David Hall: At 13,012 coins, the 1935 Philadelphia Arkansas was the highest mintage of the three Arkansas of 1935 (Philadelphia, Denver and San Francisco Mints). It should be noted that the actual 100th anniversary of Arkansas' statehood was in 1936, but this was the height of commemorative collecting fever and everyone wanted in on the action so the Arkansas Honorary Centennial Celebration Commission started a year early and keep celebrating the birthday with more coins through 1939. This was definitely overkill, but the mintages were relatively small, especially for the last two years.
Most Arkansas were sold at a premium to collectors, dealers, and investors so very few saw circualtion. Of the 13,012 1935 Arkansas originally minted, probably 11,000 to 12,000 exist today and most are mint state. The 1935 is the highest mintage Arkansas and it is also the most common in all grades. But interestingly, although the mintage of the 1935 is more than double that of the 1935-D and 1935-S, the 1935 is just slightly more common than the other two issues from this year. The design of the Arkansas is very flat and marks and abraisions are usually abundant. So while Arkansas are common in mint state, they are quite rare in superb MS67.
The 1935 is a typical Arkansas issue. The average grade is MS63 to MS65. Circulated examples are almost unknown. Superb MS66 examples are rare and MS67 Gems are extremely rare. Luster is of the frosty type. There are varying degrees of toning and eye appeal is consequently an important issue, as it is on all Arkansas.