1940 Washington Quarter Values, Varieties, and Rarities

A mint state example of a 1940 Washington quarter is worth at least $20, and often sells for over $100. The very highest grades of this coin can easily sell for five figures.

1940 p quarter

1940 Washington Quarter. Graded MS68 by PCGS

1940 Washington Quarter Prices

The Washington quarter design debuted in 1932, replacing the Standing Liberty quarter. It was produced at the Philadephia Mint, San Francisco Mint, and Denver Mint in 1940.

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.

1940 Washington Quarter Value

MINTAGE: 35,704,000

Grade
Price
MS-60
$20
MS-61
$26
MS-62
$28
MS-63
$36
MS-64
$42
MS-65
$56
MS-66
$80
MS-67
$260

1940-D Washington Quarter Value

MINTAGE: 2,797,600

Grade
Price
MS-60
$140
MS-61
$150
MS-62
$160
MS-63
$200
MS-64
$250
MS-65
$285
MS-66
$475
MS-67
$750

1940-S Washington Quarter Value

MINTAGE:8,244,000

Grade
Price
MS-60
$32
MS-61
$34
MS-62
$36
MS-63
$40
MS-64
$53
MS-65
$65
MS-66
$125
MS-67
$425

Most Expensive 1940 Washington Quarters: Finest Known and Auction Records

This is a list of the finest-known examples of each 1940 Washington Quarter mintage. The auction records listed may or may not reflect the highest price ever paid since person-to-person private sales are not recorded.

The numbers in the PCGS and NGC entries are the number of coins at that grade that each service has graded.

1940 QUARTER VALUE

AUCTION RECORD: $19,975 for MS-68 CAC (2013, Heritage)

FINEST KNOWN: MS-68 (7, PCGS); MS-68 (5, NGC)

1940-D QUARTER VALUE

AUCTION RECORD: $17,500 for MS-68 (2022, eBay)

FINEST KNOWN: MS-67+ (21, PCGS); MS-68 (1, NGC)

1940-S QUARTER VALUE

AUCTION RECORD: $10,200 for MS-68 (2021, Stack’s Bowers)

FINEST KNOWN: MS-68 (2, PCGS); MS-68 (2, NGC)


DID YOU KNOW?
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.


1940 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.) 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.

There are two major varieties of the 1940 Washington Quarter, both from the Denver Mint: The 1940-D DDO and the 1940-D/D repunched mint mark.

1940-D DDO Washington Quarter

Blank coin dies need multiple strikes from the master die to fully impress the design onto the die. The 1940-D DDO Washington Quarter (Doubled Die on Obverse) is a quarter where the obverse die moved slightly between strikes by the master die.

The die doubling on the 1940-D DDO is most prominent on the motto “In God We Trust” on the lower left of the coin.

1940 d quarter small

1940-D Doubled Die Obverse Washington Quarter. Graded MS66 by PCGS

1940 ddo quarter

Detail showing the die doubling in the motto “In God We Trust” on the 1940-D DDO Quarter.

AUCTION RECORD: $2,880 for MS-66 (2018 - Heritage)

Grade
Price
MS-61
$165
MS-62
$175
MS-63
$235
MS-64
$360
MS-65
$950
MS-66
$3,500

1940-D/D Washington Quarter

Mint marks on US coin dies were punched by hand until 1989! The 1940-D/D Washington Quarter repunched mint mark could almost be called a triple-punched mint mark. The detail photo below shows where the “D” hand die jumped completely off the intended mark and then had to be repunched over the original one to hide damage.

1940 rpm quarter

1940-D/D repunched mint mark detail (left) can be compared under magnification to a properly punched 1940-D mint mark.

AUCTION RECORD: $2,585 for MS-66 (2015 - Heritage)

Grade
Price
MS-61
$180
MS-62
$200
MS-63
$325
MS-64
$425
MS-65
$625
MS-66
$1,250

More About 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. (Anything that happens to them after they are ejected from the coining press is referred to as “post-mint damage.”) This means that each error coin is unique, even if they were subjected to the same type of malfunction.

Common error coins are

  • Cuds, where a piece of the die on the rim cracks and breaks off, letting the metal flow through to fill the gap.
  • Wrong Planchet errors, where the wrong coin blank is fed through the press. One example is a penny struck on a dime press. These errors can sometimes be worth far more than a variety coin.
  • Off-center strikes, where the coin blank is not completely fed into the press before it is stamped. Some off-center strikes can have deformed coin blanks and just a small portion of the coin design present. These drastic errors are popular and can be worth substantial money to the right collector.
  • Double Strikes, where the coin was not fully ejected from the coin press before the next strike. Double Strikes are the most attractive coin error and command prices to match.

  • Read more about collecting coins and coin values from Gainesville Coins' experts:

    Collector Resources for Understanding the Hobby of Collecting Coins

    Rare State Quarters Worth Money: Check Your Pocket Change!

    Booker T. Washington Half Dollar Values

    Top 50 Most Valuable Nickels

    1909 VDB Penny Value, Errors, and Varieties

    1905 Indian Head Penny Values, Errors, and Rarities

    2009 Lincoln Penny Bicentennial Cents: Value, Errors, and Designs

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    Steven Cochran

    Steven Cochran

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