1932-D and 1932-S Washington Quarters

Specifications

Denomination: 25 cents
Series: Washington Quarter (silver)
Designer: John Flanagan
Engraver: John Flanagan
Years of issue: 1932
Composition: 10% Copper, 90% Silver
Weight: 6.25 g
Diameter: 24.3 mm
Edge: Reeded
Key mintages: Denver: 436,800; San Francisco: 408,000. Left null because the page covers two distinct issues.

Melt value: $11.66copper $0.44/ozt, silver $64.40/ozt · prices as of Sep 16, 2026

GENERIC TYPE PHOTO ONLY — shows a 1944-S Washington quarter, NOT the 1932-D or 1932-S key dates. Public domain, U.S. Mint design.

The first-year keys of the Washington quarter series — the only two dates with mintages under one million, and coveted in every grade for over 60 years.

History

The Washington quarter debuted in 1932 as a one-year commemorative for George Washington’s 200th birthday, with the design by John Flanagan made permanent in 1934 (PCGS CoinFacts, Q. David Bowers; accessed 2026-09-16).
The 1932-D mintage was 436,800 coins, and the 1932-S mintage was 408,000 — the only two Washington quarters with mintages under one million, making them the series key dates (PCGS CoinFacts, David Hall; accessed 2026-09-16).
Both dates have been highly sought in all grades since the postwar coin boom of the 1950s; even worn examples were nearly impossible to find in circulation (PCGS CoinFacts, David Hall; accessed 2026-09-16).
The 1932-S is the lowest-mintage date of the entire Washington quarter series, while the 1932-D is rarer in Mint State — mint-state 1932-Ds are nearly twice as scarce as 1932-Ss, and the 1932-D has the lowest MS65 population of any Washington quarter (PCGS CoinFacts, David Hall; accessed 2026-09-16).
In 1934, Uncirculated 1932-S quarters could still be bought directly from the U.S. Treasury for face value plus first-class postage, per a June 1934 notice in The Numismatist (PCGS CoinFacts, Ron Guth; accessed 2026-09-16).

Specifications

Weight: 6.25 grams (96.45 grains) — Stack’s Bowers Coin Resource Center; accessed 2026-09-16
Composition: 90% silver, 10% copper (1932–1964 silver issues) — PCGS CoinFacts; accessed 2026-09-16
Diameter: 24.3 mm — GreatCollections auction archive spec sheet; accessed 2026-09-16
Designer: John Flanagan — PCGS CoinFacts (Q. David Bowers); accessed 2026-09-16
Edge: Reeded — Stack’s Bowers Coin Resource Center; accessed 2026-09-16

Collector notes

The 1932-D and 1932-S are among the most counterfeited U.S. coins; common fakes are added mintmarks on genuine 1932 Philadelphia quarters or Chinese-made replicas — buy only certified examples from PCGS or NGC.
Authentication hinges on the mintmark: genuine examples have a properly placed, punched D or S below the eagle; compare against certified examples and verify the cert number with the grading service.
Collectors should be wary of ‘sliders’ — circulated coins doctored to look Mint State — especially on the 1932-S, where PCGS notes full original luster and no rub are what matter.
Eye appeal is a major value driver on the 1932-S: many examples are toned, and quality of toning and luster separate premium coins from generic ones (PCGS CoinFacts, David Hall; accessed 2026-09-16).