1921 50C Alabama 2X2 MS67+ Certification #32961650, PCGS #9225
The Alabama "2x2" has traditionally been considered to be a lower mintage and rarer coin than the "plain", i.e. no 2x2 Alabama variety. But the fact is that both coins appear to be of similar rarity in all grades including Gem condition. Check out my narrative on the regular Alabama (coin #9224) for an explanation of this controversy.
The average grade for an Alabama 2x2 is MS62 or MS63. The Alabama 2x2 is one of the rarer silver commemoratives in Gem condition. When you do encounter a mint state Alabama 2x2, the luster is generally frosty, or the coin has some degree of toning. So some 2x2s are white and frosty, some are beautifully toned, and some are dark and dingy. Obviously this is an issue for which eye appeal is very important, and the eye appeal of this coin can vary greatly.