A Colt SAA was a very expensive firearm in the 1880's. About $16.75. A real cowboy would never have been able to afford one at $20 or $30 a month. Most real ranchers at the time did not allow firearms in the bunk houses anyway.
I see plenty of soldiers bringing home less than $2K a month go out and buy $1500 rifles. Cops too. Didn't say they were smart, just that they could. Soldiers are not allowed guns in the barracks either.
Guys what's the best way?
High and out of the way enough so that it does not interfere and move up when you take a seat. You will want to attach the gun belt to an inner belt that goes through your belt loops to keep it from moving around. The holster should have little/ no movement when drawing the pistol. This will require an attachment point fore and aft of the actual holster to the inner belt and one or two on the opposite side, likely near wherever you holster your knife.
Just looking for how to wear it once I get it and not look like a jackwagon.
Not sure, my 19th Century Style sense is not so good.