$143,750
Top 1932-D auction record (Heritage, 2008)
408,000
1932-S mintage — lowest in the series
90%
Silver composition in every 1932 quarter
1932
First year of the Washington quarter series

Free 1932 Quarter Value Calculator

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Is Your Quarter the Valuable 1932-D Key Date?

The 1932-D is the conditional rarity of the entire Washington quarter series. Check all four features below to see if yours qualifies.

1932 Washington Quarter comparison: Philadelphia (no mint mark) versus Denver 1932-D key date, showing mint mark location

🔘 Common — 1932-P (Philadelphia)

No mint mark on the reverse. Mintage: 5,404,000. Worth $13–$40 in most circulated grades. Valuable only in true Gem Mint State (MS-65+).

— vs —

🔴 Key Date — 1932-D (Denver)

Bold "D" below the reverse wreath. Mintage: 436,800. Worth $75+ even heavily worn. The rarest Washington quarter in Mint State — only 2 PCGS-certified at MS-66.

Four-Point 1932-D Checklist

1932 Washington Quarter Value Chart at a Glance

Values below reflect typical market ranges based on PCGS Price Guide and recent Heritage auction results. For an in-depth illustrated 1932 quarter identification walkthrough and grading reference, check the linked guide before buying or selling. All values are for problem-free, unaltered examples.

Variety Worn (G–F) Circulated (VF–AU) Uncirculated (MS-60–63) Gem (MS-65+)
1932-P (Philadelphia) $13–$17 $17–$31 $33–$100 $278–$40,250+
1932-D ★ Key Date $75–$190 $230–$400 $995–$3,500 $8,000–$143,750+
1932-S ✦ Low Mintage $75–$190 $125–$200 $392–$950 $2,470–$52,800+
1932 DDO FS-101 $16–$60 $60–$155 $185–$800 $1,000–$3,055+
1932-D/S RPM FS-501 Premium over base Moderate premium Significant premium Major premium

★ Row highlighted in gold = signature key date variety. ✦ Row highlighted in red = lowest-mintage variety. All values based on PCGS Price Guide and Heritage auction records. RPM premiums depend heavily on die state and grade — consult a specialist.

📱 CoinKnow lets you scan your 1932 quarter from photos and cross-check its condition against known graded examples in seconds — a coin identifier and value app.

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The Valuable 1932 Washington Quarter Errors (Complete Guide)

The 1932 Washington quarter, as the inaugural year of the series, produced a small but significant set of recognized error varieties and die-related anomalies. Each variety below was created by documented mint-production processes — not post-mint damage. Knowing these varieties can turn an ordinary $13 coin into one worth hundreds or thousands. Cards are arranged in descending order of typical market value.

1932 Washington Quarter DDO FS-101 error showing doubling on IN GOD WE TRUST and LIBERTY lettering

1932 DDO FS-101 — Doubled Die Obverse

MOST FAMOUS
$16 – $3,055+

The 1932 Doubled Die Obverse FS-101 is the single most important recognized error variety in the entire 1932 Washington quarter series. It occurred during die preparation when the obverse hub impressed the working die at a slightly offset angle in a second hubbing rotation, permanently embedding doubled letter images into the die steel.

To identify FS-101, examine the obverse motto IN GOD WE TRUST and the word LIBERTY under a 10× loupe. You should see a distinct shadow or secondary image running parallel to the primary letters — the doubling is particularly crisp on the letter T in TRUST and on the E and R in LIBERTY. The doubling is bold enough that experienced collectors can spot it with the naked eye in good light.

Collectors pay a substantial premium for this variety because it represents a documented, catalogued die error on a first-year-of-issue coin with inherently low survivorship. A PCGS-graded MS-66 specimen sold for $3,055 at Heritage Auctions, and even worn circulated examples trade for multiples above base 1932-P prices.

