In a very good, barely worn condition. The core with all of the black paint, the ribbing in matt white silver, the flanges burnished and all with some patina.
Not marked but a known variation that has been attributed to the company of Steinhauer & Lück, Lüdenscheid (S&L). Three piece construction and non-magnetic(!)..
Seldom seen variant.

In an excellent, unworn condition. The core with all of the black paint, the ribbing in matt white silver and the flanges burnished with some slight patina.
Not marked but a known variation that has been attributed to the company of Steinhauer & Lück, Lüdenscheid (S&L). Three piece construction and non-magnetic. With long unused ribbon.
Difficult to find variant in best condition.