I'm beginning to think I should have put this thread down in the Collectibles section. (?)
Doing some quick calculations, I think I can see what is going on with these modern caps.
1.75" equals 44.45 mm. So the modern 45 mm caps will of course screw on, but will always be slightly loose by 0.55 mm. The thread will still have enough "meat" to tighten the cap.
1.5" equals 38.1 mm. So the modern 38 mm caps will always be too small by 0.1 mm. The threads are just a smidgen too small to prevent them from screwing on.
The threads are still standard "400" threads, but the problem is due to the change from imperial to metric sizes.
Eagle in America were making replacement caps for a long time, but these have now become hard to obtain. I note that a modern company in the US, EZ-POUR, is producing a cap that will fit both 1-3/4" and 1-1/2". The caps come with an adapter, so you can use the same cap on both threads. They come in a few basic colours, yellow, red, black etc. At present I cannot find an Australian supplier. Shipping from America may make these caps too expensive. However I do see a few advertised on Amazon. The big drawback is these caps are nothing like the originals and are very modern in appearance. The ideal replacement cap would be one that looks and feels like the original.
EZ-POUR Solid Base Red Cap - Click here to link to websiteIt is a wonder that someone in the world is not still making metal caps in imperial sizes?