This reel is a classic - it is typical of the old Penn Company - well built and works well. They discontinued it in 2004 but you can still find a few new ones around if you look. It might not be the smoothest casting reel (it is a levelwind) but it performs well overall. I use mine for jigging and trolling. I just put one on my sibiki rod too.

I wish they still made them (but not in Chna with cheap parts like a lot of the NEW Penn stuff).

 

Penn 940 Levelmatic baitcasting reel



I too have and use (sparingly) a USA made Penn 940 baitcasting reel. I purchased this one from Tex's Tackle back in the mid 1990's for $74.95. Mine is currently mounted to a Quantum Blue Runner Inshore 7' rod and I use it for live bait casting, jigging, and drifting for drum, sea bass, and flounder. These are great performing and looking reels...you just can't beat those classic looks! These can be found in varying degrees of condition on E-bay and sell for fairly high prices.