1909 VDB Penny Value, Errors, and Varieties
1966 Washington Quarter Values, Errors, and Rarities
Complete collector's guide to 1966 Washington Quarter values, grading, varieties, and the historic 1964 coin crisis
Introduction
The US Mint was still working overtime to supply the nation with coins in 1966. Until 1965, all denominations, from the dime to the half dollar, were made from 90% silver. The economy had virtually ground to a standstill as people hoarded every coin that they could find—even the nickels and cents, which had no silver content.
All 1966 Washington Quarters were struck at the main US Mint in Philadelphia. More than 821 million quarters were produced in 1966. That sounds impressive, but it is still less than half the 1.8 billion quarters made in 1965. In fact, you can still find 1966 quarters in circulation today, even some that might qualify as "almost uncirculated"!
All struck at the Philadelphia Mint (no mint mark)
Post-Silver Era
1966 quarters contain no silver, marking the transition from 90% silver coins to copper-nickel clad composition.
High Mintage
Over 821 million produced to meet demand during the coin shortage crisis following silver removal.
Still in Circulation
Many 1966 quarters can still be found in everyday circulation, with some in surprisingly good condition.
Complete 1966 Quarter Guide
1966 Washington Quarter Prices
The most valuable coins are uncirculated ones that earn the highest "Mint State" ratings from certified coin grading services. Mint State (aka uncirculated) coins are graded from MS60 to MS70.
Coins are graded on a 70-point scale, where 1 is so worn as to be almost unidentifiable, and 70 is perfect, with no damage or blemishes visible even under magnification.
| Grade | Condition | Typical Value | Description |
|---|---|---|---|
| Good (G-4) | Heavily circulated | $0.25 - $0.30 | Outline clear, details worn smooth |
| Very Fine (VF-20) | Moderately circulated | $0.30 - $0.50 | Major details visible, moderate wear |
| Extremely Fine (EF-40) | Lightly circulated | $0.50 - $1.00 | Light wear on high points |
| About Uncirculated (AU-50) | Minimal circulation | $1.00 - $3.00 | Slight wear on highest points |
| Mint State (MS-60) | Uncirculated | $3.00 - $8.00 | No circulation wear, may have marks |
| Mint State (MS-65) | Gem uncirculated | $15.00 - $50.00 | Minimal contact marks, attractive |
| Mint State (MS-67+) | Superb gem | $500.00 - $21,000+ | Exceptional quality, rare in this grade |
Grading Considerations
- Look for original mint luster
- Check for contact marks and bag marks
- Examine hair details on Washington's portrait
- Inspect the eagle's breast feathers on reverse
- Professional grading recommended for high grades
Market Factors
- High mintage keeps most values low
- Only top grades command significant premiums
- Certified coins bring higher prices
- Collector demand focuses on MS-65 and above
- Common date with limited numismatic premium
Most Expensive 1966 Washington Quarters: Finest Known and Auction Records
This section highlights the finest-known examples of the 1966 Washington Quarter. The auction record listed may or may not reflect the highest price ever paid since person-to-person private sales are not recorded.
Finest Known: MS-68+ (1 coin graded by PCGS); MS-68 (23 coins graded by NGC)
Population Report Significance
The numbers in the PCGS and NGC entries represent the number of coins at that grade that each service has graded:
- PCGS MS-68+: Only 1 coin certified at this level
- NGC MS-68: 23 coins certified at this level
- Higher grades are virtually non-existent
- Condition rarity drives premium values
Investment Considerations
- Extreme condition rarity creates value
- Population reports change over time
- Registry set competition drives demand
- Professional grading essential at high levels
- Market timing affects auction results
Understanding Auction Records
The record-setting $21,000 price demonstrates how condition rarity can create extraordinary value even in common-date coins. The MS-68+ grade represents the finest known example, making it unique among the 821+ million quarters produced.
1966 Washington Quarter Varieties
Variety coins are coins that have had something happen to the die before the coin is struck. Common coin varieties include Doubled Die on Reverse (DDR), Doubled Die on Obverse (DDO), and Repunched Mint Mark (RPM).
Variety vs. Error
The difference between variety coins and error coins is that variety coins result from a mistake on the coin die. Many hundreds or even thousands of variety coins with the same defect can be minted before the mistake is noticed.
Die Creation Process
Varieties occur during the die-making process when designs are doubled, dates are repunched, or other elements are misaligned during hub impressions.
Recognition and Value
Varieties require specific attribution and are listed in variety guides. Values depend on rarity, grade, and collector demand for specific varieties.
1966 Washington Quarter DDR
The only generally recognized 1966 Washington Quarter variety is the 1966 DDR (Doubled Die Reverse). It is rarely seen at auction, as evidenced by the auction record being held by a worn XF45 example.
