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Like BAR said.... That number 1 was more than likely a nice new 1 die stamp.
I've seen pictures of Colt .45's and S&W Revolvers being handed out in old pictures with them in the box. That way the...

Cool gun site shows a 1916,
Reading the info..... Is this one from the batch linked below ?

Go to:
http://www.coolgunsite.com/

Then click on 1911 Gallery, scroll down to Gov model 1916 C59xxx