Yes, the Colt army issue is a single action revolver. It was the standard pistol of the US military in the late 1800s, and is very common for people to own to this day, either passed down from generation to generation, or purchased as a collector’s item. The word “issue” in this sense, means a series that was created at a certain time for a certain purpose. It’s the same use of the word “issue” as in an “issue of a magazine”, or a “printing of a magazine”.