The barrel inscription on the "V L" marked rifle suggests it may not be made by the young Valentine Lepley if he was only 22 years old in 1848. The "No. 45" strongly suggests this is the gunmaker's 45th produced rifle, explaining why the gun's quality was good... it was the product of an experienced gun maker. I'm not sure a 22-year-old gunsmith, just a year out of his apprenticeship, would have/could have produced 45 rifles already. Is there a signed Valentine Lepley gun with full last name, that can be used to compare and verify this rifle is his work? Without a more complete signature on a rifle, initials tend to be an attribution more than solid identification until a more fully signed gun comes along to verify the maker's work.
Shelby Gallien