This is a vintage original 1938 A.C. Gilbert American Flyer Trains catalog.  I believe this is the first catalog issued by the A.C. Gilbert Company to feature American Flyer trains.  The founder of the original American (Chicago) Flyer company W.O. Campbell sold the company of A.C. Gilbert in December 1937 and this 1938 is the first issued by A.C. Gilbert to feature these trains,.  The title page indicates this catalog is “Form D1259”. 

This catalog is an oblong booklet format of 32 pages including the covers measuring about 10.25” x 6.5”.  This vintage original catalog is fully complete and intact with light handling wear and some dust staining to the covers.  The inside pages are clean throughout.  Overall condition is very good.  Email any questions.  Thanks for looking.