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As far as I know the 1937 and 1938 700E can be identified by the serial numbers.  I do not think 1939 production can be identified. It is possible that 1939 and beyond production were made from parts already in stock.  There are more die casting problems with the 1937 boiler shell than later years.  Lionel made some changes to try to address these problems in 1938.   1937 700E locos are probably getting scarce because of the die casting problems, but because of the die casting problems I would try to avoid the 1937 version.  Original 700E locos are expensive, but available. I would not call them rare. But given the number of used original parts on the market, it appears a lot of locos have been dismatteled, probably due to boiler shell problems. 

The 1939 model has its own distinguishing features the easiest to check will be it's the only year 700e with 10-1 gear ratio and no serial number on the frame under the front truck. There's also some differences with the rivets used on the siderods. With the internet 700e's are becoming less rare than they once were but they are still in demand. The value is all in the condition. About all I collect is prewar Lionel, esp the Hudson's so if you'd like an appraisal email me some nice clear pics the more pics the better or if you live close enough I'd rather look in person. Also if you're looking to sell I'd be interested in buying it.

I would love to find one of these. I don't think my uncle has one in his collection that I know of. He does have a ton of stuff, mostly from the post war period. I think he has a few that were made in 1945(other sets that I am not sure if I have ever seen run). It would be interesting to know if he did. I will have to ring him up and ask him when he is not working(hard to get a hold of him).

leapinlarry posted:

Although the 700E (1937 1938 1939), are so Rare, they are the Steam Locomotives that made Our Hobby Great....Being that I am a semi-operator, my favorite Hudson is the VisionLine Black Hudson.  I love the Bells and Whistles....

Honestly, I think the new Vision Hudson is even rarer and more in demand than the original is now! That honestly says a lot about the attitude of the hobby's participants right now.

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