This actually looks to be in stellar condition. Naturally, these tin litho tambourines were designed to be banged around, so it is difficult to find one in near-perfect condition. The photos convey that this still possesses bright colors and has a minimum of wear. Even the BIN is reasonable. Although one of the jangles is missing, this isn't a big deal as virtually all Chein jangles are interchangeable. This was made in the 1930s.
Mark B. Ledenbach's vintage Halloween collectibles blog.