The 1946 Washington quarter holds a special place in American numismatics as one of the first post-World War II coins struck at all three operating mints. With 90% silver content and several documented minting errors, these quarters can range from common circulated pieces worth around $10 to rare error varieties commanding nearly $1,000. Understanding the mint marks, grading standards, and specific error types is essential for collectors looking to determine the true value of their 1946 quarters.

Understanding the 1946 Washington Quarter Basics

The 1946 Washington quarter was produced at three United States Mint facilities: Philadelphia, Denver, and San Francisco. Each facility produced coins with distinct characteristics, and their respective production volumes directly impact current market values.

The mint mark location is critical for identification. On all 1946 quarters, you’ll find the mint mark on the reverse side, positioned directly below the eagle’s tail feathers. Philadelphia coins bear no mint mark, Denver coins display a “D,” and San Francisco pieces show an “S.” This small letter makes a significant difference in value, particularly for the San Francisco variety with its notably lower mintage of just 4.2 million coins.

The silver composition is another key factor. Each 1946 quarter contains 0.1808 troy ounces of pure silver, making even heavily worn examples worth more than face value based solely on their metal content. This intrinsic value establishes a price floor for all 1946 quarters regardless of condition.

Philadelphia Mint 1946 Quarters (No Mint Mark)

The Philadelphia Mint produced the highest quantity of 1946 quarters, making them the most commonly encountered variety. As of October 2025, the NGC Price Guide lists circulated examples between $9.75 and $12.25, reflecting both the silver content and modest collector premium.

The value spectrum for Philadelphia strikes varies dramatically based on condition:

1946 No Mint Mark Value Table:

The jump in value at higher mint state grades reflects the rarity of well-preserved examples. Most 1946 quarters entered circulation immediately after production, and finding examples without wear, contact marks, or toning proves challenging nearly 80 years later.

When examining Philadelphia quarters, inspect the surfaces under magnification for potential doubled die varieties, which significantly increase value beyond standard pricing.

Denver Mint 1946-D Quarters

Denver-produced quarters from 1946 carry a “D” mint mark and show similar baseline values to their Philadelphia counterparts. Standard circulated 1946-D quarters range from $9.50 to $12.00 according to NGC’s October 2025 pricing data.

However, the Denver Mint produced one of the most sought-after varieties of the year: the 1946-D/D Repunched Mint Mark, designated as FS-501 in the Fivaz-Stanton reference system. This error occurred when mint workers punched the “D” mint mark twice with slight misalignment, creating a visible doubling of the letter.

1946-D/D FS-501 Repunched Mint Mark Values:

Auction records from GreatCollections spanning the past 15 years show remarkable prices for this variety:

• MS-64 examples: $401 – $575
• MS-65 examples: $650 – $956

The repunching is most easily identified under 5x to 10x magnification. Look for a distinct separation or doubling within the “D” mint mark itself, appearing as a second impression slightly offset from the primary letter. Not all Denver quarters show this characteristic—the error occurred on a specific subset of dies used during production.

Standard mint state 1946-D quarters without the repunched mint mark follow pricing similar to Philadelphia examples, with MS-65 specimens valued between $70 and $110, and MS-67 coins reaching $400 to $650 at auction.

San Francisco Mint 1946-S Quarters

The San Francisco Mint struck only 4.2 million quarters in 1946—the lowest production figure among the three facilities that year. This scarcity creates premium pricing across all grade levels, making 1946-S quarters particularly desirable for collectors.

NGC Price Guide data from August 2023 shows circulated 1946-S quarters valued between $9.75 and $12.25, similar to other varieties at lower grades. The real premium emerges in mint state condition, where superior preservation combines with lower availability.

1946-S Value Highlights:

The MS-68 price point of $6,500 represents auction results for the finest known examples—coins with virtually perfect surfaces, full original luster, and exceptional eye appeal. Fewer than a dozen 1946-S quarters have achieved this grade across both major grading services (PCGS and NGC).

