Discover the 1946 Washington Quarter Value: What It’s Worth Today

The 1946 Washington Quarter value starts at roughly $20 in circulated condition – close to its silver melt – but climbs sharply for well-preserved examples, reaching thousands of dollars for gem-quality coins. Whether you found one in a drawer, inherited a collection, or are actively building a type set, understanding what drives the price of this 90% silver coin will help you make smarter decisions as a buyer or seller.

This guide covers everything: silver content, mint varieties, grade-by-grade pricing, collector appeal, and how to get the best return if you decide to sell. The 1946 quarter is one of the most accessible silver coins in American numismatics – common enough to find, interesting enough to study, and valuable enough to take seriously.

Historical Background: Why 1946 Matters

Washington Quarters have been struck since 1932, when the U.S. Mint introduced the design to honor President George Washington’s 200th birthday. John Flanagan designed the obverse portrait and the reverse eagle that collectors still recognize today.

By 1942, wartime demands forced changes across U.S. coinage. Silver was redirected to military and industrial uses, and quarter production was constrained. When the war ended in 1945, the Mint resumed full civilian production. The 1946 quarter marks that return – a coin struck in the standard 90% silver, 10% copper composition that had defined the series since 1932.

Post-war economic expansion drove enormous demand for circulating coins. Philadelphia alone struck over 53 million quarters that year. That high mintage is why most 1946 quarters you encounter today are affordable – but it also means that truly pristine survivors are rarer than the raw numbers suggest. The series ran through 1964, when rising silver prices pushed the government to switch to copper-nickel clad coinage. explains that transition in detail if you want broader context on when U.S. silver coins ended.

Coin Specifications and Silver Content

Every 1946 Washington Quarter shares the same physical specs regardless of mint:

At the current silver spot price of $82 per troy ounce, the melt value of a single 1946 quarter works out to approximately $14.82. Dealers and collectors typically refer to this as the “floor” – the minimum a coin should fetch regardless of condition. In practice, circulated examples often trade above melt because buyers factor in a small numismatic premium even for worn coins.

If you have a roll or bag of these coins, the math scales quickly. Four quarters equal one face-value dollar, and covers pre-1965 90% silver quarters in bulk for anyone interested in stacking them as a silver position.

The Three Mint Varieties: Philadelphia, Denver, and San Francisco

Three mints produced 1946 Washington Quarters. Each carries a different mintmark on the reverse, located below the wreath. Identifying the mint is the first step in assessing value.

The 1946-S has the lowest mintage of the three, but that does not automatically make it the most valuable in every grade. Coin collectors in the 1940s saved rolls of San Francisco quarters, so gem uncirculated examples (MS65 and above) are actually more available for the S mint than you might expect. The Philadelphia issue, despite its massive mintage, is scarcer in the very top grades because fewer rolls were preserved.

No major error coins are officially documented for 1946, but minor doubled dies and repunched mintmarks do exist. If you examine a coin under 10x magnification and notice doubling on lettering or the mintmark, it is worth researching further – rare varieties can be worth two to ten times the standard value.

1946 Washington Quarter Value by Grade

Condition determines most of the price. The Sheldon scale runs from 1 (barely identifiable) to 70 (perfect). Here is how 1946 quarters price out across the range, based on current market data:

A few things stand out in that table. First, the gap between circulated and gem is enormous – an MS67 1946-S is worth roughly 500 times what a worn example fetches. Second, the 1946-D in MS65 commands a surprisingly strong premium ($55-$390) because Denver coins in gem condition are genuinely scarce. Third, the 1946-S MS68 record sale of nearly $15,000 reflects how ultra-high-grade coins attract serious collector competition at auction.

Recent auction highlights include MS67 examples selling for $7,500 (CAC-approved with original toning) and select MS66 coins ranging from $69 to several hundred dollars depending on eye appeal. The market for top-grade 1946 quarters has strengthened roughly 20-50% since the early 2020s, driven by both rising silver prices and increased collector demand for original, problem-free coins.

PCGS & NGC Coin Verification – Accurate Precious Metals Refineries

How to Grade Your 1946 Quarter at Home

You do not need professional equipment to get a rough sense of where your coin falls on the grading scale. Start with these checkpoints:

1. Examine the obverse. Washington’s hair above his ear and along the top of his head wears first. In circulated grades, these areas flatten. In AU and MS, hair strands remain sharp and separated.
2. Check the cheek and jaw. Light wear shows as a slight flatness on the cheek. MS coins have full luster across the face.
3. Flip to the reverse. The eagle’s breast feathers and the separation between its legs are the first details to soften. Gem coins show crisp feather lines with no flatness.
4. Look for problems. Hairlines from cleaning, scratches, rim nicks, and dark spots all reduce value. A coin that has been polished or dipped often looks bright but lacks natural luster – experienced buyers spot this immediately.
5. Check the toning. Natural rainbow or golden toning on an otherwise sharp coin can add 20-100% to value. Artificial toning looks blotchy or chemically uneven.

