That 1948 quarter sitting in your change jar might be worth more than 25 cents. While most circulated examples trade near their silver melt value of around $9.50 to $10, certain mint marks and errors can push values into the thousands. The key is knowing what to look for—from subtle repunched mint marks to pristine uncirculated grades that collectors actively seek.

Understanding the 1948 Washington Quarter Basics

The 1948 Washington quarter contains 90% silver and 10% copper, weighing 6.25 grams with a diameter of 24.3 millimeters. Three United States Mint facilities produced these coins: Philadelphia (no mint mark), Denver (D), and San Francisco (S). The mint mark appears on the reverse side, directly below the olive branches.

Total mintage across all three facilities exceeded 51 million coins. Philadelphia struck 35,196,000 quarters, Denver produced 16,766,800, and San Francisco minted 15,960,000. Despite these high production numbers, finding examples in exceptional condition remains challenging due to decades of circulation.

The coin’s silver content alone provides a baseline value. At current precious metal prices, the intrinsic melt value hovers between $9.50 and $10 regardless of mint mark. This creates a floor price for even heavily worn specimens, though numismatic premiums quickly exceed melt value for better-preserved coins.

Value Breakdown by Mint Mark and Grade

Each mint facility’s output carries different collector premiums based on condition and scarcity in high grades.

Philadelphia (No Mint Mark)

Circulated 1948 quarters from Philadelphia trade at $9.50 to $10 in worn conditions from Good-4 through Very Fine-20. Once you reach Extremely Fine-40, expect $12 to $15. About Uncirculated specimens (AU-50 to AU-58) command $18 to $25.

Uncirculated grades see significant jumps. MS-60 to MS-63 examples sell for $30 to $45. MS-64 coins bring $60 to $85 at auction. The real premium appears at MS-65, where prices reach $150 to $200. Gem quality MS-66 specimens have sold for $400 to $600 at Heritage Auctions. The finest known MS-67 example achieved $1,920 in a 2022 sale.

Denver (D Mint Mark)

Denver quarters follow similar pricing in lower grades. Circulated pieces trade at $9.50 to $10, with Extremely Fine examples at $12 to $16. About Uncirculated grades reach $20 to $28.

Mint State Denver quarters show modest premiums over Philadelphia strikes. MS-60 to MS-63 range from $35 to $50. MS-64 examples sell for $70 to $95. MS-65 specimens command $175 to $225. At MS-66, expect $450 to $700. The population of MS-67 Denver quarters remains extremely limited, with auction records showing $2,100 to $2,500 for these rarities.

San Francisco (S Mint Mark)

San Francisco quarters match other mints in circulated grades at $9.50 to $10. Extremely Fine pieces bring $13 to $17, while About Uncirculated examples fetch $22 to $30.

The San Francisco mint produced the fewest 1948 quarters, creating slight premiums in Mint State. MS-60 to MS-63 coins sell for $40 to $55. MS-64 examples reach $80 to $110. MS-65 specimens command $200 to $250. MS-66 grades have sold for $500 to $850 at major auctions. MS-67 examples are exceptionally rare, with prices exceeding $3,000 when they appear.

The Valuable 1948-S/S Repunched Mint Mark

The most significant error variety from 1948 is the S/S repunched mint mark, found exclusively on San Francisco quarters. This error occurred when mint workers punched the “S” mint mark into the die, then punched it again in a slightly different position, creating a doubled appearance.

Several distinct repunched mint mark varieties exist for 1948-S quarters, cataloged by numismatic services as RPM-001 through RPM-004. The most dramatic variety shows clear doubling to the north and west, visible with 5x magnification. Lesser varieties display subtle secondary impressions requiring 10x or greater magnification.

A circulated 1948-S/S RPM in Very Fine condition typically sells for $150 to $300. Extremely Fine examples bring $400 to $650. About Uncirculated specimens command $800 to $1,200. In Mint State, these errors become serious investments. MS-63 examples sell for $1,500 to $2,200. MS-64 specimens reach $2,500 to $3,500.

The most valuable 1948-S/S repunched mint mark quarter sold at a Stack’s Bowers auction in 2021 graded MS-65, achieving $4,800. Industry experts suggest that an MS-66 specimen, should one surface for grading, could exceed $8,000 based on comparable Washington quarter error premiums.

Authentication is critical for repunched mint marks. Several counterfeit examples have appeared in the market, created by mechanically doubling the mint mark after striking. Genuine repunched mint marks show the doubling integrated into the coin’s surface at the same depth as the primary mint mark. Submit suspected varieties to PCGS or NGC for authentication before making significant purchases.

Other Error Varieties Worth Checking

Beyond repunched mint marks, several other errors appear on 1948 quarters, though most carry modest premiums.

Doubled Die Errors

Minor doubled die obverse varieties exist showing slight doubling on “LIBERTY” or the date. These varieties, cataloged as DDO-001 and DDO-002, add $15 to $40 in circulated grades and $50 to $100 in Mint State. Doubled die reverse errors affecting “UNITED STATES OF AMERICA” are known but considered minor, adding minimal value.

Major doubled dies comparable to famous varieties from other years have not been documented for 1948 quarters. The doubling present remains too subtle to generate significant collector demand.

Off-Center Strikes

Off-center errors occur when the planchet (blank coin) isn’t properly centered in the striking press. A 1948 quarter struck 5% to 10% off-center with a full date visible sells for $75 to $150. Examples 15% to 25% off-center bring $200 to $400. Dramatic 50% off-center strikes with full dates have achieved $800 to $1,200 at auction.

