Steel Horse! good to hear from you. I was waiting for you to notice this post. The back strap is steel. I had always though the military stamps weren't applied till the military took possession and inspected the piece. A stamp of approval.
Good to hear from ya, Pard!
Well, by all I've heard & read, the Military models had steel backstraps, so without checking the serial numbers, I'd say that one was Military issue at one time. Certainly the cartouche on the grips adds to that. I think I can see the breech cutout for the stock attachment, right? Do you have a stock to fit it? They are
probably more expensive than the guns, if original, I'll wager! I know both Civ. & Mil. models often had the cutouts.
Well, it sounds like you may have gotten the "Deal of the Year." Check with Raven or Walt Kirst or some other folk who are experts on
real Colts, and maybe you could Zip-Strip (or the nicer to use, but slower orange stuff) the varnish off that grip, then re-oil it without hurting any value. Or simply leave it alone.
Whatever you do, you sure got a great one at that auction.
And your new gun is cool, too!
(Say "Hi" for me.
)
Jeff - SHB