The design of this ring is very similar to the contest prize ring of 1940. Both rings read "Supermen Of America." However, the prize ring reads "Member" and this ring reads "Action Comics." The Hake Guide (2008)reports 21 known of the prize ring and this example is one of seven known to us with the "Action Comics" text. We believe this ring likely dates from 1939. On the interior band is the inscription "Made In U.S.A." along with a small letter "U" with an arrow design running through it which is the symbol for the ring maker Uncas. In addition to different text, this ring differs from the prize ring primarily as follows: the prize ring features a pair of lightning bolts and planet design on each side. On this ring, each side has a vertical line in brass and the line then divides to form a small diamond shape coming together again at the top of the diamond and finishing off as a pair of 1/16" diameter raised brass circles. There are also two small 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 there is no question of its authenticity and with only 7 examples known it is certainly rare. Most silvering is off the side bands except it remains in the recessed areas on the top half of each side. All silvering remains on the octagonal top. The brass circle has no luster. The details on Superman's face are tiny but clear to the naked eye but his nose is flat under magnification. No traces of red paint but some black material in the letter crevices seen microscopically may be remnants. Smooth bands. A Solid Fine example. Hake Guide 2008 values of Good $4,000., Fine $8,000, NM (only 1 known) $16,000. Only 4 known including this are Fine or better.