The design of this ring is very similar to the contest prize ring of 1940 offered in the previous lot. Both rings read “Supermen Of America”. However, the prize ring reads “Member” and this ring reads “Action Comics.” We know of 23 examples of the prize ring and this example is one of only seven known to us with the “Action Comics” text. We believe this ring dates from either 1939 or 1940. On the interior band is the inscription “Made In U.S.A.” along with a small letter “U” with arrow design crossing it, which was used as the symbol by the ring-making firm Uncas. On several rings from this era (Spider, Operator 5) this inscription indicates the ring was produced for export to Canada and we suspect that it why this version is both different from and rarer than the Prize version. In addition to the text difference, this ring differs from the Prize ring primarily as follows: the Prize ring features a pair of lightning bolts on the right side and planet design on the left side. On this ring, each side has a vertical line which divides to form a small diamond shape and comes together at the top with a pair of small circles. There are also two noticeable differences on the Superman image. On this ring there is a tiny peak of hair extending to the right side of Superman’s head that does not appear on the Prize ring. Also on this ring, the broken chain on the right side is a little longer and noticeably curves up higher than on the Prize ring. While DC Comics has no record of this “Action Comics” ring being produced, we believe that was simply a matter of inadequate record keeping as there is no question of this ring’s authenticity. The ring has full silver luster and the red paint is 95% complete and displaying to the naked eye as 98% complete. NM and the best example known to us. Franco Toscanini Collection. A modest opening bid.