How to spot it
Under a 10× loupe, look for a parallel secondary image on the T in TRUST and the letters in LIBERTY on the obverse. Doubling is visible at 5–10× magnification and can be detected without tools under raking light.
Mint mark
Philadelphia only (no mint mark); all three mints produced 1932 quarters but FS-101 is a Philadelphia die variety
Notable
Designated FS-101 by CONECA and listed in the Cherrypickers' Guide. A PCGS MS-66 example realized $3,055 at Heritage Auctions (December 2014). Greysheet CPG value range: $90–$3,000.
1932-D Washington Quarter RPM FS-501 showing repunched mint mark with secondary D impression below the wreath

1932-D RPM FS-501 — Repunched Mint Mark

RAREST
Premium over base 1932-D

The 1932-D Repunched Mint Mark FS-501 is the most prized die variety within the already-scarce Denver issue. It occurred during the hand-punching era when a mint worker applied the D mint mark punch to the working die, discovered the placement was imperfect, and re-struck the die with the punch at a slightly different angle or position — leaving two overlapping D impressions in the die steel.

Under magnification, look below the wreath on the reverse for a primary bold D alongside a secondary ghost impression of the D at a slightly offset angle. On the FS-501 specifically, the secondary impression appears to the northwest of the primary — a D-over-D relationship confirmed in the Cherrypickers' Guide. Strike quality on original 1932-D RPM specimens is typically sharper than average for this notoriously weakly struck issue.

Because the 1932-D already commands $75–$3,500 in raw form depending on grade, confirmed RPM FS-501 examples carry a meaningful additional premium. Collectors specializing in Washington quarter die varieties actively seek this variety, and it trades at significant premiums above the already-high 1932-D base price at auction. Professional authentication by PCGS or NGC is strongly recommended before purchase or sale.

How to spot it
Under 10–15× magnification, examine the D mint mark on the reverse below the wreath. Look for a secondary D impression to the northwest of the primary D — two overlapping letter images at slightly different angles.
Mint mark
Denver (D) issues only; this RPM variety is specific to the 1932-D and does not appear on Philadelphia or San Francisco issues
Notable
Designated FS-501 in the Cherrypickers' Guide. Because base 1932-D values are already exceptional, confirmed RPM specimens in AU or better condition attract intense competition at major auction venues including Heritage and Stack's Bowers.
1932-S Washington Quarter RPM FS-501 showing S-over-inverted-S repunched mint mark variety

1932-S RPM FS-501 — S-over-Inverted S

BEST KEPT SECRET
Premium over base 1932-S

The 1932-S RPM FS-501 variety features one of the most visually distinctive mint mark errors in the Washington quarter series: the S mint mark was first punched into the working die in an inverted position, then corrected with a second punch at the proper orientation. This left a secondary S impression rotated approximately 180° relative to the primary — creating what specialists call an S-over-inverted-S relationship.

The telltale feature is visible below the wreath on the reverse. Under a 10× loupe, the S mint mark will appear slightly thickened or doubled, with the curves of the secondary impression running counter to the primary. In higher-grade examples where the design details are sharper, both the S and its inverted ghost image may be distinguishable as distinct impressions, giving the mint mark a subtle figure-eight quality.

This variety trades at a premium above the already-significant base value of the 1932-S. Because the San Francisco issue is more available in Mint State than the Denver issue, confirmed RPM FS-501 specimens in MS-63 and above attract particularly strong collector interest. Die alignment is a diagnostic point — always compare to catalog photographs before attributing this variety.

How to spot it
Examine the S mint mark below the reverse wreath under 10–15× magnification. The secondary inverted S impression creates a counter-curve appearance — the S looks doubled with curves running in opposing directions, forming a subtle figure-eight.
Mint mark
San Francisco (S) issues only; this specific S-over-inverted-S variety is exclusive to the 1932-S and unrelated to the Denver RPM
Notable
Designated FS-501 in the Cherrypickers' Guide alongside the 1932-D RPM. The inverted-S feature makes it one of the most visually dramatic RPM varieties in the silver Washington quarter series from any year, enhancing collector appeal beyond its rarity alone.
1932 Washington Quarter broad strike error showing enlarged diameter and spread design from missing collar during striking

1932 Broad Strike Error

MOST DRAMATIC
$100 – $200

A broad strike error on a 1932 Washington quarter occurs when the retaining collar — the cylindrical steel ring that surrounds the planchet during striking and gives the coin its precise diameter and reeded edge — fails to seat properly or is absent entirely. Without the collar's constraint, the metal flows outward under die pressure beyond the standard 24.3 mm diameter.

