1923-S Standing Liberty Quarter

Specifications

Denomination: 25c
Series: Standing Liberty quarter (1916-1930)
Designer: Hermon A. Mac Neil
Years of issue: 1923
Composition: 90% Silver, 10% Copper
Weight: 6.3 g
Diameter: 24.3 mm
Edge: Reeded
KM: 145
Mintage: 1360000
Key mintages: 1,360,000 (PCGS CoinFacts; Heritage Auctions). PCGS survival est. 8,000 / 500 MS60+ / 200 MS65+.

Melt value: $11.75silver $64.40/ozt, copper $0.44/ozt · prices as of Sep 16, 2026

Wikimedia Commons — file 'Standing Liberty Quarter Type2 1924D Obverse.png' (U.S. coin design, public domain in the U.S.; see Commons file page for photo license)

1,360,000 struck — the series' toughest Full Head prize, with PCGS estimating just 200 survivors at MS65 or better.

History

San Francisco struck 1,360,000 quarters in 1923, a low-mintage better date in the Standing Liberty series (PCGS CoinFacts; Heritage Auctions; accessed 2026-09-16)
PCGS survival estimates: 8,000 in all grades, 500 in MS60 or better, and 200 in MS65 or better (PCGS CoinFacts; accessed 2026-09-16)
The 1916 (52,000) is the series key; the other scarce issues are the 1921, 1927-D, and 1927-S alongside the 1923-S (Newman Numismatic Portal; accessed 2026-09-16)
Heritage notes the key-date status drives strong demand for Full Head representatives in particular (Heritage Auctions; accessed 2026-09-16)
The design is Type 2 (stars below the eagle, pedestal date — chainmail Liberty), the same type used 1917–1924; the recessed-date Type 3 arrived in 1925 (The Spruce Crafts; Newman Numismatic Portal; accessed 2026-09-16)

Key dates and varieties

Mintage 1,360,000 (PCGS CoinFacts; Heritage Auctions; accessed 2026-09-16)
Full Head (FH) designation carries large premiums — PCGS lists MS65 FH at $10,500/$12,500 vs. non-FH levels far below (PCGS Price Guide; accessed 2026-09-16)
The 1916 key (52,000) and 1927-S (396,000) frame the 1923-S among the series’ four scarce branch-mint dates (Newman Numismatic Portal; Collectors Weekly; accessed 2026-09-16)

Specifications

composition
designers
diameter
edge
mint
weight

Certified populations: PCGS survival estimate: 8,000 all grades; 500 in MS60 or better; 200 in MS65 or better (PCGS CoinFacts)

Collector notes

The S sits on the obverse, immediately right of the lowest left-hand stars beside Liberty’s feet — prime territory for added-mintmark fakes, so buy certified (Wikipedia; accessed 2026-09-16)
Full Head (FH) = complete head detail; FH examples bring multiples of non-FH price — the single biggest value lever on this date (Heritage Auctions; PCGS Price Guide; accessed 2026-09-16)
The date sits raised on the pedestal (pre-1925, not recessed) and wore away quickly in circulation — sharp, complete date numerals add value (Numismatic News; Newman Numismatic Portal; accessed 2026-09-16)