Ned Ludd Coins » 1932 Quarter Value: are “D”, “S”, No mint mark worth money?

1932 Quarter Value: are “D”, “S”, No mint mark worth money?

1932 Quarter Value

1932 was an iconic year in the history of American coinage. It marked the year the Washington quarters were first produced following the commemoration of the bicentennial of George Washington’s birth.

Hence, they were the first quarters ever produced, and even though they were minted several decades ago, these coins are still of extreme value. In fact, the 1932 Washington quarter is regarded as one of the most valuable quarters in the coin series. Find out more about this remarkable coin in this article.

1932 Quarter Value Details

  • Category: Washington Quarter
  • Mints: Philadelphia, San Francisco, and Denver
  • Total Mintage: 6,248,800
  • Face value: 0.25
  • Shape: Round
  • Diameter: 24.3mm
  • Weight: 6.25g
  • Edge: Reeded
  • Observe designer: John Flanagan
  • Reverse designer: John Flanagan
  • Composition: 90% Silver, 10% Copper

Also Read: Top 15 Most Valuable Quarters In Circulation

1932 Quarter Value Chart

Mint Good Fine Extra fine Uncirculated
1932 Washington Quarter $3.48 $3.48 $4.51 $45
1932 D Washington Quarter $47 $74 $127 $666
1932 S Washington Quarter $47 $68 $92 $247

1932 Quarter Value and Varieties Guide

1932 Washington Quarter

Image Credit: usacoinbook
  • Category: Washington Quarter
  • Mints: Philadelphia
  • Total Mintage: 5,404,000
  • Mint mark: No mint mark
  • Face value: Twenty-five cents ($0.25)
  • Edge: Reeded
  • Shape: Round
  • Diameter: 24.3 millimetres
  • Weight: 6.25 grams
  • Composition: 90% Silver, 10% Copper

The 1932 Washington Quarter minted in Philadelphia has no mint mark and had the highest production for this coin type, with over five million in total, thereby, being more than 85% of the Quarters minted in 1932. This might be a significant reason it is less valuable than the other two varieties since its popularity has led to high circulation. In averagely good condition, the coin is worth about $8 and $13 in an excellent state. Coins that are extremely fine and uncirculated are more expensive, reaching up to $25 or more, depending on their grade. For instance, an uncirculated coin in MS65 is worth about $245.

1932 D Washington Quarter

1932 D Washington Quarter

  • Category: Washington Quarter
  • Mints: Denver
  • Total Mintage: 436,800
  • Mint mark: D
  • Face value: Twenty-five cents ($0.25)
  • Observe designer: John Flanagan
  • Reverse designer: John Flanagan
  • Edge: Reeded
  • Shape: Round
  • Diameter: 24.3 millimetres
  • Weight: 6.25 grams
  • Composition: 90% Silver, 10% Copper

The 1932 D Washington Quarter is one of the most valuable Washington Quarters and is, up till today, still living up to that image. However, surprisingly, it wasn’t the rarest Quarter nor the lowest production in the 1932-coin series, having 436,000, slightly higher than that of the San Francisco mintage and constituting only about 6% of the total Washington Quarters in 1932. These coins produced in Denver are rare, especially in their mint condition. It is indeed a key date and is highly sought by coin collectors and enthusiasts alike.

In good condition, the 1932 D Quarter is sold for between $70 and $105, and in extremely fine condition, it is worth close to $100 to $300. In uncirculated conditions, these coins reach a price of about $1,000 and $10,000, depending on their grade. Thus, these coins are evidently one of the most expensive Washington Quarters ever produced and have been sold for up to $30,000 on auction. They can be easily identified by the “D” mint mark on the reverse under the wreath.

