David Hall: The 1939 Oregons, though very low mintages, are somewhat available in Gem condition. Apparently virtually the entire mintage was saved. The average grade for the 1939-D Oregon is MS64 to MS66, and MS67 examples are not truly rare. Of the three 1939 Oregons, the 1939 is the easiest to locate in grades MS66, MS67 and MS68.
The typical 1939-D Oregon is very nice, sharply struck and usually mark-free. The luster is satiny rather than frosty. There are some examples with spectacular toning that occasionally come onto the market and always cause excitement with toning afficianados.