For coin collectors, the 1932 Washington Quarters are more than just old coins—they are a key part of U.S. numismatic history.
These were the first quarters to feature George Washington’s image, making them an important milestone in American currency.
But what makes the 1932 D and 1932 S Washington Quarters even more special is their rarity and high value.
With very limited production numbers, these two mintmarked coins—struck in Denver (D) and San Francisco (S)—are some of the scarcest quarters ever made.
Collectors are willing to pay thousands, and in some cases, tens of thousands of dollars for well-preserved examples. Let’s explore what makes these coins so rare and how much they are worth today.
The History Behind the 1932 Washington Quarter
Before 1932, the U.S. quarter featured different designs, including the Barber Quarter and the Standing Liberty Quarter. However, to honor George Washington’s 200th birthday, the U.S. Mint decided to create a new design.
John Flanagan, a well-known sculptor, designed the coin with Washington’s profile on the front and an eagle on the back.
This was a historic change, as it marked the first time Washington appeared on a U.S. quarter—a design that continues to this day. But due to the Great Depression, fewer quarters were needed for circulation in 1932, leading to low production numbers.
As a result, the 1932 D and 1932 S quarters became extremely rare, making them some of the most valuable Washington Quarters in existence.
Why Are the 1932 D and 1932 S Washington Quarters So Rare?
1. Low Mintage Numbers
The biggest reason these quarters are rare is because very few were made compared to other years.
- 1932 D Washington Quarter – Only 436,800 were minted, making it one of the lowest-mintage Washington Quarters ever.
- 1932 S Washington Quarter – Even rarer, with just 408,000 minted at the San Francisco Mint.
Most other Washington Quarters were produced in the millions, making these two stand out as some of the hardest to find.
2. High Demand from Collectors
Since these were the first Washington Quarters ever made, they are highly desirable for collectors. Finding one in good condition is even harder because many of these quarters were used in circulation, leading to wear and damage.
3. Condition Matters
The value of these coins depends heavily on their condition. Coins that have been well-preserved with sharp details are much more valuable than worn-out ones. Uncirculated examples can fetch thousands of dollars at auctions.
How to Identify a 1932 D or 1932 S Washington Quarter
If you think you might have a 1932 Washington Quarter, here’s how to check if it’s the rare and valuable D or S version:
Look for the Mintmark – Flip the coin over to the reverse side. Just below the eagle’s tail, you will find a small letter:
- D = Minted in Denver
- S = Minted in San Francisco
- No Mintmark = Minted in Philadelphia (not as rare)
Check the Condition – The less wear and tear, the more valuable the coin is. The details on Washington’s hair and the eagle’s feathers should be sharp.
Strike Quality – Some 1932 quarters were not well-struck, meaning the details aren’t crisp. A coin with a strong strike is more desirable.
The Value of 1932 D and 1932 S Washington Quarters Today
Because of their rarity, these quarters can sell for hundreds or even thousands of dollars. Here’s how their value breaks down:
1932 D Washington Quarter Value
- Lower-grade coins (heavily worn) – $100 to $200
- Mid-grade coins (some wear but good details) – $1,000+
- High-grade coins (MS-65 and above, near perfect condition) – $10,000+
1932 S Washington Quarter Value
- Lower-grade coins – $200 to $300
- Mid-grade coins – $1,500+
- High-grade coins (MS-65 and above) – $10,000 to $20,000+
At auctions, exceptionally well-preserved 1932 D and 1932 S quarters have sold for record-breaking amounts, proving their enduring value among collectors.
Why These Quarters Are a Must-Have for Collectors
The 1932 D and 1932 S Washington Quarters are not just rare coins—they represent an important moment in U.S. history.
They were the first quarters to feature George Washington, and their low mintage makes them highly sought-after by serious collectors.
If you happen to find one in good condition, it could be worth a significant amount of money. These coins are a great investment and a prized addition to any collection.
Whether you’re a seasoned collector or just starting out, these quarters are among the most valuable and historic coins in American currency. Keep an eye on your old coin collections or inherited change jars—you might have a hidden treasure!
