This is a vintage stainless steel show bit made by renowned bit maker Ron Myler USA, with a MB32-09 snaffle mouthpiece and #32 swivel shank.  Unlike the Myler Toklat bits that are commonly found , this is a custom ordered genuine Myler USA bit, which means it is not only Made in the USA, but is higher quality construction than the imported Toklat licensed bits.  This is a very lightly used bit in well maintained condition with minor surface wear on the shanks and very light rusting on the sweet iron mouthpiece.  The swivel shanks measure 7 inches long with a 2-1/2 inch purchase for a 2.8 to 1 leverage ratio.  The mouthpiece is Myler's 09 smooth sweet iron snaffle bit mouthpiece and measures 5 inches wide by 3/8 diameter.
The smooth sweet iron snaffle mouthpiece offers the perfect transition for the green horse to a leveraged bit.  The sweet iron mouthpiece has copper inlays on the back side to encourage salivation for a soft mouth.  This mouthpiece offers a variety of pressure points to take the horse as soft as possible.  This mouthpiece is made of polished Sweet Iron which naturally oxidizes.   This bit weighs 11.32 ounces so it is a very nice light bit and the mouthpiece is considered by Myler to be the mildest of the Level 2 bits.