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I'll let the pictures supply the rest of the description
the rod also possesses a good deal of feel and delicacy
Standard pricing on this model on the resale market has been $3
Baginski describes this model as follows
and serial number engraved into the top cap
Orvis CFO III Limited Edition Reel 7’5” I'll let the pictures supplyA rare Orvis CFO III Limited Edition fly reel, 3" diameter and currently set up for RHW (though easily switchable). This reel appeared in the 1977 and 1978 catalogs along with Limited Edition Orvis Classic Fly Rod with mahogany presentation chest. This limited edition model was limited to 300 reels, and this one is #274. The reel was actually priced separately in the 1978 catalog but only offered as part of the presentation set in the 1977 catalog.
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