Are You Holding a Rare 1964 Quarter? What Makes This Coin So Valuable?

The 1964 Washington Quarter holds a special place in the history of U.S. coinage. It marks the final year when quarters were minted using 90% silver.

After 1964, the U.S. Mint transitioned to using copper-nickel clad coins, making the 1964 quarter the last of its kind.

Today, this coin is highly sought after by collectors and investors alike for its silver content, historical significance, and rare mint errors.

History of the 1964 Washington Quarter

Introduced in 1932 to honor George Washington’s 200th birthday, the Washington Quarter has been a staple of U.S. currency. The 1964 edition is particularly important as it was the last year quarters were struck in 90% silver.

With a mintage of over 1.2 billion coins across the Philadelphia, Denver, and San Francisco Mints, it stands out as one of the most widely produced quarters. However, many of these coins were melted down for their silver content, making them harder to find today in good condition.

Features of the 1964 Quarter

• Composition: 90% silver and 10% copper, weighing 6.25 grams with a diameter of 24.3 mm.
• Design:
  • Obverse (Front): A profile of George Washington with the words “LIBERTY” and “IN GOD WE TRUST.”
  • Reverse (Back): An eagle with outstretched wings holding arrows and an olive branch, symbolizing strength and peace.

The mint mark is located on the reverse side above the eagle, except for coins from the Philadelphia Mint, which have no mint mark.

Understanding the Varieties of the 1964 Quarter

The 1964 Washington Quarter is a historic coin and a favorite among collectors due to its 90% silver composition and several unique varieties. These coins come in different types, including regular strikes, proofs, special mint sets, and error coins. Let’s dive deeper into the varieties and values of the 1964 quarter.

1964 Regular Strike Quarter Value

The 1964 regular strike quarter was minted at three locations: Philadelphia, Denver, and San Francisco. These coins weigh 6.25 grams, measure 24.3 millimeters, and consist of 90% silver and 10% copper. The obverse features a profile of George Washington, while the reverse depicts an eagle with outstretched wings.

• High Mintage, Rare Survival:
  With over 1.2 billion coins minted, the 1964 quarter holds the record for one of the most widely produced U.S. quarters. However, many of these coins were melted down for their silver content during later years, making well-preserved examples uncommon.
• Current Value:
  Circulated regular strike 1964 quarters are valued at $6 to $8, depending on their silver content and condition. Uncirculated or high-grade examples can sell for hundreds of dollars, with exceptional specimens fetching even higher prices.

1964-D Quarter Value (Regular Strike)

The 1964-D quarter was minted at the Denver Mint, identifiable by the “D” mint mark located above the eagle on the reverse. Like its Philadelphia counterpart, it features George Washington on the obverse.

• High Mintage and Melting Impact:
  Over 704 million 1964-D quarters were minted, making it one of the highest mintage quarters. Despite this, many were melted for their silver value, reducing their availability in pristine condition.
• Value Based on Condition:
  Circulated 1964-D quarters in average condition are worth approximately $6. Coins in uncirculated condition or high grades can command prices ranging from hundreds to thousands of dollars, as certified by PCGS (Professional Coin Grading Service).

1964 (S) Quarter: Proof Value

Proof quarters from 1964 were minted at the San Francisco Mint and are distinguished by their brilliant, mirror-like finish. These coins were struck using a specialized process for collectors and were not intended for general circulation.

• Mintage:
  With a production of just over three million coins, proof quarters from 1964 are far rarer than regular strike quarters.
• Value:
  In average condition, 1964 proof quarters are valued between $10 and $15, depending on their preservation. Higher grades, especially those certified as Cameo or Deep Cameo (with frosted designs), can sell for hundreds to thousands of dollars.

1964 Quarter: Special Mint Set (SMS)

The 1964 Special Mint Set (SMS) quarter was produced at the Philadelphia Mint and lacks a mint mark, making it distinct from both regular strikes and proofs. These coins were struck with a satin finish, which gives them a soft, smooth appearance.

