Issue run, patent and serial numbers and condition determine the value of a Colt Woodsman. Woodsman guns were made between 1915 and 1977, with three distinctive issue runs during that span. Identifying the issue run by the gun's features places it in a certain time period and determines value.
Patent numbers and dates are marked on guns made previous to World War 2. Woodsman guns without the words "The Woodsman" or with serial numbers lower than 34,000 are considered highly collectible. Serial numbers assign the gun to its model. Older models in good condition and newer models with the original box intact are valued higher.