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I have seen original 1851 Colt's with blade sights like that one has, to me the cap channel looks very odd and the frame is blued.
Now I see it Hawg, the stepped frame, not a Navy frame. The blade sights could be special ordered from Colt back in the day.
Hawg, it's amazing how you picked up on the Army frame right away, I didn't notice it until you pointed it out. You have a good eye.