The re-classified Colt Pocket Model 1865 of Navy Caliber percussion revolver or Pocket Navy was previously known to collectors as the "Model of 1853" or the "Model 1862 Pocket Navy". It is now more correctly termed the "Colt Pocket Model of 1865 of Navy Caliber" or "Colt Pocket Model of Navy Caliber" or merely "Pocket Navy."

It is now deemed to have been manufactured from 1865 through to circa 1872 in its own serial range from serial number one. It is estimated that approximately 22,500 were manufactured. The Pocket Navy, like the 1862 Police was chambered in .36 caliber with a five shot rebated round cylinder. It had an octagonal barrel with hinged loading lever which was a similar style to the 1851 Navy revolver. The Pocket Navy was manufactured in the three barrel lengths of 4½, 5½ and 6 ½ inches.

The frame, hammer, and lever were case-hardened and the remainder of the revolver was blued. The grips were of one-piece walnut with silver-plated brass back-strap and trigger-guard. The barrel address was ‘ADDRESS COL. SAM COLT NEW-YORK U.S. AMERICA’ with ‘COLTS/PATENT’ stamped on the left side of the frame. The cylinder roll engraving portrayed the stagecoach holdup scene. Many of the late production Model 1865 Pocket Navy revolvers were converted from percussion to cartridge use. Please see the small frame conversion section.

Some Colt Model 1865 Pocket Navies were shipped to the Pall Mall Agency in London. They are usually found with iron grip-straps with an L (denoting London) beneath the serial numbers and British proof-marks on the barrel and cylinder. Very few are found with the rare barrel address: ADDRESS COL. COLT/LONDON. This is considered a very rare variation.

Philip Boulton of Southampton, England has collated and recorded a survival rate of only 3.33% of the original production of 22,500 revolvers. For in-depth reference on Colt Model 1865 Pocket of Navy caliber percussion revolvers see ‘The Book of Colt Firearms- 3rd Edition’ by R.L. Wilson. For values, check out ‘Flayderman’s Guide to Antique American Firearms… and their values’ by Norm Flayderman.