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,
.45 Colt quartermasters. Current catalog listings of compatible handguns list the caliber as .45 LC and .45 Colt. Both the Schofield and the .45 Colt were used by the Army at the same period of time prior to the adoption of the "M1887 Government" version of the .45 Schofield cartridge The .45 Colt was a joint development between Colt's Patent Firearms Manufacturing Company, of Hartford, Connecticut, and the Union Metallic Cartridge Company of Bridgeport, Conn. Colt began work on the revolver in 1871, and submitted a sample to the U.S. Army in late 1872. The revolver was accepted for purchase in 1873.