1932-S Washington Quarter Value & Identification Guide
The 1932-S is a first-year Washington quarter and the lowest-mintage regular issue of the series. Confirm the date, find the S below the reverse wreath, check the silver specifications and judge the surfaces before comparing value.
Reviewed by the Coins Identification editorial team · Updated September 20, 2026
A low-mintage first-year quarter
The 1932-S Washington quarter was struck at San Francisco in a mintage of 408,000, lower than the 1932-D's 436,800. It is a key date in the Washington quarter series, but the lower mintage should not be used as a substitute for examining the individual coin.
Circulated examples are collectible, while original Mint State pieces are much harder to find. A sound identification includes the date, reverse S, composition, weight range, edge, surface quality and comparison with authenticated references.
1932-S Washington Quarter specifications
PCGS CoinFacts identifies this issue as PCGS coin number 5792.
- Year
- 1932
- Denomination
- Quarter Dollar
- Mint
- San Francisco
- Mint mark
- S
- Mintage
- 408,000
- Composition
- 90% silver, 10% copper
- Weight
- 6.25-6.30 g
- Diameter
- 24.30 mm
- Edge
- Reeded
- Designer
- John Flanagan
- Strike
- Regular Strike
- PCGS number
- 5792
How Much Is a 1932-S Quarter Worth?
Grade and originality separate one 1932-S from another.
A genuine 1932-S quarter has value in circulated condition, but price rises sharply when the coin retains original luster and grades well. Hair, cheek, eagle breast, contact marks, toning, cleaning and certification all affect the comparison.
The table shows a PCGS Price Guide snapshot in U.S. dollars checked September 20, 2026. It is a research reference, not an appraisal. NGC values and completed auction results can differ, especially for attractive or exceptional coins.
| Grade | Description | Current guide reference |
|---|---|---|
| G4 | Good | $75 (PCGS guide snapshot) |
| VG8 | Very Good | $100 (PCGS guide snapshot) |
| F12 | Fine | $110 (PCGS guide snapshot) |
| VF20 | Very Fine | $120 (PCGS guide snapshot) |
| XF40 | Extremely Fine | $150 (PCGS guide snapshot) |
| AU50 | About Uncirculated | $200-$215 (PCGS guide snapshot) |
| AU55 | About Uncirculated | $265-$275 (PCGS guide snapshot) |
| AU58 | About Uncirculated | $325-$350 (PCGS guide snapshot) |
| MS60 | Mint State | $425 (PCGS guide snapshot) |
| MS62 | Mint State | $500-$550 (PCGS guide snapshot) |
| MS63 | Choice Mint State | $650-$750 (PCGS guide snapshot) |
| MS64 | Choice Mint State | $950-$1,350 (PCGS guide snapshot) |
| MS65 | Gem Mint State | $2,850-$6,000 (PCGS guide snapshot) |
| MS66 | High Mint State | $42,500 (PCGS guide snapshot) |
| MS66+ | Exceptional | PCGS CoinFacts auction record: $76,250 |
How Wear Changes a 1932-S Quarter
Look at the highest points and the original surface together.
Look for honest wear
Inspect Washington's hair and cheek, the eagle's breast and wing feathers, and the arrows. Worn coins can be genuine and important, but scratches, rim damage and cleaning can make a grade comparison less reliable.
Look for luster, not brightness
A Mint State coin should not show circulation wear. Bag marks, subdued luster, toning and strike quality still affect the grade, so one photograph is not enough to call a coin MS65 or higher.
Why Is the 1932-S Quarter Rare?
408,000 were struck, but survival and grade matter too.
The 1932-S has the lowest mintage among regular-issue Washington quarters listed by PCGS CoinFacts. Production began during the first year of the series, when demand was weak during the Great Depression. A low original mintage does not mean every surviving example is rare in every grade.
