Yes you are right. But the Henry was not a cheap weapon to purchase even back then. A new Henry went for right around, fifty, 1860s era dollars. That was quite a chunk of change back then. Many of those rifles were bought by other men in the units when the owner was killed or too badly wounded to reutrn to duty.
Amazing what those weapons bring now. Several years ago there was an original Henry military rifle belonging to one of the men from the Illinois infantry regiments on display at Mansfield, Ohio. It was for sale, the asking price was 46,560 dollars! Gent had another one there and it was priced at just under 53,000.
Just abit steep for most of us I think....

My references show that Custer's and Merritt's Division's at the Battle of Cedar Creek totalled 20 regiments. At least ten of those regiments were armed with Spencer carbines:
5th, 6th, 7th Michigan Cavalry
1st New York Dragoons
2nd Massachusetts Cavalry
1st Connecticut Cavalry
3rd New Jersey Cavalry
5th New York Cavalry
2nd Ohio Cavalry*
18th Pennsylvania Cavalry

The other regiments were armed with single shot breechloading carbines:
4th, 6th, 8th, 9th+, and 22nd New York Cavalry
1st, 2nd, 5th U.S. Regular Cavalry
3rd Indiana (Several Companies) Cavalry
1st New Hampshire Cavalry
1st Vermont Cavalry
NOTES: * My great-great uncles served in the 2nd Ohio during this time.
+ THe 9th New York was originally assigned Sharps carbines but were reissued Sharps and Hankins Carbine which took a metallic cartidge vice a paper or linen type round. The 11th New York Cavalry also was issued this weapon.

It really makes me wonder which companies of Buford's troops the morning of 1 july 1863, were armed with the Spencer repeating rifles and where their position on the line was? Even with the majority of his troops armed with Sharps, Burnsides, Smiths and Ghalaghers, they did a superb job of holding Heth's infantry until Reynolds and the First Corps could come up.
Buford"s and most of the Federal Cavalry units involved in the Gettysburg campaign were less than 50% manned. Ironically the one unit that had the most troops belonged to George Armstrong Custer.
I personally feel that John Buford got the short end of the stick when it came to recognition for the Union victory. He did a superb job of delaying the Confederates until help could arrive. I guess with the Union retreat through the town and other mistakes that occured, Buford had to bear some of the blame for the failure of the first day.