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I have a Canon LP 1216 Lens Case for my Canon 45mm/ EF 50mm f/1.0 Lens. I bought the lens case for £25.17 off of Amazon.co.uk (which included postage and packaging), and while I know this sounds expensive, I do feel it's really important to buy the best storage equipment for camera lenses because they are expensive pieces of equipment that need to be taken care of and if they are taken care of then they can last a lifetime.
This case comes in the form of a pouch in which the lens can be placed inside. The bottom part of the pouch is made out of sturdy leather which provides structure to the pouch and protection to the lens. This bottom part is rigid but not solid and so it provides a degree of shock absorption for the lens also. The Canon name is emblazoned on the side of this leather part and so it also tells everyone else that you like quality! The upper part of the pouch is made out of soft grey fabric which covers the lens and protects it from scratches and dust, but it doesn't really protect it from damage if the pouch is dropped. Having said that, most well made lenses are built like tanks and I've dropped mine many times without any ill effects and protection from dust and scratches is the most important thing. The whole pouch is closed with a cable drawstring which keeps the lens firmly inside but also allows very quick access. The drawstring cords can be used for carrying the lens and the lens care - although this will be by hand as it's not long enough to carry it on your shoulder. It's also really light weight and so it's not a pain to have to lug it around.
Overall, I think this is a really good quality lens case which does everything I want it to.
This sturdy and durable leather drawstring lens case is a must have for photographers with small wide angle or TS-E lenses (Tilt/Shift). I use it with my Canon 15mm fisheye in order to protect the body of the lens from nicks and scratches when in use. The lens cap for my fisheye happens to be a slip on cap which does clip securely into place so the pouch has extra usefulness in particular in this respect.
The base of the pouch is leather and therefore robust and hard to tear or puncture. This is what the front of your lens will stop against and being well padded offers good protection for the most important part of your lens. The rest of the pouch is made from a tough yet soft grey fabric which protects the length or body of your lens.
The pouch has a very nice quality to it. You can get all leather cases or hard cases but I see no need unless on an extreme holiday. The pouch fits nicely around other objects in your camera bag due to the material. It pulls tightly together when you do up the drawstring so your lens is unable to worm its way out.
All in all a great investment if you care about the ageing condition of your lenses.