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Mike Nichols
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We have TWO basic groups of Toy Cap Guns on this website:
Nichols Cap Guns and All Other Types of Cap Guns!
(WHEN YOU GET THERE, BE SURE TO CLICK ON THE THUMBNAILS!)

Nichols Industries Other Major Brands
Nichols Industries Cap Guns have become an obsession for some people, a good hobby for others and profitable for MANY! There are standard Cap Guns, rifles, miniatures rifles, derringers, Mustangs, Stallions and all types of other unusual cap guns.
 The other brands of Cap Guns are listed here by Company (or style). Some of the companies made so many that we have them on multiple pages, so don't miss all of the MANY examples. Plus, don't forget to click on the thumbnails in order to get some more details about the guns.


CLICK HERE TO SEE THE VARIOUS BRANDS OF CAP GUN LOGOS!

DO NOT Dry-Fire Nichols Guns without the Bullets in the cylinder as Damage may occur.






The "Basic Nichols Set"
While in many cases there are "sub-variations" within a particular type of Nichols Cap Gun, there has already been established a "standard" if you will of what comprises the "Basic Nichols Set." It is the list of Nichols Cap Guns that is in the back of my Uncle Talley's little book, A Brief History of Nichols Industries, Inc., And Its Toy Guns. He left out the minor variations and actually forgot a few of the guns that he produced, like the Klondike, but your basic collectors need to have some sort of benchmark, so I am saying here that this is what is needed. You people that have the "extras" and the variations, well, you're just SPECIAL! (and lucky!)

The guns with an asterisk ("*") use the ultra-rare 3-piece bullets. The Buccaneer just uses the red pellets.
Cap Gun Description Year
Silver Pony All metal single shot 1946
Mustang (also called Silver Mustang) Breakdown 50 shot repeater, plastic grips 1947
Silver Colt Breakdown 50 shot repeater, plastic grips 1948
Stallion 45 (Pasadena) Cap cartridge loading six shooter w/6 cartridges 1950
Stallion 38 Cap cartridge loading six shooter w/6 cartridges, smaller scale 1951
Stallion 32 Cap cartridge loading six shooter w/6 cartridges, still smaller 1955
Stallion 45 Mark II (Jacksonville) Improved version 1957
Colt Special 50 shot repeater 1957
Pony Single shot 1957
Stallion 22 Smaller, simpler version of the 32 1957
Dyna-Mite Miniature version of the Derringer 1957
Spit-Fire Mini rifle, cartridge loading, single shot 1958
Stallion 300 Saddle Gun Lever action, cartridge loading 1958
Stallion 41-40 Flip out cylinder, six shooter 1958
Pinto Flip out cylinder, single shot, cartridge loading mini pistol. In 1960 the name was changed to "Paint." 1959
Mustang 500 500 shot roll cap repeater 1959
F-500 Fury Machine gun, battery operated 500 shot rapid fire *1959
Cowtyke 50 shot repeater 1960
Model 94 Carbine, 250 shot repeater 1960
Detective 250 250 shot repeater 1960
Tophand 250 Repeater 1960
Cowman 250 250 shot repeater, later renamed Stallion 250 1960
Stallion Model 61* Replica Civil War cartridge loading 6 shooter 1961
Cowhand 250 shot repeater 1961
Derringer* Replica of original, cartridge loading, pellet shooter 1961
Model 95 **** Carbine, cap activated bullet firing 6 shot 1961
Detective* 6 shot cap activated bullet shooter 1961
Buccaneer Pirate gun, cap activated bullet shooter 1961
Pony Repeating action single shot, replaces 1957 Pony 1961
Cowpuncher Medium size, single shot 1962
Brave Small single shot 1962
Rancho Small single shot 1962
45 Automatic Army style, 50 shot repeater 1963
Tommy Gun 50 shot roll cap plastic machine gun 1963
Mustang 250 250 shot repeater 1964
*** The Model 95 is so rare that informed collectors will know that it doesn't detract from the "Basic Nichols Set" to not own one of these.
All information reprinted from the book, A Brief History of Nichols Industries, Inc. AND ITS TOY GUNS. © Copyright 1991 All Rights Reserved, used by permission. * I have purposefully changed the date on the Fury 500 to 1959 because I have seen the contest entry notices that said the Disneyland Contest ended on January 13, 1960 and nobody in their right mind would release a Cap Gun on January 1st or later and then make the contest end only 2 weeks later. Therefore it had to come out earlier than the 1st of January, which would make it 1959. Correct me if I'm wrong.


