A very nice Payne Model 103 fly rod, 8', 2-piece, 2-tip, and built for a #5 or #6 line. Excellent original condition, with all sections full length and straight. A scarce model that you don't come across often. Medium fast dry fly action. The rod weighs 4.6 ounces on my scale. Beautiful Payne medium colored cane. Chestnut wraps with gold tipping and gold and purple tipping at the winding check and male ferrules. Oxidized ferrules. Hook keeper. 6" half wells grip with moderate soiling and a few minor scrapes here and there. Someone also appears to have slightly sanded down the edge near the top of the grip. Aluminum uplocking screwlock reel seat over a spanish cedar spacer. The locking ring has the Payne trademark stamp. The rod packs into a replacement bag and the original tube with brass fittings and about half of the label intact. A fine example of a scarce model.