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The 306/406 was a mid sized reel, similar to the Penn 710. I'd guestimate the capacity as +/- 200 yards of 15# mono. The reel also came with a plastic ring around the arbor that you could use to reduce its capacity. Make sure that plastic ring is removed or you won't get enough line on it to be of much practical use in the salt.
The 306/406 also were very prone to premature bail closure. Make sure the line roller is dirtectly vertical when you flip the bail over.
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