This is the rarest Orphan Annie ring and indeed one of the rarest of all premium rings. It was issued by Quaker cereals very briefly during their final year of radio program sponsorship in 1942. This newly-discovered example grades N. Mint. Of the 9 previously known examples, only one other grades N. Mint, one is Exc., 2 are VF, 3 are VG and 2 are Good. The ring is all brass with adjustable bands picturing a "Pursuit Plane" on one side and a "Bombing Plane" on the opposite side. The ring top has a small rivet holding three individually movable plates. Each plate has a small hole of graduated diameter and the idea is to hold the ring to the sky to look at the airplane. If the image fits within one of these holes, then the plane is at an altitude designated on the 3 plates as 25,000 ft., 5,000 ft., or 10,000 ft. The ring has very limited and minor luster loss. There is a tiny hairline of luster off the extreme outer edges of the top plate. Also, a little luster is off the top side edge vertical tab that locks the plates into closed position when not in use. Just to the left and right of this tab is additional tiny luster loss as this is where the tab rubs when the top plates are opened. However, all luster loss is essentially microscopic in nature and the ring to the naked eye has about 99% flawless, Mint original luster. Our last example in VF condition sold in 2005 for $10,000. However, the consignor is not a collector and has set a very conservative opening bid. We feel, given this ring's superb condition and rarity, the potential value of this ring is in the $20,000 range.