Capone, the boss of the Chicago Outfit, obtained the gun in 1928 while he was living part time in a palatial estate in Miami Beach. While there, Capone decided he needed some extra firepower for protection. He had a friend, hotel manager Parker Henderson Jr., purchase six revolvers and six shotguns from a Miami pawn shop, which had procured them from Wolf & Klar.

Capone was arrested in Miami that year on a minor charge. While searching his house, police confiscated the pearl-handled .38 revolver that was among those Henderson had purchased for him.

This gun was seized by the IRS after a Police Captain gifted to one man, who then gifted it to another man, who then sold it to the propertier of an illegal casino which was raided by the IRS in 2004. It is now on display in the Mob Museum in Los Vegas, Nevada.

Al Capone owned several other firearms including this Colt 1911 pistol which sold at auction for $1.04 Million and this Colt 1908 .380 that he carried frequently which sold for $240,000.