The Washington Quarter, first introduced in 1932 to commemorate the 200th anniversary of George Washington’s birth, is one of the most iconic coins in American numismatics. While the original quarters were struck in 90% silver, a significant shift occurred in 1965 when the U.S. Mint transitioned to a copper-nickel clad composition due to rising silver prices. This article delves into the history of the clad Washington Quarter from 1965 to 1998, its design, production, varieties, and value in today’s market, offering insights for collectors and enthusiasts alike.
Historical Context: The Shift to Clad Coinage
By the early 1960s, the rising price of silver created a crisis for U.S. coinage. The intrinsic value of silver coins began to exceed their face value, leading to hoarding and a shortage of circulating coins. In response, Congress passed the Coinage Act of 1965, signed into law by President Lyndon B. Johnson on July 23, 1965. This legislation eliminated silver from dimes and quarters and reduced the silver content in half dollars to 40%. The new quarters, known as clad quarters, featured a core of pure copper sandwiched between outer layers of 75% copper and 25% nickel, giving them a silvery appearance despite the absence of precious metal.
The transition began on August 23, 1965, with the first clad Washington Quarters entering circulation in November of that year. To manage the changeover, the Mint produced both silver (dated 1964) and clad (dated 1965) quarters simultaneously for a brief period. This overlap led to rare transitional errors, where some 1965 quarters were mistakenly struck on 90% silver planchets, creating highly sought-after collectibles.
Design and Specifications
The clad Washington Quarter retained the original design by sculptor John Flanagan, introduced in 1932. The obverse features a left-facing portrait of George Washington, with “LIBERTY” above, “IN GOD WE TRUST” to the left, and the date below. The reverse showcases an eagle with outstretched wings perched on a bundle of arrows, framed by olive branches, with “UNITED STATES OF AMERICA” and “QUARTER DOLLAR” inscribed. The clad quarters have a diameter of 24.26 mm, a thickness of 1.75 mm, and a weight of 5.67 grams, compared to 6.25 grams for their silver predecessors.
From 1965 to 1967, the Mint omitted mint marks to discourage hoarding, making it impossible to identify the production facility (Philadelphia, Denver, or San Francisco) for these years. Mint marks returned in 1968, appearing on the obverse behind Washington’s head, next to the ribbon in his ponytail. The Mint also produced Special Mint Sets (SMS) from 1965 to 1967 in lieu of proof sets, featuring coins with a satin finish.
The Bicentennial Interlude (1975-1976)
In 1975 and 1976, the Mint paused the standard Heraldic Eagle reverse to issue Bicentennial Quarters celebrating the 200th anniversary of American independence. These coins, dated 1776-1976, featured a dual-date obverse and a reverse designed by Jack Ahr depicting a colonial drummer boy. Over one billion clad Bicentennial Quarters were struck, alongside a smaller number of 40% silver versions for collectors. The Bicentennial design was well-received and remains a classic in the series. The standard Flanagan reverse resumed in 1977 and continued until 1998, when the 50 State Quarters Program began.
Production and Mintage
The clad Washington Quarter was produced in vast quantities, with a total mintage of over 35.8 billion clad coins from 1965 to 1998 across the Philadelphia, Denver, and San Francisco mints. The high mintage and durability of the clad composition mean that most dates and mint marks are common in circulated condition. Below is a table summarizing key mintage figures for select years, highlighting the scale of production and notable varieties:
|
Year |
Philadelphia (No Mint Mark or P) |
Denver (D) |
San Francisco (S, Proof/SMS) |
Notes |
|---|---|---|---|---|
| 1965 | 1,819,717,540 |
Not reported |
2,360,000 (SMS) |
First clad quarter, no mint marks |
| 1968 | 220,731,500 | 101,534,000 |
3,041,506 (Proof) |
Mint marks return |
| 1976 | 809,784,016 | 860,118,839 |
7,059,099 (Proof, clad) |
Bicentennial design |
| 1983 | 673,535,000 | 617,806,446 |
3,279,126 (Proof) |
Scarce in high grades (no mint sets) |
| 1998 | 896,268,000 | 821,000,000 |
2,086,507 (Proof, clad) |
Last year of Flanagan design |
Note: Mintage figures are sourced from CoinWeek and Wikipedia.
