1934-D 25C (Regular Strike)

Series: Washington Quarters 1932-1964

PCGS MS67+

PCGS MS67+

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PCGS MS67+

PCGS MS67+

PCGS MS67

PCGS MS67

PCGS #:
5796
Designer:
John Flanagan
Edge:
Reeded
Diameter:
24.30 millimeters
Weight:
6.30 grams
Mintage:
3,527,200
Mint:
Denver
Metal:
90% Silver, 10% Copper
Major Varieties

Current Auctions - PCGS Graded
Current Auctions - NGC Graded
For Sale Now at Collectors Corner - PCGS Graded
For Sale Now at Collectors Corner - NGC Graded

Rarity and Survival Estimates Learn More

Grades Survival
Estimate
Numismatic
Rarity
Relative Rarity
By Type
Relative Rarity
By Series
All Grades 300,000 R-1.8 12 / 93 TIE 12 / 93 TIE
60 or Better 22,000 R-2.7 18 / 93 TIE 18 / 93 TIE
65 or Better 3,000 R-4.4 13 / 93 13 / 93
Survival Estimate
All Grades 300,000
60 or Better 22,000
65 or Better 3,000
Numismatic Rarity
All Grades R-1.8
60 or Better R-2.7
65 or Better R-4.4
Relative Rarity By Type All Specs in this Type
All Grades 12 / 93 TIE
60 or Better 18 / 93 TIE
65 or Better 13 / 93
Relative Rarity By Series All Specs in this Series
All Grades 12 / 93 TIE
60 or Better 18 / 93 TIE
65 or Better 13 / 93

Condition Census What Is This?

Pos Grade Image Pedigree and History
1 PCGS MS67+

As PCGS MS67 #25027654. Heritage Auctions, June 6, 2013, Lot 4487 – $14,100. Pop 5, none finer when offered. As PCGS MS67+ #46582704. Stack’s Bowers, March 21, 2023, Lot 3112 – $9,600; "The BL Washington Quarter Collection" (PCGS Set Registry). Medium Motto. Sandy-gold toning. Brilliant area covers the lower right obverse field. Tick at the back of Washington’s hair. Small tick in front of ear—spot to the left of Y.

1 PCGS MS67+

Medium Motto. Obverse is dominated by a layer of amber toning with red and green colors along the edge. A thin untoned layer seperates this center toning from the rim. Orange-red toning spot near 8:30 at the rim. 

3 PCGS MS67

As PCGS MS67 #50835733. GreatCollections, December 22, 2024, Lot 1525411 - $5,161.50. As PCGS MS67 #50835733. Heritage Auctions, July 18, 2025, Lot 3461 – $5,760. As PCGS MS67 #53061915. Medium Motto. redominantly brilliant with wispy, mint-yellow toning. A small brown toning spot is noted between the eagle's wing and the "D" in UNITED. A horizontal die crack extends from the eagle's head to the wing.

3 PCGS MS67

As NGC MS67 #1853049-002. "The Anna's Wedding Collection of Washington Quarters," GreatCollections, April 29, 2018 - $3,362.50. As PCGS MS67 #46169936. "The Cherry Tree Collection of Washington Quarters," GreatCollections, January 29, 2023, Lot 1266367 - $4,134.38; Heritage Auctions, February 9, 2024, Lot 3312 – $4,560. Medium Motto. Predominantly brilliant, with pockets of thin olive patination and scattered flecks of steel-brown toning along the periphery.

3 PCGS MS67

David Lawrence Rare Coins, February 21, 2005, Lot 345 - $16,100; “The David Poole Collection of Silver Washington Quarters,” Heritage Auctions, January 10, 2013, Lot 5608 – $14,100; GreatCollections, May 24, 2020, Lot 840035 - $8,156.25; GreatCollections, July 11, 2021, Lot 1016123 - $8,849.25"The Dr. Steven Duckor Collection of Washington Quarters," GreatCollections, April 2, 2023, Lot 1342347 - $5,580Medium Motto. Scattered toning (mostly concentrated at BE in LIBERTY) on a mostly brilliant surface. 

3 PCGS MS67

GreatCollections, October 4, 2020, Lot 890125 - $8,156.25. Medium Motto. Champagne patination on both sides.

3 PCGS MS67

GreatCollections, December 22, 2019, Lot 781748 - $3,993.75Medium Motto. Intense gold, orange, and green toning along the periphery, mostly concentrated along the left of the obverse.

3 PCGS MS67

Heritage Auctions, January 7, 2016, Lot 5063 – $3,995; "The jwb1040 Collection," Heritage Auctions, February 22, 2018, Lot 3604 - $3,600Dr. John O. Phillips; "The Brodie Collection" (PCGS Set Registry). Medium Motto. Mottled goldenrod, orange, and olive toning along the left side of the obverse.

