them to make cheap shooters, with no concern as to what gun the parts were from.

While the frame and barrel "may" be from a G&G (with the serial numbers refreshed as been pointed out), there are many other problems: no serial number on the cylinder, no approaches to the stop-slots, two-piece grips, wrong trigger guard, cryptic marks 3 and R on the TG and BS should be backwards, brass screw on the front of the TG, wrong mainspring and screw [with a lock washer(!)], the hammer screw is like new, and it has a huge barrel/cylinder gap, among other minor things.

Even if it might be capable of shooting it is better off as a wallhanger conversation piece.

Jim
 

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It could immediately be ruled out as a '51 Colt Navy with a s/n in the 2000 range -- it would need to have a squareback trigger guard.
 

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here is a picture Navy, built for the Navy in 1858. Also in its history in 1871 the Government had this revolver converted, than given to a US Marshall. The Navy is engraved with; a Navy bell, later the Richard Mason conversion, US Marshall, the cylinder shows the 1843 Texas vs Mexico Naval battle. The bore is excellent colt-navy-2.jpg
 
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