The NGC Universal ID is a four digit alphanumeric that groups coins based on a unique combination of date, mintmark, denomination and striking process (MS, PF, or SP). These IDs are a simple organization of all coins prior to variety attribution and grading.
While certainly not low in an absolute sense, the original mintage (9.3 million pieces) of the 1949 in on the low side for a Philadelphia Mint Washington Quarter from this era.
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