Looking at an 1860s Putnam tomorrow

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I currently own only a small metal lathe, but stumbled on an 1860s Putnam. Apparently, the seller has several lathes and I got confused on his original description, because I thought he said is was half the size of a car. Speaking to him again today, I learned that it is 'about 3 to 4 feet long'. I've hunted high and low, but every Putnam I've seen is VERY large. Any idea what this might be? More than anything, I'm wondering if a very old lathe like this would be of any use to a hobby machinist. I certainly don't need a large paper weight. Picture attached.

Thanks

Jim

Screen shot 2012-03-19 at 11.53.14 PM.jpg
 
If part of your machining hobby includes antique machine restorations, of course it is of some use. On the other hand, you just need to bear in mind that it will be a relatively low speed machine, being that age. Not that you couldn't run a higher RPM motor, but the bearings in the headstock are probably not good for high speed. Many hobbyists cut aluminum, and that likes high speed. Larger, steel parts cut with HSS will fit that machine, but hardly suitable for clock parts, for example.
 
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