Ron Guth: With Full Steps, the 1939-S Reverse of 1938 Nickel is approximately ten times as rare as the non-Full Step version. This does not necessarily make it an expensive coin, just that it makes it a little more difficult for a collector to find an example. The typical grade is MS65FS. None have been certified finer than MS66 by PCGS, and the finest example is a single PCGS MS66+FS.
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