Precious Quarters

[Desiderato Merriwether]

TheU.S. Mint produces precious metal coins for collectors and investors in gold, silver, platinum, and palladium. Proof and uncirculated coins are collected for their limited mintage numbers, while bullion coins offer a way to invest in precious metals.

A bullion coin is a coin that is valued by its weight in a specific precious metal. The U.S. government guarantees its weight, content, and purity. Unlike commemorative or numismatic coins valued by limited mintage, rarity, condition, or age, investors purchase bullion coins seeking a simple way to own and invest in the gold, silver, platinum, and palladium markets.

The value of quarters depends on various factors such as their rarity, condition, and demand among collectors. Generally, older quarters from before 1965, which were made of 90% silver, tend to have a higher value due to the silver content. Quarters from specific years that have unique designs or errors may also be worth more to collectors. The United States Mint provides a list of precious metal quarters that includes the silver coin and the 50 state quarters series.

The 1965 quarter is considered rare because of a change in the composition of the quarter that took place that year. Prior to 1965, quarters were made of 90% silver, but due to rising silver prices, the U.S. Mint decided to switch to a less valuable composition of 75% copper and 25% nickel. As a result, very few 1965 quarters were minted with the 90% silver content, making them rare and sought after by collectors.

The 1970 quarter that is worth $35,000 is a rare and valuable error coin known as the 1970-S Proof Washington Quarter. It is highly sought after by collectors due to its low mintage and unique characteristics.

Before you head to the laundromat, you should look through the quarters you plan to spend. You may have a rare coin better suited to be auctioned off or artfully displayed than used to wash your clothes. Taking that extra second could help you get rich.

When it comes to value, coin condition is critical. Collectors love to see coins in mint or uncirculated state, designated by the abbreviation MS. Mint state coins can be graded from 60 to 70, with 70 being perfect.

While perfect quarters can fetch a tidy sum at auction, coins with errors can also be valuable because few usually exist. So, for example, if you have a coin with an image that has been double-struck due to the die slipping, you should get it appraised!

Over the years, the 1999 Spitting Horse Delaware quarter has proven more common than initially thought. Interest in this coin has also waned some, dragging prices downward. But this fascinating variety still fetches $10 to $20.

The 2004-D Extra Leaf Wisconsin quarter offers not just one but two bizarre varieties. They are bizarre because these two varieties show two different forms of an extra leaf. Some numismatists speculate the extra leaf varieties may have been more an intentional addition rather than something of an accidental origin, such as a die break.

On the Extra High Leaf variety, a slender leaf appears near the top of the cheese wheel and terminates into the corn stalk's much larger main left leaf. On the Extras Low Leaf, the addition arcs across the top of the cheese wheel, with both ends disappearing behind it.

The 2005-P Minnesota quarters left their mark in the world of error and variety coin collecting. More than 60 varieties of doubled die stem from this single issue. They generally involve the appearance of an extra spruce tree(s) on the reverse of this coin, honoring the state nicknamed the Land of 10,000 Lakes.

Values for the 2005-P Minnesota quarter vary markedly from one to the next. The most drastic and visible of the doubled dies trading for between $50 and $100. The more obscure doubled dies for this issue see lower coin values ranging from $5 to $25, depending on the magnitude of the doubled die and the physical condition of the coin.

Technically the 2009 District of Columbia quarter belongs to the six-coin Washington D.C. & U.S. Territories Quarters program. In 2009 it proceeded the 50 State Quarters program running from 1999 through 2008. The set included Puerto Rico, Guam, and other territories. Some of these coins were released by the United States Mint in special silver proof sets.

However, this one-year-only set of commemorative quarters is often collected alongside the classic state quarter series and thus sees an entry included here. The 2009 District of Columbia quarter features jazz composer and pianist Duke Ellington, seen on the quarter's reverse.

The 2009-D District of Columbia doubled die quarters gained significant traction in the hobby. Many collectors found the coin in circulation and included it in sets of state quarters. When these 2009-D District of Columbia doubled dies first emerged in spring 2009, they were selling for many hundreds of dollars. Today, circulated examples tend to trade for closer to $75.

The Pennsylvania state quarter was the second design released in the series in 1999. The coin's mintage of only 804,565 is exceptionally low compared to the hundreds of millions of circulation strikes that were made. Inscriptions on the design emphasize the values of "VIRTUE, LIBERTY, INDEPENDENCE." Remembering that Philadelphia was actually the original capital of early America, these themes seem all the more appropriate.

Not only is this one of the more elegant designs among the State Quarters, but it also is made from 90% pure silver. The reflective surfaces of the proof finish help the relief portion of the design to stand out, as well. These coins generally sell for $35 and up.

While the first four coins on this list were all rare error coins, the last two are proof coins made specifically for collectors. Proofs are special pieces that are struck multiple times for the sharpest details possible. The fields of proof coins are also specially polished, producing an eye-appealing mirrored effect. The raised devices on the coin, called the relief, are given a frosted finish that further enhances the beauty of the coin.

The New Jersey State Quarter design is another favorite. It depicts the famous scene of George Washington (then General Washington) leading a group of revolutionary soldiers across the Delaware River. The classic symbolism is a favorite among collectors in the U.S. Keep in mind that the grading standard for proof coins is harsher than circulating coins. Examples of this silver coin trade for about $30 in flawless condition.

Every coin worth money on this list is a state quarter error coin. Unlike silver dollars or other old coins, each of the 50 State Quarters features an unique design. Their common obverse shows George Washington, technically making them all Washington quarters.

Joshua McMorrow-Hernandez is a journalist, editor, and blogger who has won multiple awards from the Numismatic Literary Guild. He has also authored numerous books, including works profiling the history of the United States Mint and United States coinage.

Paper currency sold for any purpose other than legal tender is a sale of tangible personal property. The sale is subject to either wholesaling or retailing business and occupation (B&O) tax. When retailing B&O tax applies, retail sales tax also applies on the gross selling price, including the face value.

Gross income from sales of precious metal bullion (gold bars, processed nuggets, etc.) and monetized bullion (coins, etc.) is generally exempt from tax. An exemption applies even if the bullion is sold for more than face value.

However, sales of bullion for manufactured items such as jewelry or works of art are subject to either wholesaling or retailing business and occupation (B&O) tax, depending on the nature of the sale. Sales subject to retailing B&O tax are also subject to retail sales tax.

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The Brasher Doubloon was made by Ephraim Brasher, a New York City goldsmith and silversmith, in the late 18th Century. The front of the coin shows a state seal with a rising sun, while the reverse shows the American eagle with a shield. The coin is already rare, but certain versions of it have fetched a variety of prices, depending on their specific characteristics.

Zivi suggests you could buy a Fugio cent for a few hundred dollars, making it relatively accessible for a coin with such an interesting history. Coins in better condition may go for a few thousand dollars and perhaps as high as $10,000, while extremely rare variants may sell for tens of thousands.

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