Value and Collectibility
Circulated and Common Grades
Most clad Washington Quarters from 1965 to 1998 are worth their face value (25 cents) in circulated condition due to their high mintage and widespread availability. Even uncirculated coins in lower grades (MS60-MS64) typically fetch only a small premium, often $1-$5, as they remain plentiful. However, coins in high Mint State grades (MS65 and above) or with specific errors can command significantly higher prices.
High-Grade and Proof Coins
High-grade examples, particularly in MS66 and MS67, are scarcer and more valuable. For instance, a 1965 Washington Quarter in MS67 is considered rare, with fewer than 50 known examples, valued at $1,000 or more. Proof coins, especially deep cameo versions from 1965 to 1971 and 1981 Type 2, are highly prized due to their rarity and reflective fields. These can range from $50 to several hundred dollars depending on condition.
Transitional Errors and Varieties
The most valuable clad Washington Quarters are those with transitional errors, particularly 1965 quarters struck on 90% silver planchets. These errors occurred when leftover silver planchets from 1964 were accidentally used, resulting in coins weighing 6.25 grams instead of 5.67 grams. Such coins are rare, with only a dozen or so documented, and have sold at auction for $7,000 to $14,687.50. Other errors, such as doubled dies (notably on the 1965 obverse in “IN GOD WE TRUST” or “LIBERTY”) or off-center strikes, also add significant value, ranging from $100 to $5,000 depending on the error’s severity.
To identify a silver error quarter, check the edge for a solid silver-gray color (clad coins show a reddish-orange copper band) and weigh the coin on a calibrated scale (6.25 grams for silver vs. 5.67 grams for clad). Professional grading by services like PCGS or NGC is recommended for authentication.
Key Dates and Varieties
While no true rarities exist in the clad series, certain years stand out due to scarcity in high grades or unique circumstances:
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1965: First clad quarter, valuable in MS67 ($1,000+) and as silver errors ($7,000+).
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1982-1983: No mint sets were produced, making Mint State examples harder to find. MS67 coins from these years can exceed $1,000.
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1983-P Ghost Coin: A term used by some collectors for the 1983-P quarter due to its scarcity in high grades, potentially worth $50-$500 in MS65+.
Collecting Trends
The clad Washington Quarter series is an excellent starting point for new collectors due to its affordability and availability. Many collectors aim to assemble a complete set by date and mint mark, requiring 147 coins (excluding Bicentennial and silver Proofs). The introduction of the 50 State Quarters Program in 1999 sparked renewed interest in quarter collecting, with an estimated 160 million people attempting to collect State Quarters, indirectly boosting interest in earlier clad quarters.
Market Dynamics and Investment Potential
The value of clad Washington Quarters is driven by condition, rarity, and collector demand. While most are common, the scarcity of high-grade examples and errors creates opportunities for arbitrage, as specialists submit coins in bulk to grading services to capitalize on premium prices. However, collectors should be cautious, as prices for conditionally rare modern coins can decline as more are graded. For example, a 1965 quarter in MS68 sold for $1,300 in 2020, but such high-grade specimens are rare, with NGC reporting only nine in MS68.
Proof coins, particularly from the San Francisco Mint, are less likely to enter circulation and are primarily collected in sets. The clad Proof mintage from 1965 to 1998 totals over 87 million, but high-grade examples (PR69 or PR70) with deep cameo contrast are valued for their aesthetic appeal.
Tips for Collectors
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Focus on Quality: Seek coins in MS65 or higher for investment potential, as lower grades are too common to hold significant value.
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Hunt for Errors: Check pocket change or rolls for silver errors or doubled dies, especially for 1965 quarters.
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Use Grading Services: Authenticate potential errors or high-grade coins through PCGS or NGC to ensure value and authenticity.
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Explore Special Mint Sets: SMS coins from 1965-1967 offer a unique collecting niche with their satin finish.
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Stay Informed: Follow auction results and numismatic publications like CoinWeek for market trends and new discoveries.
Looking Ahead
The clad Washington Quarter (1965-1998) represents a pivotal era in U.S. coinage, reflecting economic changes and evolving minting practices. While most are common and worth face value, high-grade examples, proof coins, and rare errors like the 1965 silver quarter offer significant value and intrigue. For collectors, the series combines accessibility with the thrill of chasing scarce varieties, making it a rewarding pursuit. Whether you’re a beginner assembling a circulated set or an advanced collector seeking transitional errors, the clad Washington Quarter offers a rich tapestry of history and opportunity.
