Im "told" Colt will do it, but I dont know what it would cost. Im in the same position -almost- Ive got a Colt Trooper MKIII on lay-a-way from an auction. The price was too good to pass on even though the nickel is badly worn on the barrel. Im actually thinking of having it stripped and then given a high polish blueing, but thats just me. Numerous Smiths can do the removal and re-nickel, but if you have Colt do it, then the value wont be lost, it will still "letter" as a factory refinish. Im guessing the initials can be buffed out at the same time, as well.