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Penn has been making the 309 since 1966 and has released at least 3 or 4 reels under the "309" number. It is one of their "levelwind" series reels. This is the rewind system that distributes the line evenly back and forth across the reel to prevent tangles. The current models are made in China and while still a good reel, they're not as well made as the older models. You can pick up the USA made versions on eBay (it will say made in USA on side plate). The current 309 sell for $60-$70. The older models can be had from $30 to whatever depending of condition.

The original 309 was called "The 309 Penn Super Peer". I believe the current model is called the 309M. They are designed for saltwater fishing but work well for any type. They are solid, tough reels, but do not have the higher gear ratios (many newer bait reels have 4.5:1 or higher ratios while the 309 is 3:1) that many newer designed reels have that make them easier to rewind after casting.

If you buy a used one on eBay, be careful to make sure you can inspect it and return if defective. Many are old saltwater reels that were not properly maintained. When opened up for cleaning you can find they're gummed up and/or damaged from improper or no cleaning.

For buying parts for older Penn's or buying new Penn reels check out www.pennparts.com. It's a great shop in New Jersey. They carry a pretty complete line of Penn reels at good prices as well as replacement parts and advice.

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