There are 3 versions of this lens:
I am told that the f/2.8 is considered better than the f/4 for macro work (though this is not to say that the f/4 is bad). The EL-Nikkor 50/2.8 is a 6 element, 4 group design. The 50/4 is a 4 element, 3 group design.
Here is a diagram of what the 2.8 versions look like inside. The 2.8 is on the left, the 2.8N is on the right.
The 2.8 is easy to tell from the 2.8N. The 2.8 has large aperture markings on a rotating ring that match up with a dot. The 2.8N has smaller markings that pass through a window with a line nearby.
Here is what the 2.8 looks like:
And here is what the 2.8N looks like:
And here is a link to a story about the design of these lenses.
Actually these lenses are mentioned in passing in a story about the design of the Nikkor 13mm f/5.6. The 2.8 was designed by Mr. Wakimoto of Nikon (described as a wizard lens designer), and the 2.8N was done by Mr. Mori (to whom Mr. Wakimoto "takes off his hat").
Tom's Mineralogy Info / tom@mmto.org