Old Spoon advice?
 

Got my eye on this, as a wall hanger
1862 mfr Colt percussion rifle
1861 Springfield pattern.
Can't find a serial anywhere, several stock repairs, the breech is jammed up pretty good, the idiot 'dry fired' it a lot. Still cocks and the firing mechanism seems in decent condition, though the nipple shows some wear as would be expected from dry fire. Only marking it can find aside from the standard colt blah blah on the side plate is a V on the barrel

What's a rough idea of fair. I've been sticking at 400......he started at 1000 and is down to 625....... I'm beginning to think my offer may actually be a little high
http://i179.photobucket.com/albums/w...ps61c735c6.jpg
http://i179.photobucket.com/albums/w...psf86d38b0.jpg
http://i179.photobucket.com/albums/w...ps15a38549.jpg
http://i179.photobucket.com/albums/w...ps9c244447.jpg

You don't see any "proof marks" anywhere? Maybe David (Targa911s) or Tabs et al will chime in. I was able to gain more infor on a family "piece" via proof marks and a doc David sent me years ago.

Only marking is a V on the left hand of the barrel at the breach.

So serial anywhere and I'm pretty sure they're supposed to be on the trigger housing for this model. Makes me think this is very heavily bastardized

Colt marks.........
 

I believe that the "V" is Colt's "verified proof" mark from that era. If you could remove the barrel from the stock, you would most likely find other marks on the portion of the barrel covered by the wood. While the Colt rifles are not terribly rare and that one certainly is far from pristine, your offier at $400 may be a bit low. If you can, try offering to meet him at $500 (in the middle, so to speak) and see what happens. If you do managed to buy this rifle, resist all urges to "fix" anything. Don't clean the metal, replace the nipple, etc. All you would be doing would be reducing the value of the piece. It is what it is! Good luck!

spot on Fred..

Well, saw him tonight....asked him about it. He said he had someone interested in it at 500.....I pulled 400 out of my wallet and said that I didn't see this other person anywhere around, but I did see cash right there and ready to change hands.

Obviously, it's mine now.

Dang...I reckon I'll go spend that $500 on something else then :D.

Nicely done!