As a long-time coin collector and silver enthusiast, I‘ve always had a special fascination with the 1945 Washington quarter. Minted during the momentous final year of World War II, this 90% silver coin represents a pivotal era in American history while also offering tangible precious metal value. Whether you‘re a seasoned numismatist or a curious newcomer to the hobby, understanding the key attributes, rarities, and market trends of the 1945 quarter is essential for building a top-notch collection.
In this comprehensive guide, we‘ll take a deep dive into the historical context, mintage figures, condition rarities, design elements, and recent auction prices of the 1945 quarter. By the end, you‘ll have a solid foundation for appreciating and collecting this fascinating piece of American numismatic history. Let‘s get started!
The Historical Significance of 1945
To fully appreciate the 1945 quarter, it‘s important to understand the historical events that shaped that year. 1945 marked the end of World War II, with Germany surrendering in May and Japan following suit in August after the atomic bombings of Hiroshima and Nagasaki. The war‘s conclusion brought immense relief and celebration, but also profound changes to American society and the global order.
On the home front, the U.S. economy began shifting from wartime production to peacetime growth. Millions of servicemen and women returned home to start families, pursue education, and enter the workforce. The G.I. Bill, signed into law in 1944, provided benefits like low-cost mortgages, low-interest business loans, and tuition assistance, helping to fuel the post-war economic boom.
In the numismatic world, 1945 marked a key transition year for U.S. coinage. The wartime composition of the nickel, which used a 35% silver alloy to conserve nickel for the war effort, ended mid-year, resulting in two distinct varieties for 1945. The Mint also resumed striking bronze cents after using zinc-coated steel in 1943 to save copper for shell casings.
Against this backdrop of change and optimism, the 1945 Washington quarter entered circulation. While not a rare coin in absolute terms, with over 100 million minted across all three Mint facilities, it still holds a special place in the hearts of collectors as a symbol of a pivotal year in American history.
Mintage Figures and Rarity
The U.S. Mint struck Washington quarters at three facilities in 1945: Philadelphia (no mint mark), Denver (D mint mark), and San Francisco (S mint mark). Below is a breakdown of the mintage figures for each issue:
| Mint | Mintage |
|---|---|
| 1945 | 74,372,000 |
| 1945-D | 12,341,600 |
| 1945-S | 17,004,001 |
At first glance, these mintage numbers might suggest that the 1945 quarter is a common coin. While that‘s true for circulated grades, the story changes when we look at higher Mint State grades. Many 1945 quarters entered circulation and saw heavy use, making uncirculated examples scarcer than the overall production figures imply.
According to PCGS CoinFacts, here are the estimated surviving populations for each 1945 quarter issue in MS-65 or better condition:
| Mint | MS-65 or Better |
|---|---|
| 1945 | 9,750 |
| 1945-D | 2,000 |
| 1945-S | 3,100 |
As you can see, the Denver and San Francisco issues are notably scarcer in gem uncirculated condition compared to the Philadelphia issue. This relative rarity is reflected in the market values for high-grade examples, which we‘ll explore later in this guide.
John Flanagan‘s Iconic Washington Quarter Design
The Washington quarter series, which began in 1932 to commemorate the 200th anniversary of George Washington‘s birth, features an iconic design by sculptor John Flanagan. The obverse depicts a left-facing profile portrait of Washington, with the word LIBERTY above, the date below, and the motto IN GOD WE TRUST to the left.
Flanagan‘s reverse design showcases a majestic eagle with wings spread, perched on a bundle of arrows with two olive branches beneath. The inscriptions UNITED STATES OF AMERICA and E PLURIBUS UNUM appear above the eagle, while QUARTER DOLLAR is below.
The Washington quarter‘s design remained unchanged from 1932 to 1998, with the exception of moving the mint marks from the obverse to the reverse in 1968. This consistency in design adds to the series‘ collectibility and charm, as the 1945 quarter shares its aesthetic with over 60 years of other issues.
Eye Appeal and Toning
When it comes to collectible coins like the 1945 quarter, eye appeal plays a significant role in desirability and value. Eye appeal refers to the overall visual attractiveness of a coin, taking into account factors like luster, strike, surface preservation, and toning.
Toning, the natural coloration that forms on a coin‘s surface over time due to chemical reactions with the environment, is a particularly important aspect of eye appeal for silver coins like the 1945 quarter. Attractive toning in shades of blue, purple, gold, and green can significantly enhance a coin‘s value and desirability.
For example, a 1945-S quarter graded MS-67 by PCGS with beautiful rainbow toning sold for $7,200 in a 2020 auction by Stack‘s Bowers Galleries. In comparison, a similarly graded untoned example might sell for around $1,500 to $2,000.
Of course, toning is subjective and not all collectors prefer colorfully toned coins. Many purists seek out 1945 quarters with fully brilliant white surfaces, which can also command strong premiums in high grades. The key is to find coins that have strong eye appeal for their assigned grade, whether toned or bright.
