Only 436,800 were struck at Denver in the first year of the Washington quarter — making the 1932-D the key date of one of America's most collected coin series.

Washington Quarter Value Guide

The 1932-D Washington quarter is the premier key date of the Washington quarter series and one of the most recognized key dates in 20th century American numismatics. With only 436,800 produced at the Denver Mint in the first year of the series, genuine examples are scarce at every grade level. Even a circulated Good-4 example commands $100–$150 — a significant premium above the coin's 90% silver melt value — and gem uncirculated specimens have sold for $10,000–$15,000+ at major auction.

1932-D Washington Quarter Values by Grade

The 1932-D and 1932-S — The Two Key Dates

The Washington quarter series began in 1932 with strikes at Philadelphia, Denver, and San Francisco. Philadelphia produced over 5.4 million — a common coin worth silver melt in circulated grades. Denver and San Francisco each produced under 500,000 — making both the D and S first-year issues the key dates of the entire series.

The 1932-S is slightly scarcer than the 1932-D by mintage (408,000 vs 436,800) and commands modestly higher prices in gem uncirculated grades. In circulated grades, values are essentially identical. Both are required for a complete Washington quarter date-and-mint set, and both are most commonly faked by adding a D or S mint mark to a common 1932 Philadelphia coin.

Authentication — Added Mint Marks

The most common fake 1932-D is a genuine 1932 Philadelphia quarter with a D mint mark added by engraving or stamping. The same approach is used on the 1932-S. Under a 10x loupe, examine the mint mark area on the reverse — the mint mark appears on Washington quarters at the bottom of the reverse, between the eagle's tail feathers. A genuine D shows clean metal with no disturbance. An added D shows tool marks, metal displacement, or different surface texture immediately around the mark.