| Survival Estimate | |
|---|---|
| All Grades | 53,000 |
| 60 or Better | 4,500 |
| 65 or Better | 500 |
| Numismatic Rarity | |
|---|---|
| All Grades | R-2.4 |
| 60 or Better | R-4.1 |
| 65 or Better | R-6.0 |
| Relative Rarity By Type All Specs in this Type | |
|---|---|
| All Grades | 9 / 93 |
| 60 or Better | 9 / 93 |
| 65 or Better | 6 / 93 TIE |
| Relative Rarity By Series All Specs in this Series | |
|---|---|
| All Grades | 9 / 93 |
| 60 or Better | 9 / 93 |
| 65 or Better | 6 / 93 TIE |
#1 PCGS MS67+
As PCGS MS67 #37717625. “The Washington Rainbows Collection, the #1 PCGS Registry Set of Silver Washington Quarters, 1932-1964,” Stack’s Bowers, March 25, 2021, Lot 2278 – $11,400. As PCGS MS67 #42800462. Stack’s Gowers, November 22, 2021, Lot 1345 – $12,000. As PCGS MS67+ #47423324. Stack’s Bowers, March 26, 2024, Lot 4103 – $20,400; "The digger69 Collection" (PCGS Set Registry). Heavy Motto. Intensely toned in green, gold, magenta, and blue. |
#2 PCGS MS67
As PCGS MS66+ #81287395. GreatCollections, October 26, 2025, Lot 1955624 - $1,812.38. As PCGS MS67 #55913848. Heavy Motto. Iridescent gold and green toning with aubergine and gold accents. "Untoned" spot near the obverse rim at 10 o'clock. |
#2 PCGS MS67
Heritage Auctions, August 31, 2025, Lot 3851 - $8,700. Heavy Motto. Muted rainbow color. A horizontal die crack spans the upper obverse through Washington's hair. |
#2 PCGS MS67
GreatCollections, January 5, 2025, Lot 1731178 - $6,468.75; GreatCollections, May 4, 2025, Lot 1739353 - $5,301. Heavy Motto. All-over gold and peacock-green toning featuring splashes of blue and purple. The peacock-green toning covers the date, while blue and purple tones saturate "QUARTER DOLLAR." |
#2 PCGS MS67
Heritage Auctions, February 9, 2023, Lot 3740 – $10,200; Dr. John O. Phillips; "The Brodie Collection" (PCGS Set Registry). Heavy Motto. Intense blood-orange crescent toning along the right side of the obverse. |
#2 PCGS MS67
As PCGS MS66+ #25392812. Heritage Auctions, January 10, 2013, Lot 4775 – $6,462.50. As PCGS MS67 #25035721. Heritage Auctions, June 6, 2013, Lot 4488 – $14,687.50. Heavy Motto. Splashes of red and orange toning appear at the date, with light orange tones scattered across the obverse and reverse. |
#2 PCGS MS67
|
#2 PCGS MS67
"The Escalante Collection" (PCGS Set Registry). Heavy Motto. Rose and mint-yellow patination accented by splashes of rainbow color. A diagonal, brush-like stroke of orange toning appears across the motto. |
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:
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.
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
The Heavy Motto
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