This item is from the personal collection of Bruce Fox, 30+ year employee of Fisher-Price, historian and author of "Fisher-Price-Historical, Rarity, and Value Guide, 1931-Present".

I finally got this toy with the original oilcloth wings after over 35 years of trying, and I had to go to England to find it. The reason it is so rare is that it was only made for Easter 1938, and the oilcloth wings would deteriorate and either fall off or get pulled off of the toy. This example is as good as it gets unless you find one of the handful that exist with the original wings. A must have for the serious Fisher-price collector. 

The funny duck sound still works on this when you pull the strings. The rubber bill is still intact. 

Enjoy!