For coins you believe are MS65 or better, professional grading through PCGS or NGC is worth the fee. A slab from either service removes doubt about grade and protects the coin’s value when reselling. As an NGC Authorized Dealer, Accurate Precious Metals can assist with the grading submission process – another advantage of working with a specialized dealer rather than a general pawn shop.

Comparing 1946 to Other Washington Quarter Years

The 1946 quarter sits in the middle of the classic silver Washington Quarter series (1932-1964). Knowing how it compares helps collectors prioritize:

• 1932-D and 1932-S – the key dates of the series. Low mintages make these coins worth hundreds to thousands even in circulated grades. Completely different value tier from 1946.
• 1940s quarters broadly – most are high-mintage, melt-value coins in circulated grades. The 1942-S and 1943 are notable for wartime context but not dramatically more valuable.
• 1946 vs. 1945 – similar mintage structure and value ranges. Both are post-war transition coins worth studying side by side.
• 1946 vs. 1949 – the 1949 Washington Quarter guide covers a year with lower mintages and higher collector premiums across grades.
• 1946 vs. 1952 – the 1952 Washington Quarter article explores another mid-series silver issue with comparable collector dynamics.
• 1964 – the last silver Washington Quarter year. Enormous mintage but strong demand as the final 90% silver issue.

Building a complete date-and-mint-mark set of silver Washington Quarters (1932-1964) is a popular collecting goal. The 1946 P, D, and S trio is an affordable entry point – you can assemble all three in VF for under $60 total.

Common Misconceptions About 1946 Quarter Value

Investment and Stacking Perspective

At $82 per ounce for silver, the 1946 Washington Quarter offers an accessible way to hold physical silver. Each coin contains just over 0.18 troy ounces of silver, making them easy to accumulate in quantity. Many silver stackers prefer 90% silver quarters – often called “junk silver” – because they trade close to spot, come in recognizable U.S. government-issued form, and can be liquidated quickly.

Compare that to gold at roughly $4,836 per ounce. A single gold coin requires a significant capital commitment. A roll of 40 silver quarters, by contrast, costs around $600 at current melt – a more accessible entry point for investors building a physical metals position.

That said, the numismatic angle adds another layer. A gem 1946-S in MS67 is not just a silver play – it is a collectible that has historically appreciated independently of silver prices. Serious collectors treat these coins as both a silver hedge and a numismatic asset. The two motivations are not mutually exclusive, but they require different strategies. Stackers buy quantity near melt; collectors buy quality and pay premiums for condition.

How to Sell Your 1946 Washington Quarter

If you are ready to sell, the approach depends on what you have. A worn circulated coin is a straightforward silver transaction. A gem uncirculated example needs the right buyer.

Local sellers in the Salem, Oregon area are welcome to bring coins directly to our location for an in-person evaluation. If you are anywhere else in the country, our mail-in service makes it simple – request a free insured shipping kit, send your coins, and receive payment after assessment. There is no need to drive to a coin show or risk selling to an unknown buyer online.

For anyone with a broader silver coin collection to liquidate, covers the process of selling silver coins for cash in more detail, including what to expect from the evaluation process.

Why Sell or Buy Through Accurate Precious Metals

Accurate Precious Metals has been operating out of Salem, Oregon for over 12 years, and the track record shows – more than 1,000 five-star customer reviews reflect consistent, transparent service. Unlike a pawn shop, which handles everything from electronics to jewelry with generalized pricing, we specialize in precious metals. That specialization means more accurate assessments, better pricing, and buyers who actually understand what a 1946-S MS65 is worth.

We buy silver coins, gold, platinum, palladium, bullion bars, scrap jewelry, silverware, and more. Whether you have a single 1946 quarter or a full Washington Quarter type set, we can evaluate and purchase it. Our pricing reflects live spot prices, so you are not getting an offer based on outdated data.

For collectors looking to buy, our inventory of silver coins includes a range of options from circulated 90% silver to modern bullion issues. We also offer Gold and Silver IRA services for retirement investors who want to hold physical metals in a tax-advantaged account – something most coin shops cannot provide.

Reach us at (503) 400-5608, visit us in Salem, or use our online selling platform from anywhere in the U.S. For those building or liquidating a silver coin collection, offers additional guidance on maximizing your return.

Frequently Asked Questions

Sources

1. USA Coin Book – 1946-P Washington Quarter Mintage and Specifications
2. PCGS CoinFacts – 1946-S Washington Quarter Rarity and Population Data
3. Greysheet – 1946 Washington Quarter Comprehensive Grade Ranges
4. APMEX Learn Center – Washington Quarter Series History and Values
5. NGC Coin – Washington Quarter Grading Standards and Registry
6. YouTube – 1946 Washington Quarter Rare Values and Auction Sales Breakdown