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I'm NOT an expert on the earlier Colt DA revolvers but here's what I can offer:
The Colt 1901 was a slightly modified version of the Colt 1892 "New Army and Navy" revolver.
The first model in this early DA revolver was the Model 1889 "New Navy" which went through several modifications, including the Models 1892, 1994, 1896, 1901, and finally the 1903.
These were the first Swing-out cylinder double action revolvers ever made, and Colt revolutionized revolvers with the new design. S&W wouldn't get their first swing-out DA on the market until 1896.
These were the "grand daddy" of all the Colt DA revolvers that followed, and the basic design was made up until the Colt Python was discontinued in 2004.
These early series guns were discontinued in 1907, with about 291,000 produced for all models.
Your 1901 is a genuine US military issue model, as indicated by the stamps on the butt.
Original grips on the 1901 were hard, black (Gutta Percha) rubber with molded checkering, the Colt Pony in a circle at the top, the word COLT, and sometimes a date.
R.A.C. are the initials of Rinaldo A. Carr, the US Army officer who inspected the guns.
Your gun, with serial in the 140,000 range was made in 1900.
In 1900 the serials started at 131,000, and ended at 147,999.
The US Army and Navy bought large quantities of these revolvers in a now obsolete .38 Long cartridge.
It was this design Colt and the .38 Long cartridge that failed in the Philippines and led to the adoption of the Model 1911 .45 Automatic.
Values on these guns range "Around" $1000 for one in 90% condition, with a premium for a genuine issue military model.
On word of warning: These early Colt's often have chambers bored straight through with no "step" in the chamber.
As such, they will chamber the .38 Special and even the .357 Magnum.
They should NOT be fired with ANY .38 Special loads, and certainly not the .357 Magnum.
These guns were made for early low-pressure loads, and WILL NOT safely shoot even low-power .38 Special ammo.
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