Olympic Mark III 550 classic spin fishing reel how to take apart and service

[@christopherjenkins2373]

Dennis, believe it or not I think I’ve found another one of these superb Olympic LG reels. I still have to win the auction so that will take about a week. You know how I am when I find a reel I like a lot. One is never enough! - Chris

[@2ndChanceTackle]

I think that is a problem!! but a guess a good one to have. Best wishes on winning the auction - Dennis

[@kevinh5024]

Nice video Dennis. The reel seems very well made. I noticed the handle. I’ve got an old Daiwa spinning reel with the same handle + ribbed knob to loosen the handle. Glad Christopher mentioned this with a Daiwa GS series reel he has. I thought I might be imagineing this. -KevinH

[@2ndChanceTackle]

Thanks for the note and additional information. Yes, many designs are similar on that generation of Japanese made reels - Dennis

[@bart-b9497]

Great video as always! Thank you very much, Dennis. I really love the sound, that reels makes. I need to get myself such shim pliers... Let's Go 550!

[@2ndChanceTackle]

Thanks for watching!

[@christopherjenkins2373]

Man I wish I had one of these. I’ve got a number of Olympic reels (10 in total) including four Spark models. I like the screw through handles better than the ones where the cap and screw are one piece. I have a a few reels with handles just like this Olympic. One of those Daiwa GS reels you sent me had a handle set up like this. Olympic reels are often some of the best deals around on the used market. I truly wish I could find this Olympic model. Recently I saw a very rare two speed Olympic spinning reel costing $1600.00. I have no idea how it works but it was a beautiful and interesting reel. One of my favorite Olympic reels is a 2 ball bearing Cadet reel. They must be rare because I;ve never seen another one. It is a medium size reel but incredibly well made. Mine has never been used (but soon will be). I also have a very nice large Olympic Signature saltwater reel I got new in the box that I’ve since used surf fishing. It is a very solid performer. Thanks for doing this video Dennis. Ever since you previewed this reel I have wanted to get a closer look. - Chris

[@2ndChanceTackle]

This was a very nicely made reel and I thought you would enjoy it. and Wow - that drag stack is certainly made for BIG fish

[@christopherjenkins2373]

@@2ndChanceTackle you’re right! I like that reel a lot. There are none available for sale on the internet that I can find.- Chris

[@christopherjenkins2373]

Dennis, I just got another one so now I have two 550 and two 450 reels in this series. Other than being a heavy reel I like these a lot. They are difficult to find. This last 450 I got has a chipped reel foot so I got it cheap. There’s more than enough left for a strong rod connection. The spool had some built up salt but I can remedy that. It should be a solid reel for surf fishing. - Chris

[@2ndChanceTackle]

Great to hear it will have a 2nd Chance - Thanks Chris

[@christopherjenkins2373]

Dennis, I finally found a shim to put on the main gear shaft to hold the oscillation circle on the gear I put the bearing above it. That solved any problem I have with the gears meshing as they should. Rick Stivers found the shim for me. This has turned into one of my favorite reels that I’ve gotten this year. It is perfect for surf fishing and I can’t wait to use it. I would have never found it if not for this great video! You mentioned Daiwa, Shimano, and Ryobi reels from this time. Only the Daiwa 7000C is comparable to this reel. I also began collecting the Ryobi Powerful Reel Series. The Ryobi Silver Cloud reels aren’t even close as I found them of much poorer quality. . These Powerful reels are great. I’ve got all of them except the No. 5 model. - Chris

[@2ndChanceTackle]

Glad to hear that the reel has a 2nd chances. It does sound like a nice surf fishing reel. Thanks to Rick for the help! Dennis

[@glennmcleod4751]

Very good reels I have a Olympic 505...have done Great for me a good many years..

[@2ndChanceTackle]

Yes - there were well made and will last and last with good maintenance. Thanks Glenn

[@christopherjenkins2373]

Glenn, is your 505 from the same series as this 550 mark iii? If it is I’d sure like to find one. This 550 is one very fine reel! If I found another 550 I’d buy it immediately! - Chris

[@glennmcleod4751]

@@christopherjenkins2373 yea..it is very good reels for sure

[@christopherjenkins2373]

Dennis, I got word tonight that I will indeed be getting one of these exact reels with the box, all the papers and a lot of extra parts including a main gear, extra handle, and a lot more. I’d been hunting for one of these since I saw this video 9 mos. ago. I also recently got an Olympic VS 5000 saltwater reel. It seems my reel finds seem to go in spurts of the same brand. I don’t try to do that it just happens. The seller of the LG reel had sold it to a European buyer back in Jan. but he never paid for it. That caused all the confusion over whether the reel was actually available. It was and I am very happy about it! - Chris

[@2ndChanceTackle]

Congratulations on another great find!

