The 1932 D and 1932 S Washington Quarters, Rare Gems in U.S. Coinage History

Both the 1932-D and 1932-S Washington quarters are highly sought-after by collectors due to their rarity. Minted during a time of limited production, these coins are relatively inexpensive but possess great historical and collectible value. Why have these coins gained so much significance? What kind of value do they hold, and how should collectors approach their rarity?

Historical Context of the 1932 Washington Quarter

The Washington quarter was first minted in 1932 to commemorate George Washington’s 200th birthday, replacing the Standing Liberty Quarter. Designed by John Flanagan, the coin features a portrait of Washington on the obverse and an imperial eagle on the reverse. The production of this coin took place during the Great Depression, a time when new coin minting was not essential. As a result, the Mint at Denver and the Mint at San Francisco produced fewer coins, making these quarters particularly rare.

Mintage Numbers and Rarity

The 1932 Washington quarters were produced in three different locations, but the coins from the Denver and San Francisco mints are especially rare.

Mintage Figures

Mint LocationMintageApproximate Value (VG-8 Grade)
Philadelphia (No Mint Mark)5,404,000$8
Denver (D)436,800$175
San Francisco (S)408,000$180

The Denver Mint produced only 436,800 of the 1932-D quarters, while the San Francisco Mint also struck a limited number of coins. These quarters, because of their low mintage numbers, are valuable and in high demand among collectors. Their prices can fluctuate over time, depending on market conditions and the coin’s condition.

Design of the Washington Quarter

John Flanagan’s design remains simple yet iconic:

  • Obverse: The coin features a right-facing portrait of George Washington with the inscriptions “LIBERTY” and “IN GOD WE TRUST.”
  • Reverse: The reverse depicts an imperial eagle perched on arrows with olive branches, along with the inscriptions “UNITED STATES OF AMERICA” and “QUARTER DOLLAR.”

Factors Influencing the Value of These Coins

Several factors contribute to the value of the 1932 Washington quarters:

  • Low Mintage: With such a small number minted, these quarters are far rarer than other Washington quarters.
  • Historical Importance: The 1932 coins mark the beginning of the Washington quarter series, making them highly significant to collectors.
  • Condition: Coins in better condition, such as those in Mint State, are very rare and can fetch higher prices.
  • Collector Demand: Due to their historical importance and the popularity of the Washington quarter series, these coins are in high demand.

Auction Records for the 1932-D and 1932-S Quarters

These coins have garnered impressive prices at auctions:

  • 1932-D: An MS66 graded 1932-D coin sold for a record $143,750 in 2008.
  • 1932-S: A PCGS MS66 graded 1932-S coin fetched $45,500 in an online auction in 2020.

Tips for Collecting 1932 Washington Quarters

Collectors looking to add these rare quarters to their collections should consider the following:

  • Authentication: Given the high value of these coins, there are counterfeit versions in circulation. It is crucial to authenticate any potential additions to your collection.
  • Understand Grading: Coin value is heavily influenced by its condition. Familiarize yourself with the grading process, or consult with experts to assess the coin’s quality.
  • Monitor Market Trends: Follow auction results and keep an eye on the fluctuating market value of these coins.
  • Invest in Quality: High-grade coins are more likely to appreciate in value over time, making them a better long-term investment.

Why These Coins Matter

The 1932-D and 1932-S Washington quarters are not just valuable collector’s items; they also hold a deep connection to a transformative period in American history. With their rarity, historical significance, and ongoing demand among collectors, these coins make a worthwhile addition to any collection. Whether you are a seasoned collector or a beginner, owning one of these quarters is a remarkable achievement.

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