The 1932-S Washington Quarter (Buy on eBay) 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 Washington 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 Washington Quarter and the 1932-S Washington Quarter 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 $2,000 to $4,000 depending on the eye appeal and quality within the grade. PCGS and NGC have graded around 300 pieces at the gem level.
The finest known examples are graded MS66, with around 15 coins receiving this grade. The auction record is held by a piece graded PCGS MS66 with CAC verification which sold for $45,500 in 2020.
1932-S Washington Quarter Specifications:
- Designer: John Flanagan
- Composition: 90% silver, 10% copper
- Diameter: 24.3 mm
- Weight: 6.25 grams
- Edge: reeded
- Mint Mark: “S” (San Francisco)
- Mintage: 408,000
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