The result is a coin that is visibly wider than a normal 1932 quarter, with the design elements spread toward the edge of the expanded planchet. The reeded edge will be incomplete, partial, or entirely absent depending on the severity of the error. The coin is also typically slightly thinner than standard (6.25g nominal weight) as the metal redistributes over a larger surface area. Washington's portrait and the eagle reverse will appear stretched and missing peripheral detail.

Broad strikes are collected as dramatic physical evidence of mint error and attract collectors focused on production anomalies rather than die varieties. Premiums increase with the degree of expansion: a coin barely wider than standard commands modest value, while a severely expanded example with completely missing reeding can trade significantly above the $100–$200 range. Authentication verifies that diameter expansion is genuine, not post-mint alteration.

How to spot it
Measure the coin's diameter with calipers — a normal 1932 quarter is exactly 24.3 mm. Any confirmed measurement above 24.5 mm on an otherwise genuine coin suggests a broad strike; look also for missing or partial reeded edge.
Mint mark
Can occur at any mint (P, D, or S); broad strike is a mechanical production error not tied to a specific mint facility
Notable
Most 1932 broad strikes sell in the $100–$200 range based on reported auction results from error coin specialists. PCGS and NGC both encapsulate genuine broad strikes with a designated "Broadstruck" notation on the slab label, confirming authenticity for resale.
1932 Washington Quarter off-center strike error showing shifted design with blank planchet crescent and date still visible

1932 Off-Center Strike Error

MOST COLLECTIBLE MINOR ERROR
$15 – $100

An off-center strike occurs when the planchet enters the coinage press but fails to center itself between the two dies before the hammering blow falls. The result is a coin where Washington's portrait and the surrounding design are displaced from the center of the planchet, with a visible crescent of blank, unstruck metal on the opposite side.

The degree of displacement is measured as a percentage of the coin's diameter and is the primary driver of value for this error type. Most off-center strikes on 1932 quarters are minor — less than 10% off-center — and add only a small premium ($15–$25) above base value. The most desirable examples are those displaced 25–50%, especially when the date 1932 and any mint mark remain fully visible within the struck area. Without a legible date and mint mark, collector interest and price drop substantially.

A 50% off-center 1932 quarter with both the date and D or S mint mark visible represents a highly collectible convergence of a dramatic production error on an already-rare coin. Such examples can trade at the upper end of the $25–$100 range or beyond. As with all mint errors, authentication distinguishes genuine off-center strikes from post-mint damage or deliberate alteration of the planchet prior to striking.

How to spot it
Look for a crescent-shaped area of plain, unstruck metal on one side of the coin while the opposite side shows compressed design. Check that the date 1932 is still clearly legible — this is the critical value-determining factor for off-center strikes.
Mint mark
Can occur at any mint; an off-center 1932-D or 1932-S with legible mint mark is significantly more valuable than an off-center 1932-P with no mark
Notable
Error coin pricing guides list 1932 quarter off-center strikes at approximately $15 for minor displacements under 10%, rising to $25–$100 for 25–50% off-center examples with visible date and mint mark. The combined error premium is multiplied on key date (D or S) specimens.

Found One of These Errors on Your Coin?

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1932 Washington Quarter Mintage & Survival Data

Group of 1932 Washington Quarters showing all three mint marks: Philadelphia (no mark), Denver (D), and San Francisco (S)
Mint Mint Mark Mintage Survival Estimate Key Characteristic
Philadelphia None 5,404,000 Moderate (type coin) Most common; still scarce in Gem MS-65+
Denver D 436,800 Very low in MS; most circulated Conditional rarity; only 2 PCGS MS-66
San Francisco S 408,000 Low overall; modest in MS Lowest mintage; typically soft strike
Total 1932 P/D/S 6,248,800 No proof coinage struck in 1932

Composition Specifications

Metal: 90% Silver, 10% Copper  |  Weight: 6.25 grams  |  Diameter: 24.3 mm  |  Edge: Reeded  |  Designer: John Flanagan  |  No proof strikings were produced for 1932

The 1932 Washington quarter was originally conceived as a one-year commemorative issue for the 200th anniversary of George Washington's birth. Production was suspended in 1933 due to the Great Depression, then resumed as a regular series in 1934. This gap makes all three 1932 issues among the lowest-mintage silver quarters of the 20th century.

