Image below from TJ Parmele - Image Title: Colt Lightning
Image Info: Colt Lightning missing screw and cylinder pin is tilted.

For those that aren't familiar with the 1877 Colt Lightning, the name Lightning was given to this revolver as a marketing ploy by then major distributor, Kittredge. The History of the gun is given briefly below and is sourced from Wikipedia for something quick and dirty:

"The Colt Model 1877 was a double-action revolver manufactured by Colt's Patent Fire Arms from January 1877 to 1909 for a total of 166,849 revolvers. The Model 1877 was offered in three calibers, which lent them three unofficial names: the "Lightning", the "Thunderer", and the "Rainmaker". The principal difference between the models was the cartridge in which they were chambered: the "Lightning" being chambered in .38 Long Colt; the "Thunderer" in .41 Colt. Both models had a six-round ammunition capacity.[1] An earlier model in .32 Colt known as the "Rainmaker" was offered in 1877."

The M1877 was designed by one of the inventors of the M1873 Colt Single Action Army, William Mason, as Colt's first attempt at manufacturing a double-action revolver. The M1877 was the first successful US-made double-action cartridge revolver.[2]

The M1877 was offered from the factory in two basic finishes: nickel plated or a case-hardened frame with a blue barrel and cylinder. The revolver was available in barrel lengths from 2.5" to 7.5" and was available with or without the ejector rod and housing. The shorter barreled versions without the ejector rod were marketed as "shopkeeper's specials".

Neither "Lightning" nor "Thunderer" were Colt designations, nor used by the factory in any reference materials. Both terms were coined by Benjamin Kittredge, one of Colt's major distributors. Kittredge was responsible for the terms "Peacemaker" for the Single Action Army, "Omnipotent" for the Colt M1878 double-action (often known as the "Frontier" model), and nicknames for the various chamberings of the New Line models.

The M1877's early double-action mechanism proved to be both intricate and delicate, and thus prone to breakage. The design had a reputation for failure and earned the nickname "the gunsmith's favorite". Because of the intricate design and difficulty of repair, gunsmiths to this day dislike working on them. Gun Digest referred to it as "the worst double-action trigger mechanism ever made". Typically, the hammer spring would fail and this would reduce the revolver to single-action fire only. Outwardly, the Model 1877 shows a striking resemblance to the Colt Single Action Army revolver, however it is scaled down slightly and much thinner in dimension. The standard finishes were blued, with a case-colored frame or nickel plating. The bird's head grips were of checkered rosewood on the early guns and hard rubber on the majority of later-production guns.[

The "Lightning" was the favored personal weapon of famous Manchester (UK) Victorian detective and then head of CID, Jerome Caminada. Old West outlaw John Wesley Hardin frequently used both "Lightning" and "Thunderer" versions of the Colt 1877 revolver. Likewise the 1877 "Thunderer" in .41 caliber was the preferred weapon of Billy the Kid and was his weapon of choice when he was killed by Pat Garrett in 1881.

In all, a fascinating history on a fascinating (albeit intricate and fragile design). So, GAME ON! I was expecting a week or so, and possibly a list of parts we might have to order, or even somehow scrounge.

Here's his response that he posted on Facebook later on that night:

A pair of Colt Model 1877 Double Action revolvers. T.J. Parmele - so...when does the "challenge" part start?
Kidding, of course 
The nickel one (top) has a broken/missing trigger spring, a badly bent and unbent base/cylinder pin, a heavily rusted/pitted cylinder (incl. some rust in the chambers), and some problem spots in the bore. I wouldn't even consider firing it.
The blued one (bottom) is more-or-less fully functioning and in decent condition throughout; even the lockup and timing are good. Someone's done a weld-up on the base pin release, so now the only way to remove the cylinder is to unscrew the remaining half of the release button. The base pin, ejector rod, ejector rod spring, and front trigger guard screw were cannibalized from the nickel gun. I'd be more confident in saying this one could be fired, though I still wouldn't volunteer to be the first to pull the trigger 

It only took me about twenty minutes to get the blued one up and running, and two hours to figure out all the bits and pieces of the nickel one. Its reputation as having Colt's most intricate design is well-deserved, though it wasn't terribly difficult since I've seen the innards of newer Colts, older top-break S&Ws, all sorts of modern guns, and whatnot, and already had an idea of what to expect...plus: it's a gun; how hard could it be? 

Some information on these two guns. The top one was the one that came in the ziploc bag and manufactured in 1905. The other is the one posted in the pictures above and was manufactured in 1898. I think that's a cool year due to the Spanish American War and all that. 

Image below from TJ Parmele - Image Title: Colt Lightning Resurrection
Image Info: Got one working gun out of two parts guns. Very happy one can now be shot at the range. 

The nickeled gun will be kept for parts while the other one will be taken out to the range and shot (from a distance, probably literally with a string tied to the trigger and it pulled from a safe distance).