Dating, I think, from 1929.
The body is made from hard rubber,
fashioned to give this wood grain effect
which goes by the name 'red ripple'.
All the fittings are 9kt gold.
The 54 designation translates as,
5 = lever filler / 4 = size of nib.
When I bought this pen,
I was delighted to find the original leaflet in the box,
from the seller
L. G. SLOANE LTD., "The Pen Corner", 41 Kingsway, London, WC2.