One of two designs from 1941 produced by Ostby & Barton of Rhode Island and used by dairies participating in the Superman Defense Club milk program. Ring tops featured various initials of milk company sponsor, in this case a letter "A." Below is diagonal lightning bolt and below that an eyeball with accent lines. Brass top plate snaps off from the base and base top holds paper sticker picturing and reading "Superman." As typical, this has some wear. Although not obvious to naked eye, under a glass is revealed a tiny missing upper right corner removing most of the "N" of "SUPERMAN." The paper still displays nicely and is very rarely found nicer. All brass surfaces are extremely clean and ring retains about 50% of the original luster. Ring band also has nice glossy luster highlights at top of each side. Bands are perfectly smooth with nothing bent out of shape. Overall, exterior surfaces are VF but display very glossy and more like N. Mint. In Hake Guide #6 at Fine-$4,500 and VF-$10,000. This has very reasonable opening bid. Since Auciton #171 we've seen initials B, M and W. Our first initial A in decades. Ring is likely the photo "A" example in Hake's Price Guide to Character Toys, 6th edition.