For sale here is an early Payne Model 204 bamboo rod -- 8 1/2' feet with three sections and two tips for a four or five weight line. The rod is in excellently preserved condition and partially restored. Made circa 1925 by Jim Payne. All sections are full length and without repair. 

This rod is featured on page 78 of Hoagy Carmichael Jr's fine book, "8". 

Deep bronze wraps with full intermediates in the same thread color. Agate stripping guide. Blued hardware throughout. The varnish shows a bit of prior softening at some point and there are some small chips in the varnish. Ring hook keeper over a gradually swelled butt. Original cigar grip measuring 5 3/8" in length with heavy soiling and slight ridging in places. Nickel silver cap and ring reel seat over a mortised Spanish cedar spacer. The butt cap features the Payne trademark stamp. The ferrules retain an excellent fit. The rod weighs 4.60 oz. Original bag and tube included. 

Early Payne rods in this condition rarely surface on the market, don't miss out on this one!