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Your Progress is very similar to mine, and as you have discovered the keys are plastic. One of the improvements that Olympia was striving for was better longevity for the key surface including the character impression on it. I'd have to say that the company succeeded in this regard as the keytops on all of the machines I have first-hand experience with are still in very good condition.
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Same with my three (plus one sold) machines. These keys hardly show any signs of wear at all, while I have quite a few younger machines with keys irrevocably scarred, scratched or discoloured.
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I know this is an old thread, but I had a question regarding the pre-war Olympia portables, specifically the 30's Simplex. Do they have the silent carriage return, like the SM's where they don't ratchet back through (I forget the correct terms for describing this)?
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Just rebuilt basket case 1934(?) Olympia Progress portable. Serial no 40253. Remarkably it was all there except the 2 carriage ball bearing cages. Any ideas?