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Winchester is showing that the sights are "folding ladder rear sight with Marble Arms gold bead." So it does fold and stand straight up.
Honey this does go up and down. Okay.
Gary, this rifle has Folding ladder rear sight with steel blade front sight. A picture of engraved model with the folding ladder rear sight raised here : https://www.google.com/search?biw=1280&bih=596&tbm=isch&sxsrf=ACYBGNQPtgnmjUB46Dawgn57dqOsfwa7jw%3A1580172294140&sa=1&ei=BoQvXv2RCKuuytMPyvCTiA8&q=winchester+1866+Folding+ladder+rear+sight&oq=winchester+1866+Folding+ladder+rear+sight&gs_l=img.12...64605.66969..68781...1.0..0.64.311.6......0....1..gws-wiz-img.......35i39.e5mu9P-sJyI&ved=0ahUKEwj9rJrCiKXnAhUrl3IEHUr4BPEQ4dUDCAY#imgrc=fNN2gn0s3iyoUM:
