Colonial Knife was incorporated in 1926 by three brothers; Antonio, Domenic, & Fredrick Paolantonio. It grew to become one of the largest pocket knife manufacturers in the US during the 1960s. The company shut down in 1998, but was back into production under the Colonial Cutlery International Corporation in 2001. Colonial Cutlery International, Inc. brand is the imported line of knives and tools while the U.S.A.- made products fall under the Colonial Knife brand.
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A medium 3-spring stockman with a Turkish clip blade, likely a 1970s-80s purchase. Not really meant to be fancy collectibles but definitely more of a working man's knife with excellent Colonial steel. We've scared up some history on those knives over the years in the forum. I've been targeting clean examples of Colonials/rebranded knives with those same synthetic stag handles as your grandfather's.
This particular thread explores the shared heritage of Sharp-branded knives that were sold in K-Mart. You'll see a version of the same knife in its original packaging here: viewtopic.php?t=51203
This one shows a range of Colonial-made Sabre USA knives using the sawcut handles instead of the "fake stag" composition: viewtopic.php?f=87&t=33434&p=587016&p587016
For my part, here are a couple of my posts (including photos) about these knives and similar ones:
viewtopic.php?f=87&t=32528&p=546893&hil ... al#p546893
Your knife should be a treasured part of your collection because of your grandfather's ownership and all the stories it can probably tell. Happy hunting!