David Hall: The Arkansas Centennial Commission had distributed the three 1936 Arkansas issues. It was decided to use a coin dealer for distribution of the 1937 Arkansas. The task was awarded to the New York firm of Stack's. The mintage of the three 1937 Arkansas issues was a little over half that of the 1936 issues. Stack's sold three coin sets, one of each mint, for $8.75.
The three 1937 Arkansas issues have basically identical mintages (5660 for the Philadelphia Mint, 5660 for the Denver Mint, and 5662 for the San Francisco Mint) so it is not surprising that they are of about equal rarity in MS63 and MS64 condition. In Gem MS65 or better condition, the 1937 is somewhat rarer than the 1937-D, but not as rare as the 1937-S. The average grade for the 1937 is MS63 to MS65. MS66 examples are very scarce, and MS67s are extremely rare. Circulated examples are almost non-exsistent as most of the original issue was saved. Like all Arkansas, the typical 1937 has frosty luster or some toning of varying degrees and eye appeal.