Why the 1932-D and 1932-S Washington Quarters are Worth Big Money

The 1932-D and 1932-S Washington quarters are considered highly valuable and rare treasures in U.S. coinage history. These coins were minted during the first year of the Washington quarter series and are sought after by collectors and investors because of their low mintages and historical significance. If you are interested in collecting coins or just learning about them, understanding the importance of these quarters will give you an insight into their value and why they are so special.

Historical Context of the 1932 Quarters

In 1932, the U.S. Mint introduced the Washington quarter to honor the 200th anniversary of George Washington’s birth. This new quarter replaced the previous Standing Liberty quarter and featured a design by sculptor John Flanagan. The obverse (front) of the coin displays a profile of George Washington, while the reverse (back) features a heraldic eagle with outstretched wings.

The introduction of this new coin occurred during a difficult time in American history. The country was going through the Great Depression, a period of widespread economic hardship. Due to the economic challenges, there was a lower demand for new coins, leading to fewer quarters being minted, especially at the Denver (D) and San Francisco (S) mints. This low production makes the 1932-D and 1932-S quarters particularly rare.

Mintage Figures and Value of the 1932 Quarters

The 1932 Washington quarters were produced at three different mints: Philadelphia, Denver, and San Francisco. The mintages (the number of coins produced) for each of these mints were significantly different, which directly impacts their value today.

Mintage Numbers and Value Estimates:

• Philadelphia Mint (No Mint Mark): 5,404,000 coins minted. Estimated value in VG-8 (Very Good) grade: $8.
• Denver Mint (D Mint Mark): 436,800 coins minted. Estimated value in VG-8 grade: $175.
• San Francisco Mint (S Mint Mark): 408,000 coins minted. Estimated value in VG-8 grade: $180.

The difference in mintage numbers explains why the 1932-D and 1932-S quarters are so much more valuable than the Philadelphia-minted coins, which were produced in much larger quantities.

Design Details of the 1932 Washington Quarters

The design of the 1932 Washington quarter is both simple and beautiful, making it a standout in U.S. coinage.

• Obverse: The front of the coin shows a right-facing profile of George Washington, with the word “LIBERTY” above and the phrase “IN GOD WE TRUST” to the left.
• Reverse: The back of the coin features a heraldic eagle with outstretched wings, perched on a bundle of arrows. The eagle is surrounded by olive branches, and the words “UNITED STATES OF AMERICA” and “QUARTER DOLLAR” are written around the edges.

These design features have become iconic, representing not only the first year of the Washington quarter but also a period in American history.

Factors That Affect the Value of 1932-D and 1932-S Quarters

Several factors contribute to the high value of these two quarters:

1. Low Mintage

Both the 1932-D and 1932-S quarters have a low number of coins produced. With fewer than 500,000 coins minted at each of these mints, they are much rarer compared to other coins from the same era.

2. Historical Significance

As the first year of the Washington quarter series, the 1932 coins hold a special place in U.S. numismatic history. Collectors are especially interested in these coins because they were part of a major change in U.S. currency design.

3. Condition

The condition of a coin plays a huge role in its value. Coins in better condition, such as those with minimal wear and in Mint State (un-circulated) condition, can be worth much more. The 1932-D and 1932-S quarters in top condition are some of the most valuable U.S. coins.

4. Market Demand

The high demand from collectors for rare and historically significant coins also drives up the value of these quarters. As more people recognize their worth, their market price continues to rise.

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

The 1932-D and 1932-S quarters have fetched impressive prices at auction, especially when they are in excellent condition. Here are some record-breaking sales:

• 1932-D Quarter: In 2008, a 1932-D Washington quarter, graded MS66 by PCGS, sold for $143,750 at an auction. This was a record price for this coin.
• 1932-S Quarter: A 1932-S Washington quarter in MS66 condition sold for $45,500 in an online auction in 2020.

These prices highlight just how valuable these rare quarters can become, especially when they are in pristine condition.

Tips for Collecting 1932-D and 1932-S Quarters

If you’re interested in adding the 1932-D or 1932-S Washington quarters to your collection, here are some important tips:

1. Authentication

Because of their value, these quarters are often counterfeited. To avoid buying fake coins, make sure to purchase only those that are certified by trusted grading services like PCGS or NGC.

2. Condition Matters

The value of these coins can vary greatly based on their condition. Familiarize yourself with coin grading systems or consult with a professional numismatist to ensure you’re getting an accurate assessment.

3. Research the Market

Stay updated on current market trends and auction results. This knowledge can help you make smart purchasing decisions and avoid overpaying for a coin.

Conclusion

The 1932-D and 1932-S Washington quarters are among the most coveted coins in U.S. history, known for their low mintages, historical importance, and strong collector demand. Whether you’re an experienced coin collector or just starting, these quarters are valuable additions to any collection. They not only offer a tangible link to America’s past but also represent a rare piece of numismatic history. Investing in these coins can be a rewarding experience, both financially and as a collector’s passion.

Guilderland Historical Society

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