This is a late production Colt New Line Revolver in .32 Colt Centerfire. Serial number is in the 18,000 range which dates its production to approx. Mid-1882. 2-1/4" barrel with nice etched panel that reads "COLT NEW 32". Nickel plated finish with blued appointments and those scarce hard rubber grips which you almost never see on a New Line.
Introduced in 1873, the Colt New Line was offered in several different calibers but due to a flood of cheaply-made pocket revolvers by low-end competitors, all versions of the New Line except for the .32 had been discontinued by 1880. From 1880, the .32 was produced in small relatively small quantities (about 1,000 units per year) until production was discontinued in 1884. This was just long enough to see Colt make the switch from walnut and rosewood grips to the checkered hard rubber composition grips. We see this switch across the board on all Colt Models from the Single Action to the Colt Lightning...but it's really neat to find one of the last New Lines. I don't know how many they made with these but not many. From past experience, I will have to look at dozens and dozens of New Lines before seeing one with hard rubber grips turn up.
Overall Condition grades to NRA Antique Excellent. Barrel retains 95% original nickel, frame 80%, cylinder 97%, and 30% on the gripstraps. Hammer profiles still retain much of their bright polish with 80% fire blue on the rear panel. Several of the screws also retain generous amounts of original blue. Grips are nearly excellent with flawless profiles. No chips, cracks, or repairs, but a few small dings on the butt where someone used the handle as a hammer. Excellent Mechanics with a Fine bore! Nice little Colt in a scarce late production configuration.