Peter,
Care should be taken when referring to models of Nikon binocs.
Nikon Monarch and Nikon Monarch 7s are totally different.
The Monarch 7s are nearly double the price of ordinary Monarchs and indeed according to their specs are very good.
I have had two pairs of the ordinary Monarchs, ordinary being the key word, but adequate. One of them we still have, but the other pair, purchased at the same time, stopped focussing within a year and they had never even been outside!
Nikon Monarch 5 8 x 42 are currently on special at B & H for US$247, ordinary perhaps but adequate, and certainly good value. Works out at less than $350 landed.
Cheers
Graeme
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