Check your pocket change before spending those quarters. While most 1987 Washington quarters circulate at face value, certain specimens with specific mint marks or striking errors have sold for thousands of dollars at auction. Understanding which variations command premium prices could turn a routine coin roll hunt into a profitable discovery.

Understanding 1987 Quarter Mint Marks and Their Locations

The United States Mint produced Washington quarters at three facilities in 1987, each leaving a distinctive mint mark on the coins. Philadelphia quarters bear a “P” mark, Denver coins display a “D”, and San Francisco pieces show an “S”. You’ll find these small letters on the obverse (heads side) just to the right of George Washington’s ponytail ribbon.

Philadelphia struck 582,499,481 quarters in 1987, making them the most common variety. Denver produced 655,594,696 pieces, actually exceeding Philadelphia’s output that year. San Francisco minted 4,227,728 proof specimens exclusively for collectors. These production figures directly impact current market values, with higher mintage generally meaning lower premiums for typical examples.

The Philadelphia mint resumed adding “P” mint marks to quarters in 1980 after decades of leaving their coins unmarked. This makes 1987-P quarters part of a relatively modern tradition compared to other denominations that carried Philadelphia marks much earlier.

1987-P Quarter Values Across All Grades

Circulated 1987-P quarters in Good (G-4) through Extremely Fine (EF-40) condition remain at face value in most transactions. Local banks and retailers accept them without premium, and coin dealers rarely pay above 25 cents unless buying in bulk rolls.

The value proposition changes dramatically with uncirculated specimens. A 1987-P quarter graded MS-63 by Professional Coin Grading Service typically sells for $2 to $4. MS-65 examples command $8 to $15 at most numismatic dealers. The real separation occurs at MS-67, where pristine examples trade between $85 and $150.

At the absolute peak of condition census, MS-68 specimens have reached $12,000 at Heritage Auctions sales from 2021-2023. Only three 1987-P quarters have achieved MS-68 grade with PCGS certification as of their latest population report. No MS-69 or MS-70 specimens exist in major grading service databases.

1987-D Quarter Market Analysis

Denver quarters follow similar value patterns to Philadelphia issues in lower grades. Circulated pieces trade at face value, with MS-63 examples bringing $2 to $3 from most buyers. The slightly higher Denver mintage actually creates comparable pricing through MS-65 grade.

MS-66 specimens command $40 to $55, reflecting the challenge of finding well-preserved examples from either mint. Strike quality varies considerably with 1987-D quarters, as some show weakness on the eagle’s breast feathers or Washington’s hair details. Collectors seeking premium gem examples specifically avoid coins with these strike deficiencies.

The 1987-D quarter population thins dramatically above MS-66. Stack’s Bowers reported only 67 coins certified MS-67 by NGC and PCGS combined as of December 2023. These pristine examples sell between $110 and $175 depending on eye appeal and strike sharpness. Two MS-68 specimens have appeared at auction, with one realizing $15,500 at a 2022 Heritage sale.

Full strikes with complete feather definition and strong facial details command 20-30% premiums over weakly struck coins at identical grade levels. Serious variety collectors prioritize strike quality when building registry sets.

1987-S Proof Quarter Collector Premiums

San Francisco produced only proof quarters in 1987, striking them on specially prepared planchets with mirror-like fields and frosted design elements. The Mint sold these coins in annual proof sets rather than releasing them into circulation.

Proof-65 Deep Cameo specimens trade for $4 to $6, representing coins removed from original packaging with minor handling marks. PR-67 examples bring $8 to $12 at most dealers. The critical grade threshold sits at PR-69, where deep cameo specimens command $25 to $40 depending on contrast intensity.

Perfect PR-70 Deep Cameo quarters represent the pinnacle of 1987-S collecting. PCGS has certified 1,247 examples at this grade level, with typical market values ranging from $75 to $125. GreatCollections sold a particularly attractive PR-70DCAM specimen for $186 in January 2024, demonstrating premium pricing for coins with exceptional eye appeal.

Proof quarters still sealed in original Mint packaging typically sell for $3 to $5 above the value of loose coins at equivalent grade levels. Collectors prize original government packaging as authentication of the coin’s proof status and careful preservation.

Error Varieties That Command Substantial Premiums

Off-center strikes create the most visually dramatic 1987 quarter errors. A 10% off-center strike with full date visible typically sells for $75 to $150. Examples struck 25-35% off-center reach $200 to $400, while spectacular 50% off-center pieces with complete dates have sold for $800 to $1,200 at major auctions.

Doubled die varieties exist for 1987 quarters, though none match the prominence of famous doubled dies from other years. Minor doubling on “LIBERTY” or “IN GOD WE TRUST” adds $15 to $50 in value depending on doubling strength and overall coin condition. Examine the lettering with 5x magnification to spot these subtle varieties.

Missing clad layer errors expose the copper core beneath the standard copper-nickel cladding. These wrong metal errors weigh approximately 20% less than normal quarters at 4.54 grams versus the standard 5.67 grams. A kitchen scale accurate to 0.1 grams can help identify potential candidates. Missing clad layer quarters typically sell for $100 to $300 depending on which side lost cladding and overall preservation.

