This is a beautiful lustrous NM example of the 1948 premium from Peter Pan Peanut Butter except that as with 99.5% 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 Mint. Comes with scarce 5.5" tall instruction sheet. Sheet has minor creases and original folds from packaging, but is totally clean and best condition seen of the few we've offered. Also included is the mailer. This has mailing creases, .5" staple hole tears below mailing permit and back flap lost a .75" triangular piece when recipient pulled open the staple upon envelope's arrival. This mailer is actually the rarest of the three pieces and we've seen only one or two others. Rarely offered complete.