Breckinridge Elkins begins his narrative by defending his actions in Grizzly Claw, refuting rumors that paint him as a town terrorizer. His account starts with a chance meeting with Tunk Willoughby, who is battered and bruised after a visit to Grizzly Claw. Tunk attempts to relay a message from Breckinridge's cousin Jack Gordon about someone wronging their Uncle Jeppard Grimes but cannot recall the details due to his injuries.

Determined to uncover the truth, Breckinridge heads to Grizzly Claw, a notoriously lawless town. Upon arrival, he encounters various hostile townsfolk, including a man claiming he damaged his mule and a fake sheriff. Breckinridge's attempts to seek information lead to confrontations, escalating violence, and false accusations, including a bar brawl where he is unjustly charged for passing counterfeit money.

In a twist of events, Breckinridge learns from two criminals, Bill and Jim, that they were involved in a crime related to his Uncle Jeppard. Eavesdropping on their conversation in a cave, he discovers they scalped his uncle to sell it as a souvenir to a collector. Enraged, Breckinridge attacks them but is interrupted by a federal detective and his posse who mistake him for a counterfeiter.

The detective arrests Bill and Jim, ignoring Breckinridge's plea for frontier justice. Frustrated and vengeful, Breckinridge vows to follow the posse to exact his revenge. However, a chance meeting with Tunk Willoughby reveals the truth: Uncle Jeppard wasn't scalped in an attack but sold a prized scalp he had taken from an Indian chief years ago. The counterfeit money was the real offense.

Realizing his error and feeling manipulated, Breckinridge's anger shifts towards Tunk, whose poor memory caused the misunderstanding. The story concludes with Breckinridge reflecting on the events and the exaggerated rumors about his actions.