1932-S Washington Quarter

The 1932-S Washington Quarter has the lowest mintage of the entire series, with just 408,000 coins struck for circulation. This is only one of two issues which have a mintage below the one million mark. The other issue, struck in the same year at Denver, is known for being more conditionally scarce.

In the lowest circulated grades, the 1932-S quarter can be acquired for around $100. The supply of coins at lower grade levels is somewhat plentiful given the low mintage. There are stories about how during the great silver melts, the 1932-D and 1932-S coins would be removed from complete sets of circulated Washington Quarters before the remaining coins were melted. This preserved a significant supply of the key date issues for future generations.

In uncirculated grades, the 1932-S Washington Quarter can be more difficult to acquire, particularly at the gem level and higher. In the lowest uncirculated grades, pieces can be acquired for around $500. In MS65, prices range from around $3,000 to $5,000 depending on the eye appeal and quality within the grade. PCGS and NGC have graded around 170 pieces at the gem level.

The finest known examples are graded MS66, with around ten coins receiving this grade. Prices realized for this grade range from $11,000 to $20,000, once again with eye appeal and quality playing a determining factor.