1962 Silver Quarter Value: How Much is it Worth Today?
It is not every day that you will find coins that are worth anything. If you have many old coins, they must not exceed a certain year to have any valuable mention. That is to say that the more recent a coin is, the less likely it is to be valuable. But is that applicable to the 1962 silver quarter?
The silver content of the coin is part of the factors that add value to it. Apart from that, the condition of the coin is another factor to consider when determining its value. In addition, the presence of a mint should increase its worth, although this is not always the case.
What is the 1962 silver quarter value? We discuss different aspects and how they affect the coin’s value in this article. We also look at the rare errors and whether they have any impact on the overall evaluable of the silver quarter.
1962 Silver Quarter Value Chart |
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|---|---|---|---|---|
| Mint Mark | Good | Fine | Extremely Fine | Uncirculated |
| 1962 No Mint Mark Silver Quarter Value | $3.86 | $3.86 | $3.86 | $4.93 |
| 1962 ‘D’ Silver Quarter Value | $3.86 | $3.86 | $3.86 | $4.93 |
Although it comprises mainly silver, the 1962 silver quarter has a low value, even in uncirculated states. But while this value may seem like nothing, you must consider the melt value. The silver purity is high, so it increases the value of the coin, especially if you have several of them.
Also, note that the value of the silver quarter may depend on the value of silver in the precious metals market. The prices for these precious metals change, so you may find differing prices for the silver quarter in different places over time.
The chart shows that the silver quarter was minted in two places in 1962; the Philadelphia and Denver branches were responsible for striking the coins. With a total mintage of 166,928,775, the quarter is abundant on the rarity scale, which significantly affects its overall value.
1962 saw the minting of Proof quarters, quite a number of them, although most are already in private collections. However, the Denver mint struck the highest number of silver quarters for that year, more than 70% of the total mintage.
There has always been the image of a U.S. president on the country’s currency for as long as anyone can remember, but that has not always been the case. President Abraham Lincoln was the first president to be featured on a circulating coin in 1909, and the first-ever person, dead or alive, to be on the coinage. Before that tie, coins were mainly numismatic.
The first Washington quarter, or the silver quarter, first appeared in 1932 with the image of one of the founding fathers and the first president of the country, George Washington. The 25-cent coin was struck with the plan to circulate it for only one year, hoping to restore the Standing Liberty quarter the following year 1933.
However, the demand for the Washington quarter to remain was high, forcing the Treasury and Mint to continue the production of the coins. The reason was that the public loved the coin and what it represented to it. Even today, the silver quarter is still in circulation, although there have been several changes over the years.
John Flanagan produced this design for the half dollar, but it was diverted to the silver quarter to celebrate the 200th anniversary of the founding father. It is a simple design made to look superior because of its shiny look. This is mostly because of its metal composition of 90% silver and 10% copper.
Coin Condition
The best-looking old coins are usually graded by professionals because they are hard to find. Such coins have the highest value because of their demand, preservation, and what they represent. Coins in circulated or degraded conditions are usually not graded, although you can learn how to tell their condition by looking at them.
You will typically find a coin in one of these conditions: good, fine, extremely fine, or uncirculated. These are the main categories under which old coins are graded. They can be further graded into different levels within these categories, but we will discuss more that later.
Uncirculated coins are the best. They can be in a gem state or mint state, typically hard to find, especially for much older coins. But if you find a 1962 silver quarter in this condition, you may get thousands of dollars for it. It is even more valuable if there are unique markers or rare errors.
Such coins still have all the markings, shine, and details like when they were first minted. You can make out all the details of the image, see the coin’s true color, and distinguish errors from damage if applicable.
In an extremely fine or extra fine state, the coin has lost some of its cleanness and sharpness. You will not see that shine or brightness when you hold it up to the light at an angle. Also, some of the details that should be in sharp relief would be a little dull.
A coin in this state still fetches good money but not as good as one in the former condition. In some cases, coins in extremely fine condition are the best you will find, so they may be the most expensive. In fine condition, the coin will no longer have most of its shine and details.
There are usually some grades between the former condition and this one, where you will find coins in different stages of degradation. They are circulated, and the more they move from one hand to another, the more they degrade. The lowest condition is the good condition, where a coin has lost its shine and all distinguishable details.
1962 No Mint Mark Silver Quarter Value
Silver quarters without a mint mark usually attract less money than coins with clear mint marks. The same applies to coins of all kinds. However, in the case of the 1962 silver quarter, the value of the no-mint mark coins is the same as those with a mint mark, according to the value chart.
