The 1966 Washington Quarter is a unique piece of American currency with an interesting history. In the mid-1960s, the U.S. Mint faced challenges as the economy struggled, leading to significant changes in coin production. This article will explain the values of the 1966 Washington Quarter, its errors and rarities, and why collectors are so interested in it.
The 1966 Washington Quarter: A Brief History
In 1966, the U.S. Mint was busy creating quarters to meet the country’s needs. Until 1965, all coins, including dimes and half dollars, were made from 90% silver. However, as silver prices soared, people began hoarding coins, making it difficult for everyday transactions. Surprisingly, over 821 million Washington Quarters were produced that year at the Philadelphia Mint, which is a lot but less than the 1.8 billion quarters made in 1965.
Even today, you can find 1966 quarters still in circulation, and some of them might be in excellent condition, almost uncirculated.
1966 Washington Quarter Prices
The value of the 1966 Washington Quarter largely depends on its condition. Coins that are uncirculated and graded highly can be quite valuable. Coins are graded on a scale from 1 to 70, where 1 means the coin is heavily worn and 70 means it is perfect.
Price Guide for 1966 Washington Quarters
| Grade | Price |
|---|---|
| MS-60 | $0.25 |
| MS-61 | $0.25 |
| MS-62 | $0.25 |
| MS-63 | $8.00 |
| MS-64 | $10.00 |
| MS-65 | $16.00 |
| MS-66 | $30.00 |
| MS-67 | $285.00 |
Mintage: 821,101,500
Record Prices for Rare Coins
Some of the finest examples of the 1966 Washington Quarter have sold for impressive amounts at auction. The highest recorded auction price for a 1966 quarter was $21,000 for an MS-68+ grade coin in 2023.
Varieties and Errors of the 1966 Washington Quarter
Varieties and errors in coins can make them more interesting and valuable to collectors. A variety coin results from a mistake during the minting process and can occur many times, while error coins are usually one-of-a-kind due to unique issues during production.
Recognized Varieties
The only well-known variety of the 1966 Washington Quarter is the Doubled Die Reverse (DDR). It is quite rare and typically does not appear at auctions. The auction record for an XF-45 grade DDR is $920.
Common Errors
Error coins have different types, and they can be highly sought after by collectors. Here are some common types of errors:
- Cuds: A piece of the die breaks, creating a unique pattern on the coin.
- Wrong Planchet: A coin is made from the wrong type of metal or blank, leading to interesting variations.
- Off-Center Strikes: These occur when a coin is not fully aligned during minting, resulting in a design that is cut off.
- Double Strikes: A coin that gets stamped twice can be very valuable, especially if the design overlaps.
The Impact of the 1964 Coin Crisis
The coin shortage in the early 1960s greatly affected coin production, including the 1966 Washington Quarter. As people hoarded silver coins, the government struggled to keep enough currency in circulation. In response, the Mint director decided to remove mint marks from coins from 1965 to 1967. This was intended to reduce collector interest, but it only fueled the demand for high-quality coins, leading to further price increases in the collector market.
Conclusion
The 1966 Washington Quarter is a fascinating piece of American history, reflecting the challenges faced during a time of economic struggle. With millions produced, these coins can be found today in various conditions, and some are highly valuable, especially those in excellent condition or with unique errors. Whether you’re a collector or just curious, understanding the values and varieties of the 1966 Washington Quarter can enhance your appreciation for this iconic coin. Collecting coins can be a rewarding hobby, as each coin tells a story about its time and place in history.
Frequently Asked Questions (FAQ)
1. What is the value of a 1966 Washington Quarter?
The value of a 1966 Washington Quarter varies based on its condition. In general, uncirculated coins graded MS-63 can be worth around $8, while those graded MS-67 can reach $285. Rare examples, especially those in MS-68 or higher, have sold for as much as $21,000.
2. Are there any rare varieties of the 1966 Washington Quarter?
Yes, the most recognized variety is the Doubled Die Reverse (DDR). This type of coin has a noticeable doubling effect on the reverse side and is quite rare, with auction records showing a sale for $920 for an XF-45 grade.
3. What are error coins, and are there any common errors in 1966 Washington Quarters?
Error coins are unique pieces created due to mistakes during the minting process. Common errors in 1966 Washington Quarters include cuds (where part of the die breaks), off-center strikes (where the coin isn’t properly aligned), and double strikes (where the coin is stamped twice).