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Well I can't say whether the Spain marked one is good, bad or indifferent. :shrug: I can say that the one I have marked Germany is real good. Fillys were made in Spain so they were capable of making...

As JMS said, the old ones were fine razors. I have a more recent H&R that came in a velvet and suede box and has fancy etching on the blade. Honed up fine and shaves well. It is made in Solingen....