Difficulty Level Of Finding Nichols Guns
Unlike the Basic Nichols Set above, this list is going to include all variations of every single Nichols Cap Gun—except the guns that are "strictly Kusan" models (i.e. didn't appear until Kusan took over). Please feel free to write in and submit your own thoughts on any of these, as to where they ought to be placed etc. The most difficult to find Cap Guns are at the top of the list. The most expensive are not necessarily at the top of the list. Just the hardest to find. (Mike Nichols basically makes the rules for this list, but I'll certainly listen to you.)
Cap Gun Reasons why hard (or easy) to find
Super Rare Stuff There are some "fringe" Nichols guns that were either made as prototypes, limited runs, one-of-a-kinds and such that you just can't put a price upon. Examples are the Pony Express made for the Fina Oil Company, the Stallion 38 MK-II, some company-sanctioned gold plated models and some cap guns that never made it to production at all. Though these are not part of the "Basic Set," I always count them authentic if they were made at the Nichols plant by the Nichols staff. For most of this unusual stuff there are no boxes. It's hard to put any kind of value on these types of cap guns, as they are not known well enough by the public to have a high demand in the hobby overall. Just the super collectors want them.
Klondike This gun was only made for about a year and was made strictly in response (licensing arrangement) to the NBC television show "Klondike." When the show was pulled, then the gun was discontinued. Couple this with the fact that Nichols was getting ready to be in a transition state to the new ownership by Kusan and there wasn't any serious marketing. At the same time period kids were quitting playing with Cap Guns and this gun cost more. Extremely rare!!! There are boxes for this out there somewhere.
Stallion 44 When Klondike, the TV show ended, some enterprising Nichols employee must have suggested that they take the Klondike and re-label it the Stallion 44. There were VERY few of these made and most collectors don't even know it exists. Some were sold to 3rd parties and fitted with wooden grips.
Model 95 Carbine This rifle is hardly ever seen. I don't have one. Send yours to me! Add to that the fact that there are pieces of this one and you have a bad situation for collectors. The bullet clip could easily be lost. And the 3-piece SHOOTING bullets are rare—even if they do fit several other Cap Guns. And finding the box? Almost unknown! Rich is laughing!
G-45 Stallion 45 MK-II, Gold Plated, Limited Edition For all practical purposes this ought to be the most valuable Cap Gun ever made in the history of the universe! However, it is also forged sometimes, so beware! It is basically a very fine example of the Stallion 45 MK-II. On some of these the cylinders were finely polished and some of the other parts too. Since the grips for this gun are unlike any other Nichols model, that makes it even harder. There are a few dozen bad examples out there, but then there are a few of the really fine ones in which the lucky (read; SMART) owner has taken care of it to keep from rubbing the gold plating. And the box! Well, the box is even more rare, as it had a special gold stripe around it that told what was inside. I need a box! Uncle Talley gave me mine in a standard MK-II box, but then I have no intention of selling it, so what does it matter? If you are smart, you will have a letter of provenance typed up for the "lineage" of your G-45 and have it notarized to prove authenticity.
Gold plated Heirloom Dueling Set of twin Model 61 Stallions These are obscenely expensive and I have never seen a set in person, but have only seen the nice photos that Jim Manning sent me of his. In addition to the Stallion Model 61 being rare, and the bullets being rare, the Heirloom box is one of the basic things that makes this set so rare. Boxes are "perishable!!!" In the extreme. So this set has everything that goes for EXPENSIVE and hard to find.
Gold plated Stallion 32, G-32 There are not very many of these left and I'm not sure what they are worth, but it must be a lot and you will have a terrible time finding one of these for sure! It also had a box with a gold stripe on it designating the model number.
Fury 500 From here out on this list there is bound to be a lot of controversy and that's good. But one of the most difficult to find in great shape is the Fury 500. Reasons? Well, it was the only Nichols Cap Gun that ever used batteries and that alone makes for a mess if the batteries got corroded. And there was a battery cover. And there was a removable magazine! So, before it was recognized that these were going to be collector's items, people THREW THEM AWAY! Ugh! Add to that that they had a (now) rare box and even an outer carton that is quite valuable. Now you're talking some big bucks. And also, one half of this gun was metal and the other half plastic. Another unique feature. It also has the Gold Circle "N" inserts like the G-45.
Detective There are 2 versions of this gun and both are rare and valuable. Reason? Well, besides scarcity, it is one of those guns that shoots the red pellets. All Nichols guns that shot the red pellets are valuable for those 3-piece bullets and all except the Derringer have become quite expensive. While not all Nichols guns came in a box, this one also came in a Detective Kit. That makes it even more valuable in some cases.
Stallion Model 61 I have listed it just below the Detective, for I just don't see very many of the Detectives offered, but I do see more of the 61's. The chrome version of this is more valuable than the blued version, but Nichols made some of these for Daisy that are really expensive!
Stallion 45 MK-II Well, you just have to put this Cap Gun somewhere, so I'll put it here. Though a pristine example of the Mustang 500 might be harder to find, examples of this gun in the blue and silver box that are PERFECT are quite difficult to find. Too many boxes are crushed or stained, etc. The Stallion 45 MK-II box is the only one like it ever made in the Cap Gun world. Experts have declared this the "King of the Die-Cast Guns" and I am not going to argue with that. Makes me proud. The variations, like the blued or black versions or ones that came with a Dyna-Mite are just others that are hard to find. But this is a KEEPER!
