A superb Payne Model 101 fly rod, 7'6", 2-piece, 2-tip, built for a #5 line. The action is on the faster side of medium. A 1950s-1960s era rod in near mint condition. This beautiful rod looks to me to have been cast 1-2 dozen times. A bit of cracking to the female ferrule wrap, some micro brassing to the inner guides, and some minute hand soiling to the grip is the only evidence of use. The owner's name is written on the rod shaft at the factory and the owner wrote his name on the grip, although that is almost completely faded away. The cane is flamed and oven tempered.The wraps are brown with yellow edges and a band of purple at the keeper and male ferrules. The snake guides are bronze. The varnish is spectacular. The grip is a 5 3/4" long in a medium cigar profile. The slide band seat wood is varnished Spanish Cedar and the cap and ring retain 99% of the original oxidation. The cap is stamped "Payne" in a cartouche and "Reg U.S. Pat. Off." and on the reverse "Made for Abercrombie & Fitch". The ferrule plug is the finial style of cork and aluminum. The rod is as straight as the day it left the shop and the ferrule fit is perfect. Comes with the original bag but no hang tag and I can find no puncture mark to show there ever was one. The original tube is in great shape with grey felt in the brass cap. The 101 taper was introduced in 1950 as one of Jim's faster dry fly tapers and you won't want to miss this one, it's a real beauty.