I bought this saddle from an 'old horse trader' over 30 years ago and used it every week for nearly 10 years. It is the best trail-riding saddle I've ever been on. Made in the early 1900's. I recently had it professionally cleaned with new shearling, strings and stainless steel studs (old studs were of a metal alloy and tarnished badly). When I got this saddle the Fred Mueller logo was very faded and with the years & wear it is difficult to see on the back medallion. I was told all of the conchos are silver, even large ones on fenders.