Good condition antique US military Spencer Model 1865 Carbine in .56-50 rimfire caliber. Mechanically functions fine. This example was not manufactured with the Stabler cutoff. Nice manufacturer and model designation markings on the receiver ring. Metal is worn to the white with some gray and brown patina. 20” barrel has a good bore with strong rifling and some light pitting. Stock has been refinished and shows some normal handling marks. A good example of a classic Spencer Carbine for your collection.