The 1932 Washington Quarter holds a distinguished place in numismatic history, captivating collectors and investors alike. Its rarity, historical significance, and unique characteristics have propelled its value to extraordinary heights, with some specimens fetching over $1 million at auction.
Historical Context
Introduced in 1932 to commemorate the 200th anniversary of George Washington’s birth, the Washington Quarter was initially intended as a one-year commemorative coin. However, its popularity led to its continued production, establishing it as a staple in U.S. coinage. The coin’s obverse features a portrait of Washington, designed by sculptor John Flanagan, while the reverse showcases a heraldic eagle.
Mintage and Rarity
In 1932, the U.S. Mint produced Washington Quarters at three facilities:
| Mint Location | Mint Mark | Mintage Quantity |
|---|---|---|
| Philadelphia | None | 5,404,000 |
| Denver | D | 436,800 |
| San Francisco | S | 408,000 |
The Denver (D) and San Francisco (S) mintages are particularly scarce, making them highly sought after by collectors. The 1932-D, with a mintage of 436,800, is especially rare in uncirculated conditions.
Factors Influencing Value
Several factors contribute to the exceptional value of the 1932 Washington Quarter:
- Low Mintage: The limited production numbers, especially from the Denver and San Francisco mints, enhance the coin’s rarity.
- Historical Significance: As the inaugural year of the Washington Quarter series, the 1932 coin holds substantial historical importance.
- Condition: Coins in mint state (MS) grades, particularly MS65 and above, are exceedingly rare and command premium prices.
- Market Demand: The combination of rarity and historical significance drives strong demand among collectors and investors.
Record-Breaking Sales
The 1932-D Washington Quarter has achieved remarkable auction results:
- In April 2008, a 1932-D quarter graded MS66 sold for $143,750 at Bowers & Merena.
- In 2001, another MS66 example fetched $89,125 at auction.
These figures underscore the coin’s escalating value over time.
Identifying Authentic 1932 Washington Quarters
Due to their high value, 1932 Washington Quarters, particularly the D and S mint marks, are susceptible to counterfeiting. Collectors should consider the following when verifying authenticity:
- Mint Mark Location: The mint mark is located on the reverse side, beneath the eagle’s tail feathers.
- Professional Grading: Obtaining certification from reputable grading services like PCGS or NGC can provide assurance of authenticity and condition.
- Expert Consultation: Consulting with experienced numismatists or coin dealers can aid in identifying genuine pieces.
Conclusion
The 1932 Washington Quarter stands as a testament to American history and numismatic artistry. Its rarity and significance have solidified its status as a coveted treasure among collectors, with top-grade specimens achieving values exceeding $1 million. For those fortunate enough to possess this coin, it represents not only a piece of history but also a valuable asset in the world of coin collecting.
FAQs
Why is the 1932 Washington Quarter so valuable?
The coin’s value stems from its low mintage, historical significance as the first year of the Washington Quarter series, and high demand among collectors.
How can I determine if my 1932 quarter is from the Denver or San Francisco mint?
Check the reverse side of the coin, beneath the eagle’s tail feathers, for a ‘D’ (Denver) or ‘S’ (San Francisco) mint mark. Absence of a mint mark indicates it was minted in Philadelphia.
What is the composition of the 1932 Washington Quarter?
The coin is composed of 90% silver and 10% copper, weighing 6.25 grams.
Are all 1932 Washington Quarters valuable?
While all 1932 quarters have some value, those from the Denver and San Francisco mints, especially in uncirculated condition, are significantly more valuable.
How can I authenticate my 1932 Washington Quarter?
It’s advisable to have the coin evaluated by a professional grading service or a reputable coin dealer to ensure its authenticity and determine its condition.
