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1932-S Washington quarter value

The 1932-S Washington quarter has the lowest mintage of any Washington quarter ever issued for circulation — just 408,000. A circulated example guides at $50–$120 in Good to Fine. A common 1932 Philadelphia quarter is worth melt ($9.76). The difference is the 'S' on the reverse.

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
$50–$120
Circulated Good–Fine, raw. CoinStudy (updated Oct 19, 2026): G $48, F $68. CoinWeek: certified low grades $50–$80, VF–XF $100–$200. The range spans both.
Dealer might pay
~$30–$85
Estimate inferred at 60–70% of the guide — not a firm bid. A dealer must authenticate it first.

The 1932-S is the scarcest Washington quarter by mintage (408,000 vs 436,800 for the 1932-D), but the 1932-D is rarer in Mint State — collectors saved the 1932-S in larger numbers, so low-grade 1932-S coins can be surprisingly elusive while Mint State examples are more available.

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'. An 'S' there means San Francisco. No mint mark means Philadelphia (melt value). The 'S' on a genuine 1932-S is sharp; an added 'S' looks pasted on under a loupe.

The fake problem

Added 'S' mint marks on Philadelphia 1932 quarters are common. A genuine 1932-S in Good starts around $50; a Philadelphia 1932 is worth $9.76 in melt. 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 — Mint State 1932-S coins run $300–$3,000+.
  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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