The key factor is date visibility. Off-center strikes missing the date area trade at significant discounts, typically $30 to $75 regardless of how dramatic the misalignment appears.

Clipped Planchets

Clipped planchet errors happen when the coin blank is punched from metal strip that overlapped a previous punch, creating a missing segment. Straight clips removing 5% to 10% of the planchet add $40 to $80. Curved clips of similar size bring $50 to $100. Large clips removing 20% or more can reach $150 to $250.

Die Cracks and Cuds

Die cracks appear as raised lines on finished coins, created by cracks in the die. Minor die cracks add $5 to $15. Major die cracks spanning significant portions of the design bring $25 to $60. Die cuds—where a piece of the die broke away, creating a raised blob on the coin—sell for $75 to $200 depending on size and location.

Struck Through Errors

These errors occur when foreign material sits on the planchet during striking. Struck through grease errors create weak or missing design elements, adding $20 to $50. Struck through cloth or wire fragments can bring $100 to $300 for dramatic examples.

Authentication and Grading Considerations

Determining the precise grade of your 1948 quarter directly impacts its value. The difference between MS-64 and MS-65 can mean hundreds of dollars.

Third-party grading services provide professional authentication and grading. The two major services are Professional Coin Grading Service (PCGS) and Numismatic Guaranty Company (NGC). Both use the Sheldon 1-70 scale, where 1 represents barely identifiable and 70 indicates perfect condition.

Submission costs typically range from $20 to $50 per coin for standard service, with faster turnaround times costing more. This investment makes sense for coins you suspect grade MS-64 or higher, or for any suspected error varieties. For common circulated examples worth $10 to $20, professional grading costs exceed the coin’s value.

Key grading factors include strike quality, luster, contact marks, and eye appeal. The 1948 quarters often show weak strikes on the high points—Washington’s hair details and the eagle’s breast feathers. Well-struck examples command premiums within each grade level.

Luster refers to the coin’s original mint shine. Uncirculated coins should display vibrant, frosty luster. Cleaned or improperly stored coins lose this characteristic and receive lower grades or “details” designations indicating problems.

Contact marks are small nicks and scratches from coins hitting each other. Prime focal areas—Washington’s cheek and the fields in front of his face—are examined most critically. Even a single distracting mark in these areas can prevent a coin from achieving MS-65 or higher.

Smart Strategies for Selling or Buying

If you’ve identified a potentially valuable 1948 quarter, several selling venues exist with different advantages.

Local coin dealers offer immediate payment and no shipping hassles. Expect offers at 60% to 80% of retail value for common Mint State coins, as dealers need profit margin. For rare varieties or high-grade specimens, dealers might offer 70% to 90% of market value, or suggest consignment to auction for a percentage fee.

Online marketplaces like eBay provide access to thousands of potential buyers. Successfully sold listings for 1948 quarters in various grades provide realistic pricing data. Factor in selling fees (typically 12% to 15% with payment processing) and shipping costs. Only coins valued above $50 justify the time investment for private online sales.

Major auction houses like Heritage Auctions, Stack’s Bowers, and Great Collections specialize in numismatic material. They’re ideal for coins valued above $500, especially rare varieties or exceptional grades. Auction houses charge seller fees of 10% to 20% but reach serious collectors willing to pay premium prices. Consignment minimums typically start at $500 to $1,000 total lot value.

When buying 1948 quarters, verify the seller’s reputation and return policy. For raw (ungraded) coins advertised as Mint State, request high-resolution images of both sides. Artificial toning, cleaning, and environmental damage significantly impact value but may not appear in standard photos.

Purchase certified coins when spending over $100. The PCGS and NGC population reports show how many examples exist at each grade level, helping you assess rarity and fair pricing. A 1948-S quarter in MS-66 might seem expensive at $700, but population reports showing only 15 certified examples at that grade justify the premium.

Checking Your 1948 Quarter Right Now

Start by examining the reverse below the olive branches for the mint mark. No letter indicates Philadelphia, “D” means Denver, and “S” identifies San Francisco. Use a magnifying glass—even a 5x or 10x jeweler’s loupe available for under $15 provides sufficient magnification.

For San Francisco quarters, inspect the “S” mint mark carefully for any doubling or secondary impressions. Compare your coin to high-resolution images of authenticated 1948-S/S varieties available through PCGS CoinFacts or NGC’s website. Genuine repunched mint marks show clear secondary impressions, not mere die scratches or damage.

Assess the overall condition honestly. Circulated coins show wear on the high points—Washington’s hair, cheekbone, and the eagle’s breast and legs. Uncirculated coins display no wear under magnification, though they may have contact marks from coin bag handling. Coins with original luster and minimal marks warrant professional grading consideration.

Check eBay’s sold listings for comparable 1948 quarters. Filter by “sold items” and match your coin’s mint mark and approximate condition to recent sales. This provides realistic current market values. Dealer websites like APMEX and JM Bullion list retail prices, typically 20% to 40% above actual selling prices for common dates.

For any coin you believe exceeds $100 in value, photograph both sides in good lighting and post to coin collecting forums like the PCGS or NGC community boards. Experienced collectors can provide preliminary assessments and guidance on whether professional grading makes financial sense.

Your 1948 quarter connects you to post-war American history, struck when the nation transitioned from wartime production to peacetime prosperity. Whether it’s worth its silver content or commands a premium for exceptional quality or rare errors, knowing its true value ensures you make informed decisions about this small piece of numismatic history.