The effect of aging on the precipitation of grain boundary phases in three austenitic stainless steels (AISI 347, 347AP, and an experimental steel stabilized with hafnium) was investigated. Aging was performed both on bulk steels as well as on samples which were subjected to a thermal treatment to simulate the coarse grain region of the heat affected zone (HAZ) during welding. Aging of the bulk steels at 866 K for 8000 hours resulted in the precipitation of Cr23C6 carbides, σ, and Fe2Nb phases; the propensity for precipitation was least for the hafnium-stabilized steel. Weld simulation of the HAZ resulted in dissolution of the phases present in the as-received 347 and 347AP steels, leading to grain coarsening. Subsequent aging caused extensive grain boundary Cr23C6 carbides and inhomogeneous matrix precipitation. In addition, steel 347AP formed a precipitate free zone (PFZ) along the grain boundaries. The steel containing hafnium showed the best microstructural stability to aging and welding.