load one bullet, then put rolled up dollar bill, then load other four bullets...then cock hammer...letting come to rest...if done properly, hammer is now resting on empty chamber...they say it was a place to safely keep a billfold and to remind one to rest hammer on empty chamber...
A Colt single action 1860 army with that serial number was made in 1866.
Your colt single action army dates to 1881 with the serial number you provided.
If it is Colt single action army, then it was made in 1889.
eBay
If this is a Colt single action army, it was made in 1874.
Look on the frame
My records indicate that your 45 colt single action army was made in 1883.
1970
around 1978
about 1907
1886
1873