The Leotax Leonon 5cm f/2 is a scarce 1959 LTM standard lens for the Leotax Elite, valued by collectors of Japanese Leica camera copies.

Leotax Leonon 5cm f/2

Leotax Leonon 5cm f/2

LTM mount

€148

1 listing · median €147

checked 2 days ago

See all 1 listing

The Leotax Leonon 5cm f/2 is a LTM-mount lens for Leica rangefinder cameras. As of August 2026, it sells from €148 used across 1 listing, with a 30-day median of €147. Leica price index →

How it compares

Measured against the 72 other 50mm LTM-mount lenses in the catalogue.

227 g Weight Lighter than 51% of them
f/2 Maximum aperture Faster than 33% of them

Specification

Focal Length: 50mm
Aperture: 𝑓/2
Release Year (from): 1959
Filter Size: 40.5 mm (E40.5)
Length: 41 mm
Minimum Focus Distance: 1m
Elements in Groups: 6/5
Aperture Blades: 10
Mount: LTM
Material Weight: Aluminum, 227g
Colors: Black Chrome

About this lens

Leotax Leonon 5cm f/2

The Leotax Leonon 5cm f/2 is a Japanese LTM standard lens introduced in 1959 for the Leotax Elite rangefinder. It appeared near the end of Leotax camera production as a lower-cost alternative to standard lenses supplied by Tokyo Kogaku and Fuji Photo Film. Its Leica screw mount, mechanical rangefinder coupling and 50mm focal length make it fully relevant to LeicaLensList.

This entry covers the plain Leonon marked “LEONON 1:2 f=5cm” without an “S” suffix. A contemporary Leotax brochure identifies it as a six-element, five-group Gauss-type lens. It focuses to approximately 1 metre, accepts 40.5mm screw-in filters and has a ten-blade aperture closing to f/22. The barrel includes a chrome focusing lever but no infinity lock.

The pictured lens, serial number 230234, is an especially early plain Leonon. It falls slightly below the previously published observed range beginning around 23031x. Early examples are documented with ten curved aperture blades, while later plain Leonons generally use ten distinctively shaped or wavy blades.


Optical qualities

Rendering

Detailed controlled testing is limited, but repeated user comparisons describe the plain Leonon as having good central definition with lower microcontrast and weaker corner performance at wider apertures than the later Leonon-S. Its most consistently documented characteristic is strongly structured out-of-focus rendering rather than uniformly smooth blur.

Sharpness

Comparative testing indicates that the plain Leonon can be slightly sharper in the centre than the later Leonon-S, although the S version provides stronger microcontrast and better corner resolution at f/2. Results depend heavily on optical condition and accurate rangefinder calibration.

Bokeh and transitions

Out-of-focus highlights can show pronounced outlining and asymmetric brightness across the blur disc. Toward the edges, blur shapes become compressed and backgrounds can develop a busy or swirling appearance. The effect varies with subject distance, background structure and illumination, so it should not be expected in every photograph.

Contrast and flare resistance

The lens has coated optics, but no official coating name or specification has been confirmed. Contrast is generally lower than that of the later Leonon-S. Surviving examples with coating damage, haze or cleaning scratches may show substantially reduced contrast and increased flare.

Digital use

The lens can be used on Leica M cameras with an appropriate LTM-to-M adapter. Its mechanical rangefinder coupling should remain functional when the lens and adapter are correctly calibrated. It has no factory six-bit coding. Adaptation to mirrorless cameras is straightforward, but the approximately 1 metre minimum focusing distance remains unchanged unless a helicoid adapter is used.


History

Development and Launch

The plain Leonon was introduced as the standard lens for the later Leotax Elite, a version of the Leotax T2L rangefinder released in 1959. Earlier T2L cameras were commonly supplied with Topcor-S or Fujinon lenses, while the Elite name became associated with the more economical Leonon-equipped package.