By 1962, the Philadelphia mint had not begun striking a mint mark P on coins. So, no-mint mark silver quarters from 1962 were struck in the Philadelphia mint. A total of 36,156,000 regular quarters were produced, but the value is still low despite this relatively low mintage.
The value of these coins may change with time; the older the quarters get, the more in demand they will become. This is especially true if more of them go out of circulation and the demand for silver coins increases. Nevertheless, the value in a circulated condition is still much higher than the coin’s 25-cent face value.
While you will typically find this quarter for about $3 in circulated conditions, mint state quarters attract much higher prices. A 1962 MS 67+ silver quarter once sold for more than $24,000. Today, you may get the same coin in the same grade for about $5,000.
The obverse of the coin, which is also the head side, has the image of George Washington facing left with his hair in a ponytail behind him. Below the cut-off of the neck is the mint date 1962, and around the top of the head is the legend LIBERTY. In front of his neck and just below his jaw is the motto IN GOD WE TRUST.
The reverse has more details than the obverse. Also called the tail side, it features the image of an eagle with its face to the left and its wings stretched out. It clutches a bundle of thirteen arrows in its claws, representing the first thirteen Union colonies. Two olive branches are intertwined right under the bundle of arrows.
Under the olive branches is the denomination QUARTER DOLLAR. In the space at the top of the eagle’s head is the Latin lettering E PLURIBUS UNUM. Around the top part of the coin and in bold letters are the words UNITED STATES OF AMERICA.
Proof Silver Quarters
Philadelphia struck about 3,218,019 Proof silver quarters in 1962. This is a considerable number, although it is dwarfed by the total mintage. However, you can easily identify them because of their luster and sharp details.
They appear the way they do because of the burnished planchets and specially-made dies used for striking. The same does not apply to other coins, which is why they are called regular strike coins. But despite the special production and look of the coins, they are usually not expensive.
Most Proof silver quarters from 1962 are not available because of different private collections and archival storage. If you find one in the PR 70 state, you may only get about $300 for it.
1962 ‘D’ Silver Quarter Value
Denver minted about 127,554,756 silver quarters in 1962, which is a very high mintage. Because of this, the value is the same as that of coins without a mint mark. Most of these coins are in circulation, so you can hardly find one in a mint state.
The mint mark is on the reverse of the coin. Look at the spot where the two olive branches under the eagle merge; the mint mark is there. If that is difficult to find, look at the space on top of the R in QUARTER for the denomination. The mint mark D is in that space.
If you have a roll of coins with a 1962-D silver quarter in circulated condition, it may be worth only $3. But in better condition, it may be worth almost $5. Only 3 MS 67+ coins have ever been graded by PCGS, and the latest known one sold for a little over $1,900. The most expensive one sold for $18,400 more than a decade ago.
1962 Silver Quarter Grading
We mentioned earlier that old coins fit under four main categories. But within each category, the coins are further divided into different grades to separate look-alike coins. The same applies to the 1962 silver quarter, although it is not as old as some other coins that have been graded.
Professionals use a scale, called the Sheldon scale, to determine the exact grade of the coin. For example, a silver quarter can be said to be in a mint state or uncirculated condition. Under this, you will find that the coin is only MS 63, while another one in the same condition is graded MS 67.
Rare 1962 Silver Quarter Errors List
Rare errors on any coin can double or triple its value as long as it can be proven that the error is from the mint. The following are some errors you may find in the 1962 silver quarter.
1962 Silver Quarter D/D RPM Error
This error refers to the re-punching of the mint mark on a coin. That means you will find the error only on 1962-D silver quarters. The second punched mint mark is not in the exact spot as the first, which may cause the mark to appear too thick. This is why it is called D over D or D/D. in a high grade, a silver quarter with this error may sell for over $100.
1962 Silver Quarter Doubled Die Error
You may find a doubled die error on the obverse, reverse, or both. On some of the 1962 silver quarters, the error occurs on the obverse and reverse. So, the silver quarter has a DDO and DDR error.
On one silver quarter, the doubling appears on the motto In God We Trust. This doubled die obverse (DDO) error in MS 66+ caused the coin to sell for over $3,000. Some quarters also have a doubled die reverse (DDR) error, although they only sold for about $25 because coins with the same error are not rare.
1962 Silver Quarter FAQs
Is a 1962 quarter rare?
1962 quarters are not rare because of the high mintage. Almost 167,000,000 silver quarters were minted that year in two mint branches, and most of them are circulated. Even in uncirculated mint states, the coins are not worth much.
Is a 1962 quarter real silver?
A 1962 quarter comprises real silver, 90% of it, with 10% copper. The fineness of the silver improves the melt value, although you may not find as many as you want to increase the weight of silver for a more valuable output.
