A nice Leonard 48-4 fly rod, 7', 3-piece, 2-tip, built for a #4 line. Hunt model. Lightly used condition with a medium to DF action. This rod is post-Maxwell, as there is no writing on the shaft, no serial # or 48-4 inked anywhere. Also, the hardware is oxidized jet black rather than pewter which was consistent with the Larry Foster period following Maxwell. Everything else is correct - hardware, check, ferrules, reel seat, cap and ring, and even the brass cap tube. Mirrored tips, flamed cane with 3 up node pattern. The wraps are the correct plum/red color.  Super varnish. 10 cork 5" slim cigar grip. The varnished mortised reel seat is stained curly maple. Correct cap and ring is stamped "H.L. Leonard Rod Co., The Rod Maker, since 1869". A small note is that the tips are ever so slightly longer than the mid and the tip-tops are the larger hoop variety.