A nice EF Payne model 204 fly rod, 8'6", 3-piece, 2-tip, built for a #5 or #6. Medium fast action. This is one of the best known of all Payne models and certainly one of the most versatile. 4.5 ounces. The rod is full length and the grip is uncleaned but the rod has been re-wrapped and varnished. Wrapped brown with black edges. Agate stripping guide and the top snake on the butt is a heavy wire high slant, different from the standard snakes of the mid and tips. The ferrule fits are good and the oxidation is 95% intact. However the oxidation on the agate stripper, both cork checks and the reel seat cap and ring are 95% gone. The grip is 5 1/2" in a medium cigar profile and appears original and uncleaned. FAS walnut slide band seat with the older "E.F. Payne, Rod, EF Payne Rod Co, Makers" stamped in a cartouche. The rod is straight and read to use. It comes packed in an olive poplin rod bag that is original (though missing the hang tag). It also comes in the original Payne aluminum tube with the grey felt in the cap.