VINTAGE PENN 700 SPINFISHER SPINNING REEL For Sale

Up for sale is a vintage greenie Penn 700 Spinfisher spinning reel. Everything works on the reel but there is one thing I am curious about. This reel was bought at an estate sale so I am not the original owner. As seen in the last 2 photos, the bail wire only goes back (for casting) a little more than half-way. Maybe this was how it was meant to be, but I would find that odd. The cosmetic condition of the reel is pretty nice except for a few minor scratches. The attachment on the end of the bail wire(as seen in the photos) seems to be more worn than the rest of the reel, so perhaps the bail wire was replaced at some point (but that is only a guess). Please feel free to ask questions.