Winchester 1892 25-20 Tang Sight, Circa 1910, 60%

The Winchester Model 1892 was a lever-action repeating rifle designed by John Browning as a smaller, lighter version of his large-frame Model 1886, and which replaced the Model 1873 as the company's lever-action for pistol-caliber rounds such as the .44-40.

When asked by Winchester to design an improved lever action to compete with a recent Marlin offering, John Browning said he would have the prototype completed in under a month or it would be free. Within two weeks, Browning had a functioning prototype of the '92. Calibers for the rifle vary and some are custom-chambered. The original rounds were the .32-20, .38-40, and .44-40 Winchester centerfire rounds, followed in 1895 by the new .25-20. 

The Winchester Models 53 (1924) and 65 (1933) were relabeled Model 1892s. Admiral Robert E. Peary carried an 1892 on his trips to the North Pole, and Secretary of War Patrick Hurley was presented with the one millionth rifle on December 13, 1932. Famous Amazon explorer Percy Fawcett carried a Winchester '92 on his expeditions and the famous jaguar hunter Sasha Siemel also used a short-barreled Winchester '92 carbine (with a bayonet attached). The Royal Navy used 21,000 examples during World War I.

The original Winchester company made 1,007,608 Model 1892 rifles. The Depression greatly affected sales of the Winchester '92, and at the start of World War II, Winchester dropped production when it retooled for the war effort. Production was not resumed after the war. Model '92 manufacture was resumed in the 1970s by Amadeo Rossi in Brazil; more recently by Chiappa Firearms, an Italian factory; by Browning in Japan; and by Winchester in Japan. In its modern form, using updated materials and production techniques, the Model 1892's action is strong enough to chamber high-pressure handgun rounds, such as .357 Magnum, .44 Magnum, and .454 Casull. Despite being designed for smaller cartridges, the 1892's dual forward locking-block action is actually stronger than Browning's rear-locked Model 1894.