Winchester Model 1892 Saddle Ring Carbine 20” .38 WCF Lever Rifle 1929 C&R
SOLD FOR: $1,425.00
LSB#: LSB250930TS012
Make: Winchester Repeating Arms
Model: 1892 Saddle Ring Carbine
Serial Number: 989699
Year of Manufacture: 1929
Caliber: .38 W.C.F (.38-40)
Action Type: Lever Action, Full length Tubular Magazine Fed
Markings: The left side of the barrel is marked “-MODEL 92-”, “WINCHESTER / -TRADE MARK-”, “-38 W.C.F.-”. The left side of the barrel is marked “MADE IN U.S.A.WINCHESTER REPEATING ARMS CO. / –NEW HAVEN.CONN.-”. The top tang is marked “WINCHESTER / –TRADE MARK– / -MADE IN U.S.A.-”. The top of the barrel and receiver are each marked with the Winchester Oval WP proof. The bottom front of the receiver is marked with the serial number “989699”.
Barrel Length: 20”, Round
Sights / Optics: The front sight is a beaded blade pinned to a raised block integral to the barrel. The rear sight is a ladder sight dovetailed to the barrel presenting a fixed u-notch when down and a sliding u-notch when up. The tang is drilled, tapped, and filled for a tang sight (none present).
Stock Configuration & Condition: The stocks are refinished 2-piece smooth wood with banded forend, straight grip, straight comb, saddle ring and steel carbine-style buttplate. There are two small repaired cracks in the right wrist near the receiver. The buttstock has several rectangular panels likely from previous repairs of cracks. The forearm display modest handling wear with scratches and compression dings typical of its age. The LOP measures 12 3/4″ from the front of the trigger to the back of the buttplate. The plate has gone to a moderate patina with surface erosion. Overall, the stocks are in about Fair condition.
Type of Finish: Blue
Finish Originality: Refinished
Bore Condition: The bore is bright with defined rifling. There is some minor erosion in the lands present. In this writer’s opinion the bore rates 7/10.
Overall Condition: This rifle retains about 70% of its current metal refinish. The balance of the finish shows thinning on the leading edges and at the muzzle. Most of the receiver has taken to a light patina with swirl marks and scratches. The action shows operational wear. The screw heads range from sharp to tool marked with usable slots. The markings are clear. Overall, this rifle is in Fair to Good condition.
Mechanics: The action functions correctly. The hammer has a half-cock safety position. The trigger is crisp. We did not fire this rifle. As with all used firearms, a thorough cleaning may be necessary to meet your maintenance standards.
Box, Paperwork & Accessories: None.
Our Assessment: Winchester’s Model 1892 quickly earned a reputation as one of the smoothest and strongest pistol-caliber lever actions of the late 19th and early 20th centuries. Designed by John M. Browning as a refined, more compact successor to the Model 1873, the ’92 incorporated improved locking geometry and modern metallurgy for its time, allowing it to handle higher-pressure cartridges with excellent reliability. By the 1920s, the Model 1892 had become a favored companion rifle among ranchers, woodsmen, and working horsemen who valued its light weight, dependable cycling, and quick handling characteristics. Chambered in .38 W.C.F. (.38-40), a cartridge introduced in 1879, this rifle offered a versatile balance of mild recoil and practical field effectiveness, particularly for small- and medium-game hunting or general-purpose carry.
This Saddle Ring Carbine reflects decades of use and preservation, showing honest wear and layered character. The metal surfaces retain about 70% of their current refinish, with thinning on the barrel’s high points, patina on the receiver, and scattered swirl marks from past cleaning. The refinished wood stocks tell an even fuller story: repairs at the wrist, rectangular reinforcement patches on the buttstock, and modest handling marks all suggest this rifle lived a long working life before entering the collector market. Despite its service wear, the bore remains bright with defined rifling, rating a respectable 7/10, and the action operates correctly with Winchester’s characteristically smooth cycling and crisp trigger pull.
As a pre-64 Winchester ’92 with saddle ring, correct carbine features, and a 20″ barrel, this example carries the essential elements collectors look for, enhanced by the authenticity of a rifle that clearly saw real use rather than quiet storage. Its refinished condition and wood repairs place it in the Fair to Good category overall, yet it still retains the feel and function that made the Model 1892 one of Winchester’s most enduring designs. Please see our photos and good luck on your bid!
BF/MA