Mustang 500 The most valuable ones have a gold latch, trigger and hammer. What sets this gun apart and makes it hard to find is the fact that, even though Uncle Talley was very proud of it, it had a design flaw in the hinge. It is a big gun and it was difficult to make a 500 roll of caps fit into it, so every bit of space possible was devoted to that section. And the hinge was weak. Being weak made it warp a little and then the latch wouldn't work properly or the sides didn't match up. But still, this is a very fine Cap Gun and it also has the same Circle N inserts as the Stallion 45 MK-II. It also came in a fine lithographed box and finding them together in perfect shape makes it rare and expensive.
Stallion 300 Saddle Gun This was one of those guns that lent itself to abuse and therefore models were thrown away. It also had a lot of plastic to get broken or scratched. And some tricky moving parts. Plus it had a fine box that was an unusual shape. Put all of this together and you will pay a premium for a perfect example. A curiosity is that there was a card inside that, if you mailed it off to the factory, then they would send you a free bullet clip that would go on your belt. Not many of these bullet clips are left and they have become valuable in their own right. Put all of the features of this model together and you have a real prize.
Stallion 41-40 This gun is valuable—both for the gun and the display-type box. The box was made so that you could punch out the back and make a display for the counter. But the gun has some of the finest scrollwork of any Nichols Cap Gun. There weren't as many of these made as some of the other models and so the prices and scarcity has remained a little high. Sometimes the lever is broken off that allows the cylinder to swing out to the right and that has made the pristine models even more valuable. This gun has a lot of working parts! If you can find one with grips that have a lot of swirl in them, then all the better.
Silver Mustang This gun came in a few variations and was the second Nichols model. I'm not sure which version is more valuable, the one WITH the ruby or the one WITHOUT the ruby, but I've seen both and also a black-gripped version. Having one with a nice box is what makes this one valuable and hard to get.
Silver Colt Though there are a few examples of this gun out there without the scrollwork that sets this gun apart from all of the rest, most will have the scrollwork. Those that don't are definitely more valuable. This gun, like all of the early models is so old that there just aren't a lot of them available. It had a reasonably nice box that is also quite collectible.
Silver Pony Though this is not a fancy Cap Gun by any stroke of the imagination, there just aren't many examples left—especially of the box. and most of the examples you will find will have an extra screw or something that spoils them. Finding one that is just perfect is going to require some searching AND some money.
Model 94 Rifle This rifle is mostly made of plastic and it only about 2 feet long, so it is not a very fine example of a Nichols toy. However, it has become quite scarce. It can be found in several versions of packaging too. Some come in a set with a couple of Cowpunchers and a holster and some are basically by themselves. Hard to find.
Stallion 38 There were more Stallion 38s sold than there were Stallion 45s. However, it is still good to find one in perfect shape with the box. The Pasadena versions are worth more than the Jacksonville versions. There are also a few examples that were copper plated or blued and these are hard to find.
Stallion 32 Like the Stallion 38, the Stallion 32 comes in both a Jacksonville version and a Pasadena version with the Pasadena version being worth more. With both guns, the dull versions that were made during the Korean War when Nichols was scouring the country to find zinc alloy in carburetors and such, are more valuable. This gun also had a box.
Colt Special From here on I may be guessing a little, as the rest of these guns are more available, but you just don't see near enough Colt Specials running around. And with the lesser guns, as I have said on some of the pages, since they weren't cared for, finding one in perfect shape is still going to cost you some money.
Mustang 250 Seen less and less these days is the Mustang 250—especially one in good shape. Like most of the guns of this era you could find it in versions that were painted.
Derringer Oh, I could have put several guns right here, but the secret of the Derringer is to find one WITH the 3-piece bullet. They also came in blued and even copper versions.
Buccaneer This gun is not particularly hard to find BUT the little ramrod that goes into the front end, under the barrel is extremely difficult to find. And this little gun also came in a blond version that was blued.
Detective 250 The Detective 250 is pretty common, but there is a chromed version that isn't so common. See if you can get both models.
Spit-Fire Though this is an often seen Cap Gun, the front strap is usually loose or missing. And there are several versions of holsters. Like the Dyna-Mite, these also came in nice cardboard boxes. There are plenty left, but it is hard to find one that is perfect on all counts. There are also some versions that don't have a forestock and there is some controversy as to whether these were made first or last, in the Kusan days.
Dyna-Mite Basically the same things can be said of the Dyna-Mite that is said about the Spit-Fire. And it also comes in blued versions and gold-toned versions. This is the best selling Nichols Cap Gun that there ever was and so naturally plenty of models still exist, but if they are new and in a flawless box, they are still worth a pretty penny.
Tommy Gun This is not an expensive gun, but it is reasonably hard to find one that hasn't been used. And since it is not one of the great guns, then not many were counted as valuable and so now they are.
Others I'll just say that the rest of the group are valuable, but not very. The Brave and Rancho are certainly the cheapest, but then when you find one on a card that is new you will pay a little more. The same goes for almost all of the variations. Find them new on a card and you will have one that is more valuable.






