For nearly a century, the Washington quarter has been a mainstay of American coinage. First issued in 1932 to mark the bicentennial of the first president‘s birth, this iconic 25-cent piece has been struck every year since, in a staggering array of vintages, compositions, and varieties. While most Washington quarters are worth little more than face value, astute collectors know that the series includes some of the most valuable and elusive issues in all of U.S. numismatics.
In this in-depth guide, we‘ll delve into the rich history of the Washington quarter and reveal the keys to assembling a world-class collection. From the classic silver issues of the early 20th century to rare modern errors and varieties, we‘ll explore the coins that have captivated generations of numismatists. Whether you‘re a seasoned specialist or a novice looking to begin your numismatic journey, read on to discover the most coveted Washington quarters and how to make them yours!
A New Quarter for a New Era
In the early 1930s, the U.S. Mint was preparing to introduce a new quarter dollar coin to replace the Standing Liberty design, which had been in use since 1916. With the 200th anniversary of George Washington‘s birth approaching in 1932, Treasury officials decided that the new coin should honor the nation‘s first president.
After considering several designs, the Mint selected a portrait by sculptor John Flanagan, which depicted a stately profile of Washington facing left, with the word "LIBERTY" above and the date below. The reverse featured a majestic eagle with wings outspread, clutching a bundle of arrows and two olive branches. With its simple yet elegant design, the Washington quarter was an instant hit with the public when it debuted in August 1932.
"The new Washington quarter dollar, which will replace the present type of quarter dollar on Aug. 1, was placed in circulation yesterday… The quarter is the first United States coin to bear a likeness of the first President. Its design is simple and straightforward."
– The New York Times, August 2, 1932
Initially, the Washington quarter was struck in a 90% silver composition at the Philadelphia, Denver, and San Francisco Mints. This format would continue until 1964, when rising silver prices forced a switch to a copper-nickel clad composition. In 1975 and 1976, special Bicentennial quarters with a dual date and Colonial drummer boy reverse were issued, including a one-year-only 40% silver version struck at San Francisco.
Key Dates and Rarities
While Washington quarters are plentiful in general, certain dates and mintmarks are scarce to rare in all grades. Below is a list of the most valuable issues in the series, along with recent auction prices for high-grade examples:
| Date/Variety | Grade | Auction Price |
|---|---|---|
| 1932-D | PCGS MS67+ CAC | $89,125 (2021) |
| 1932-S | PCGS MS66+ CAC | $43,200 (2022) |
| 1934 Heavy Motto | PCGS MS67+ CAC | $18,600 (2020) |
| 1937 Doubled Die Obverse | PCGS MS66 | $22,325 (2022) |
| 1943 Doubled Die Obverse | PCGS MS67 CAC | $23,500 (2021) |
| 1950-D/S RPM | PCGS MS64 | $7,200 (2007) |
| 1950-S/D RPM | PCGS MS64 | $16,450 (2022) |
| 1976-S Silver Clad | PCGS MS69 | $19,200 (2019) |
The undisputed "king" of the Washington quarter series is the 1932-D, with a mintage of just 436,800 pieces. Well-struck gems are rare and command strong premiums. "Even low-end Mint State 1932-D quarters are very scarce," notes numismatic author Jeff Ambio, "and when found are usually weakly struck."
The 1932-S is also a key date, although somewhat less rare than the 1932-D. Other pre-war issues like the 1934 Heavy Motto (with an unusually bold "MOTTO" on the reverse), 1937 Doubled Die Obverse and 1943 Doubled Die Obverse are coveted die varieties that are rare in high grades.
Perhaps the most famous Washington quarter varieties are the 1950-D/S and 1950-S/D repunched mintmarks (RPMs), each with just a few examples known. These coins were created when a working die received two different mintmark punchings, one partly over the other. The 1950-D/S shows traces of a faint "S" below the primary "D", while the 1950-S/D has remnants of a "D" under the "S". Both are landmark rarities that seldom trade publicly.
Condition Is King
As the auction prices above demonstrate, the value of a rare Washington quarter is highly dependent on its condition. A coin that‘s attractive for the grade with original mint luster will always sell for a premium.
To evaluate the condition or "grade" of a coin, collectors use the 70-point Sheldon Scale, which ranges from 1 (Poor) to 70 (Perfect Mint State). Most Washington quarters in circulation grade from About Good (AG-3) to About Uncirculated (AU-50). Mint State (MS-60 to 70) examples are uncirculated with varying degrees of luster, marks, and visual appeal.
The difference in value between grades can be immense, especially for conditional rarities like the 1932-D. A recent auction saw a PCGS MS67+ example sell for $89,125, while the same coin graded PCGS MS66 might bring half that amount. "Eye appeal is buy appeal" is a mantra to bear in mind when buying any rare coin.