[@bart-b9497]

Congrats to that amazing reel, Chris! 🎉

[@stevenpressley5956]

Nice reel.. Thanks for sharing..

[@2ndChanceTackle]

You bet. Thanks for the note and for watching - Dennis

[@christopherjenkins2373]

Dennis, I sent you an e-mail with some photos of the second reel like this I just got. The first one I got was a slightly newer version of this reel. You know that when I find a reel like this I particularly like I will usually get a second one (or more). - Chris

[@2ndChanceTackle]

Got it! Those are nice reels Chris. Best wishes - Dennis

[@chrismccarta202]

Hi Dennis do you know where I could find parts for a Diamond Super Deluxe 777

[@jonwardrick7547]

I need a replacement handle. Mark 3 LG 450 Looks just like the one on this video

[@2ndChanceTackle]

Unfortunately I do not have a handle for this reel. Check eBay and other resellers to see if you can find one - Dennis

[@christopherjenkins2373]

Dennis, recently I saw an Olympic LG 750 MkIII. It was massive. These 550 size are heavy but that 750 must have weighed several pounds at least. It was expensive and not is very good external condition so I had no interest. Can you imagine a 750 size like this? -- Chris

[@2ndChanceTackle]

Hard to imagine what your arm would feel like at the end of the day of surfcasting with something that weighs that much! Wow

[@christopherjenkins2373]

@@2ndChanceTackleDennis, this 550 Olympic is close to the heaviest spinning reel I own. None of my largest Mitchells are even close. These reels are beasts! I will say I believe these are the best Olympic reels I have at least for surf fishing.

[@themechanizedswaggie5472]

Hi from Australia, I have a Shimano Culcutta 150 I cannot find any Information about it . Have you worked on one and are the parts interchangeable with the 250 or any other culcutters . Thank you for great vids

[@2ndChanceTackle]

I have worked on that series reel and some parts are interchangeable. Some, like the spool and frame are wider on the 250. You can find out what parts can be transferred by checking the schematics and part numbers. Here is a link to a site for the 150 schematic. It also have the 250 one. If you check part numbers you will see which are the same, and which are different www.planetseafishing.com/wp-content/uploads/downloads/shimano/multiplier/calcutta-series/calcutta-ct150(2003).pdf - Dennis

[@salvamartinez216]

I have 3, 2 large ones and one smaller one, I am selling them in Spain

[@christopherjenkins2373]

Dennis, can you give me some help as to how to set that numerical ring under the drag knob so that it reflects the drag pressure setting or is that even possible? I’ve tried a lot of times but haven’t been able to get it right. Also my reel had a bearing shield piece with three screws holding in the bearing rather than a snap ring. It did have the snap ring for the drag under the spool. Oh, there were no shims on the main gear over the crosswind arm on my reel either. The more I fool around with this reel the more I like it! - Chris pS. Don’t forget to lock the spool to the axle by turning that screw head in the middle of the drag knob.

[@2ndChanceTackle]

I don't know how to adjust that one Chris. If you find out, please let me know

[@christopherjenkins2373]

@@2ndChanceTackle I got it adjusted but it was entirely by trial and error. Anyway while fighting a fish who would look at that scale except maybe afterwards.

[@ReasonsWhy1]

Hi Dennis I'm having trouble installing the Anti-reverse cam spring. When I placed it in, closed up the unit and used it, it fell out and jammed the gear drive. Could you please help me with how this component is placed. unfortunately, there is no clear view of the spring in this video :(. This was a complete overhaul I had done; this was previously my Opa's reel. I saw someone mention the high price of these reels, how much would this be worth? ( i would not sell it, it would just be interesting to know). Hopefully you can help in my questions :) Thank you.

[@2ndChanceTackle]

Please send a note to my email [e-mail] and I will try to help - Dennis