The Monkees most lucrative venture the three had ever seen in their days as the Monkees, far surpassing the money they had made in the 1960s. Nesmith had little financial need to join in Monkees-related projects, mostly as his mother Bette Nesmith Graham was the inventor of Liquid Paper, leaving Nesmith an inheritance of over $25 million upon her death in 1980. A new album by the touring trio, "Pool It!" (the Monkees' tenth), appeared the following year and was a moderate success. From 1986 to 1989, the Monkees would conduct major concert tours in the United States, Australia, Japan, and Europe.
Michael Nesmith minor hits. One song he wrote, "You Just May Be the One", is in mixed meter, interspersing 5/4 bars into an otherwise 4/4 structure. The Gretsch guitar company built a one-off, natural-finish, 12-string electric guitar for Nesmith when he was performing with The Monkees. (Gretsch had a promotional deal with the group.) He earlier played a customized Gretsch twelve-string, which had originally been a six-string model. Nesmith used this guitar for his appearances on the television series, as well as The Monkees' live appearances in 1966 and 1967. Beginning in 1968, Nesmith used a white six-string Gibson SG Custom for