PCGS describes the 1932-D and 1932-S as similar in circulated rarity, while the 1932-D is scarcer in Mint State. That distinction is important when comparing an attractive circulated S with a high-grade D.
| Coin | Mint | Mark | Mintage |
|---|---|---|---|
| 1932 Quarter | Philadelphia | No mint mark | 5,404,000 |
| 1932-D Quarter | Denver | D | 436,800 |
| 1932-S Quarter | San Francisco | S | 408,000 |
Where Is the S Mint Mark on a 1932-S Quarter?
The S is on the reverse, not beside the date.
Flip the coin to the reverse and look below the wreath, beneath the eagle and above the lower lettering. A genuine 1932-S should show an S in that position. Compare its shape, spacing and surrounding metal with authenticated references.
Do not sharpen a blurry photograph until a mint mark appears. Disturbed metal, tool marks or an unnatural letter are reasons to stop and seek professional review before cleaning or selling.
- Check the date. It must read 1932.
- Flip the quarter. The mint mark is on the reverse.
- Look below the wreath. The letter should be S.
- Confirm the design. The reverse has the eagle, arrows and olive branches.
How to Identify a 1932-S Washington Quarter
Use several independent clues instead of one exciting detail.
- 01Check the date
Confirm 1932 and inspect the digits for damage or alteration.
- 02Find the reverse S
Look below the wreath, not beside the obverse date.
- 03Check the specifications
Use 90% silver, a 6.25-6.30 g reference range, 24.30 mm diameter and a reeded edge as screening clues.
- 04Inspect the mint-mark area
Look for tool marks, solder, disturbed metal or a mismatched letter style.
- 05Compare the whole coin
Valuable candidates should be compared with authenticated specimens and professionally reviewed.
Is a 1932-S Quarter Made of Silver?
Yes, the regular issue is 90% silver.
The 1932-S Washington quarter is 90% silver and 10% copper. The silver planchet has a reeded edge and a reference weight of about 6.25-6.30 grams depending on the grading-service specification. Neither a silver appearance nor a home test proves that the S was struck at San Francisco.
How Much Does a 1932-S Quarter Weigh?
PCGS lists 6.30 grams and NGC lists 6.25 grams for this type. Wear, dirt and scale accuracy can move a real coin outside a simple screen, so weight supports an identification but does not prove authenticity.
How to Tell if a 1932-S Quarter Is Real
An S mint mark alone does not prove that San Francisco struck the coin.
Check the date, reverse location, letter shape, surface around the S, full coin surfaces and physical specifications. A genuine Philadelphia quarter with an added S is an alteration risk, so compare the complete coin with authenticated examples rather than trusting a cropped close-up.
For a valuable raw coin, professional authentication is worth the cost. Hold it by the edge, keep it in its current state and avoid polishing, scraping or chemical tests.
The accompanying visual is a reference illustration, not a certification, guarantee of genuineness or example of an actual counterfeit.
1932-S vs 1932-D Quarter
S has the lower mintage; D is scarcer in high grades.
| Feature | 1932-S | 1932-D |
|---|---|---|
| Mint | San Francisco | Denver |
| Mint mark | S | D |
| Mintage | 408,000 | 436,800 |
| Composition | 90% silver | 90% silver |
| Key date | Yes | Yes |
| High-grade availability | More available than D | Scarcer |
1932-S vs 1932 Quarter With No Mint Mark
No mint mark means Philadelphia for this issue.
| Feature | 1932-S | 1932 no mint mark |
|---|---|---|
| Mint | San Francisco | Philadelphia |
| Mint mark | S below reverse wreath | None |
| Mintage | 408,000 | 5,404,000 |
| Composition | 90% silver | 90% silver |
| Relative availability | Key date | Much more common |
What Makes a 1932-S Quarter Valuable?
Value follows evidence, grade and market comparison.
Low mintage
Only 408,000 were struck at San Francisco.
Grade
Original Mint State surfaces are much harder to find than worn examples.
