The Colt Second Model Ring Lever Rifle or Model No. 2 Ring Lever Rifle was manufactured circa 1838 to 1841 in Paterson, New Jersey. A total of approximately only 500 Second models were manufactured and serial numbered in their own range from 1 through to 500. By pulling the ring lever the cylinder is turned and the hammer is cocked for each shot.

Standard model, without attached loading lever, with capping channel in the recoil shield, and having a square-back or rounded type cylinder. Chambered in .44 caliber with eight shot cylinder (ten shot very rare) with standard 28 inch and 32 inch octagonal barrel with or without loading lever. The cylinder roll scene depicts horsemen and a centaur hunting a deer; the word COLT is also present. A small house is also engraved on the cylinder. The barrels were marked on the top: "Patent Arms M'g. Co. Paterson, NJ.-Colt's Pt.". Varnished walnut stock with cheek-piece. All metal parts are blued except the barrel which is browned. Serial numbers appear on various parts, most of them visible only when the rifle has been disassembled. The standard model is without loading lever and no capping channel in the recoil shield. Also cylinders have a square-back configuration. Weight 8 pounds 8 ounces with thirty inch barrel with loading lever. The improved model is Factory fitted with loading lever attached and also a spring held detent underneath trigger guard to permit the cylinder to be revolved while loading (instead of removing cylinder for loading), locking the ring lever to permit this. The addition of a capping groove on the recoil shield and the rounding of the back of the cylinder were also factory improvements and came before the loading lever became permanent.

As with most Colt firearms there are always exceptions to the rule with some engraved examples known. Coverage is mainly to the frame, trigger-guard and tangs. Also inlay and overlay of silver on stocks has been observed. Values depend on condition, rarity and provenance. Cases were advertised for $4 but are seldom seen.

For in-depth reference on Paterson longarms see 'The Paterson Colt Book featuring the Dennis A. Levett Collection' by R.L. Wilson.