AC current shunts are used for precise current measurements. The application of AC current shunts requires that their amplitude phase characteristics are known. A group of three geometrically identical current shunts and a reference shunt are observed in this paper. The phase characteristics of the reference shunt have been previously obtained. A relative phase comparison has been made between the three geometrically identical shunts, and phase displacement values for each have been obtained. After this, the results are verified with the reference shunt. The relative method is most suitable for shunts, where their respective RC and L/R values are small (compared with 1/ω) and of the same order. The ratios of the nominal resistance values of the shunts used in this paper are at the limit of the given statement. The conclusion is that the method applied at the mentioned limits, in terms of the metrology-grade phase angle determination of current shunts, is not to be considered reliable at frequencies higher than 1 kHz.