Lionel 340E Set Value

Original paint, Original box, all original in excellent condition.

$2000 plus.

Tough call, but original sets can be in that price range of $2000. However with original tinplate, rarity and condition make all the difference. An absolute stunning original with good set box and interior component boxes could draw a lot more than that.

The train is fairly difficult to come by with the black 318E and red and black 517 caboose. So, the condition will either make it or break it. There are no component boxes, but if the set box has the correct number and legible label on the side, that's a plus.

The one thing that jumps out at me is that the track is in the box with the train, so inspect it and make sure that the track did not damage the train. I'd hate to see $25 worth of track damage a fairly tough set to find.

Repainted/restored items are generally worth no more than say the MTH reproduction, if done fairly well, so look at that as well.

If you should acquire the set, post some pictures.

Thanks everyone for the info. I hope to see it in person tomorrow at a estate sale depends how long the line is

Here's some more photos.

They sure do not know how to handle them.

From pics: NOT my idea of "Excellent." But will follow with interest.

It has the correct box which should have good value.

The engine could clean up. The stamps on the one car look rough.

Condition is so important with the trains even rare ones like this.

The box condition does not matter as there probably are not many around so any collector would have to take anything and pay for it. To make that $2000 figure the box will need to be worth alot.

Some more photos. Look at the o guage tender the headlamp from the 318 is sitting on top. Also the caboose has a rust spot on top.

franktrain

I made it to the estate sale and the set went for $600.00. I passed on it mostly because I do not collect Standard gauge and the wheels were blown out on the engine. The guy right behind me bought it without reallly looking at it, so I guess it was a good deal.

I did pick up some o gauge tinplate so I'm happy.

franktrain 

Wonder if it will show up at the usual place at 3-4 times/price?  

When I said that there was 1 photo of tops only. One could not tell if if they were repainted, if the box was original or what condition the cars are in as there was only a top view of them.

Meeting the above criteria $2000 plus would be correct.

I do not see any dents and one can not tell how much dust and dirt is on the set. It may clean up to be an excellent.

This set will certainly turn up at an auction house, e-bay or York.

$600 was a steal.

I hope so...I would like a shot at it!!! I'd not waste my time being jealous of someone profiting off of this set...this is one of the most rare sets ever pictured on this Forum!!!

I'm "curious" and if you were better at mind-reading you'd know that.

Nah...definitely tinplate envy!!!  Hocus...pocus...keep your focus!!!  Back to the point...Hope it goes on Ebay!!!  Judging from the box..I'd say the rest of the set is pretty good...I see some marks on the hoppers...blown wheels are not a factor on the loco...truly a great set if caboose and loco are original!.  I bought the 390 Coal Train years ago for over $2,000!

Take a look in the mirror.  Sounds like collector high-anxiety.

I think $600 was a steal, and if present, I'd have jumped on it. Price on originals all depends on what the item is and who shows up. The guy that bought it was the smartest guy there that day, concerning that particular train.

It's just a rare train to find, and then to find the set box with the correct number makes it a near impossible find to duplicate. I doubt that we'll ever see another set/setbox on this forum ever again and  especially not for $600.

The Lionel 349E is one of if not the rarest Lionel standard gauge set from the classic period. And the original box makes this set infinitely more rare. While it is true there are no interior boxes. There is nothing special about the interior boxes either except the 318 box. But I am sure that I can find a 1929 318E box without a color stamped on it. The set box is the irreplaceable one and the side label with the set number on this one is nice and clean.

The set is far from perfect but it is all original with no touch ups. It is not a bunch of pieces someone took and repainted to make up a rare set. Replacement wheels on a set like this will not effect the value at all. And the two missing headlight castings can easily be replaced with originals.

I also thought $600. was a steal for the set. I did not need to look closely at the set. I saw the pictures that had been posted and did not want to loose the set to someone else by hesitating. At auction the set box alone would probably go for that or more. The set has gone into my private collection. So you will not see it on eBay or at one of the toy train auctions any time soon. Tom

Congrats are in order...great find!!!  Ron B.

Good.  Better a collector gets a good deal than a dealer makes a fast buck. Enjoyed reading your account of the estate sale.  Lots more discussion on the Standard Gauge list.

Tom,

Good to see you on the forum! You are right if you hesitate on something it will be gone fast. I hope you can post a photo of the whole set on display for us.

Frank

Yes...thank you very much...just replied!!!  THANK YOU, Ron B.

I would imagine the set box was worth more than $600.

Al

MTH has a prewar repro 340 set if you want new condition for a similar price.

Thanks for you kind comments everyone! I will try and post pictures of the set in the next day or two. I need to make a some display space for it on my shelves. Tom

Congratulations on the set and Welcome to the forum Lost Bears.  If you are into tinplate, which you clearly are, you'll like this place, a lot of good folks sharing and enjoying the best kind of trains ever made - tinplate.

John.

Thanks! I collect both standard and O gauge tinplate trains. Here is a picture of the coal train on display with some of my other standard gauge trains. Tom

As a long time collector of both standard gauge and prewar O I am envious of your newly acquired coal train. Congratulations on your find and I'm glad that the set found a good home. I want to add my "welcome to the forum" and I'm sure you will find many like minded train friends here.

Eric Hofberg

TCA, LCCA

Tom, let me add my welcome to you on the forum. 

And congratulations on being sharp and nabbing the set.

Nothin's funner 'n tinplate!

I saw a outstanding Coal Train in a video some time back and was impressed. Very nice looking outfit. Congratulations.

Steve

Tom,

Thanks for posting the photo. Its a impressive train and it looks good on your wall. 

I think I'm having regrets I better stick to O ,but someday......

franktrain 

quote:

I think I'm having regrets

Don't feel too bad. Over the years I've passed on numerous items that I "should have purchased" but I just wasn't in the mood at that particular moment.  They are only toys.