First time I've had this one pass through here, and I'm absolutely fine with it grading out Poor to Fair at best. This is the April 26, 1946 issue of Family Circle Magazine, and while I apologize that some boomer made Norma Jean up with their crayon back when they were in short pants, here it is:

Family Circle, April 26, 1946
Marilyn Monroe's first nationally circulated magazine appearance, unnamed and uncredited on the The Family Circle Magazine, April 26, 1946.
Believe it or not this one's actually in the best shape of the lot I bought, a few of which looked like they were pulled from a fire! But I knew that going in and even here at her ugliest I expect Marilyn to bring me a halfway decent profit.
Marilyn Monroe's only cover appearance previous to this issue of Family Circle was earlier in 1946 seated with three others in a photo on front of the Douglas Airview, issued by the Douglas Aircraft Company, January 1946.
Dr. Steven Lomazow's American Periodicals: A Collector's Manual and Reference Guide includes a section with a checklist (and images) of 37 of Marilyn Monroe's rarest magazine cover appearances. I first ran across Dr. Lomazow on Marty Weil's ephemera blog some time back which led me to his own fantastic blog, Magazine History: A Collector's Blog.
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As of 1-13-12 this in near mint condition is currently listed on Ebay for sale, check it out.
Thanks for pointing to it. As of right now it’s at $182.50 but reserve
has yet to be met (got to think someone will at least try bumping it to
$200 to see if that does the trick!). eBay item #280806483592 as of January 20, 2012.