Leotax was facing increasing competition from Canon, Nikon and the rapidly expanding Japanese SLR market. The Leonon therefore belongs to the final period of Japanese Leica-copy production, when manufacturers were attempting to reduce prices while retaining interchangeable LTM lenses and coupled rangefinders.

Production Evolution

Collector research records plain Leonon serial numbers mainly between approximately 23031x and 23371x. This suggests production of fewer than 4,000 lenses, but no official factory total has been located. The photographed serial number 230234 extends the currently documented lower end of that observed range.

Leotax entered bankruptcy proceedings in October 1959. Cameras and remaining components continued to be sold afterward, but the final manufacturing date of the plain Leonon is not confirmed. It was followed by Leonon-S lenses associated with the Elite S2 around 1960.

The actual optical manufacturer remains uncertain. Several Japanese sources attribute Leonon lenses to Showa Koki, a separate company from Leotax maker Shōwa Kōgaku, but surviving factory documentation has not conclusively established this attribution. The lens should therefore remain catalogued under its Leotax branding.

Special Editions/Variants

Three visibly distinct 5cm f/2 lenses carry the Leonon name. The plain Leonon covered here has no “S” suffix, normally carries a 23xxxx serial number and closes to f/22.

A scarce early Leonon-S resembles the contemporary aluminum-bodied Topcor-S and is generally found with serial numbers around 59xxxx. A second Leonon-S has a different stepped front bezel, normally carries a 34xxxx serial number and was supplied with the Leotax Elite S2. Both S versions close to f/16 and should receive separate LeicaLensList entries rather than being combined with the plain Leonon.

No commemorative, military or export-only edition of the plain Leonon is confirmed.

Collector Notes

The most reliable identification points are the absence of an “S” suffix, the “LEOTAX CAMERA CO., LTD.” front engraving, a 23xxxx serial number, f/22 minimum aperture and black barrel with chrome base and focusing lever. The lens accepts 40.5mm filters and does not have an infinity lock.

Some databases list the plain Leonon as a six-element, four-group lens. However, the Leotax brochure documented by specialist research describes the plain version as six elements in five groups. The six-element, four-group specification is more commonly associated with Topcor-S and later related designs.

Collectors should inspect the glass for haze, fungus, coating deterioration, fine scratches and separation. The aperture blades should be checked for oil, scuffing and smooth operation. Rangefinder calibration, focusing resistance and originality of the LTM mount are also important because lenses and camera bodies were frequently separated or exchanged.


Sources

Special editions

No factory special editions or numerical product codes are confirmed. The two lenses marked Leonon-S are separate successor variants and should not be merged with this plain Leonon entry.

Where to buy

Prices for Leotax Leonon 5cm f/2

Lowest right now
€148 1% above 30-day median

About the usual price. The lowest listing is around the 30-day average.

Median · 30d
€147
Available
1 listing · 1 source
Best price
(865) ライカL用50mmf2.0 レオタックス・レオノン LEOTAX LEONON
Sold by Kikuya Camera & Watch
€148 ≈ $160

Price history

Over the last 2 weeks the median price for the Leotax Leonon 5cm f/2 has risen, ranging from €146 to €147 (now €147).

Weekly price (EUR)
Median: Good or better Lowest: Good or better
€146€146€147€147€147Median
Jul 27Aug 3

Weekly price (EUR). Median (Good or better) and lowest (Good or better) across 2 weeks. The full figures follow in the table below.

The figures behind this chart
Weekly median and lowest price
WeekMedianLowest
Jul 27, 2026€146Unknown
Aug 3, 2026€147Unknown
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.

Leotax Leonon 5cm f/2: frequently asked

How much does the Leotax Leonon 5cm f/2 cost?

As of August 2026, the Leotax Leonon 5cm f/2 sells from €148 used, with a 30-day median of €147, across 1 active listing.

Where can I buy a Leotax Leonon 5cm f/2?

As of August 2026, the Leotax Leonon 5cm f/2 is sold by 1 source (1 listing), from €148 used: all compared cheapest-first on this page.

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From €148 1 listing · 1 shop