David Hall: The 1936-S Arkansas is a little rarer than the 1936-D and not quite as rare as the 1936. All three issues are among the most common of the 1935-1939 Arkansas. For the 1936-S, the average grade is MS63 to MS65, with circulated examples virtually unheard of. Superb Gem MS66 specimens are rare and MS67 examples are extremely rare. The 1936-S comes with either frosty white luster or some degree of toning. Watch out for the dark, splotchy toning.
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