This Winchester rifle was one of the most popular lever-actions the company ever produced. This is the "gun that won the West" and with good reason. Chambered for the more powerful centerfire cartridge, .44-40. Compared to .44 Henry, this cartridge was twice as good. With the introduction of single-action Colt pistol in 1878, chambered for the same cartridge, the individual had the convenience of a pistol for protection and accuracy of the Winchester for food and protection. The .44-40 was the standard cartridge for Model 1873. Three additional cartridges were offered, but were not as popular as .44-40. The .38-40 first offered in 1879 and .32-20 introduced in 1882. In 1884, offered in .22-caliber rimfire, with a few special order guns built in .22 Extra Long rimfire. Approximately 19,552 .22-caliber Model 1873s were produced. Early model 1873s were fitted with an iron receiver until 1884, when a steel receiver was introduced.

Model 1873 was offered in three styles:
1. Sporting Rifle: 24" round, octagon or half-octagon barrel. Equipped standard with a crescent iron buttplate, straight-grip stock and capped forearm.
2. Carbine: 20" round barrel. Furnished standard with a rounded iron buttplate, straight-grip stock and carbine style fore-end fastened to barrel with a single barrel band.
3. Musket: 30" round barrel. Standard musket furnished with a nearly full-length forearm fastened to barrel with three barrel bands. Buttstock has a rounded buttplate.

Upper tang was marked with model designation and serial number was stamped on lower tang. Caliber stampings on Model 1873 are found on the bottom of the frame and on breech end of barrel. Winchester discontinued Model 1873 in 1919, after producing about 720,000 guns. Winchester Model 1873 was offered with a large number of extra-cost options that greatly affects the value of this gun. For example, Winchester built two sets of special Model 1873s: 1-of-100 and 1-of-1000. Winchester sold only eight 1-of-100 Model 1873s; and 136 of 1-of-1000 guns that were built. In recent years, some of these special guns were sold at auction and brought prices well in excess of $100,000. Prices listed here are for standard guns only. For Model 1873 with special features, it is best to secure an expert appraisal. Model 1873s with case colored receivers will bring a premium.