In 1965, the US Mint made a change that still matters today: they removed silver from quarters entirely, switching to a copper-nickel clad composition. Every quarter dated 1964 or earlier (the Washington quarter series) contains 90% silver. At current silver prices, that gives even a heavily worn silver quarter an intrinsic value of about $4–$5 — far more than its 25¢ face value. Certain key dates and varieties are worth dramatically more.
Each Washington quarter (1932–1964) weighs 6.25 grams and is 90% silver, giving it 0.1808 troy ounces of pure silver. At $28/oz silver spot price, that's approximately $5.06 in melt value. At $30/oz, it's $5.42. Any premium over melt depends on date, mint mark, and condition.
| Silver Spot Price | Silver Quarter Melt Value |
|---|---|
| $22/oz | $3.98 |
| $25/oz | $4.52 |
| $28/oz | $5.06 |
| $30/oz | $5.42 |
| $35/oz | $6.33 |
The very first year of the Washington quarter series, and the Denver Mint struck only 436,800 — one of the lowest mintages of any 20th-century US coin in regular production. This key date commands significant premiums in all grades.
| Grade | 1932-D Value | 1932-S Value |
|---|---|---|
| Good (G-4) | $175–$250 | $80–$120 |
| Fine (F-12) | $250–$350 | $120–$175 |
| Very Fine (VF-20) | $350–$500 | $180–$250 |
| Extremely Fine (EF-40) | $500–$700 | $250–$350 |
| About Uncirculated (AU-50) | $700–$1,000 | $350–$500 |
| MS-63 | $2,000–$3,500 | $800–$1,400 |
| MS-65 | $8,000–$15,000 | $3,000–$6,000 |
San Francisco struck only 408,000 quarters in 1932. The 1932-S is slightly more available than the 1932-D in the market but commands similar premiums. Both are essential key dates for Washington quarter set completion.
The 1934 Washington quarter has a dramatic doubled die variety affecting the date and motto. Strong examples command $200–$800 in circulated grades, with MS specimens selling for thousands. Examine your 1934 quarters carefully with a magnifier for doubling on "IN GOD WE TRUST" and the date.
A repunched mint mark variety where the D was punched twice in slightly different positions. These are popular with variety collectors and trade at premiums of 50–300% over regular 1942-D values depending on the strength of the repunching.
| Date | Mint Mark | Circulated (VG-F) | EF-AU | MS-63 |
|---|---|---|---|---|
| 1932 | P (no mark) | $5–$8 | $12–$20 | $50–$90 |
| 1932-D | D | $180–$300 | $500–$700 | $2,000–$3,500 |
| 1932-S | S | $80–$150 | $250–$400 | $800–$1,400 |
| 1934–1939 | P/D/S | $5–$15 | $15–$40 | $50–$300 |
| 1940–1945 | P/D/S | $4–$8 | $10–$25 | $30–$150 |
| 1946–1955 | P/D/S | $4–$7 | $8–$18 | $20–$80 |
| 1950-D Over S | D/S | $15–$30 | $35–$60 | $200–$400 |
| 1956–1964 | P/D | $4–$6 | $7–$12 | $15–$50 |
| 1964 | P/D | $4–$5 | $6–$10 | $12–$30 |
The 1964 Washington quarter was minted in massive quantities (over 1.6 billion combined Philadelphia and Denver) as the government scrambled to produce silver coins before the composition change. As a result, 1964 quarters are the most common silver quarters in all grades. They're worth melt value in circulated condition but can bring modest premiums in gem MS-65+ grades due to their availability as type coins.
Proof Washington quarters from 1936–1942 and 1950–1964 were specially struck for collectors with mirror-like fields. Pre-war proofs (1936–1942) are scarce and in high demand — a 1936 Proof-67 can sell for $3,000+. Post-war proofs are more available but still command premiums in top grades.
Cleaned silver quarters are common and dramatically reduce value. Signs of cleaning include: unnatural brightness without cartwheel luster, hairlines visible under magnification, a "wiped" look to the fields. Toned silver quarters — even dark ones — are usually preferable to bright, cleaned examples, as the toning indicates original surfaces.
For common date silver quarters, local coin dealers and eBay are both efficient options. Dealers typically pay 80–90% of melt for common silver quarters in bulk. For key dates like the 1932-D or 1932-S, PCGS or NGC certification is strongly recommended before selling — it significantly increases buyer confidence and realized prices.
🛒 Shop Silver Quarters on eBayBefore the Washington series (1932–1964), two other types of silver quarters circulated:
Barber Quarters (1892–1916): Named for designer Charles E. Barber, these 90% silver coins are all worth at least $8–$15 in worn grades, with key dates like the 1896-S ($5,000+ in Fine) commanding serious money.
Standing Liberty Quarters (1916–1930): A gorgeous design also in 90% silver. The 1916 and 1918/17-S overdate are major rarities. Even common dates in EF-AU grades are worth $30–$80 for their beauty and silver content.