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Rigby, 500 is right on. I don't recall the year when they switched over to marking the size in inches, but I have it around here somewhere and recall reading it recently. I'll let you know when I find it.
Bob

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I believe it was in 1887 or 1888 they changed it. Someone on the Accurate reloading.com stated that in a post..maybe .400 Nitro came up with the post?..I`LL check for sure