My first fly reel was was a 1496 Medalist, given to me by my father in the late 1950s, he acquired it in the late 1930s as a premium for selling subscriptions to one of the major outdoor magazines of the day. I later bought a 1494 and a 1495, pre-Shakespeare and pre-offshore manufacture. The 1496 was lost during a move and the 1494 and 1495 were given away in time. Over twenty years ago I came across (and purchased) a 1494 which was apparently a very early drag model (the drag was introduced in 1937). Incorporating the drag required a new frame casting to add a boss to house the drag-control knob but apparently some of the old frame castings were simply drilled to accept the shaft which left the knob sticking out rather awkwardly, and this was one of those. A few years later, I came across a 1494 on E-Bay which appeared to be a pre-war (Medalists made before WWII and, for a short period afterward, were easily identified by the round Diamolite line guard, aluminum latch cover, amber-colored handle and riveted, sculpted pillars) model in very good condition. Only after purchasing it did I discover that it pre-dated the introduction of the drag, having a simple spring and pawl ratchet mechanism.
I am still using both, usually on my Granger cane rod, particularly for sea-run cutthroat in the fall. Here are some pictures.