In a landmark event for numismatics, a 1932 Washington quarter recently sold for an astounding $2.1 million at auction, setting a new record for this coin series. This sale underscores the enduring allure of rare coins and the lengths collectors will go to acquire such treasures.
The Genesis of the Washington Quarter
The Washington quarter was introduced in 1932 to commemorate the 200th anniversary of George Washington’s birth. Designed by sculptor John Flanagan, the coin features a profile of Washington on the obverse and an eagle with outstretched wings on the reverse. Initially intended as a one-year commemorative issue, its popularity led to its continued production, making it a staple in American currency.
Rarity and Significance of the 1932-D Washington Quarter
Among the inaugural 1932 quarters, those minted in Denver (denoted by a “D” mint mark) are particularly scarce. With a mintage of only 436,800, the 1932-D quarter is one of the lowest mintage coins in the Washington quarter series. Its rarity is further amplified when found in mint state condition, as many were circulated extensively during the Great Depression.
Record-Breaking Auction Sale
The recent auction of a 1932-D Washington quarter in pristine condition fetched a remarkable $2.1 million, setting a new benchmark for this coin type. This sale highlights the coin’s rarity and the high demand among collectors for top-grade specimens.
Factors Contributing to the Coin’s Value
Several elements contributed to the exceptional value of this 1932-D Washington quarter:
- Low Mintage: With only 436,800 coins produced, the 1932-D quarter is among the rarest in the series.
- Historical Context: Minted during the Great Depression, many of these coins were heavily circulated, making uncirculated examples exceedingly rare.
- Condition: The auctioned coin was in mint state condition, significantly enhancing its value.
- Collector Demand: The combination of rarity, historical significance, and condition makes this coin highly sought after by collectors.
Comparison with Other Notable Coin Sales
The $2.1 million sale of the 1932-D Washington quarter stands out in the numismatic world. For context, a 1932-D quarter in excellent condition sold for $89,000 in 2001, highlighting the appreciation in value over the years. Additionally, a rare 1900 Indian Cent penny, minted in Philadelphia and erroneously struck on a gold Quarter Eagle planchet, recently sold at auction for $141,000.
Notable Coin Auction Sales
| Coin Type | Year | Mint Mark | Condition | Auction Sale Price |
|---|---|---|---|---|
| Washington Quarter | 1932 | D | Mint State | $2.1 million |
| Washington Quarter | 1932 | D | MS66 | $89,000 |
| Indian Cent Penny (Error) | 1900 | None | MS65 | $141,000 |
The Role of Coin Grading in Valuation
Coin grading plays a pivotal role in determining a coin’s value. The Sheldon Scale, ranging from 1 to 70, assesses a coin’s condition, with higher numbers indicating better preservation. Coins graded between 60 and 70 are considered mint state and are highly coveted by collectors. The 1932-D quarter’s mint state grade was a significant factor in its record-breaking sale.
Implications for Collectors and Investors
This historic sale underscores the importance of rarity, condition, and historical significance in coin valuation. Collectors and investors are reminded of the potential value appreciation of rare coins, especially those in superior condition. It also highlights the benefits of professional grading and certification in establishing a coin’s authenticity and condition.
Conclusion
The $2.1 million sale of the 1932-D Washington quarter marks a significant milestone in numismatic history. It reflects the enduring appeal of rare coins and the lengths to which collectors will go to acquire such pieces. This event serves as a testament to the value of preserving historical artifacts and the vibrant market that supports them.
FAQs
Why is the 1932-D Washington quarter so valuable?
The 1932-D Washington quarter is valuable due to its low mintage of 436,800, historical significance, and rarity in mint state condition.
What does the “D” mint mark signify?
The “D” mint mark indicates that the coin was minted in Denver.
How does coin grading affect value?
Coin grading assesses a coin’s condition on a scale from 1 to 70. Higher grades, indicating better preservation, significantly increase a coin’s value.
Are all 1932 quarters valuable?
While all 1932 quarters have collector interest, those minted in Denver (“D” mint mark) and San Francisco (“S” mint mark) are particularly valuable due to their lower mintages.
How can I determine the value of my coin?
To determine a coin’s value, consider its rarity, condition, historical significance, and current market demand. Consulting with a professional numismatist or getting the coin graded by a reputable service can provide an accurate valuation.
