Noctilux 50mm f/1.0

After the hand-ground f/1.2 Noctilux proved too expensive and fragile for regular production, Leitz rethought the approach. In 1976 they released an f/1.0 version using conventional (spherical) glass elements — still remarkably fast, but manufacturable in meaningful quantities. This lens remained in production for 32 years until the f/0.95 ASPH replaced it in 2008.

For beginners: the f/1.0 Noctilux is the accessible entry point into the Noctilux universe. Used prices, while not trivial, are substantially lower than either the f/1.2 or the current f/0.95. Wide open it produces a characterful, slightly veiled rendering with beautiful subject separation; stopped down to f/2 it becomes clean and sharp. The lens is heavy and large by M standards, and a poorly maintained example with haze or de-cemented elements will disappoint — always inspect before buying.