3 PCGS MS67

Heritage Auctions, July 7, 2011, Lot 3861 - $3,737.50. Medium Motto. Brilliant. Pin-sized toning spot at the rim, just below and to the right of the eagle's left wingtip.

3 PCGS MS67

Heritage Auctions, May 10, 2007, Lot 2120 – $21,850. Medium Motto. Scattered grey toning throughout. Pop 3, none finer when offered.

3 PCGS MS67

"The aci4md Collection" (PCGS Set Registry). Medium Motto. Brilliant centers, with flecks of orange-gold and green toning along the left obverse periphery.

3 PCGS MS67

Mitchell Spivack; "Wondercoins' 1932-1998 CS Washington Quarter Collection" (PCGS Set Registry). Intense patches of crimson toning streak diagonally across the obverse and concentrate along the reverse periphery.

3 PCGS MS67

Medium Motto. Silvery-blue patination accented by bold splashes of rust and mottled green toning.

3 PCGS MS67

Medium Motto. Iridescent periwinkle-blue and pink toning, with flecks of russet along the borders. A diagonal streak of orange-gold crosses the eagle's left wing.

3 PCGS MS67

Medium Motto. Frosty, brilliant. Two tiny ticks on Washington's jaw near his chin.

3 PCGS MS67

Medium Motto. Frosty, with scattered golden-orange flecks on the obverse near the "L" in LIBERTY, along the motto, and as a diagonal streak between "RT." A patch of prismatic toning is also noted at "RTER" in QUARTER.

3 PCGS MS67

Medium Motto. Iridescent toning dominated by gold and rose, with accents in blue and peacock green.

#1 PCGS MS67+

As PCGS MS67 #25027654. Heritage Auctions, June 6, 2013, Lot 4487 – $14,100. Pop 5, none finer when offered. As PCGS MS67+ #46582704. Stack’s Bowers, March 21, 2023, Lot 3112 – $9,600; "The BL Washington Quarter Collection" (PCGS Set Registry). Medium Motto. Sandy-gold toning. Brilliant area covers the lower right obverse field. Tick at the back of Washington’s hair. Small tick in front of ear—spot to the left of Y.

#1 PCGS MS67+

Medium Motto. Obverse is dominated by a layer of amber toning with red and green colors along the edge. A thin untoned layer seperates this center toning from the rim. Orange-red toning spot near 8:30 at the rim. 

#3 PCGS MS67

As PCGS MS67 #50835733. GreatCollections, December 22, 2024, Lot 1525411 - $5,161.50. As PCGS MS67 #50835733. Heritage Auctions, July 18, 2025, Lot 3461 – $5,760. As PCGS MS67 #53061915. Medium Motto. redominantly brilliant with wispy, mint-yellow toning. A small brown toning spot is noted between the eagle's wing and the "D" in UNITED. A horizontal die crack extends from the eagle's head to the wing.

#3 PCGS MS67

As NGC MS67 #1853049-002. "The Anna's Wedding Collection of Washington Quarters," GreatCollections, April 29, 2018 - $3,362.50. As PCGS MS67 #46169936. "The Cherry Tree Collection of Washington Quarters," GreatCollections, January 29, 2023, Lot 1266367 - $4,134.38; Heritage Auctions, February 9, 2024, Lot 3312 – $4,560. Medium Motto. Predominantly brilliant, with pockets of thin olive patination and scattered flecks of steel-brown toning along the periphery.

#3 PCGS MS67

David Lawrence Rare Coins, February 21, 2005, Lot 345 - $16,100; “The David Poole Collection of Silver Washington Quarters,” Heritage Auctions, January 10, 2013, Lot 5608 – $14,100; GreatCollections, May 24, 2020, Lot 840035 - $8,156.25; GreatCollections, July 11, 2021, Lot 1016123 - $8,849.25"The Dr. Steven Duckor Collection of Washington Quarters," GreatCollections, April 2, 2023, Lot 1342347 - $5,580Medium Motto. Scattered toning (mostly concentrated at BE in LIBERTY) on a mostly brilliant surface. 

#3 PCGS MS67

GreatCollections, October 4, 2020, Lot 890125 - $8,156.25. Medium Motto. Champagne patination on both sides.

#3 PCGS MS67

GreatCollections, December 22, 2019, Lot 781748 - $3,993.75Medium Motto. Intense gold, orange, and green toning along the periphery, mostly concentrated along the left of the obverse.

#3 PCGS MS67

Heritage Auctions, January 7, 2016, Lot 5063 – $3,995; "The jwb1040 Collection," Heritage Auctions, February 22, 2018, Lot 3604 - $3,600Dr. John O. Phillips; "The Brodie Collection" (PCGS Set Registry). Medium Motto. Mottled goldenrod, orange, and olive toning along the left side of the obverse.

