David Hall: The New Rochelle was a somewhat contrived issue. It was authorized in 1936, struck in 1937, and had a date of 1938. Whatever the intent of its issue, it is a beautiful design and it is quite popular with collectors today. The original mintage was 25,015 coins and the issue price was a relatively high $2.00. Apparently New Rochelles were subject to above average care in minting and handling as nearly all specimens are very high grade. The average grade is MS64 to MS66. Superb Gem MS67 specimens aren't really rare either. In fact, this issue is scarce in MS63 and for all practical purposes unknown in circulated grades.
The typical New Rochelle has frosty surfaces and is well struck. Minor abraisions are the only problem usually encountered. There are a few specimens that have semi-prooflike surfaces.