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 his live appearances with The Monkees. He would use that guitar in their motion picture "Head" for the live version of "Circle Sky", and also for the final original Monkees tour in 1969 with Davy Jones and Micky Dolenz. In a post on his Facebook page in 2011, Nesmith reported that both guitars were stolen in the early 1970s. As with the other Monkees, Nesmith came to be frustrated by the manufactured image of the whole project. He was permitted to write and produce two songs per album, and his music was frequently featured in episodes of the series. Nesmith