The 1940 Washington Quarter is an interesting coin for collectors and anyone curious about currency history. Not only does it have a rich background, but it also has various grades and conditions that can greatly affect its value. In this article, we’ll explore what makes the 1940 Washington Quarter special, how much it’s worth, common errors, and some rare varieties. Whether you’re a seasoned collector or just starting, this guide will help you understand the significance of this coin.
Overview of the 1940 Washington Quarter
The Washington Quarter was first introduced in 1932, replacing the Standing Liberty Quarter. The design features a portrait of George Washington on the front. In 1940, this coin was produced at three different mints: Philadelphia, San Francisco, and Denver. Each mint produced a different number of coins, affecting how rare they are today.
Current Value of the 1940 Washington Quarter
A mint state example of a 1940 Washington Quarter can sell for at least $20, but many coins can go for over $100. The highest grades can reach impressive prices, sometimes even five figures! The silver melt value of a 1940 quarter is approximately $5, which is much more than its face value of 25 cents. This is true for all silver quarters made before 1965, thanks to their silver content.
Mintage and Pricing Details
The number of coins made at each mint can greatly influence their value. Here’s a quick look at the mintage and pricing for the different varieties of the 1940 Washington Quarter:
1940 Philadelphia Mint (P)
- Mintage: 35,704,000
- Value by Grade:
- MS-60: $20
- MS-61: $26
- MS-62: $28
- MS-63: $36
- MS-64: $42
- MS-65: $56
- MS-66: $80
- MS-67: $260
1940 Denver Mint (D)
- Mintage: 2,797,600
- Value by Grade:
- MS-60: $140
- MS-61: $150
- MS-62: $160
- MS-63: $200
- MS-64: $250
- MS-65: $285
- MS-66: $475
- MS-67: $750
1940 San Francisco Mint (S)
- Mintage: 8,244,000
- Value by Grade:
- MS-60: $32
- MS-61: $34
- MS-62: $36
- MS-63: $40
- MS-64: $53
- MS-65: $65
- MS-66: $125
- MS-67: $425
Notable Auction Records
Some 1940 Washington Quarters have sold for remarkable amounts at auctions:
- 1940 Quarter (P): Sold for $19,975 for an MS-68 in 2013.
- 1940-D Quarter: Sold for $17,500 for an MS-68 in 2022.
- 1940-S Quarter: Sold for $10,200 for an MS-68 in 2021.
These records show how certain coins, especially in top grades, can be very valuable.
Varieties and Errors of the 1940 Washington Quarter
Coin Varieties
Variety coins are those that have unique characteristics due to mistakes made during the minting process. There are two main varieties of the 1940 Washington Quarter:
1940-D DDO (Doubled Die Obverse)
This variety features noticeable doubling on the motto “In God We Trust.” The doubling happens when the die moves slightly during the minting process.
- Auction Record: Sold for $2,880 for an MS-66 in 2018.
- Value by Grade:
- MS-61: $165
- MS-62: $175
- MS-63: $235
- MS-64: $360
- MS-65: $950
- MS-66: $3,500
1940-D/D (Repunched Mint Mark)
This variety shows a “D” mint mark that has been repunched. The hand-punched mint marks sometimes misalign, leading to unique characteristics.
- Auction Record: Sold for $2,585 for an MS-66 in 2015.
- Value by Grade:
- MS-61: $180
- MS-62: $200
- MS-63: $325
- MS-64: $425
- MS-65: $625
- MS-66: $1,250
Understanding Error Coins
Error coins are unique due to mistakes made during the minting process. Unlike variety coins, errors usually happen due to mechanical issues. Some common types of error coins include:
- Cuds: Where part of the die breaks, causing metal to flow and fill the gap.
- Wrong Planchet Errors: Where a coin is struck on the wrong type of blank.
- Off-Center Strikes: When the blank is not fully inserted, resulting in a partial design.
- Double Strikes: Where a coin is struck twice before being ejected, often creating very unique pieces.
Conclusion
The 1940 Washington Quarter is not just a piece of currency; it’s a collectible with fascinating varieties and potential high value. Whether you’re looking to start a collection or are already deep into coin collecting, understanding the 1940 Washington Quarter can enhance your knowledge and appreciation for this important piece of history. With its minting details, grading scales, and the allure of error coins, this quarter has something for everyone. Collectors often seek out the highest grades, unique varieties, and error coins, which can offer exciting opportunities in the world of numismatics. Happy collecting!
Frequently Asked Questions (FAQ)
FAQ 1: What is the current value of a 1940 Washington Quarter?
The value of a 1940 Washington Quarter can vary based on its condition. A mint state example (MS-60) is worth around $20, while higher grades can exceed $100. Some top-grade coins can even reach values in the thousands, depending on rarity and market demand.
FAQ 2: How can I tell if my 1940 Washington Quarter is a rare variety?
To identify rare varieties, such as the 1940-D Doubled Die Obverse (DDO) or the 1940-D/D repunched mint mark, look for specific features. For the DDO, check for noticeable doubling on the motto “In God We Trust.” For the repunched mint mark, inspect the “D” mint mark for misalignment. Consulting a coin expert or reference guide can also help.
FAQ 3: What is the significance of the silver melt value for the 1940 Washington Quarter?
The 1940 Washington Quarter is made of 90% silver, giving it a melt value of approximately $5 based on current silver prices. This means that regardless of its collectible value, its intrinsic value based on silver content is significantly higher than its face value of 25 cents.