The Old Bow is one of the starter weapons which the thegn of Skjern gains shortly after the character has been created by the player. If no specialisations or at least rank 1 in bows has been chosen, this weapon can be retreived from the weapon rack.
In-game description[]
Sigridr and Ljotr gave you this bow as a reward when you killed your first deer. It's seen a lot of use over the years, but it still a reliable weapon.