The Leica Elmar 50mm f/3.5 Nickel is an early collapsible LTM standard lens from Leica's transition to standardized, rangefinder-coupled lenses.

Leica Elmar 50mm f/3.5 LTM Nickel (1930)

Leica Elmar 50mm f/3.5 LTM Nickel (1930)

LTM / M39 mount

€270

8 listings · €269–€591 · median €428

checked 10 days ago

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The Leica Elmar 50mm f/3.5 LTM Nickel (1930) is a LTM / M39-mount lens for Leica rangefinder cameras. As of September 2026, it sells from €270 used across 8 listings, with a 30-day median of €428. Leica price index →

How it compares

Measured against the 117 other 50mm lenses in the catalogue.

125 g Weight Lighter than 82% of them
f/3.5 Maximum aperture Faster than 1% of them

Specification

Model number(s): KUP, KUP.11-BP, KUP.7
Focal Length: 50mm
Aperture: 𝑓/3.5
Release Year (from): 1930
Production Year (to): 1933
Filter Size: 36 mm (E36)
Minimum Focus Distance: 1m
Elements in Groups: 4/3
Aperture Blades: 19
Mount: LTM / M39
Material Weight: Nickel and Brass, 125g
Colors: Nikkel

About this lens

Leica Elmar 50mm f/3.5 Nickel

The Leica Elmar 50mm f/3.5 Nickel is an early collapsible standard lens produced for Leica screw-mount cameras during the transition from fixed-lens Leica I cameras to standardized interchangeable L39 lenses. The optical design was developed by Max Berek and uses four elements arranged in three groups .

This entry covers nickel-finished collapsible 50mm f/3.5 Elmar lenses in Leica L39 / LTM / M39 screw mount. It includes the principal early focusing-lock variations, such as pin release, square release and later domed or bell-shaped release controls. These mechanical details are collector-relevant variants of the same basic lens and do not require separate optical entries.

This lens must remain separate from the Elmar 35mm f/3.5 Nickel, which is a different wide-angle lens, and from the later 50mm f/3.5 Elmar produced in M mount under model number 11110.


Optical qualities

Rendering

The Elmar 50mm f/3.5 produces the classic rendering associated with early Leica photography. At full aperture, the centre can provide useful detail while the outer image is gentler and lower in contrast. Leica notes that stopping down by one or two stops significantly improves the outer zones.

Sharpness

Central sharpness is generally good for a compact lens of its period, particularly when the optical surfaces are clean and the lens is correctly focused. Definition becomes more even across the frame at medium apertures.

Contrast and color

Early nickel Elmars were normally uncoated. Contrast is therefore lower than on later postwar coated examples, especially when strong light falls directly on the front element.

The dedicated FISON hood or another suitable A36 hood can substantially reduce veiling flare. A hood is particularly useful on digital sensors, which may make flare and internal reflections more visible.

Bokeh and transitions

With a maximum aperture of f/3.5, the Elmar is not designed primarily for shallow depth of field. At closer distances, however, it can still provide gentle separation between the focused subject and background.

Distortion and vignetting

The four-element, three-group design provides a natural standard-lens perspective with limited geometric distortion. Some corner darkening and reduced peripheral definition can be visible at f/3.5.

Handling

The lens collapses into the camera body for transport. It must be fully extended and locked before taking photographs. Care is required on digital cameras and adapted bodies because the rear tube projects into the camera when collapsed.

Focusing extends from approximately one metre to infinity. The focusing lock secures the lens at infinity and also provides a convenient control for turning the focusing mount.

Early nickel lenses may have the lock positioned at approximately 11 o’clock, while later examples moved it toward the 7 o’clock position. Pin, square and domed release mechanisms appeared during this period of rapid mechanical development.

Filters and hoods use the A36 clamp-on fitting. Small screw-in filters may also be encountered around the front optical cell, but A36 is the appropriate database specification for the standard external accessory fitting.

Digital use

Standardized rangefinder-coupled examples can be used directly on Leica screw-mount cameras and on Leica M bodies with a suitable L39-to-M adapter.

The lens has no six-bit coding. Before collapsing it on a digital or adapted camera, rear-element clearance must be checked carefully. Leaving the lens extended is the safest practice when compatibility is uncertain.


History

Development and Launch

The 50mm f/3.5 Elmar developed from Max Berek’s early optical work for the Leica camera. The fixed version replaced the earlier Anastigmat and Elmax lenses on the Leica I during the 1920s.

The interchangeable screw-mount Elmar appeared in 1930. This coincided with Leica’s transition from fixed-lens cameras toward the Leica C, standardized screw mount and eventually the rangefinder-coupled Leica II.

Production Evolution

The years from 1930 through 1932 were particularly complex. Some early lenses were produced for non-standardized cameras and individually matched to their bodies. Others were later returned to Leitz and converted to standardized or rangefinder-coupled mounts.

