A previously derived photometric parallax of 10.10 ± 0.20 mas, d = 99 ± 2 pc, is confirmed for Polaris by a spectroscopic parallax derived using line ratios in high dispersion spectra for the Cepheid. The resulting estimates for the mean luminosity of 〈MV〉 = −3.07 ± 0.01 s.e., average effective temperature of 〈Teff〉 = 6025 ± 1 K s.e., and intrinsic color of (〈B〉 − 〈V〉)0 = +0.56 ± 0.01 s.e., which match values obtained previously from the photometric parallax for a space reddening of EB−V = 0.02 ± 0.01, are consistent with fundamental mode pulsation for Polaris and a first crossing of the instability strip, as also argued by its rapid rate of period increase. The systematically smaller Hipparcos parallax for Polaris appears discrepant by comparison.