This is a beautiful essentially Mint example of the 1948 premium from Peter Pan Peanut Butter except that as with 98% of these, the tiny interior square of plastic no longer displays the Sky King image when the polarizing plastic disk on the top is revolved. Each side of the ring has his name and wing/propeller design. Top holds white plastic frame which glows in the dark. This is open on the top and holds a smoky but clear plastic disk that was meant to turn and polarize light thus revealing the Sky King image. The interior plastic square that held the image is here and ring displays essentially Mint. See following instruction sheet for this ring.