American Flyer Displays & History 

Catalog No. Description
None 1939 Product Line Display
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1938 Display

This photo can be dated to 1939 by the composition of the train sets, particularly those on the top two shelves.  The top row shows the 316 Train Set and the next row down shows the 19 Train Set.  For a better view of the sets, see the photo below.  To compare the compostions of these sets consult the catalogs available at http://www.myflyertrains.org

Closeup view of sets