How to Grade Your 1932 Washington Quarter

1932 Washington Quarter grading strip showing four condition tiers from heavily worn Good to Gem Mint State
Worn
Good–Fine (G–F)

Washington's hair detail flat or barely visible. Eagle's breast feathers merged. Date and lettering readable. All major devices outlined.

P: $13–$17 · D: $75–$190 · S: $75–$190
Circulated
VF–AU (20–58)

Hair curls above Washington's ear still visible. Eagle feathers separated on reverse. Slight friction on high points. No original luster (VF) to light friction only (AU).

P: $17–$31 · D: $230–$400 · S: $125–$200
Uncirculated
MS-60 to MS-63

Full original mint luster present. No wear anywhere. Bag marks and contact marks visible to naked eye. Fields may show scattered abrasions.

P: $33–$100 · D: $995–$3,500 · S: $392–$950
Gem
MS-65 and above

Full cartwheel luster. Sharp strike on hair curls and eagle. Minimal marks, none on Washington's face or open fields. Exceptional eye appeal for the date.

P: $278+ · D: $8,000+ · S: $2,470+
🔍 Pro Tip — Weak Strike vs. Wear: Many 1932 quarters, especially San Francisco examples, were struck from worn dies producing coins with softness on Washington's hair curls and the eagle's central breast feathers. This is a mint-production characteristic, NOT circulation wear. Always check for original luster in the coin's protected fields (recessed areas) before concluding a coin is circulated — a weakly struck but uncirculated 1932-S will still show full cartwheel luster in the fields even when the high points appear flat.

🔎 CoinKnow helps you match your coin's surface details against reference images of graded examples — a coin identifier and value app that's useful for condition comparison before submitting to a grading service.

Where to Sell Your Valuable 1932 Washington Quarter

The right venue depends on your coin's value tier. A worn 1932-P might be fine on eBay; a 1932-D in Mint State belongs at a major auction house.

🏛️ Heritage Auctions

The top venue for 1932-D and 1932-S specimens in Gem or near-Gem condition. Heritage's Washington quarter buyer pool is deep and competitive, and their catalog descriptions help educate bidders on rarity. Expect 15–20% buyer's premium. Best for coins worth $500+. Submit well in advance of a major auction session.

🛒 eBay

Strong market for circulated 1932-P, 1932-D, and 1932-S quarters in the $13–$400 range. Browse recently sold prices for 1932 Washington quarters on eBay to calibrate your ask before listing. Use auction-style listings for raw key dates and fixed-price for common 1932-P examples. Photos of both sides under good light are essential.

🏪 Local Coin Shop

Dealers offer immediate cash but typically pay 50–70% of retail on circulated key dates. Still, a local shop is excellent for quick appraisals and honest grading feedback. If a dealer won't examine your 1932-D for free, find another dealer. Many shops also offer consignment to get closer to full market value for premium examples.

💬 Reddit r/Coins

The r/Coins and r/CoinSales communities are excellent for getting second opinions before selling and for selling mid-range coins (roughly $20–$200) directly to other collectors. Post clear photos of both sides with a ruler for scale. Members can help identify varieties and suggest appropriate price ranges for 1932 quarters in any condition.

💡 Get It Graded First (if it's worth it)
Any 1932-D in About Uncirculated (AU) or better condition, or any 1932-S in Mint State, should be submitted to PCGS or NGC before selling. Grading fees of $30–$65 per coin are easily recovered when a certified 1932-D in AU-58 sells for $300+ versus $150–$200 for an unslabbed raw example. For 1932-P coins, grading is only worthwhile if the coin appears to be a strong MS-64 or better.

