Chein produced this tin litho tambourine during the 1920s over many seasons. Toward the end of the production run, the dies were worn enough that the goose's eye is either quite small or missing altogether. Given the prominent eye and the crispness of the imagery overall, I know this noisemaker was made quite early in the run. Is there a value premium with this early-run item? Yes, in that those with less crisp graphics suffer a 20-25% decrease from SGV of $225.
Mark B. Ledenbach's vintage Halloween collectibles blog.