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The company that produced the Spencer rifle was the Spencer Arms Company, not the Spencer Gun Company, and they manufactured a slide action shotgun, not a single shot. It is possible that you have a post war conversion of a Spencer rifle, but not likely. It is most likely a low budget import from Belgium, marked to look like it had a better pedigree than it deserves. Value is minimal as a curiosity.

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Q: What is the value of a 12 gauge Spencer Gun Co single shot serial 197164 YM?
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