David Hall: With an original mintage of just 2,104 pieces, all 1939-D Arkansas are rare in an absolute sense. Most were saved, perhaps as much as 95% of the original mintage, and nearly all survivors grade MS63 to MS66. The 1939-D is slightly rarer than the 1939-S in MS65 or better condition, and not quite as rare as the 1939. Most 1939-D Arkansas have the subdued "Arkansas type" grey frosty luster, or varying degrees of toning.
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