PCGS: The Standard for the Rare Coin Industry

1932-D 25C (Regular Strike)

Series: Washington Quarters 1932-1964

PCGS MS66

PCGS MS66

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PCGS MS65+

PCGS MS65+

PCGS MS65+

PCGS MS65+

PCGS #:
5791
Designer:
John Flanagan
Edge:
Reeded
Diameter:
24.30 millimeters
Weight:
6.30 grams
Mintage:
436,800
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 44,000 R-2.5 8 / 93 8 / 93
60 or Better 10,000 R-3.0 11 / 93 11 / 93
65 or Better 650 R-5.7 8 / 93 TIE 8 / 93 TIE
Survival Estimate
All Grades 44,000
60 or Better 10,000
65 or Better 650
Numismatic Rarity
All Grades R-2.5
60 or Better R-3.0
65 or Better R-5.7
Relative Rarity By Type All Specs in this Type
All Grades 8 / 93
60 or Better 11 / 93
65 or Better 8 / 93 TIE
Relative Rarity By Series All Specs in this Series
All Grades 8 / 93
60 or Better 11 / 93
65 or Better 8 / 93 TIE

Condition Census What Is This?

Pos Grade Image Pedigree and History
1 MS66 PCGS grade

Heritage 6/2015:3936, $82,250

1 MS66 PCGS grade

Marquette-Yakima Registry Set - Bowers & Merena 4/2008:322, $143,750

3 MS65+ PCGS grade

Stack's/Bowers 2/2015:1600, $41,125

3 MS65+ PCGS grade
3 MS65+ PCGS grade
3 MS65+ PCGS grade
3 MS65+ PCGS grade
8 MS65 PCGS grade  PCGS #5791 (MS)     65

Wondercoin Collection (PCGS Set Registry)

8 MS65 PCGS grade

High Desert Collection (PCGS Set Registry)

8 MS65 PCGS grade PCGS #5791 (MS)     65
#1 MS66 PCGS grade

Heritage 6/2015:3936, $82,250

#1 MS66 PCGS grade

Marquette-Yakima Registry Set - Bowers & Merena 4/2008:322, $143,750

#3 MS65+ PCGS grade

Stack's/Bowers 2/2015:1600, $41,125

#3 MS65+ PCGS grade
#3 MS65+ PCGS grade
#3 MS65+ PCGS grade
#3 MS65+ PCGS grade
 PCGS #5791 (MS)     65 #8 MS65 PCGS grade

Wondercoin Collection (PCGS Set Registry)

#8 MS65 PCGS grade

High Desert Collection (PCGS Set Registry)

PCGS #5791 (MS)     65 #8 MS65 PCGS grade
David Hall:

The 1932-D is by far the rarest of the Washington quarters. There are only two Washington quarters with mintages of under one million coins. The 1932-D has an original mintage of 436,800 coins and the 1932-S has a mintage of 408,000 coins. Both coins have been highly sought after in all grades for the past 60 years. They are the key dates of the Washington quarter series and actually are two of the better known rare coins of the twentieth century.

The post World War II coin boom (starting in the 1950s) saw a lot of collectors looking for coins in circulation that they needed for their various sets. At the time, it was possible to find most of the copper, nickel, and silver coins of the 20th century in circulation. They may have been low grades, but at the time most collectors just wanted to "fill the hole" and condition was a secondary consideration. The coins that were more difficult to find were the lower mintage coins such as the 1909-S VDB cent, the 1916-D dime, and the 1932-D and 1932-S quarters. They were nearly impossible to find in circulation and were relatively expensive even in low grades.

Nowadays, condition is much more important, but the 1932-D and 1932-S quarters are still very desirable in all grades. I believe they are very similar in rarity in circulated grades. But Uncirculated examples of the 1932-S was apparently saved a little more than the 1932-D in the year of issue as the 1932-D is definitely rarer than the 1932-S in mint state condition. The 1932-D has the lowest MS65 population of any Washington quarter. As I'm writing this there is one lone PCGS MS66, a marvelous coin that sold at auction for $143,000 in 2008.

Ron Guth:

According to a notice in the June 1934 issue of The Numismatist (p. 416), collectors could still purchase Uncirculated 1932-D Quarter Dollars directly from the U.S. Treasury for "the face value of the coins and an amount sufficient to cover the mail charrges by first-class mail."