1940 Quarter Value: Types, Errors, and Rarities

A 1940 Washington quarter can be a real hidden gem. These coins, if they're in mint condition, can start at $20 and easily go over a hundred. And get this: the really pristine ones can even hit the five-figure mark. That's some serious cash!

But it's not just about their collectible value. These quarters actually have a silver melt value of about $5 today, which is way more than their original 25 cents. Pretty cool, right? And this goes for all silver quarters made before 1965.

Now, let's dig into the exciting details of the 1940 quarter. We'll talk about the different types, notable errors, and those super rare finds. Get ready for some fascinating stuff!

    1940 Quarter Value and Types

A 1940 Washington quarter's worth is based on its condition:

• Circulated

As of May 2024, the NGC Price Guide estimates that the value of a circulated 1940 Washington Quarter ranges from $8 to $22.50.

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• Uncirculated

Coins from the 1940s are collectible, and even the lowest collectible-grade coins will fetch respectable prices. Circulated pieces typically range in price from $9.40 to $16. Specimens that have never been in circulation range in price from $20 to $260. Though they cost a lot more, MS 68 grade quarters are also available for purchase. At auction, these coins fetch an astounding $5,760 to $8,750. The low quantity of exceptionally preserved quarters, in spite of the large mintage of 35,704,000 pieces, accounts for their exceptional value.

Remarkably, a 1940 MS 68 Washington CAC quarter that was up for auction at Heritage Auctions in 2013 delighted a collector. As a result, they bought it without hesitation for $19,975.

Since only 11,246 proof quarters were produced in 1940, they can be regarded as rare. Nonetheless, the majority are frequently offered in all grades and are in superb condition.

Their price range is extraordinarily broad, though. Better graded pieces (PR 66 and PR 67) are available for $165 to $400, whereas those ranked from PR 60 to PR 65 cost roughly $60 to $150.

The 1940 PR 68 quarter is estimated to be worth between $3,800 and $5,000, but one of these specimens sold for more. On September 1, 2008, one of the most devoted collectors put aside $8,625 for it.

In 1940, the Denver mint produced the fewest quarters, with 2,797,600 struck. On the reverse of each coin, the letter D is located beneath the wreath.

These coins are still more costly than their face value even though they had little mintage. For example, lower grade 1940 D Washington quarters cost $8 to $54 in circulated condition, while AU condition quarters are valued between $67 and $78.

The cost of uncirculated specimens varies based on their quality. For pieces rated MS 60 to MS 66, you should budget approximately $140 to $450, while the most attractive pieces rated MS 67 quickly reach $550 to $750.

The 1940 quarter, graded MS 68, is especially surprising. This rare coin was paid $17,500 on eBay in 2022.

8,244,000 quarters were produced by the San Francisco Mint in 1940, and many of these beautiful coins are still in circulation in various grades. You can expect to pay between $9.4 and $20 for one of the circulated specimens, as their condition sets their price.

Even mint-state coins are not that expensive, especially the lowest-quality ones. In any event, if you intend to add one of them to your collection, budget between $26 and $450.

Conversely, the most highly rated San Francisco quarters (MS 68) are estimated to be worth between $8,000 and $13,000. The highest-priced item ever sold at auction brought in $10,200. The 2021 purchase was arranged at Stack's Bowers.

    Rare 1940 Washington Quarter Errors List

Since these coins were struck just before the Second World War, many of them will have imperfections in their strikes. These unusually shaped specimens are essentially for sale, and the cost of each 1940 quarter is determined by its rarity and state of preservation.

• 1940 Quarter Doubled Die Obverse

Quarters from all three mints that produced these coins in 1940 have DDO errors on them. They have a doubling on the design, especially on the lettering and the date, due to an imperfect die.

These coins usually cost between $70 and $800, but keep in mind that more doubling usually results in more money. The 1940 D MS 66 quarter is the priciest of these pieces. On February 22, 2018, it was offered at Heritage Auctions and sold for $2,880.

Year	Mint Location	Quantity Produced	Error Type	Price Range	Most Expensive Auction Price
1940	All Mints	-	DDO	$70- $800
1940	Denver Mint	-	DDO	$70- $800	$2880

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• 1940 Quarter Re-Punched Mint Mark

The 1940 Washington quarters that had the mint mark error that was repunched were valued between $20 and $400. The quality and doubling type of the coins determine the exact price.

This error is caused by the double strike at the mint mark. It showed up when the initial try failed, or the letter was struck in the incorrect location or position.

Year	Mint Location	Error Type	Price Range	Most Expensive Auction Price
1940	All Mints	Re-punched Mint mark (RPM)	$20- $400
1940	Denver Mints	Re-punched Mint mark (RPM)	$20- $400	$2,585

    Grading the 1940 Washington Quarter

Coins as old as the 1940 Washington Quarter are rarely in good condition and are rarely guaranteed to be in good condition. The ongoing struggle for collectors is to sort through coins in search of the best-preserved specimens. Collectors will do whatever it takes to locate the ideal piece to add to their collection, poring over the faces.

A professional grading company typically evaluates the condition of a Washington Quarter, carefully assigning grades based on the piece's overall condition. Since we are aware that not everyone has the resources to grade coins, we have included a summary of their qualities below.

• Uncirculated

The few coins that were produced and then promptly stored away are graded with this designation. These coins have all of the original texture and imagery, giving the impression that they were just minted. Since these coins are sometimes very hard to find, collectors seize the chance to buy them.

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• Extremely Fine

A coin with an Extremely Fine grade was only in circulation for a brief period of time. Because these coins were only in circulation for a brief period of time, they have maintained their quality and seem to resemble uncirculated editions. However, upon close examination, a few minor flaws will become apparent.

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• Fine

There will come a time when many of these Washington Quarters will be graded Fine, even though the majority are not graded in this condition. Fine essentially indicates that, despite being in circulation for a while, the coin did not sustain significant damage during that time. Overall, the condition of these coins is respectable.

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• Good

A grade of good indicates that the coin in question was circulated fairly widely. These coins will have noticeable wear and occasionally significant damage. All in all, these reasonably priced items will be greatly appreciated by those wishing to assemble a comprehensive collection.