#3 PCGS MS67

Heritage Auctions, July 7, 2011, Lot 3861 - $3,737.50. Medium Motto. Brilliant. Pin-sized toning spot at the rim, just below and to the right of the eagle's left wingtip.

#3 PCGS MS67

Heritage Auctions, May 10, 2007, Lot 2120 – $21,850. Medium Motto. Scattered grey toning throughout. Pop 3, none finer when offered.

#3 PCGS MS67

"The aci4md Collection" (PCGS Set Registry). Medium Motto. Brilliant centers, with flecks of orange-gold and green toning along the left obverse periphery.

#3 PCGS MS67

Mitchell Spivack; "Wondercoins' 1932-1998 CS Washington Quarter Collection" (PCGS Set Registry). Intense patches of crimson toning streak diagonally across the obverse and concentrate along the reverse periphery.

#3 PCGS MS67

Medium Motto. Silvery-blue patination accented by bold splashes of rust and mottled green toning.

#3 PCGS MS67

Medium Motto. Iridescent periwinkle-blue and pink toning, with flecks of russet along the borders. A diagonal streak of orange-gold crosses the eagle's left wing.

#3 PCGS MS67

Medium Motto. Frosty, brilliant. Two tiny ticks on Washington's jaw near his chin.

#3 PCGS MS67

Medium Motto. Frosty, with scattered golden-orange flecks on the obverse near the "L" in LIBERTY, along the motto, and as a diagonal streak between "RT." A patch of prismatic toning is also noted at "RTER" in QUARTER.

#3 PCGS MS67

Medium Motto. Iridescent toning dominated by gold and rose, with accents in blue and peacock green.

Charles Morgan:

The 1934-D Washington Quarter

When the Washington Quarter debuted in 1932, the United States was gripped by the Great Depression. The demand for new coinage had plummeted, which explains why no Standing Liberty Quarters were issued in 1931. In 1932, the need for the new design was so limited in Denver and San Francisco that those two issues became the series keys. Meanwhile, the Philadelphia Mint struck and retained such a large surplus that further production was deemed unnecessary for 1933.

When production resumed in 1934, the Mint’s engraving department utilized dies created from multiple hubs while refining design adjustments to strengthen the motto, "IN GOD WE TRUST." The Philadelphia Mint produced three distinct varieties:

  • Light Motto: Identical to the 1932 type.
  • Medium Motto: Features sharper detail while maintaining the original size.
  • Heavy Motto: Characterized by thick, bold lettering.

The Denver Mint utilized only the Medium and Heavy Motto hubs for the 1934-D; no Light Motto examples are known for this mintmark.

Denver's output of 3,527,200 coins marked its highest quarter production since the 1920-D Standing Liberty Quarter (Base #5736). Production likely spanned from the summer through the end of the year, as evidenced by the use of both motto types. Of the two, the Heavy Motto is the scarcer variety and commands a market premium. Despite the relatively high mintage, economic pressures from the Great Depression forced nearly the entire issue into immediate circulation, and only a modest number of specimens were preserved in high grade by collectors. Consequently, the 1934-D remains a scarce pre-WWII Washington Quarter, particularly in high grades.

Differentiating the 1934-D Medium and Heavy Motto Washington Quarters

While the thin lettering of the original 1932 design is easily identifiable, collectors often find the distinctions between the Medium and Heavy Mottos more subtle.

Essentially, the Medium Motto is noticeably bolder than the 1932 "Light Motto" but lacks the significant thickness of the Heavy Motto. Beyond overall weight, there are specific pick-up points within the lettering:

The Medium Motto

  • Level Tops: Aside from the curved G and S, the tops of all letters are flat and occupy the same horizontal plane.
  • Sharp Terminations: The serif of the G and the right leg of the R terminate at sharp points.
  • Asymmetry: The top of the S is shorter than its base. Additionally, the arms of the letters are uneven: the left arm of the first T in "TRUST" is longer than the right, while the second T has a shorter left arm.
  • The W: The center peak of the W in "WE" is shorter than the two outside legs.

The Heavy Motto

  • The "N": The top-left serif of the N in "IN" terminates at a sharp, upward angle.
  • The "G": The vertical serif at the base of the G is blunted and thick.
  • The "W": A key diagnostic; the center peak of the W extends higher than the flat tops of the left and right legs.
  • Symmetry: The S in "TRUST" appears more symmetrical than on the Medium Motto.
  • The "T"s: The first T in "TRUST" features shorter, more centered arms compared to the second T.

* * *

David Hall: The 1934-D is one of the key dates of the Washington quarter series. While not particularly rare in circulated grades, this is a scarce coin in mint state and a rare coin in Gem condition. In fact, only the 1932-D and 1932-S are rarer in MS65 or better. I'd speculate that in the depths of the Great Depression, not a lot of uncirculated quarter rolls were saved as a roll of quarters is $10 face value and that was a ton of money at the time. Mint state examples are often frosty and well struck, there just are not that many of them.