Frequently Asked Questions — 1932 Quarter Value

How much is a 1932 quarter worth with no mint mark?
A 1932 Philadelphia quarter (no mint mark) is worth roughly $13–$17 in worn circulated condition. In lower Mint State grades (MS-60 to MS-63), expect $33–$100. Gem MS-65 examples trade for $278–$340. The finest known MS-67 specimens have sold for over $40,000 at Heritage Auctions, making them extremely rare collector prizes despite the relatively large Philadelphia mintage of 5,404,000.
What makes the 1932-D quarter so valuable?
The 1932-D quarter had a tiny mintage of only 436,800 pieces, but the real reason it's the series' conditional key is survival rate: nearly the entire issue circulated during the Great Depression, leaving vanishingly few Mint State examples. In MS-66 condition, PCGS has certified only two specimens. That scarcity in high grade pushed the auction record to $143,750 at Heritage Auctions in 2008, making it one of the most coveted silver quarters in American numismatics.
How can I tell a 1932-D from a 1932-S quarter?
Flip the coin to the reverse side and look just below the wreath at the bottom of the eagle's body. A bold 'D' indicates Denver; a bold 'S' indicates San Francisco. A coin with no letter was struck in Philadelphia. The mint mark is small but clearly visible under moderate magnification. Both the D and S are worth significantly more than the Philadelphia issue, with the D commanding a premium in Mint State grades.
Is the 1932-S quarter rarer than the 1932-D?
By mintage figures, yes — the 1932-S (408,000) edges out the 1932-D (436,800) as the lowest-production business strike in the Washington quarter series. However, the 1932-D is the superior conditional rarity in Mint State grades. Contemporary collectors preserved more 1932-S coins when they were new, so more uncirculated examples survive today. In grades above MS-64, the 1932-D is significantly rarer and commands higher prices than the 1932-S.
What is the 1932 DDO FS-101 error variety?
The 1932 Doubled Die Obverse (DDO) FS-101 is the most significant recognized error variety for 1932 quarters. It occurred when the obverse hub impressed the working die at a slightly offset angle in a second hubbing rotation, creating visible doubling on the motto IN GOD WE TRUST and on LIBERTY. Bold doubling is visible without magnification. A PCGS MS-66 example sold for $3,055, and circulated specimens command $16–$155, well above base 1932-P values.
What is the 1932 Washington quarter made of?
All 1932 Washington quarters are composed of 90% silver and 10% copper. The coin weighs 6.25 grams and measures 24.3 mm in diameter with a reeded edge. John Flanagan designed both the obverse portrait of George Washington and the heraldic eagle reverse. Based on silver prices in early 2026, the melt (intrinsic silver) value is approximately $8–$9 per coin, though all collectible examples trade well above this floor.
Should I clean my 1932 quarter to make it look better?
Never clean a 1932 quarter. Cleaning removes original mint luster, introduces hairline scratches, and immediately reduces numismatic value — often by 50% or more. Grading services like PCGS and NGC will label cleaned coins as 'Details' grades, which trade at steep discounts. Even a heavily worn but original 1932-D or 1932-S retains full collector value. Originality is paramount. If your coin looks dull or spotty, accept it and let a professional assess it as-is.
What is the highest grade ever assigned to a 1932 Washington quarter?
For the 1932-P (Philadelphia), PCGS has graded examples up to MS-67, with the auction record of $40,250 set at Heritage Auctions in April 2012. The 1932-D peaks at MS-66 in the PCGS census, with only two coins at that level and an auction record of $143,750. The 1932-S has also been certified MS-66 by PCGS, with a top auction result of $52,800 at Heritage Auctions in March 2025.
Where is the mint mark on a 1932 Washington quarter?
On 1932 Washington quarters, the mint mark is located on the reverse (eagle side) at the bottom of the design, directly below the wreath. Look just beneath the bundle of arrows and olive branch at the bottom center of the coin. A 'D' means Denver Mint; an 'S' means San Francisco Mint. Philadelphia-minted coins carry no mint mark. This placement remained standard on Washington quarters through 1964 before moving to the obverse in 1968.
How do I know if my 1932 quarter is uncirculated?
An uncirculated 1932 Washington quarter retains complete original mint luster — a cartwheel-like sheen that rotates as you tilt the coin under a light. Look for no flatness or dullness on Washington's cheek, the hair curls above his ear, and the eagle's breast feathers on the reverse. Note that 1932 quarters (especially the S-mint) often show weak strikes that can mimic wear; verify luster in the protected field areas to confirm Mint State status.