There are known phase-coded (two-valued or polyphase) CW radar signals that exhibit perfect periodic autocorrelation function (PACF). A PACF is perfect when all its out-of-phase autocorrelation values are identically equal to zero. This paper investigates periodic, two-valued, frequency-coded signals. While none could be found with perfect PACF, we present examples with nearly perfect PACF. Their relationship to binary phase-coded signals is also considered. These signals should be attractive for CW radars because of their simple implementation, clean spectrum, and the favorable range response of their matched receiver.