All that it's wrapped up to be

 Pez came packaged in alot of ways.  Some common, some not.  Generally speaking, a dispenser is worth more when it is still contained in its unopened original package.  Though it is also important to note that not all dispensers came in packaging (for example, the crystal K-9 series only came loose).  The particular packaging this Police Pez Pal is in is called Cello.  A lot of times, packaging is referred to in abbreviations.  This would be MIC, for Mint In Cello.  They usually come with 1 or 2 candy packs, and some sort of insert (though there is not always an insert).

 This is a typical USA Mint On Card dispenser, or MOC.  It is a plastic bubble that is glued (usually very poorly) to the Pez card.  The cards are sometimes specific to an individual dispenser, to a series of dispensers (like this Yoda on a Star Wars series card), or a generic "Favorites" card that can pretty much have any dispenser on it.   Newer MOC dispensers generally come with 3 candy packs and sometimes an insert.  Older MOC versions can have more or less candy packs.

 This is a typical USA Mint in Bag, or MIB dispenser.  Generally comes with 2 candy packs and an insert.  The bag can come in a variety of colors, some colors specific to holiday series (such as orange to the Halloween series).  The current bag is blue and has floating candies on it.   

 This is a typical foreign MOC carded dispenser.  This particular card is older and known as a "striped" card.  Instead of a bubble glued to the card like those in the US, the dispenser is shrinkwrapped to the card.  Newer versions of these cards have graphics instead of the stripes.  It is important to note that not all dispensers available in the US are available in the foreign markets and vice-versa.  These cards are sometimes referred to as "european" cards, which is not completely true because they also were sold in Canada and Asia.

 This is the current foreign packaging.  It is a plastic bubble, sort of a hexagon.  The cards are signicantly smaller than its US counterparts.

 For a while, Pez dispensers could be purchased from vending machines.  After you put in your monney and pull the appropriate lever, you would receive your dispenser in a vending box.  These can bring big $$$ even opened and without a dispenser.  Some, like this Oswald box, told the dispenser's name on the side of the box.  Later boxes had full color graphics, and the name of the dispenser was stamped on the end of the box.

 This is a sought after version of the foriegn striped card that is known as the "Halo" card, for the light area behind the dispenser's head.

 This is another variation on the foriegn card that is known as the "Sugar-Free" card.  Bet you can guess why, yep, the candy packs included are sugar-free.  These cards have added value because they are difficult cards to find.

 Here is a difficult version of the USA card to find.  It is called the "Kosher" card.

 I don't know much about the origins of this piece, but doesn't it look great?  Came with a Box Patent Regular.  Way way sharp, possibilty that this piece might have been a salesman's sample?  Anyway, really cool and wish it was mine.

 How about this SUPER - DUPER Pack?  Again, I don't know to much about this item, other than it looks cool and there's not been that many showing up.

 Pretty common variation of the foreign striped card, the dispenser/Body parts card. 

 This is what they call a Regular in a Presentation Case.  They show up from time to time on ebay, but are considered pretty rare.

 Another variation of the foreign card: this is called the "Floating Candies" card.

 This is how the infamous Make-A-Face came packaged in the good ol' USA.  To see the foreign version, check the upper left hand corner of this page.  Interesting note: the USA version came with 1-2 pieces more than the foreign version.

 Much older version of the USA card.  These are available in a 2 candy pack version, and versions with solid blue and solid red backgrounds.

 This is the "Limited Edition" card that only special offers from Pez and Pez.com come on.  That is until they have too many and sell them at dollar stores.  Either way, nice card, though I have really had trouble with the glue on these.