(Borgfeldt, c.1930s) An especially rare Japan-made Donald Duck celluloid wind-up toy from the early 1930s. The toy was distributed by the George Borgfeldt Corporation, the first official distributor of Disney Studio toys. Donald measures 5.5" tall and comes with the original illustrated cardboard box. The box is evenly aged, exhibiting scattered wear and one corner split on the lid. There is slight fading to the blue color, and the hat shows some denting with a tiny hole. While the arms need to be restrung, as a whole, all elements are in fine condition for their age, and the toy still functions.