AM8= medium ratio 1938. I have a frame with similar angles. Mine is a model '35 of a frame type only available in '37/'38. (The seats stays were sort of rivetted at the seat post lug). It's missing a few original parts, having a later SA AW hub. Reading the catalogue the basic model of mine would have come as standard with a flip over hub (freewheel & fixed). The SA hub was an optional extra. I'll look in the catalogue & see if I can work out your model & post a separate comment. Chain cases were not always fitted to some models, but of course the frames would accommodate. The model '35 did not come with a chaincase, but of course the frame has the threaded boss.
The closest models in the '38 catalogue are models 35 & 37. The 37 has the same frame as yours. The 37 came with an SA wide ratio hub as standard on Endrick rims. Your hub is medium ratio, but perhaps this could have been requested through a dealer; it's not listed as an option. The 37s longer name is "The Sports 'C' Tourist". The 35 is "The Sports Light Roadster". The 37 had a chain case as standard & the 35 none. The 35 had fluted cranks (like yours), whereas the 37 were plain. The 35 had wing nuts, whereas the 37 wheels were bolted on. Both models sported a Terrys saddle & rubber block pedals. Both models frames were black with the front half of the head tube painted in a contrasting colour. The '38 catalogue does not describe the colour, but the '37 says blue (A guess would be sky. I would think Royal or Oxford too dark, but who knows?). Neither model appears to have any graphics on the frames (Some models in the catalogue show graphics, but not these). The chain case has a scripted 'Raleigh' on the lower run of the chain case. Both probably had a heron on the mudguard above a white tail. Finally, it is also possible it's an early 1939 model, utilizing a late '38 hub. In the '39 catalogue it appears that both the 35 & 37 models had fluted cranks. The frames no longer had a contrasting head tube. A large graphic is clearly present on the seat tube, namely 'Raleigh Sports Model'. I would be interested to know if yours has a frame number under the bottom bracket. Mine only has a letter & a couple of feint numbers. I have read that some Raleighs of this time came with a frame number on a plate attached to the caliper, but I don't know if this was in addition to a stamped frame number.
Thanks for your detailed response. It is nice to know the exact model now. It does have a number on the bottom bracket, in addition to the one on the seat tube.
