The Pan American line was not technically a stencil horn. Carl Greenleaf, the then president of the company developed this secondary line of horns to fill the student and scholastic marching band market. These are considered a student to intermediate line of horns with simplified keywork compared to Conn's front-line, pro horns. However, it must be said that they are generally better made, and more highly regarded than the Conn Director line than replaced them in the mid 1950's, especially when compared to the later generation of Director horns. $40.00 for a Pan American is a wonderful "steal" of a deal.