Market Values and Auction Prices
To get a sense of the current market for 1945 quarters, let‘s take a look at some recent auction results for high-grade examples:
| Date | Grade | Grading Service | Auction Price | Auction House | Year |
|---|---|---|---|---|---|
| 1945 | MS-68 | PCGS | $20,400 | Heritage | 2021 |
| 1945-D | MS-68 | PCGS | $12,000 | Stack‘s Bowers | 2022 |
| 1945-S | MS-67+ | PCGS CAC | $7,800 | Legend | 2023 |
| 1945 | MS-67+ FT | PCGS CAC | $3,840 | Heritage | 2020 |
| 1945-D | MS-67 | PCGS | $2,640 | Stack‘s Bowers | 2021 |
| 1945-S | MS-67 | NGC | $1,560 | Heritage | 2022 |
As these results show, gem uncirculated 1945 quarters, especially those with CAC approval or the coveted "Full Torch" (FT) designation, can bring substantial sums at auction. However, these prices represent the upper echelon of the market. More affordable uncirculated examples can be found in the $100 to $500 range, depending on grade and eye appeal.
For circulated grades, 1945 quarters are generally valued near their melt value, which fluctuates with the spot price of silver. As of August 2024, with silver around $25 per ounce, a common date circulated 1945 quarter is worth about $4 to $5.
Tips for Cherrypicking
For collectors on a budget, one strategy for building a high-grade 1945 quarter set is to cherrypick attractive coins in lower grades. Cherrypicking involves searching through dealer inventories or online auctions for coins that appear to be undergraded or have exceptional eye appeal for their assigned grade.
When cherrypicking 1945 quarters, keep an eye out for these key factors:
- Mint mark – All else being equal, the Denver (D) and San Francisco (S) issues are scarcer and more valuable than the Philadelphia (no mint mark) issue in higher grades.
- Strike – Look for coins with full, sharp details in the hair, eagle‘s breast feathers, and lettering. Weakly struck coins are less desirable.
- Luster – Uncirculated 1945 quarters should have full, unbroken luster across the entire surface. Look for a cartwheel effect when tilting the coin under a light.
- Eye appeal – Seek out coins with attractive coloration, minimal marks or blemishes, and overall visual pop. Trust your eye and don‘t be afraid to pay a bit more for a coin that really stands out.
With patience and a keen eye, it‘s possible to assemble a high-quality 1945 quarter set without breaking the bank. Just be prepared to sift through many coins before finding those cherrypicking gems!
Proper Storage and Handling
To preserve the condition and value of your 1945 quarters, it‘s crucial to store and handle them properly. Uncirculated coins should be housed in archival-quality holders, such as those made by PCGS, NGC, or ANACS. These holders provide a tamper-evident, inert environment that protects the coin from damage and environmental factors.
When handling raw coins, always use cotton gloves or hold the coin by its edges to avoid transferring oils and dirt from your skin to the surface. Avoid cleaning or polishing coins, as this can permanently damage the delicate luster and toning. If a coin has PVC residue or other harmful debris, consult a professional conservator for safe removal.
Circulated 1945 quarters can be stored in albums, tubes, or flips, depending on your preference and budget. The key is to use materials that are free of PVC, sulfur, and other reactive compounds that can harm the coin over time. Look for products specifically designed for long-term coin storage, such as Intercept Shield bags or Saflips.
Watching the 1945 Quarter Market
Like any collectible market, the value of 1945 quarters can fluctuate over time based on factors like supply, demand, and overall economic conditions. As a collector, it‘s important to stay informed about market trends and auction results to make informed buying and selling decisions.
One useful tool for tracking the 1945 quarter market is the PCGS CoinFacts Coin Dealer Newsletter (CDN) Price Guide. This online resource provides regularly updated retail price estimates for each date, mint mark, and grade, based on a combination of auction data and dealer input. While not a guarantee of any particular coin‘s value, the CDN Price Guide can give you a general sense of where the market stands.
Another helpful resource is the PCGS and NGC population reports, which show the number of coins graded by each service in each grade and designation. By comparing population figures to prices realized at auction, you can get a sense of the relative rarity and demand for specific issues and grades.
For example, as of August 2024, PCGS has graded just 29 examples of the 1945-S quarter in MS-67+ condition, with none finer. This low population, combined with strong auction results for the few coins that have sold, suggests that demand for top-quality 1945-S quarters remains high among advanced collectors.
Building a Meaningful Collection
Ultimately, collecting 1945 quarters is about more than just acquiring rare and valuable coins. It‘s about connecting with a fascinating chapter in American history and numismatics, one that saw the end of a global war and the beginning of a new era of prosperity and growth.
As you build your collection, take the time to appreciate each coin‘s story and significance. Research the historical events and cultural trends of 1945, and imagine the journey each quarter has taken from the Mint to your collection. Consider specializing in a particular Mint mark or grade range, or seeking out coins with interesting toning patterns or die varieties.
Remember, too, that collecting is a personal journey. Don‘t feel pressured to chase the most expensive or rare coins if they‘re beyond your means or interest level. Focus on building a collection that brings you joy and fulfillment, whether that means a single high-grade gem or a complete set of circulated issues.
By approaching the 1945 quarter with a combination of knowledge, patience, and passion, you‘ll be well on your way to building a collection that stands the test of time. Happy collecting!