The San Francisco Mint also produced its own repunched mint mark variety: the 1946-S/S FS-501. This error mirrors the Denver variety, showing doubling in the “S” mint mark. Mint state examples command significant premiums, with PCGS-certified MS-66 specimens selling for over $100 on the secondary market. While less dramatic than the Denver version in terms of absolute price, the 1946-S/S still represents a meaningful premium over standard San Francisco quarters.

Documented Error Varieties and Their Values

Beyond repunched mint marks, 1946 quarters exhibit several other minting errors that appeal to variety collectors and error specialists.

Doubled Die Obverse (DDO) FS-101: This variety shows visible doubling on the coin’s front, most prominent in the date digits “4” and “6” and the word “LIBERTY.” Under magnification, you’ll observe a secondary impression offset from the primary design. A certified gem brilliant uncirculated example of the 1946 Doubled Die Obverse recently listed on eBay for approximately $198, demonstrating strong collector demand.

To identify this variety, examine the digits in the date with a loupe. The doubling appears as a slight shadow or spreading effect, creating thickness in the numbers that shouldn’t exist. The letters in “LIBERTY” may show similar characteristics, particularly the “B,” “E,” and “R.”

Doubled Die Reverse (DDR): Less common than obverse doubling, reverse die doubling on 1946 quarters typically affects the lettering in “UNITED STATES OF AMERICA.” These varieties command premiums over standard strikes but generally sell for less than comparable DDO examples due to their subtler appearance and reduced collector awareness.

Planchet Errors: Manufacturing flaws in the metal blanks (planchets) before striking create distinctive error coins. One documented example is a 1946-D quarter with a planchet flaw near the date area, listed by Black Mountain Coins for approximately $43. Planchet errors include:

• Clipped planchets (where part of the blank is missing before striking)
• Lamination errors (where the metal separates in layers)
• Off-center strikes (where the die doesn’t align properly with the planchet)

The value of planchet errors varies significantly based on the error’s dramatic nature and the coin’s overall condition. A severely clipped planchet on a mint state coin may fetch $50 to $150, while minor lamination issues on circulated pieces might add only $5 to $10 to base value.

Grading Considerations for Accurate Valuation

Understanding the Sheldon grading scale is essential for determining precise 1946 quarter values. The scale runs from Poor (P-1) to Perfect Mint State (MS-70), with specific grade designations carrying significant value implications.

For circulated 1946 quarters, the most common grades are:

• Good (G-4): Date and lettering visible but worn smooth; minimal design detail remains
• Fine (F-12): Moderate wear; major design elements clear but lacking fine detail
• Extremely Fine (EF-40): Light wear on highest points; most design detail intact

For uncirculated pieces, the mint state scale from MS-60 to MS-70 considers factors including:

• Contact marks and bag marks from handling
• Original luster retention
• Strike quality and detail sharpness
• Toning characteristics
• Eye appeal

Professional grading from PCGS or NGC costs $20 to $40 per coin for standard service but becomes worthwhile for pieces that might grade MS-65 or higher, where authentication and precise grading add value exceeding the service fee.

Current Market Trends and Selling Strategies

The market for 1946 Washington quarters remains stable with gradual appreciation driven by silver prices and steady collector demand. Online marketplaces like eBay, Heritage Auctions, and GreatCollections provide accessible venues for both buying and selling.

For common circulated examples, local coin shops offer immediate liquidity at prices tied to current silver spot values, typically paying 90% to 100% of melt value for well-worn pieces. For better-date varieties like the 1946-S or error coins, online auction platforms generally yield higher returns due to broader collector exposure.

Timing sales around silver price peaks can maximize returns on common-date pieces, while rare varieties like the 1946-D/D FS-501 command strong premiums regardless of precious metal fluctuations. Authentication through professional grading services becomes increasingly important for pieces valued above $100, as certification provides buyer confidence and typically results in higher realized prices.

Building relationships with reputable dealers and actively monitoring auction results helps sellers understand current market conditions and price expectations for specific varieties and grade levels.