Based on a John Browning patent, Model 1886 was one of the finest and strongest lever-actions ever utilized in a Winchester rifle. Winchester introduced Model 1886, in order to take advantage of the more powerful centerfire cartridges of the time. Most popular caliber was .45-70 Government.

Model 1886 Rifles and Carbines were furnished with black walnut stocks, case-hardened frames, blued barrels and magazine tubes. In 1901, Winchester discontinued the use of case-hardened frames on all its rifles and used blued frames instead. For this reason, case-hardened rifles will bring a premium. Winchester provided a large selection of extra cost options on Model 1886. Rifles with these options, a separate evaluation should be made by a reliable source. Produced about 160,000 from 1886 to 1935. NOTE: A new record price for a single firearm was established in April 2016, when a very special Winchester Model 1886 rifle sold for $1.265 million. The historic rifle with serial number 1, had been presented to U.S. Army Captain Henry Lawton following his capture of Apache leader Geronimo in September of 1886. In near mint original condition, the rifle was sold at auction by Rock Island Auction Co. to an anonymous bidder.

Rifle was available in 10 different chambers:
.45-70 U.S. Government
.45-90 WCF
.40-82 WCF
.40-65 WCF
.38-56 WCF
.50-110 Express
.40-70 WCF
.38-70 WCF
.50-100-450
.33 WCF

Model 1886s were available in several different configurations:
1. Sporting Rifle: 26" round, octagon and half-octagon barrel; full or half magazine; straight-grip stock, with plain forearm.
2. Fancy Sporting Rifle: 26" round or octagon barrel; half or full magazine; fancy checkered walnut pistol-grip, with checkered forearm.
3. Take-down Rifle: 24" round barrel; full or half magazine, with straight-grip stock fitted with shotgun rubber buttplate and plain forearm.
4. Extra Lightweight Take-down Rifle: 22" round barrel; full or half magazine, with straight-grip stock fitted with shotgun rubber buttplate and plain forearm.
5. Extra Lightweight Rifle: 22" round barrel; full or half magazine, with straight-grip stock fitted with a shotgun rubber buttplate and plain forearm.
6. Carbine: 22" round barrel; full or half magazine, with straight-grip stock and plain forearm.
7. Musket: 30" round barrel; musket-style forearm, with one barrel band. Military-style sights. About 350 Model 1886 Muskets were produced.

NOTE: Add 20 percent premium for .50 Express; 20 percent premium for case colored. Prices are influenced by caliber, with larger calibers bringing a premium. Premium for antique specimens made prior to 1899 with serial numbers lower than approximately 111193.