Nice pick-up Mike. That is a type nine bf3 premium. There are only four teams in the type nine set, the cubs,white sox, bees and cardinals. I have only seen two premiums in the set, the managers for the cubs and white sox. My un-educated guess, based on the few premiums I have seen is that they were probably store display pieces, used to advertise the smaller pennants. But your guess is as good as mine.
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Always looking for 1936-38 BF3 mini pennants.
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