The very first View-Master reels produced (for an extremely short time) featured small lettering of title and captions while was shortly followed by what was to become the standard larger lettering (from gold center through blue ring , buff  and white hand lettered .)

Thus the SMALL LETTERING Gold Center Reels are the very first View-Master reels produced, and are the rarest of all production reels with these smallest number remaining extant.

Condition:
This reel includes it original black blue and gold sleeve (envelope). Reel is in excellent condition, each image retains its full color and there is NO spidering, NO mold, NO violet spots, NO bubbling on reel.