One of the most popular United States coin series is the Washington quarter, first issued in 1932 and continuing today with a modified design. Initially issued as a commemorative coin honoring the 200th birthday of George Washington's birthday, the Washington quarter quickly became a regular-issue coin and a workhorse of the American economy.
Most 1932 Washington quarters were struck without a mintmark at the Philadelphia Mint, with 5,404,000 produced there. Meanwhile, just 436,800 were struck at the Denver Mint and a mere 408,000 rolled out of the San Francisco Mint. The 1932-D and 1932-S Washington quarters serve as the lowest-mintage regular issues in the series and are sought-after key dates.
Both coins sell for about $100 apiece in the lower circulated grades and are roughly equal in scarceness in worn condition. However, the 1932-D is decidedly tougher in uncirculated grades than its higher-mintage S-mint counterpart and tops four figures in grades of Mint State-60 or better. Meanwhile, the 1932-S is a bit more (relatively) affordable in the uncirculated grades, costing only $500 and up in Mint State-60. Both coins are rare in the Gem grades of Mint State-65 and above and are considered among the most important rarities of the 20th century.