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Does it have the bands on the barrel end?
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Not that I can see. There is a very light band around the recoil shield.
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I'm not up on Paterson's by any means but the ones I've seen pics of had the writing in script and they do say Colt's not Colt.
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The printing on the barrel is the fly in the ointment. All Paterson I have photos of, hundred or more. The Barrel is marked in block letters, upper and lower case. 'Colt's Pt' is correct, not 'COLT PATENT'. It's so blatantly wrong, if I was counterfeiting a gun I would at least get the marking right.
I recall old Colt ad's saying "don't buy a counterfeit Colt" so did they make counterfeit Patersons back in the late 1830's, early 1840's?????