1932 S Washington Quarter

1932 S Washington Quarter
Image Credit: pcgs
  • Category: Washington Quarter
  • Mints: San Francisco
  • Total Mintage: 408,000
  • Mint mark: S
  • Face value: Twenty-five cents ($0.25)
  • Observe designer: John Flanagan
  • Reverse designer: John Flanagan
  • Edge: Reeded
  • Shape: Round
  • Diameter: 24.3 millimetres
  • Weight: 6.25 grams
  • Composition: 90% Silver, 10% Copper

The 1932 San Francisco minted Quarter is also a precious coin. It had the lowest mintage in 1932 and can be hard to find in excellent condition. Also, since some were produced primarily for collectors and kept by the numismatic community, they are rare in every grade.

Low grades of this coin can sell for up to $80 to $100, and high grades can be as much as $4000. Also, these coins have been sold for way higher in auctions and open markets. They are considered rare gems; even low grades are as rare as high ones. So, collectors find it a delight to purchase anyone regardless of their condition and depending on their budget. It has an “S” mint mark.

Also Read: Top 16 Most Valuable Modern Quarters Worth Money

History of the 1932 Quarter

1n 1932, the Washington Quarter came about as a request by the bicentennial committee members for George Washington’s 200th birth anniversary to create a Washington half dollar. This coin was to have Washington’s portrait and last one year. However, congress moved to keep the coin and permanently replace the Standing Liberty Quarter.

Initially, the committee had sought Laura Gardin Fraser, who designed the commemorative medal to design the Quarter, which the Commission of Fine Arts supported. But Treasury Secretary Andrew W. Mellon picked John Flanagan’s design over hers, and his decision was upheld.

The design has the left portrait of George Washington on the obverse, adapted from Jean Antoine’s sculpture of him. Over his head is the word “LIBERTY”, and the phrase “IN GOD WE TRUST” is inscribed on the left under his chin. Lastly, beneath Washington’s portrait is the year of mintage 1932. From 1932 to 1964, the Washington Quarter’s mint mark wasn’t located on the obverse. It was in 1965 that the mint mark was written on the obverse behind Washington’s hair tie.

Meanwhile, the reverse of the coin features the picture of a heraldic eagle with outstretched rings and a bundle of arrows it’s perched on. Underneath the eagle are olive branches creating a U-shape around the base of the eagle. And just below the olive branch is the coin’s mint mark: “S” or “D” then, its value, “QUARTER DOLLAR”, while above it is the Latin phrase “E PLURIBUS UNUM” meaning “out of many, one”. Lastly, along the top of the coin close to the rim, the “UNITED STATES OF AMERICA” is written boldly.

This coin was created with 90% Silver and 10% copper. However, it wasn’t until 1964 that it was switched to a cupronickel composition. Also, the design by John Flanagan lasted from 1932 to 1998 until 1999, when it was modified by William Cousins and was later changed to one designed by Laura Gardin Fraser.

Also Read: 10+ Rarest State Quarter Errors Lists (Worth Much Money!!!)

1932 Quarter Grading

The 1932 Washington Quarter is a generally collectable coin and also considerably valuable. But this value differs depending on the coin’s condition and how it is graded. Coin grading companies use the Sheldon grading scale to determine the state of the coin and how much they’re worth. This condition ranges from poor (P-1) to mint state (MS 70) and can also be expressed with common words. It is crucial to know this to understand how the grading system works:

  • Uncirculated: A quarter in this condition has never been circulated or sold, so it has no wear or damage. It still has its details, fineness, and lustre intact, preserved over the years. Collectors usually seek these types of coins.
  • Extra fine: A coin in this grade will resemble the circulated coin. However, when observed closely, it can be seen that some wear and tear is noticeable, as well as surface scratches and a slight loss of details in the hair and cheeks. But the coin still is very sharp with all the details in place.
  • Fine: This coin has sustained noticeable damage, especially in areas where the hair and ear have started to merge and smoothen. But the elements are still bold, and the details are visible.
  • Good: The coin has been heavily circulated, and its details have flattened. The damages of the coin in this state are apparent, and some letters may not be readable. Also, these coins are those sold at a cheaper rate since they’ve lost their shine.

