Esterbrook produced a fancier line of pens out of better, marbled plastics.  These sold for $1.50 and are often referred to as "$1.50 pens."  Correctly termed, models consisted of B (full sized), A (slender), and H (demi) and ran from 1934 through 1942.

This is an early 1934 model in Pearl Grey (model BK).  $1.50 models feature the earliest style imprint and often come with the "Spear" style lever as shown here.  Note the clip cuts in towards the top of the cap and the extremely large cut out in the clip.

A Morroco Red $1.50 pen and pencil set (model BM pen and PM pencil) with the ca. 1934 Clip.

This is a 1938 era model AG slender sized Foliage Green pen. Slender sized $1.50 pens are quite hard to find.

This is a model B pen in grey with red flecks. I have yet to find this color catalogued by Esterbrook, although I'm sure it is somewhere, as they used this color in a number of pens, including V clips.

This is a ca. 1938 model pencil in Foliage Green (model PG).  Early $1.50 pens and pencils like this one can sometimes have characteristics of their BHR cousins, most noteably the cap band close to the cap lip, and the early imprint.

This is a very desirable "Cracked Ice" $1.50 pen and pencil, ca. 1938. Though later than the above pencil.  This does not appear in any Esterbrook information that I have seen thus far.

This is the green cracked ice variant. Much harder to find than the yellow cracked ice set above.