From 1928, this is one of Waterman's larger pens - a #7 - in red rippled hard rubber with a Blue #7 Stub 14k USA gold nib with keyhole vent. The cap top features the original (slightly faded) blue band with white accents while the cap lip has a solid 9k gold band with London assay hallmarks for 1928 and the maker's mark FDW (for FD Waterman).
Barrel imprints are readable, and the red rippled hard rubber cap and barrel have some distinct fading when compared to the section which has been covered and protected from light - see the photo showing the cap beside the pen. Otherwise, this is a very good original example of this model. This is a lever filler and has been fully serviced - 1928
Condition B/1 Stub 'Blue'