Another thought......if we get back to the Texas cowboys heading up to Kansas on the trail drives, although they didn't get paid much- it all came in at the end of the trail. It must have been a fair amount of cash because of all the gamblers, dance hall girls, and other souls in various states of grace that showed up in such places to rid the cowhands of their hard earned pay. In any event it seems that they must have had enough cash to buy a nice revolver if they wanted to. Some revolvers had better grips, engraving, etc- probably more for the trail boss, etc.
I think the same can be said about the famous "$100 saddle on a $20 horse". The cowpokes were likely pretty easy with the cash when they got their hands on it.
I think both Colt and S & W have company historians. You send them $10 or whatever it is these days and they tell you Grandfather's Colt or S & W with serial number XYZ was shipped to Smith's hardware, Silver Cliff WY Terr 18XX.
In any event the amount of guns shipped West versus the population in the West could probably be compiled to get an accurate count on how many guns per person were in the area.
In the 1900-1910 period even my Grandmother went around with a small handgun for self defense. I think it was pretty common in those days.