Broadstrike errors occur when the retaining collar malfunctions during striking, allowing the planchet to expand beyond normal diameter. These oversized quarters measure 25-27mm instead of the standard 24.3mm. Values range from $40 for minor broadstrikes to $200 for dramatic examples showing significant expansion.

Die breaks and cuds appear as raised blobs of metal where the die cracked during production. Small die breaks add $5 to $15 in value, while major cuds covering significant portions of design elements can reach $50 to $150 depending on size and location.

Authentication and Professional Grading Considerations

Submitting 1987 quarters for professional grading makes financial sense only for coins likely to grade MS-66 or higher, or for dramatic error varieties. Standard PCGS and NGC grading fees range from $20 to $35 per coin, meaning a MS-65 quarter worth $12 loses money after grading costs.

Calculate the break-even point before submission. A coin must sell for at least $50 above grading costs to justify third-party certification. For 1987 quarters, this typically means pristine uncirculated examples showing no contact marks under magnification, or significant error varieties.

Self-authentication starts with proper lighting and magnification. A 10x jeweler’s loupe reveals fine details invisible to naked eye examination. Look for die polish lines in fields, die markers near design elements, and subtle doubling that distinguishes valuable varieties from common coins.

Weight verification catches missing clad layers and wrong planchet errors. Accurate digital scales measuring to 0.01 grams cost $15 to $30 online. Standard 1987 quarters should weigh 5.67 grams, with acceptable tolerance of plus or minus 0.03 grams. Coins falling outside this range warrant closer examination.

Compare suspected error coins against certified examples in online auction archives. Heritage Auctions, Stack’s Bowers, and GreatCollections maintain searchable databases with high-resolution images of previously sold errors. This research helps distinguish genuine errors from post-Mint damage.

Building a Complete 1987 Quarter Collection

Assembling a basic three-coin set with one example from each mint costs $30 to $50 in MS-64 to MS-65 grades. Budget-conscious collectors can complete this set for under $10 by accepting lower uncirculated grades or nice About Uncirculated examples.

Advanced collectors pursue variety-specific goals like assembling a complete die marker set or building a condition census registry. PCGS and NGC maintain competitive set registries where collectors compare their holdings against others pursuing similar goals. Registry participation adds competitive motivation beyond simple accumulation.

Error specialists focus exclusively on mistake coins, ignoring standard strikes entirely. A respectable 1987 error collection might include minor off-center strikes, small die breaks, and struck-through grease errors totaling $300 to $600 in acquisition costs.

Storage and preservation determine long-term value retention. Individual coin flips made from inert plastic protect against environmental damage while allowing easy viewing. Avoid PVC-containing holders that leach chemicals onto coin surfaces over time. Quality 2×2 cardboard holders with Mylar windows cost approximately $15 per 100 and provide excellent long-term protection.

Maximizing Returns When Selling 1987 Quarters

Local coin shops offer immediate liquidity but typically pay wholesale prices 20-40% below retail values. Expect offers around $8 for MS-65 coins with $12 retail values, or $75 for MS-67 specimens that book at $125. Shops need profit margin to cover overhead and resale risk.

Online marketplaces like eBay reach broader audiences and potentially higher prices, but require handling photography, listing creation, shipping logistics, and platform fees totaling 13-15% of sale price. Successful eBay sellers price competitively while highlighting specific attributes through clear photographs and detailed descriptions.

Major auction houses handle significant collections or individual coins valued above $500. Heritage Auctions, Stack’s Bowers, and Legend Numismatics charge seller commissions ranging from 0% to 20% depending on consignment value. These firms attract serious collectors willing to pay premium prices for properly attributed, high-grade material.

Timing sales to coincide with major coin shows or annual auctions maximizes buyer participation. The Florida United Numismatists show in January and American Numismatic Association convention in August draw thousands of active collectors and dealers competing for quality material.

Where Your 1987 Quarter Search Begins

Start checking pocket change and bank rolls immediately. Cashiers often accommodate requests for quarter rolls at face value, providing access to hundreds of coins for minimal investment. Each standard roll contains 40 quarters, meaning a $10 roll purchase examines 40 potential candidates.

Concentrate on uncirculated rolls still in original bank wrapping. These offer the highest probability of finding pristine examples suitable for professional grading. Loose quarters from circulation rarely grade above MS-62 due to accumulated contact marks from commerce.

Estate sales and inherited collections frequently contain forgotten proof sets from the 1980s. Many non-collectors received these as gifts and stored them without realizing current values. Politely inquire about coin collections when attending estate sales in your area.

Join local coin clubs to network with other collectors and learn about available material before it reaches retail markets. Most metropolitan areas support active numismatic organizations holding monthly meetings with educational programs and member trading sessions. Annual membership typically costs $20 to $40 and provides access to experienced collectors willing to share authentication knowledge.