• Mintage and Rarity:
  Only 1.1 million SMS quarters were produced, making them a rare collectible. These coins were crafted with great attention to detail but were not intended for general circulation.
• Value:
  Average-condition SMS quarters are worth $20 to $25. High-grade or uncirculated examples can fetch between $1,500 and $25,000, depending on their quality and certification.

The 1964-D Quarter with 1965 Reverse

One of the most intriguing varieties is the 1964-D quarter featuring the reverse design from 1965. This error occurred when the U.S. Mint updated the quarter’s reverse design in 1965, but a 1965 reverse die was mistakenly paired with a 1964-D obverse die.

• Rarity:
  These coins are extremely rare and highly valued by collectors due to their historical significance and minting error.

1964 Quarter Error Coins

Several minting errors in the 1964 quarter series have increased the value of these coins. Here are some notable examples:

Double Die Obverse (DDO)

The 1964 DDO quarter features doubling in the letters of “In God We Trust” on the obverse.

• Value:
  These error coins are valued between $145 and $250, depending on their condition and grade.

Double Die Reverse (DDR)

The 1964-D DDR quarter shows doubling on the reverse.

• Value:
  In circulated fine condition, these coins are worth $40 to $120. High-grade examples can sell for $650 to $2,000.

1964 Type B Reverse Quarter

The Type B reverse was intended for proof coins but was mistakenly used on some regular strike quarters. It can be identified by spacing differences in the letters “E” and “S” in “States.”

• Value:
  This error coin is valued between $26 and $110, depending on its grade and condition.

Factors Affecting the Value of the 1964 Quarter

1. Condition and Grading
   Coins in pristine, uncirculated condition hold the highest value. Collectors look for coins graded MS-65 or above, as these often sell for hundreds or even thousands of rupees.
2. Mint Mark
   Quarters with a “D” mint mark from Denver tend to be more valuable due to their lower availability.
3. Silver Content
   Since the 1964 quarter contains 90% silver, its intrinsic value is tied to the price of silver. At ₹2,600 ($32.44) per ounce of silver, the melt value of a 1964 quarter is approximately ₹480 ($5.87).
4. Errors and Varieties
   • Double Die Obverse (DDO): Features doubling in the letters “In God We Trust,” with values ranging from ₹12,000 to ₹20,000 ($145 to $250).
   • Double Die Reverse (DDR): Found on Denver-minted coins, these errors can be worth ₹3,300 to ₹1,60,000 ($40 to $2,000).
   • Type B Reverse: A proof reverse design mistakenly used on regular coins, valued between ₹2,000 and ₹9,000 ($26 to $110).
   • 1964-D with 1965 Reverse: Rare coins with a 1965 reverse design can fetch over ₹2,00,000 ($2,500).

Special Mint Sets and Proof Coins

The 1964 Special Mint Set (SMS) coins were minted in limited quantities and are known for their unique satin finish. These coins are rare and can be valued between ₹1,600 and ₹2,000 ($20 to $25) for average specimens, with uncirculated examples reaching up to ₹20,00,000 ($25,000).

Proof coins from the San Francisco Mint stand apart for their detailed craftsmanship. Cameo and Deep Cameo versions are particularly prized by collectors.

Tips for Collectors

1. Inspect for Mint Errors: Look closely for double dies, off-center strikes, or other anomalies that can significantly boost the value of your coin.
2. Grade Your Coin: Have your quarter graded by a trusted service like PCGS or NGC to determine its true value.
3. Preserve Condition: Store your coins in protective cases to prevent scratches or tarnish.
4. Stay Updated: Track silver prices, as fluctuations can impact the coin’s melt value.

Conclusion

The 1964 Washington Quarter is more than just a coin; it is a historical artifact that represents the end of the silver era in U.S. coinage. Its value depends on factors like condition, mint mark, and the presence of errors.

Whether you are a seasoned collector or just starting, understanding the features and worth of this coin can help you make informed decisions. With some 1964 quarters fetching tens of thousands of rupees, it’s worth checking your collection—you might just discover a hidden treasure.

This article has been carefully fact-checked by our editorial team to ensure accuracy and eliminate any misleading information. We are committed to maintaining the highest standards of integrity in our content.