A Leonard 38-H fly rod, a 7' 2-piece, 2-tip, for a #4 line. Serial #2820. The rod weighs 2 7/8 oz according to the tube data sticker. This rod is 90% mint with minor brassing on the inside of the tip-tops and a few small ring and reel foot imprints to the butternut reel seat being the principal signs of use. Honey colored cane and three up node pattern. Wrapped 326 red with some typical cracking at the ferrules. Ferrules are tight on the wood and fit snugly. Keeper 1 flat right. 10 cork medium blunt cigar grip shows signs of having been cleaned. Butternut cap and ring as stated. The butt cap die stamp states: "The Leonard, rod, H. L. Leonard rod co, Makers". I suspect the varnish has been "rubbed out" as this is a flawless finish and not at all typical of a brush coat. Overall a very nice fisher in excellent condition. Yellow bag with stiffener, and Leonard brass top aluminum tube with Leonard data tag affixed.