An EF Payne bamboo fly rod, 8'6", 3-piece, 2-tip, and built for a #5 line. The rod weighs 4.4 ounces on my scale. It is in fully original condition, full length, original guides, tip tops, and wraps. The varnish I would rate as "fair" due to bag impressions and some chips, though none appear to go down to the cane. My guess as to the manufacture date might be 1920's. The rod action is a tad slower than medium. Chestnut colored flamed cane. Brown wraps with black edges at all wraps with an extra band of yellow and purple at the keeper and male ferrules. The stripping guide is an orange agate. The snake guides have a higher slant that typically dates to the late 1920's or early 1930's. The guides do not show much wear at all. The ferrules are beautiful pot belly style and retain their strong definition with nice sharp corner. They retain 95% of the original oxidation. The cork grip is 5 1/2" long and shaped to Payne's early style, a fairly blunt cigar. The grip has never been cleaned and has a lot of hand soiling and age related darkness. The reel seat wood is straight grain spanish cedar and has a few faint ring impressions. The slide ring retains only about 25-30% of its original oxidation. The cap has the earlier die stamp "EF Payne / Rod / EF Payne Rod Co / Maker", and on the reverse "Sold by, Abercrombie and Fitch, New York" with some edgewear to the oxidation. The rod comes in the original olive poplin bag but no hang tag. The tube is also original but has no felt or data sticker.