A rare Oscar Kovalovsky designed fly reel with a spare spool made by Angling Products International (API), set up for LHW and with an anti-reverse drag. 4 1/2" diameter with a spool width of 1". It weighs 14 1/2 oz. This model was made in a limited run of 100 reels, of which this is number 57.  The drag is rather interestingly controlled underneath the handle by way of a small integrated adjustable knob that exerts pressure on the spool. Silent outbound with a light click on the inbound direction. The reel and spare spool comes in a walnut box with foam lining (the lining is  functional but has deteriorated slightly). A rare and interesting reel here, one that you don't come across very often.