The infinity-lock mechanism changed several times. Documented forms include:

  • Early pin release
  • Short-lived square release
  • Domed or bell-shaped release
  • Lock positioned at approximately 11 o’clock
  • Later lock positioned at approximately 7 o’clock

Special Editions/Variants

The square-release lens is not a commemorative Special Edition. It is a rare normal-production mechanical variant.

Other collector-relevant variations include:

  • Nickel and chrome finishes
  • Metric and feet distance scales
  • Standardized and non-standardized screw mounts
  • Rangefinder-coupled and originally uncoupled examples
  • Lenses converted from fixed Leica I optical units
  • Pin, square and domed focusing-lock releases
  • 11 o’clock and 7 o’clock lock positions
  • Lenses with and without visible serial numbers

Collector Notes

Important identification points include the front-ring engraving, serial number, nickel finish, focusing-lock shape, focusing-lock position, distance scale and the presence of a standardized rangefinder cam.

Condition checks should include haze, fungus, cleaning marks, separation, aperture operation, smooth extension of the collapsible tube, focusing stiffness and wear to the locking mechanism.


Sources

Where to buy

Prices for Leica Elmar 50mm f/3.5 LTM Nickel (1930)

Lowest right now
€270 37% below 30-day median

Good time to buy. The lowest listing is 37% below the 30-day average.

Median · 30d
€428
Available
8 listings · 3 sources
Price against condition for 8 listings€370€556Excellent2Good4Fair1Unknown1median €383€269

Lowest price Click a mark to open that listing · arrow keys to step, Enter to open

Price against condition for 8 listings of Leica Elmar 50mm f/3.5 LTM Nickel (1930), €269 to €591, median €383. Excellent: 2 at €328, €340. Good: 4 at €369, €397, €458, €576. Fair: 1 at €269. Unknown: 1 at €591. The full table follows.

Lowest & median price by condition for the Leica Elmar 50mm f/3.5 LTM Nickel (1930)
ConditionLowestMedian
Excellent€328€334
Good€369€428
Fair€269€269
Other€591€591
Stores
Best price Fair
Leica Leitz Elmar 3.5 / 5cm, LTM, Nickel/chrome
Sold by Fotohandel Delfshaven
€269 ≈ $291

Price history

Over the last 13 weeks the median price for the Leica Elmar 50mm f/3.5 LTM Nickel (1930) has risen, ranging from €320 to €469 (now €428).

Weekly price (EUR)
Median: Good or better Lowest: Good or better
€226€368€510€652€794MedianLowest
Jun 1Jun 22Jul 13Aug 3Aug 24

Weekly price (EUR). Median (Good or better) and lowest (Good or better) across 13 weeks. The full figures follow in the table below.

The figures behind this chart
Weekly median and lowest price
WeekMedianLowest
Jun 1, 2026€320Unknown
Jun 8, 2026€369€369
Jun 15, 2026€369€369
Jun 22, 2026€320Unknown
Jun 29, 2026€320Unknown
Jul 6, 2026€596€397
Jul 13, 2026€794€794
Jul 20, 2026€366€226
Jul 27, 2026€454€328
Aug 3, 2026€480€328
Aug 10, 2026€480€328
Aug 17, 2026€528€328
Aug 24, 2026€383€328
What these condition grades mean

Every shop grades differently. Leica Classic uses letters, Ffordes uses E++ and E+, German dealers write "Zustand B", Japanese dealers write A−. We map all of them onto the one ladder below. Where a shop states its own grade, we print it under ours.

New
Unused, sold as current stock.Usually the maker's own store or a dealer's new inventory.
Mint
Used, but with no wear we can see described.Leica Classic A · Ffordes M
Excellent
Light wear, glass reported clean.Leica Classic A− and A/B · Ffordes E++ and E+ · Japanese A−
Good
Visible wear from use, optics reported sound.Leica Classic B · "Zustand B"
Fair
Heavy cosmetic wear, or a stated optical fault such as haze, fungus or cleaning marks.Leica Classic B−
Heavily used
Works, but wear or a fault affects using it.Leica Classic C
For parts
Not usable as sold.Leica Classic C− and D
Unknown
The listing said nothing we could grade. We show the seller's own words instead of guessing.

Leica Elmar 50mm f/3.5 LTM Nickel (1930): frequently asked

How much does the Leica Elmar 50mm f/3.5 LTM Nickel (1930) cost?

As of September 2026, the Leica Elmar 50mm f/3.5 LTM Nickel (1930) sells from €270 used, with a 30-day median of €428, across 8 active listings.

Where can I buy a Leica Elmar 50mm f/3.5 LTM Nickel (1930)?

As of September 2026, the Leica Elmar 50mm f/3.5 LTM Nickel (1930) is sold by 3 sources (8 listings), from €270 used: all compared cheapest-first on this page.

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From €270 8 listings · 3 shops