When Leo Sunshine discovers the Dead Man's Gun and is mistaken for a man to be feared, he decides to play along and enjoy his new-found fame. But Wild Joe knows the truth about Leo and the powers of the Dead Man's Gun, and when he catches up to him, Leo realizes that he may have bit off a lot more than he can chew.

Phineas Newman (Winkler) is a hangman by trade. Ostracized by the rest of society for his work, he takes pride in it, and strives to be the best executioner money can by. He explains to his assistant that he does his job because, as a child, he saw his uncle hung by unprofessionals, and believes that even a condemned man shouldn't suffer. He also becomes fascinated with a gun he picks up from his latest hanging client, the Dead Man's Gun, of course. When he arrives for his next job at another town, he learns that the town, including the mother of the raped and murdered girl, refuses to believe that their Reverend has committed the crime. He goes about his duties of preparation, not caring to hear anything about the crime, and refusing to give mercy to the pleading, condemned Reverend. That night, depressed after being refused service by the town's low-life whore, he tries to kill himself, and realizes that the Dead Man's Gun and he both have the power to choose when to take life