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I came across this section of trains for the first time today while browsing eBay... Is this Lionel's version of MTH Premier cars? Like are these true 1:48 scale trains? I can not find too much information on them 
I know, but they are all O gauge, and you can still buy the last two sizes...Those boxcars look to be representative of different eras, oldest at the top to most modern at the bottom.
RailKing "traditionally sized" O Gauge trains are M.T.H.'s best-selling and least expensive product line. Before World War II, train hobbyists were less concerned with authenticity than are many current collectors, so the model trains were not generally made to scale. Rather, they were smaller than a proper O Scale model would be, and many model railroaders became accustomed to this size train. These cars and engines, represented today by the M.T.H. RailKing line, run on the same O gauge (width) track as O scale models, but because they are shorter, they can make tighter curves. Most RailKing models can maneuver a circle with a 31-inch diameter, and some can operate on curves even smaller than that. This is a real advantage for model train enthusiasts who prefer to keep their layouts small.
M.T.H. Premier Line trains are the gold standard in O Gauge model railroading. These models feature scale proportions, realistic detail, and solid construction that provides smooth, powerful performance. No other O Gauge manufacturer approaches this level of accuracy and overall quality. One of the Premier locomotives' and cars' most impressive features is the authentic detail in the 1:48 scale products. Each item features a precisely designed body and a crisp, detailed paint scheme modeled closely on the prototype. The engines boast details like stainless steel grill details, spinning roof fans, operating lights, operating metal couplers, and variable smoke output. And while the authenticity of detail is designed to please the most discriminating model railroader, the locomotives are designed to run on the 3-rail track that most O Gauge railroaders prefer.