Originality
Cleaning, damage and altered surfaces reduce confidence and demand.
Certification
A trusted service can separate a key date from an altered or overgraded coin.
Why Was the Washington Quarter Introduced in 1932?
The first year honored George Washington's bicentennial.
The U.S. Mint introduced the Washington quarter in 1932 after the Standing Liberty design. John Flanagan's portrait honored George Washington's 200th birthday, and the first-year release came during the Great Depression when demand for new coins was weak. That context helps explain the low Denver and San Francisco production figures.
The obverse shows Washington, LIBERTY, IN GOD WE TRUST and the date. The reverse shows an eagle standing on arrows with olive branches below. The 1932-S is collected as a first-year key date because of its mintage and survival, not because the Mint intentionally created a rarity.
1932-S Washington Quarter Design
George Washington portrait, LIBERTY, IN GOD WE TRUST and 1932.
Eagle with spread wings, arrows, olive branches, UNITED STATES OF AMERICA, E PLURIBUS UNUM and QUARTER DOLLAR.
Before You Buy or Sell a 1932-S Quarter
Identify, authenticate, grade and then compare the market.
What to Check
- ✓ date reads 1932
- ✓ S is below the reverse wreath
- ✓ no obvious added-mint-mark evidence
- ✓ original surfaces and plausible grade
- ✓ certification number if encapsulated
- ✓ completed sales for the same grade
Should You Clean It?
No. Do not polish, dip, brush, scrape or remove toning. Cleaning can reduce collector value and remove surface evidence useful to an authenticator. Store the coin dry in an inert holder and handle it by the edge.
An asking price is not a completed sale. Compare the exact mint, grade, certification and eye appeal.
1932-S Quarter FAQ
Short answers for the identification and value questions collectors ask first.
How much is a 1932-S quarter worth?
A genuine 1932-S has collector value in circulated grades, while original Mint State examples can bring much more. Compare the exact grade, surfaces, certification and current completed sales.
Why is the 1932-S quarter rare?
It is a first-year Washington quarter with only 408,000 struck at San Francisco. The low mintage matters, but grade and originality still control the price of an individual coin.
How many 1932-S quarters were made?
The San Francisco Mint struck 408,000 regular-strike 1932-S Washington quarters. Mintage is the number struck, not the number surviving today.
Is the 1932-S the lowest-mintage Washington quarter?
It is the lowest-mintage regular-issue Washington quarter according to PCGS CoinFacts, but the 1932-D is often scarcer in high Mint State grades.
Where is the S mint mark?
Turn to the reverse. The S is below the wreath, beneath the eagle and above the lower lettering. It is not beside the obverse date.
Is a 1932-S quarter made of silver?
Yes. The regular issue is 90% silver and 10% copper, with a reeded edge. Silver content supports identification but does not authenticate the mint mark.
How much does a 1932-S quarter weigh?
Reference specifications vary slightly: PCGS lists 6.30 grams and NGC lists 6.25 grams. Wear, dirt and scale accuracy can also affect a reading.
Which is rarer, 1932-D or 1932-S?
The 1932-S has the lower mintage, 408,000 versus 436,800. The 1932-D is generally scarcer in high Mint State grades, so rarity depends on condition.
What does no mint mark mean on a 1932 quarter?
No mint mark means Philadelphia for this issue. It is not automatically an error and should not be treated as a Denver or San Francisco coin.
How can I tell if a 1932-S is genuine?
Check the date, reverse S location, letter shape, surrounding metal, weight range, diameter, edge and full surfaces. Valuable raw examples should receive professional authentication.
Can an S mint mark be added?
A mint mark can be altered on a genuine Philadelphia coin. Tool marks, disturbed metal and a mismatched letter are warning signs, but a close-up alone is not enough for a final opinion.
Should I clean a 1932-S quarter?
No. Do not polish, dip, brush or scrape it. Cleaning can damage the surfaces, reduce value and remove evidence useful to an authenticator.