1932 Quarter Value: How Much Is It Worth Today?
The 1932 quarter is valuable for a few reasons. It’s the first of its series, making it a standout for any collection, but it’s also nearly a century old with a smaller population than other coins from this series.
While the 1932 quarter is at least worth its silver melt value, higher graded coins sell for $45 to $666 or more. These coins are almost exclusively seen at auctions where they only sell for hundreds or thousands.
The range of values for 1932 quarters is wide, but knowing how smaller details affect value makes it easier to navigate. Keep reading to learn about the different types of 1932 quarters, how to determine coin grade, and what rare errors to look out for.
1932 Quarter Value Chart |
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| Mint Mark | Good | Fine | Extremely Fine | Uncirculated |
| 1932 No Mint Mark Quarter Value | $4.51 | $4.51 | $5.15 | $45.00 |
| 1932 D Quarter Value | $47.00 | $74.00 | $127.00 | $666.00 |
| 1932 S Quarter Value | $47.00 | $68.00 | $92.00 | $247.00 |
1932 No Mint Mark Quarter Value
The vast majority of 1932 quarters (5,404,000) bear no mint mark. Despite their plentiful production, the coins are still worth their silver melt value in any condition.
This is normal for “Good” or “Fine” silver coins of this age, but coins that are “Extremely Fine” command a small premium on the silver melt price and sell for about $5.15. When they’re found in “Uncirculated” condition, the coins regularly sell for $45 at market.
A PCGS MS67 1932 no mint mark quarter was sold for $40,250 in 2012, making it the record holder for this particular mint and year. This coin is tied for finest at PCGS, and it features a nice patina and luster to both sides.
Even at such a high grade, this record holder still has a small mark on Washington’s neck that you’re unlikely to notice with a naked eye.
1932 Quarter Features
The 1932 quarter is the flagship of the popular Washington design by John Flanagan that is still widely circulating today.
On the front, First President George Washington faces the left field of the coin. The designer stamped his initials JF below the neckline and just above the “2” of the 1932 inscription below the bust.
Other obverse inscriptions include LIBERTY above Washington’s head and IN GOD WE TRUST to the lower left. The IN GOD WE TRUST on the 1932 quarter uses a lighter stroke than subsequent years for the motto.
Flanagan’s Bald Eagle design marks the back of the coin. The eagle’s wings are spread while it faces the left of the coin and perches on arrows and olive branches. Between the wings is the motto E PLURIBUS UNUM (Of Many One).
Reverse inscriptions read UNITES STATES OF AMERICA on the top rim and QUARTER DOLLAR along the bottom.
All Washington quarters prior to 1964 are mostly silver. The 1932 quarter contains about 0.1808 ounces of silver. The round coins weigh 6.25 grams and have a 24.30 mm diameter and a 1.75 mm thick reeded edge.
A total of 6,248,800 quarters were made for circulation in 1932.
The First Year of the Washington Quarter Series
The Washington Quarter design by John Flanagan replaced the Standing Liberty design after 24 years of production. The previous year saw no quarters minted due to decreased need from The Depression, so 1932 was an exciting year for the coin.
The design came from a request by the Bicentennial Committee for the 200th anniversary of Washington’s birth (February 22, 1732). The Committee, which had been appointed by congress, hosted a contest and instructed artists to draw inspiration from the sculpted works of Jean Antoine Houdon.
Originally, Laura Gardin Fraser was sought after due to her design of the commemorative medal, but Treasury Secretary Andrew W. Mellon chose John Flanagan’s design instead.
The design was originally intended for the half dollar, but Congress instead ruled for the change on the quarter. This led to the most popular rendition of the U.S. quarter dollar that we see today.
The 1932 quarter was bought up quickly due to its novelty. It is also bookended by Depression years that saw no quarter production, putting more stress on circulating quarters from this year.
This led to the 1932 quarter’s position as one of the most collectible coins from the series, even without valuable repunched mint mark errors.
1932 D Quarter Value
Despite only producing 436,800 quarters in 1932, the Denver mint is only the second lowest production from this year. However, the 1932 D quarter is the most valuable of the three.
In circulated condition, 1932 D quarters still sell for $45. Their value increases steeply with condition, reaching $74 for a “Fine” coin and $127 for “Extremely Fine” quarters.
Coins from the Denver mint may be more plentiful, but they’re more difficult to find at a higher grade. “Uncirculated” 1932 D quarters sell for about $666 at market, but much more at auction.
The record-holding 1932 D quarter is a PCGS MS66 that sold for $143,750 in 2008. More recent auction sales of similar grade include a March 2020 sale for $65,600 and a January 2018 sale for $74,400.
1932 S Quarter Value
The 1932 S quarters were the least populated quarter dollar pieces made this year. Many were kept primarily by collectors, resulting in a smaller price ceiling for S mark quarters from 1932.
Coins in “Good” condition match the Denver coins and average sales for $47. The value chart is less steep, only reaching $68 in “Fine” condition and $92 when “Extremely Fine”.
