The Collectible American Flyer Circus Train

American Flyer, known for its S gauge trains is a brand of toy train and model railroad originally manufactured in the United States.

In December 1937, W. O. Coleman sold American Flyer to Alfred Carlton Gilbert.

Although popular, American Flyer was always the second-ranked brand to Lionel in terms of market share at the high end of the market.  With Louis Marx and Company dominating the low end and a handful of other brands relegated to entry level of the market, Lionel and American Flyer shared premium status  A rivalry emerged between both companies and their fans that continues to this day. 

In 1938, the A. C. Gilbert Company bought the struggling American Flyer model train company and quickly moved production from Chicago to New Haven.  Gilbert retired in 1954 and turned the business over to his son, A. C. Gilbert, Jr.  Eventually, American Flyer was sold to Lionel.