Pilot's Capless is the world's first retractable fountain pen, and has been a long selling pen since its creation in 1963. It has gone through several redesigns to evolve into the Vanishing Point today.
The pen features an unconventional mechanism that is more commonly found in ballpoint pens. With a retractable nib unit that is well hidden and sealed in the metal barrel, the nib will not dry out and you will never have to worry about losing a cap.