Identifying the DDR
- Look for doubling on reverse lettering
- Check "UNITED STATES OF AMERICA"
- Examine "QUARTER DOLLAR" inscription
- Use magnification for clear identification
- Compare with normal examples
Variety Hunting Tips
The 1966 DDR is extremely rare in high grades, making even circulated examples valuable. Careful examination of reverse lettering is essential for identification, as the doubling can be subtle and requires good lighting and magnification.
How the 1964 Coin Crisis Impacted 1966 Quarters
Until 1965, all dimes, quarters, half dollars, and dollar coins were made with 90% pure silver. As silver prices rose in the early '60s, the value of the silver content of these coins exceeded their face value.
As silver prices continued to rise, more people hoarded every silver coin that they could get their hands on. The economy began grinding to a halt as the US Mint could not keep enough coins in circulation.
Silver Stacking Impact
Since "silver stackers" (people hoarding coins for their bullion value) were creating a shortage of all types of coins, coin collectors could not find nice 1960s coins in circulation.
- Silver content exceeded face value
- Widespread hoarding of silver coins
- Economic disruption from coin shortages
- Collectors bid up prices in secondary markets
Government Response
Government officials blamed collectors, not silver hoarders, for the coin shortage. This led to significant policy changes affecting coin production and mint marks.
- Removal of mint marks (1965-1967)
- Elimination of silver from most coins
- Increased production at all mints
- New copper-nickel clad composition
The Mint Mark Decision
Director of the US Mint Mary Adams decided in 1964 that removing mint marks from all US coins would reduce demand from collectors. As a result, from 1965 to 1967, no US coins carried a mint mark. Mint marks returned in 1968 after the coin shortage was considered over.
| Year | Composition | Mint Marks | Crisis Impact |
|---|---|---|---|
| 1964 and earlier | 90% silver | Present | Widespread hoarding begins |
| 1965 | Copper-nickel clad | Removed | Silver eliminated, record production |
| 1966 | Copper-nickel clad | None | Continued high production |
| 1967 | Copper-nickel clad | None | Crisis ending |
| 1968+ | Copper-nickel clad | Restored | Normal production resumed |
Error Coins
Error coins are a result of a mechanical malfunction of the coin press or a defect or mistake in the coin blank itself. This means that each error coin is unique, even if they were subjected to the same type of malfunction.
Types of Error Coins
Common error coins include:
- Off-center strikes: Coin not properly centered during striking
- Clipped planchets: Pieces missing from coin blank
- Double strikes: Coin struck twice by the press
- Die cracks: Cracks in the die transfer to coins
- Broadstrikes: Struck without collar, creating oversized coins
Error vs. Post-Mint Damage
It's crucial to distinguish between true mint errors and post-mint damage:
- Mint errors: Occur during the minting process
- Post-mint damage: Happens after leaving the mint
- Dryer coin damage is common post-mint damage
- Environmental damage affects value negatively
- Authentication by experts recommended
Error Authentication
Anything that happens to coins after they are ejected from the coining press is referred to as "post-mint damage." Professional authentication is essential for valuable error coins to distinguish genuine mint errors from damage that occurred after production.
Tips for Collectors and Investors
Collecting 1966 Washington Quarters requires understanding their place in numismatic history and the factors that affect their value in today's market.
Value Opportunities
- Focus on high-grade uncirculated examples
- Search for the rare 1966 DDR variety
- Look for mint errors and varieties
- Consider certified examples for investment
Market Realities
- High mintage limits most values
- Only exceptional grades bring premiums
- Historical significance adds interest
- Part of transition period collections
Collection Strategies
- Include in type sets for era representation
- Seek mint state examples for grade sets
- Study the coin crisis historical context
- Compare with silver predecessor coins
Investment Perspective
While most 1966 quarters have limited value due to high mintage, exceptional condition examples and rare varieties can command significant premiums. The historical significance of this transitional period adds numismatic interest beyond mere precious metal content.
Conclusion
The 1966 Washington Quarter represents a fascinating chapter in American numismatic history, marking the continued response to the 1964 coin crisis and the transition away from silver coinage. While most examples have limited collector value due to the enormous mintage, exceptional condition coins and rare varieties can achieve remarkable prices at auction.
Key Takeaways
- High mintage limits value for most examples
- Exceptional grades (MS-67+) command significant premiums
- The 1966 DDR variety is extremely rare and valuable
- Historical context adds numismatic significance
- Still found in circulation today
Collecting Value
- Important transitional period representation
- Educational value about the coin crisis
- Comparison point with silver predecessors
- Accessible entry point for new collectors
- Potential for variety and error discoveries
Historical Legacy
Understanding the 1966 Washington Quarter's place in numismatic history enhances appreciation for this common coin. The convergence of economic crisis, policy decisions, and minting technology created a unique moment that collectors can still experience through these accessible and historically significant quarters.