A thick dowel serves as an axle for a plastic spool from bulk fishing line.  A thin birch plywood disk is cemented to its two sides.  The white dotted disk bears against the hand while winding and is cemented to the dowel.  A large plastic washer made from an AOL disc sits between this disk and the spool, and the pivots are lubed with candle-wax.  A screw and washer keep things together.  The crank handle doesn't pivot so there is no groove to snag line.  So far it's been worth trying but is only useful for long-line flying.  It holds 1000 yards of linen line found at a yard sale.  Total cost, about a dollar.