Here's a link to a current Gunbroker auction where a refinished 1946 Lefever Nitro Special is being described as an O Excelsior Grade Lefever that was built between 1910 and 1916.
Keith, here's another one...
http://www.gunbroker.com/item/568551372Although I see this gentleman has amended his explanation a little...someone must have mentioned to him that he's a bit...confused.
I say BOO to that! Ignorance on the part of gun stores and even other collectors, is what makes it even possible to collect graded Lefevers, unless you a blessed with outsized wealth and can simply write checks. Almost every gun in my collection has a funny story about how I acquired it, the conversation with the seller I had, etc. And every last one was bought for a fraction of it's market value.
My favorite is still the guy (about 3 years ago) who insisted he had to have $1,000 for an early Lefever grade A...because he saw on GunBroker that [Ithaca-made] "Lefever A-Grades" in excellent condition go for that.
I complimented him on his keen sense of value and uncommon knowledge, and agreed to his price.
- NDG
