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Demonstrator -1934 - These come in several types. This pen is an early model with a transparent barrel and the correct barrel markings. There are standard models with transparent barrels that are identical except for the engraving on the pen barrel. This variety is more common with a black cap and jewels. The cap shows the lines in the plastic running diagonally in the plastic. This trait is common in early Vacumatics.

There are also demonstrators that are a standard pen with a cut in the side from the top to the bottom. This is about 5mm wide and allows you to see all of the inside. Both types are rather hard to find.