Watch this video  to see the values and grades of 1932 Washington Quarters

1932 Quarter Errors

Some Washington Quarters are minted with specific abnormalities that make them unique, whether by mistake or design. Some of these might be due to errors from the die or planchet during production or this equipment wearing out from improper maintenance. Whatever it is, most of these are considered and sold at very high prices because of their uniqueness. Here are some examples of 1932 Quarter error coins:

1. Double Die Obverse

Double Die Obverse
Image Credit: ebay

This error occurs when a coin gets struck twice due to a delay in the automated feeder fingers or a stuck coin. Sometimes, the coin might be double-struck or multiple-struck, leading to details appearing multiple times, thereby deforming the coin. This error coin is considered very valuable. For example, a 1932 doubled die coin was once sold for $250 in MS63 and $1000 in MS65.

2. Cud Error

This kind of error looks like a blob on the coin. It is caused by die breaks or cracks that have been left untendered. It can also result from die chips: a part of a die being broken or damaged. The cud raises the part of the coin it appears and causes the letter or inscription to be blank. A 1932 Quarter cud error is sold for around $109.

3. Broad Struck Error

The coin is broad-struck, causing the coin to expand a bit, obliterating the collar that forms the coin’s rim. This coin is sold for about $100 to $200.

4. Doubled Die Outburst

This coin has a partially doubled image but is not noticeable if you don’t look closely. Ironically, the more pronounced the doubling is, the higher the coin is worth. This coin is sold between $100 and $300.

5. Die Cap Error

This error occurs when the die creates a bottle cap outside of the coin due to the coin sticking to the hammer for too long. This coin costs little and can be sold for up to $80 to $100.

6. Off-centre Strikes

When the die hits a disc positioned incorrectly, the design and details of the coin are usually displaced. The value of this error coin is usually below $25, you’d be lucky to sell it for a price slightly above that.

Find the most valuable 1932 Washington Quarters in the video below.


1. How Much Is A 1932 P Quarter Worth?

A 1932 P Washington Quarter is sold in averagely good condition for $32 and above. It is not hard to find since it has the highest mintage of the 1932 quarter series. If you want to collect one of these, you should look for 1932 quarter coins with no mint mark.

2. Is A 1932 S Quarter Worth Anything?

This Quarter had the lowest mintage of the coin series, with the 1932-D following closely behind, making it a rare gem. However, the coin is worth over $200 in its average state and was once sold in 2013 was sold for $35,250 in a near-perfect mint state condition.

3. How Much Silver Is in A 1932 Quarter?

Washington quarters in 1932 were produced in 90% silver with a total of .1808 troy oz or 5.623 grams pure silver. Nevertheless, it was only after 1964 that Washington quarters were switched to a cupronickel composition.

4. Which 1932 Quarter Is Worth the Most?

The 1932 Washington quarter produced in Denver is the most priced Quarter of that series and may even be described as the most Washington quarter ever minted.

5. What Quarter Is a Rare Quarter?

The 1932-D and 1932-S quarters are rare Washington quarters as they had under one million mintage and are primarily uncirculated. The Denver mint produced 436,800 quarters, while the San Francisco mint produced 408,000.


The 1932 Washington Quarter is a rare and unique coin not only because it was the first Quarter to be minted but also because of its rarity and low mintage. As a result, this coin is one of the most valuable coins of the Washington Quarter, and collectors are on the lookout for it. Mainly the 1932-D is the most valuable coin, and you can make thousands of dollars from these if you have them in your possession in good condition. Also, the 1932-S is equally a gem worth about $1000 or more in pristine condition.

Essentially, coin grades, conditions, rarity, and errors are factors that affect their prices. And the 1932 quarter is a coin worth collecting in any grade and condition and is worth a lot. However, if you seek to purchase any of them in exceptionally high grades, it is advisable to have a large budget as you’re gunning for a gem!

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