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The Ruger No. 1 came out in 1967, the No 3 wasn't made until 1972 (it's no longer in production) and was made as a low frills version of the No. 1. They both use the same action but the No. 3 uses a Winchester low wall like trigger guard and lever instead of the Farqueson style of the No. 1. The stock and barrel band is also different on the No.3 and it also uses a shorter barrel than the No.1.

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