Fast Olympus standard lens.
As often with this type of lens (and with other fast lenses as well), you will find some specks of dust between the inner lens elements. The experienced photographer probably will not care about that issue (since it will not affect the image), but a collector might not be happy with this item.
Glass and coatings are flawless, smooth focus and snappy, clean aperture blades. Slight wear on the barrel.