The 1932-D and 1932-S Washington quarters hold a special place in numismatic circles, celebrated for their low mintages and significant historical value.
These coins, minted during the inaugural year of the Washington quarter series, are highly coveted by collectors and investors alike.
Historical Context
In 1932, to commemorate the 200th anniversary of George Washington’s birth, the U.S. Mint introduced the Washington quarter, replacing the Standing Liberty quarter.
This new design, crafted by sculptor John Flanagan, featured a profile of George Washington on the obverse and a heraldic eagle on the reverse.
The economic challenges of the Great Depression led to reduced demand for new coinage, resulting in notably low mintages for the 1932 quarters, especially those from the Denver (D) and San Francisco (S) mints.
Mintage Figures and Specifications
The 1932 Washington quarters were produced at three mints: Philadelphia, Denver, and San Francisco. Below is a summary of their mintage figures and general values:
| Mint Location | Mintage | Approximate Value (VG-8 Grade) |
|---|---|---|
| Philadelphia (No Mint Mark) | 5,404,000 | $8 |
| Denver (D) | 436,800 | $175 |
| San Francisco (S) | 408,000 | $180 |
Values are approximate and can vary based on market conditions and coin condition.
Design Details
- Obverse: Features a right-facing profile of George Washington, inscribed with “LIBERTY” above and the motto “IN GOD WE TRUST” to the left.
- Reverse: Showcases a heraldic eagle with outstretched wings perched on a bundle of arrows, with two olive branches beneath. The inscriptions “UNITED STATES OF AMERICA” and “QUARTER DOLLAR” encircle the design.
Factors Contributing to Value
Several factors contribute to the high value of the 1932-D and 1932-S quarters:
- Low Mintage: Both coins have mintages below 500,000, making them scarce compared to other issues in the series.
- Historical Significance: As the first year of the Washington quarter series, 1932 holds particular importance for collectors.
- Condition: Coins in higher grades, especially those with minimal wear (e.g., Mint State), command significantly higher prices.
- Market Demand: Strong collector interest in key date coins drives up their market value.
Recent Auction Records
The 1932-D and 1932-S quarters have achieved impressive prices at auctions, particularly in higher grades:
- 1932-D: In 2008, a 1932-D Washington quarter graded MS66 by PCGS sold for $143,750, setting a record for this issue.
- 1932-S: A 1932-S quarter in MS66 condition fetched $45,500 in an online auction in 2020.
Collecting Tips
For those interested in acquiring these numismatic treasures:
- Authentication: Due to their value, 1932-D and 1932-S quarters are often counterfeited. Purchasing coins certified by reputable grading services (e.g., PCGS, NGC) ensures authenticity.
- Condition Assessment: Even slight differences in condition can lead to substantial variations in value. Familiarize yourself with coin grading standards or consult with experts when evaluating potential purchases.
- Market Research: Stay informed about current market trends and recent auction results to make educated purchasing decisions.
Conclusion
The 1932-D and 1932-S Washington quarters are among the most valuable regular-issue quarters in U.S. coinage history. Their low mintages, historical significance, and collector demand make them prized assets for numismatists.
Whether you’re a seasoned collector or a novice, these coins represent a tangible connection to America’s past and a noteworthy addition to any collection.
FAQs
Why are the 1932-D and 1932-S quarters so valuable?
Their low mintages, historical significance as first-year issues, and high collector demand contribute to their substantial value.
How can I identify a 1932-D or 1932-S quarter?
Look for the mint mark (“D” for Denver or “S” for San Francisco) on the reverse side of the coin, below the eagle and above the “R” in “QUARTER.”
What should I consider when purchasing a 1932-D or 1932-S quarter?
Ensure the coin’s authenticity by buying certified examples, assess its condition accurately, and research current market values.
Are there counterfeit 1932-D and 1932-S quarters?
Yes, due to their value, these coins are sometimes counterfeited. Purchasing from reputable dealers and seeking certified coins can mitigate this risk.
How does the condition of the coin affect its value?
The coin’s condition, or grade, significantly impacts its value. Higher-grade coins with minimal wear command higher prices in the market.