Because more San Francisco quarters from this year are found at a higher grade, “Uncirculated” coins only sell for about $247. Serious sales at auctions see the highest graded coins attract more attention and profit.
The auction record for the 1932 S quarter belongs to a PCGS MS66 with a CAC seal of approval. This coin sold for $45,500 at a 2002 auction.
1932 Quarter Grading
While any coin going to auction or a serious buyer should have a professional grading session, you can determine the general quality of a coin using your naked eye. This doesn’t replace the 70 point scale, but it keeps you aware of coin condition.
A 1932 quarter in great condition will not have any wear and holds onto as much of its original mint luster as possible. There may be a few marks from handling that knock it down a few points, usually on high points like Washington’s hair or the eagle’s feathers.
While coins in lower grades are still worth their silver melt value, the higher grades are the ones that draw in the most money. If you suspect a coin is “Uncirculated”, it’s worth it to seek out professional opinion.
Rare 1932 Quarter Errors
Nineteen thirty-two quarters are popular and rare even before errors, but verified mint mistakes easily add onto the base value of your quarter. More serious and flashy errors should be professionally verified before assuming any increase in value.
The most recognized 1932 quarter errors include:
- Double die obverse (DDO)
- Double obverse coins
- CUD errors
- Broad struck coins
- Die cap coins
- Off center coins
All of these issues occur due to mistakes in the minting process, not post-mint damage or modification. Watch out for unscrupulous individuals attempting to mimic the rare and valuable coins by damaging an otherwise base-value coin.
1932 Double Die Obverse Quarter
While error strikes may occur in any multiples or on the front or back, a double die obverse is the most common seen on the 1932 quarter. These coins were struck twice on the front due to an issue in the automatic feeder or stuck coins.
When this happens you see a slight shift in details from the second strike, although more dramatic double strikes are highly desirable.
In lower Mint State grades, a 1932 DDO error has attracted sales at $250 to $1,000. A higher MS66 no mint mark DDO quarter sold for $3,055 in 2014.
1932 Double Obverse Quarter
A double obverse quarter does not have a reverse, and it may happen for a few reasons. Either the coin is struck with a reverse die cap, or it is struck on the obverse of a previously struck coin.
Despite this major oddity, these coins are only worth about $3 to $10. The coin should be authenticated prior to purchase, as many untrustworthy people try to fabricate this fascinating error.
1932 CUD Error Quarter
A CUD error is a specific die break that appears as a blob on the coin’s surface. When die breaks are left untreated they eventually break away at the edge and the empty space causes the coin to “bubble up”.
This leaves any inscriptions in that area blank, so it’s important the error doesn’t occur in such a way to remove the date or the mint mark. Most 1932 CUD quarters sell for about $100.
1932 Broad Struck Quarter
Broad struck quarters are those whose retaining collar didn’t hold the metal properly when the coin was struck. This collar is what gives the coin their shape and preserve’s coin thickness.
Without proper hold, the quarter expands a bit and may take on a different shape. The coins are usually slightly thinner as well.
Broad struck 1932 quarters sell for about $100 to $200.
1932 Die Cap Quarter
The die cap error on a 1932 quarter happens when the metal sticks to the hammer for too long. The prolonged pressure causes the metal to pool at the edges and then up the hammer, creating a “bottle cap” on the outside of the coin.
Because of the drastic change in shape and appearance that occurs, a 1932 die cap quarter is worth about $80 to $100 or more. The error has trickle effects on the quality of the coin that impede higher grading.
1932 Off Center Quarter
When a coin is struck off center it displaces its design and details but commands a small premium on price. Most of these coins are only slightly off, less than 10 percent, and attract a price around $15.
The most valuable off center quarters are those with a greater degree of displacement. Anything around 50 percent that still retains the mint mark and year of a 1932 quarter may sell for $25 to $100.
1932 Quarter FAQs
Are 1932 Quarters Rare?
Quarters from 1932 are rare due to their age and limited quantities. From this year, quarters minted in Denver are especially rare and carry the highest value, but any 1932 quarter in good condition is a valuable find.
The 1932 D and S marked quarters are among the most rare of the entire Washington quarter series. Not even 1 million were produced between the two, and this particular year did not see any production help from its surrounding years, further forcing the coins into circulation.
How Much Is a 1932 to 1964 Quarter Worth?
Quarters from 1932 to 1964 are worth at least their silver bullion value, currently about $4.51. Many quarters from these years are worth more than that due to their age and quality. For example, most 1932 quarters in better condition regularly sell for $45, and the worth only goes up from there.
Which 1932 Quarter Is worth the Most?
A 1932 D quarter is worth the most. While well-circulated coins of this mintage are worth the same as S-marked coins, higher grades of the 1932 D quarter sell for hundreds more. Both Denver and San Francisco mints produced fewer quarters this year, and finding them at all (especially in good condition) is rare.
Are 1932 Quarters Silver?
A 1932 quarter is 90 percent silver, and it contains about 0.1808 ounces of silver. The Washington quarters from 1932 to 1964 saw the end of the silver quarter series before it switched to nickel-clad copper.
