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I have 2 green 704s and 2 black 704Z's. I've had a green and a black apart side by side, and I can tell you with a good bit of confidence that there is no difference in the internals.
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The internals of the gold Penn 706z the same as the black Penn 706z if compared side by side with each other ?
I would believe they should be the same but did Penn use the same type of metal for the gears, pin, etc. and did the quality improve, declined or stayed the same?