Samuel Colt

In 1856, he married Elizabeth Jarvis, the daughter of the Rev. William Jarvis, in a lavish ceremony complete with fireworks and rifle salutes. The couple had four children.

Colt was always under immense stress because of his work and suffered from various health problems. He died in 1862, aged just 47.

Samuel Colt was born in Connecticut to Christopher Colt, a farmer turned businessman, and Sarah. His mother died when he was young, and his father, who managed a small textile business, remarried a couple of years later.

Young Samuel attended school while working part time with a farmer. At the age of 11, he discovered the scientific encyclopedia, ‘Compendium of Knowledge’ from where he read about various inventors who accomplished things that were once deemed impossible.

He began working in his father’s textile plant at the age of 15 where he conducted many experiments using the factory tools, materials, and the factory workers’ expertise.

In 1830, he embarked on voyage aboard the ship ‘Corvo’. He was fascinated with the ship’s wheel that was controlled with a clutch—this gave him the idea that a similar mechanism could be used on a handgun.

While still on the ship, he designed a wooden model of his revolver and was determined to create a real gun upon his return.

He designed a gun upon his return, but it exploded on use. He did not have any additional financial resources to fund another experiment, so he began touring North America under the name of ‘Dr.Coult’ and performed demonstrations using laughing gas to earn a living.

After he had earned enough money, he hired a gunsmith called John Pearson to design a gun with a rotating cylinder that could be used to fire multiple rounds without reloading. He applied to the U.S patent office to patent his invention but was advised to first secure a foreign patent from England.

In 1835, he went to England and acquired his first patent. On returning to America, he applied for and was granted a U.S patent for his revolving gun with folding trigger, named the ‘Colt Paterson’.

He started his own business for manufacturing and selling these firearms in 1836, but could not find enough buyers to profitably run the enterprise.

He could not generate enough sales in spite of making many marketing efforts. The burden of losses increased and the company was closed in 1843.

Samuel Colt’s biggest accomplishment is the designing and development of the innovative handgun with a revolving cylinder. His created first handgun that could be used to fire multiple shots without having to reload.

He formed the Colt's Patent Fire-Arms Manufacturing Company which is in business even today under the name of Colt’s Manufacturing Company. The fact that he was able to build a highly successful company after facing huge losses in his initial business endeavors is a testimonial to his entrepreneurial abilities.