Hunterreed, that is a nice piece of work there !
Looks like a spring steel rod, I'd guess about 100 years or so based on old equipment my Grandfathers used.
It's a Hurd Caster or Super Caster, and may say on the reel. Made in Michigan probably in the mid to late 1940's, value would be $100 plus based on condition, missing parts, etc. They are very collectible.