Be careful.- for that price it is probably a "cadet carbine" - made in 1905 by cutting down common infantry rifles to look similar to cavalry carbines. Value is a lot less than a genuine cavalry carbine and, although they will usually chamber and fire a cartridge, the rifle rear sight (on what was originally a 39" barrel, shortened to about 20") but only a tiny shotgun-type bead for a front sight means that rounds will impact about four or five feet high at 100 yards! US$550 would be an excessive price for a cadet carbine, in my view. Better check exactly what this is ... And don't just rely on what the seller says because the appeararnce of the two types is sufficiently similar that they are often confused by those unfamiliar with Sniders.