1982 Colt Python & Diamondback "Bank of Findlay Cased Set", 357 Mag./.22 LR, W/Boxes, K80536/ P55568

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  Lot #19 
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This Colt Python & Diamondback cased set was part of a certificate of deposit promotion run by The Bank of Findlay, located in the small village of Findlay, Illinois, starting in 1976. The concept of the promotion was that the bank offered pre-paid interest on a six-year, $2,500 certificate of deposit in the form of these cased revolvers. The pistols were sent from the Colt factory to a local gun dealer, Wootens Sporting Goods, in no special order or serial number. The wooden presentation cases were made by a local company hired by the bank. The promotion initially began quietly before being picked up by the national news, including the CBS Morning News show flying the bank vice-president, Greg Bohlen, out to New York to appear on their show. Once the promotion hit national news, interest exploded, with the bank president claiming to have gotten orders from all over the United States, sometimes as many as 100 in a single day. At the time it was thrust into the spotlight, Findlay was a village of less than 900 people, and the bank was worth about $7 million. One news article claims that this promotion increased the bank's earnings by about $3 million, as well as netting a profit of $150,000 for Wooters Sports Shop which had been struggling its way through the economic recession. It is reported that around 3,000 of these sets were issued by the bank by the time the promotion ended. This set is consigned by the son of the original owner and comes with a signed & dated letter from his father, which states: "IN 1976 THE STATE BANK OF FINDLAY, IL, OFFERED A PROMOTION TO BUILD UP BANK ASSETS. THE PROMOTION WAS: TO OFFER A MATCHED PAIR OF COLT REVOLVERS IN A WALNUT PRESENTATION CASE TO BE ISSUED AS AN INCENTIVE TO DEPOSIT $2,500.00 IN THE BANK FOR A PERIOD OF 6 YEARS. AT THE END OF 6 YEARS, THE DEPOSITOR WOULD THEN RECEIVE THE PISTOLS IN THE CASE. THE PISTOLS WERE A .22 CALIBER DIAMONDBACK AND A .357 CALIBER PYTHON. I DEPOSITED THE MONEY IN THE BANK IN 1976. IN 1982 I RECEIVED NOTICE THAT THE TIME REQUIREMENT HAD BEEN FULFILLED, BUT THE PISTOLS WERE NOT YET AVAILABLE. THE REASON BEING, THERE HAD BEEN SUCH A LARGE RESPONSE TO THE OFFER THAT THE COLT FACTORY WAS HAVING A HARD TIME FULFILLING THE ORDER ON TIME. I DON'T RECALL HOW MUCH TIME ELAPSED BEFORE ACTUALLY RECEIVING THE GUNS, BUT IT WAS LESS THAN A YEAR. I TOOK THE GUNS HOME AND EXAMINED THEM AND ALL LOOKED FINE. I STORED THEM AWAY AND GOT THEM OUT OCCASIONALLY TO CHECK ON THEIR CONDITION. THEY REMAINED STORED UNTIL A COUPLE OF YEARS AGO WHEN I GAVE THEM TO MY SON. WHILE THEY WERE IN MY POSSESSION THEY WERE NEVER FIRED OR LOADED." The son also states that he has never even removed them from the case. SPECS FOR BOTH REVOLVERS: Glossed American walnut presentation-style grips with raised checkering & gold Rampant Colt medallion inlays on each side, 6" vent-rib barrel with full length lug & shrouded extractor rod, adjustable rear sight pinned to the channel, dual-pinned ramped front sight, polished royal blue finish, serrated hammer and six-shot swing-out cylinder. CONDITION: Both of these revolvers are in beautiful same-as-new condition with no wear, both bores are perfect and both appear to be in good working order. Both of these revolvers come with the original boxes & paperwork. The boxes have been stored in an attic and are not pristine, but both are in good/complete condition with no missing tabs and original Styrofoam. According the Colt Collectors Research Forum, of the reported 3,000 sets issued by the bank only a couple are known to have survived in complete/ unfired condition. These unique Sets of Colt "Snake" Double Action Revolvers have become a "must have" for all serious investment grade collectors, and in 2023, an unfired set sold for over $19,000. SHIPPING - We offer free shipping anywhere within the continental US. All firearms must be sent to an FFL (or C&R if applicable) regardless of age or caliber. This includes antiques & muzzleloaders. PLEASE READ ALL TERMS BEFORE PARTICIPATING: There is no live crowd, no phone bidding, no left bids and we do not accept payment through the mail.

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This item is part of Firearms & Early Military Assets
 Friday, May 2, 2025 | 10:48 AM  Central
 
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1982 Colt Python & Diamondback "Bank of Findlay Cased Set", 357 Mag./.22 LR, W/Boxes, K80536/ P55568
1982 Colt Python & Diamondback "Bank of Findlay Cased Set", 357 Mag./.22 LR, W/Boxes, K80536/ P55568
Lot number: 19
Seller: Will Sullivan Auction Co.
Event: Firearms & Early Military Assets
Ends: Saturday, June 14 | 10:09 AM  Central

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