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Lock Stock & Barrel Auctions, Live Auction #7 - Cody, Wyoming

Fri, Oct 23, 2026 11:00AM EDT
  2026-10-23 11:00:00 2026-10-23 11:00:00 America/New_York Lock, Stock and Barrel Lock, Stock and Barrel : Lock Stock & Barrel Auctions, Live Auction #7 - Cody, Wyoming https://bid.lsbauctions.com/auctions/lock-stock-and-barrel/lock-stock-barrel-auctions-live-auction-7---cody-wyoming-24995
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Lot 3289

Rare Winchester Model 1886 26" Octagon .38-70 WCF Lever Action Rifle with Letter 1894 Antique

Estimate: $2,500 - $5,000
Starting Bid
$10

Bid Increments

Price Bid Increment
$0 $10
$100 $25
$500 $50
$1,000 $100
$2,000 $200
$5,000 $500
$10,000 $1,000
$25,000 $2,500
$50,000 $5,000

Make: Winchester

Model: 1886

Serial Number: 89545

Year of Manufacture: 1894

Caliber: .38-70 Winchester

Action Type: Lever Action with Full-Length Tubular Magazine

Barrel Length: 26", Octagonal

Sights / Optics: The front sight is a Lyman white-beaded blade dovetailed to the front of the barrel, the sight is not original to the gun. The rear sight is a semi-buckhorn "V"-notch elevator sight dovetailed to the rear of the barrel. The left of the receiver is drilled and tapped with a Lyman 21 receiver sight installed, not original to the gun. The top tang is drilled, tapped and filled for a tang sight, none present.

Stock Configuration & Condition: The stocks are two-piece smooth walnut with capped forend, straight grip, straight comb and steel crescent buttplate. The stocks have some scattered nicks dings, scuffs and scratches. There is handling wear and some discoloration in the wrist. There is a short crack on the right near the toe. The LOP measures 13" from the front of the trigger to the back of the buttplate. The plate has muted with some light oxidation and a few light nicks. Overall, the stocks are in Very Good condition as Antique.

Type of Finish: Blue and Case Color

Finish Originality: Original

Bore Condition: The bore is gray with well defined rifling. There is some scattered light erosion and pitting in the bore. In this writer's opinion, the bore rates 6/10.

Overall Condition: This rifle retains about 10% of its metal finish. Strongest finish is on the top of the bolt and on the left frame flat where protected by the receiver sight. There is some other finish in well protected areas or around raised features. Most surfaces have worn to white or gone to a light patina, much of the receiver has the almost nickel appearance typical of aged Winchester case hardening. There is some scattered surface erosion, mostly on the barrel. There are some light nicks and scratches. The action shows operational wear. The screw heads range from sharp to tool marked with strong slots. The markings are clear. Overall, this rifle is in Very Good condition as Antique.

Mechanics: The action functions correctly. We have not fired this rifle. As with all used firearms, a thorough cleaning may be necessary to meet your maintenance standards.

Box, Paperwork & Accessories: This rifle comes with a Winchester factory records letter which confirms that this serial number was produced as a rifle, 38/70 caliber, octagon barrel, plain trigger, received in warehouse July 12, 1894 and shipped June 20, 1900 on order 63123.

Our Assessment: Winchester's first attempt at a lever action rifle capable of handling a rifle cartridge was the Model 1876, which was a heavier framed version of the Model 1873. However, the toggle-link action used in the gun was still limited to short cartridges like the .40-60 and .45-60 Win, its development rushed to ensure that the new model was out in time for the American centennial. The Model 1886 was designed by John Moses Browning to handle longer cartridges like the .45-70 Govt., the .45-90 Win. and .50-110 Win. cartridges. It utilized a locked-bolt action that was much stronger than the M1876, and some seem to think it is faster and smoother as well. The rifle would be touted as a lever action express model, capable of handling any of the North American game animals.

This rifle is chambered in .38-70 Winchester, a cartridge based on a necked-down .45-90 Win., not a .45-70. The cartridge was introduced in 1895 and stayed in production until 1918, making this rifle a pre-production example, chambered for the brand new cartridge in mid-1894. According to "Winchester Lever Action Repeating Firearms Volume 2" by Arthur Pickle, only 830 M1886 rifles were chambered in this caliber, making it the 2nd rarest caliber used in the M1886 after the .40-70 Win. This is a fairly early M1886, made during the period when Winchester was producing the rifle with a case colored finish to the receiver, lever and nosecap. This example shows honest wear for its age, retaining a fairly strong bore and good mechanics. With only 830 of the M1886 rifles chambered in .38-70, this rifle is sure to interest the collectors. Please see our photos and good luck!

Lock Stock & Barrel Investments Inc.

2301 Lt. Childers St.

Cody, WY 82414

United States

 www.LSBauctions.com

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