Just one spacer in pommel and guard. I bought this when I worked for a sporting goods store 1970-1973. The Buck representative offered us a large discount (I seem to remember 30 or 40 percent off retail). But, we had to have our name engraved in the handle, to prevent us from reselling any knives we bought. I have never actually used this thing as I have not been in the habit of skinning the deer I've shot. The other day when I did skin a deer, I couldn't find the blasted knife and had to use a regular one! But that rekindled my interest in it. And, yes, as someone posted in another thread, the 440C steel in these was considered really hard to resharpen back then.