Coin Specifications

Category: Washington Quarters (1932-1998)
Mint: San Francisco
Mintage: 408,000
Obverse Designer: John Flanagan
Reverse Designer: John Flanagan
Composition: Silver
Fineness: 0.9000
Weight: 6.2500g
ASW: 0.1808oz
Melt Value: $3.08 (11/20/2017)
Diameter: 24.3mm
Edge: Reeded
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1932 S 25C MS obverse 1932 S 25C MS reverse

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Description & Analysis

The 1932-S quarter has the honor of being the lowest mintage circulating issue of this coin series. The number coined is fairly close to the mintage of 1932-D quarters, as neither coin was needed in commerce at the time. The mints struck just enough to provide collectors with three-mint sets, plus an additional quantity to foil speculators. It was thought at the time that 400 thousand coins was a mintage that could never become rare, but rapid expansion of the coin collecting hobby after the mid 1930s soon prompted the hoarding of both 1932-D and 1932-S quarters in all grades.

For reasons unknown, the San Francisco edition has proved to be a bit more common in Mint State than its Denver cousin. Perhaps, it was the traditional allure of S-Mint coins that prompted collectors to set aside more of this issue. The number of gems is also higher than for 1932-D, though these coins are still quite scarce for such a popular series. Most survivors have satiny or frosty luster, and attractively toned pieces are highly prized. Worn examples are plentiful, and the premium for such coins was low until the 1950s, when the sheer number of coin collectors made any piece desirable.

Many "1932-S" quarters were created from their Philadelphia cousins during the 1950s and '60s, so certified authentication of this issue is mandatory.


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Price Guide

Last Updated: 10/13/2017

Click on a price to see historical prices, comparison charts and trends.

1932 S 25C MS
Base $ 85.00 115 140 165 195 245 255 265 390 450 535 600 750 1225 4550 37500 - - - -
$ 205 250 260 290 415 500 585 650 900 1575 7900 - - -

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Total Graded: 5137
Low Grade: PrAg
Average Grade: 53
High Grade: 66

Upcoming Auctions

Auction Prices Realized

A random selection of coins is shown below.

Auction House
Sale / Lot
1/11/1997 PCGS MS 65   Heritage Auctions 1997 F.U.N. Signature Sale #165, 165/Lot# 6134 $1,840.00
2/14/2001 PCGS MS 62   Teletrade Auction 1407, 1407/Lot# 1167 $348.80
9/4/2011 PCGS Genuine Genuine   Goldberg September 4-6, 2011 The Pre-Long Beach Auction, 65/Lot# 1168 $195.50
12/30/2012 PCGS XF 45   David Lawrence Rare Coins Internet Auction # 732, 741/Lot# 604 $200.00
7/6/2014 NGC XF 45   GreatCollections GreatCollections Coin Auctions 07/06/2014, 188/Lot# 171979 $150.00
8/12/2015 PCGS MS 64   Heritage Auctions 2015 August 12 - 16 ANA US Coins Signature Auction - Chicago Session(6), 1223/Lot# 7661 $646.25
8/18/2015 PCGS   Stack's Bowers 2015 Chicago ANA, 6104/Lot# 42402 $588.68
11/1/2015 NGC MS 62   Heritage Auctions Internet Coin Auction Session(1), 131545/Lot# 23130 $385.40
6/1/2016 PCGS   Stack's Bowers June 2016 CC Online, 6143/Lot# 10101 $1,997.50

NGC Registry

NGC Registry Score 1932 25C MS S
Registry Image Gallery
Grade: MS 65
Points: 3765
Owner: Daniel McMunn
Grade: MS 64
Points: 1907
Owner: BQcoins
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