Colt Single Action Army was discontinued in 1999, as was the 4.75" variant, which was reintroduced in 2002. Manufacturing of the Colt Cowboy was discontinued in 2003. Colt engraved less than one percent of its first generation production of the Single Action Army revolver, which makes these engraved models extremely rare and valuable with collectors. Engraved pieces were often ordered by or for famous people of the day, including lawmen, heads of state, and captains of industry. This tradition began with the founder, Samuel Colt, who regularly gave such examples away as a means of publicity for Colt. Colt employed a number of engravers,
Samuel Colt other than detonating mines. Colt concentrated on manufacturing his waterproof telegraph cable, believing the business would prosper alongside Morse's invention. He began promoting the telegraph companies so he could create a wider market for his cable, for which he was to be paid $50 per mile. Colt tried to use this revenue to resurrect the Patent Arms Manufacturing Company, but could not secure funds from other investors or even his own family. This left Colt time to improve his earlier revolver design and have a prototype built by a gunsmith in New York for his "New and improved revolver". This