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The other tip is fine to use
Oxidized step ferrules and a cap and ring seat
One of the tip-tops is wrapped in black to distinguish it from the other
medium smooth action
The "ferrule plug” seems to be a spare blank that was turned in a lathe to act as a ferrule plug
Kineya Model 301A Fly Reel 3 Weight The other tip is fineFor sale here is a Kineya Model 301A fly reel in new condition. Comes with original Kineya suede drawstring reel bag. Aluminum frame spool and stainless steel spindle. Fixed check. LHW but can be easily converted to RHW. Diameter 2. 87" (73mm) Line capacity DT4+30yds backing or a DT5