During 1915, Ithaca Gun Company replaced New Ithaca Gun, with model it referred to as our new model two bolt hammer gun". New hammer gun had coil springs powering external hammers. The "two bolt" lock up was accomplished by a bottom bolt and top lever engagement, with rear nub of rib extension. Lower grade models were marked on both sides of frame, with a setter dog and logo "Ithaca Gun Co.". The 1915 catalog is last year hammer guns were advertised, but old records indicate a few were sold as late as 1919.

Grades offered were X, A, AA, B, C, D and E. The 1915 catalog advertised a price of $29 for a Quality A model and $150 for elaborately engraved Quality E. All grades were available in 10-, 12- and 16-gauge. Like the New Ithaca Gun, grades above Quality B are seldom encountered and an expert appraisal is recommended. 16-gauge guns command a 30 percent price premium. Extremely rare 20-gauge model requires an expert appraisal.