Strike and Luster Matter
Beyond technical grade, the two most important factors in determining a Washington quarter‘s desirability are strike and luster. Because the Flanagan design includes high points on both sides (Washington‘s hair and cheek on the obverse, the eagle‘s breast on the reverse), it requires an above-average strike to bring up full detail.
"Some issues, such as the 1932 and 1934, are almost always found weakly struck," comments variety expert John Wexler. "When evaluating these coins, look for a specimen that has relatively strong central detail and good peripheral definition. Avoid coins that are overly ‘soft‘ or mushy in appearance."
Original, unbroken mint luster is also a must for a top-tier Washington quarter. Often described as a coin‘s "bloom" or "skin", luster is the reflective sheen imparted by the flow of metal as dies strike a planchet. A coin with undisturbed, satiny luster is more desirable than a "bright" example that‘s been harshly cleaned. Seek out coins with a natural appearance, free of major marks or damage.
Errors and Varieties Add Spice
Beyond the classic key dates, Washington quarter specialists are often drawn to collect rare errors and varieties. While mint errors like off-centers, double strikes, and brockages can occur in any series, the Washington quarter is known for several "exotic" errors that have become numismatic legends.
Perhaps the most remarkable is the 1983-P struck on an arcade token, with just two known examples. These astonishing errors were made when already-struck brass tokens somehow made their way into the quarter coinage stream, ending up overstruck by quarter dies. They stand as two of the greatest mint errors of all time.
Another famous rarity is the 2000-P Sacagawea dollar with Washington quarter obverse, created when a Sacagawea dollar die cap (a coin that adhered to a die) landed between a pair of Washington quarter dies. The resulting "mule" has a golden dollar reverse and quarter obverse, in the wrong size and metal. Just a dozen are known.
More often, collectors pursue die varieties like doubled dies, repunched mintmarks, and misplaced mint marks. Attributed by VAM numbers (after numismatists Leroy Van Allen and George Mallis), these coins often display minor doubling or misplaced elements that make them distinct from regular issues. Cherrypicking a rare variety from a dealer who thinks it‘s "normal" can be the thrill of a lifetime for a specialist.
"There are few greater joys in numismatics than discovering a valuable variety that everyone else has overlooked. The Washington quarter series is a fertile hunting ground for new discoveries just waiting to be made."
– John Wexler, The RPM Book
Tips for Collectors
If you‘re inspired to begin your own Washington quarter collection, consider these tips from the experts:
- Study the series in detail before making major purchases. Specialized references like the Cherrypicker‘s Guide and PCGS CoinFacts offer a wealth of information on key dates, varieties, and relative rarity.
- Consider building a "type" collection of one example each from the major genres (silver, clad, Bicentennial) before delving into a date/mintmark set. This will help you decide which issues most appeal to you.
- Buy the best you can afford, with a focus on attractive coins for the grade. A few high-quality pieces will serve you better than a large quantity of mediocre ones.
- Seek out coins certified by reputable grading services like PCGS and NGC. Their expertise and guarantee of authenticity can provide peace of mind, especially for expensive key dates.
- Take the time to cherrypick for rare varieties. A careful study of mint marks and dates can sometimes yield a valuable "find" hidden in a dealer‘s stock. Carry a loupe and don‘t be afraid to examine lots of coins!
A Series With Staying Power
Compared to other U.S. coin types, the Washington quarter series is remarkably stable in terms of survival rates, value, and popularity over time. While few collectors pursue truly complete sets, many build high-grade collections of one sub-genre or another.
Key date silver issues like the 1932-D and 1932-S have actually increased in value over the past decade, even as rare coin prices have leveled off in general. "They‘re some of the most liquid U.S. coins in high grades," says dealer Stu Levine. "There‘s always a market for top-quality silver Washingtons."
The 1950-D/S and 1950-S/D remain "stopper" coins that few collectors will ever own, but their lofty sale prices and legendary status give them an eternal allure. Likewise, the 1983-P struck on arcade token and other great errors are American numismatic treasures with enduring appeal.
Whether your goal is a Registry Set of superb gems, a complete variety collection, or simply a run of nice circulated examples, the Washington quarter series offers challenges and rewards for every level of collector. With such rich history and diversity, these coins will no doubt continue to charm numismatists for generations to come. As you build your own collection of America‘s most famous quarter, enjoy the journey and the satisfaction of preserving these timeless reminders of our nation‘s past!
Resources and References
- A Guide Book of Washington and State Quarters – Q. David Bowers
- The RPM Book: A Comprehensive Guide to Repunched Mintmark Varieties – John Wexler
- The Cherrypicker‘s Guide to Rare Die Varieties – Bill Fivaz and J.T. Stanton
- PCGS CoinFacts (www.pcgs.com/coinfacts)
- NumisMedia Fair Market Value Price Guide (www.numismedia.com)
