A superb original condition Payne 201. Originally made in the late 1940's and went from the original purchaser to the current consignor. Uplocking screw lock with spanish cedar insert. Western style grip with little-to-no soiling. Brown wraps with yellow edges and an agate stripping guide. Oxidized ferrules with a microscopic amount of brassing on the ferrule welts. Ferrule plugs. Ferrules are tight and clean and the rod is straight. Rod action is an excellent medium crisp DF. Comes with the original tube, however the bag has no hanging tag and so may not be original. A very rare find in this condition.