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1932-D Washington quarter value

The 1932-D Washington quarter is the key date of the Washington series: only about 436,800 were minted at Denver in the first year, and a circulated example guides at $55–$140 in Good to Fine. A common 1932 Philadelphia quarter is worth melt ($9.76). The difference is the 'D' on the reverse — and that 'D' is frequently faked.

The three numbers that matter

Prices as of Oct 25, 2026 · Silver spot $54.00/ozt (Kitco, Oct 25, 2026) · Circulated, common date, problem-free, raw (uncertified) unless stated

Melt floor
$9.76
0.1808 ozt silver × $54.00/ozt spot (Kitco, Oct 25, 2026). The floor under every 1932 quarter.
Asking & guide range
$55–$140
Circulated Good–Fine, raw. CoinStudy (updated Oct 19, 2026): G $54, F $71. USA Coin Book (Feb 2026): G4 $119, F12 $139. The range spans both guides.
Dealer might pay
~$35–$100
Estimate inferred at 60–70% of the guide — not a firm bid. A dealer must authenticate it first.

The 1932-D is 'by far the rarest of the Washington quarters' (PCGS) — not because its mintage is the lowest (the 1932-S is lower at 408,000), but because almost none survived in high grade: most went into Depression-era circulation. Uncirculated examples run $800–$12,000+.

How to tell it

Read the date: 1932. Then flip the coin: the mint mark is on the reverse, below the wreath, just above the 'R' in 'QUARTER'. A 'D' there means Denver. The genuine 1932-D has a distinctive 'Small D' punch that looks slightly blob-like or filled — use a loupe. No mint mark means Philadelphia (melt value).

The fake problem

Added 'D' mint marks on Philadelphia 1932 quarters are the most common fake in this series. A genuine 1932-D in Good starts around $55; a Philadelphia 1932 is worth $9.76 in melt. That gap is why fakes exist — and why certification (PCGS/NGC) is worth the fee before you sell.

What to do with it

  1. Do not clean it.
  2. Get it certified if it looks uncirculated or better — the grade multiplies the price by 10× or more.
  3. Get two offers.
Do not clean your coins. Cleaning is the fastest way to destroy collector value — a polished coin can lose half its worth instantly, and no cleaning can be undone. Handle coins by the edges, keep them dry, and leave toning and dullness exactly as they are.
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