Service Policy
Back in the early years, when Nichols Industries was in Pasadena, you could return your cap pistol to the factory and get it repaired. The quality of the guns was high, so there weren't actually many returned. My dad was in charge of most of the repairs, and one time a youngster in Perth, Australia wrote him a letter asking what it would cost for shipping, as he had a small pistol to fix, but couldn't afford a Stallion 45. Now my dad had been on a troop transport to the Middle East in World War II, and they stopped in Perth, Australia. They had gone ashore for some reason and were marching and were FAMISHED! Suddenly, as they marched past a farmhouse, a lady came out with a couple of bushels of apples and said, "Hey boys, do you want some apples?" Boy did they! My dad remembered this and in gratitude, mailed a brand new Stallion 45 to this young man with his compliments. Thank you Perth, Australia. I first heard this story when John Glenn was orbiting the world and needed a navigation fix and Perth, Australia turned on its lights at night and John Glenn noticed it.
.......Thanks again Perth! —MN




Photo donation by
Jamie Linford



This is one of the better Nichols Cap Gun displays that I have seen. It takes a lot of bidding, a lot of estate sales and a good sharp eye for value to realize a dream like this. The quality and variety is really hard to beat.

The BEST display? Well, I just hope you see it some day. And it's behind glass as well.

One of the best things about this set is the rare versions of certain guns. Nichols made most of the guns in blued or other variations in small quantities. Now they are some of the hardest to find.

Again, thanks to Jamie Linford for a wonderful photo. Jamie even got Uncle Talley to sign the wooden dealer display board!
Dealer Sales Boards like this sort of chew me up. Why? Because it would have been (easily) possible to obtain these years ago when nobody was paying attention to whether or not Nichols Cap Guns would become collectors items. And now they're worth a small fortune. (not small enough for me!)

Read: I'm Jealous!!!

This is one of the nicest examples I have ever seen of this type of board, with mint examples.

Nichols Industries made several different types of these sales boards to help dealers and stores promote the Cap Guns.

Thanks to Dan and Karen Dozier of The Toy Tent for this wonderful photo.

At the bottom of every page is a Circle "N" Logo and when you click on it, it will take you back to the top of the page.



Many people would have a difficult time telling the toys from the real thing! In this photo, can you tell? Time's up! The second from the top is a 125th Anniversary real Colt 45. The second from the bottom is a Ruger Single-Six 22. If you picked the bottom one as real, then you lose! It is a Daisy Model 179 BB gun. From the top: Stallion 45 (Pasadena version), Colt, Stallion 45 MK-II, Mustang 500, Ruger, Daisy BB gun. As Jim says, the Stallion 45 MK-II and the Colt are almost "Dead Ringers." I personally think that my dad and Uncle Talley shortened the barrel length to save money and just keep it from being too big, but kept the other dimensions correct.

Many people have made collecting the boxes a specialty. And there are many people who collect store displays, literature and ancillary products created by Nichols. I think that people would do well just to collect the spare parts so that guns that aren't perfect could be brought up to specifications.

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