One 1948 quarter sold for $43,200 at Stack's Bowers in March 2021 — while a worn example is worth less than $15. The difference? Mint mark, condition, and whether you're holding a rare 1948-S/S RPM FS-501 variety. Our free calculator does the math in seconds.
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If you're not yet sure of your coin's mint mark or condition, a 1948 Quarter Coin Value Checker with photo upload lets you photograph the coin and get an AI-assisted estimate before using this tool.
The most dramatic variety in the 1948 Washington Quarter series — the Repunched Mint Mark FS-501 — can be worth up to $3,750+ in Mint State. Use this quick checker to see if your coin might qualify.
The mint mark punch was applied once to the die at a single position. The resulting "S" appears clean, crisp, and without any secondary or overlapping impressions. This describes the vast majority of 1948-S quarters.
The die punch was applied at least four times in different positions, creating a heavily distorted, near-quadrupled "S" impression. The extra impressions are visible to the naked eye in strong examples and confirm quickly under a 5× loupe. Listed as FS-501 in the Cherrypickers' Guide.
The self-checker identifies the variety — the calculator gives you the dollar value based on your coin's exact condition.
While the 1948 Washington Quarter appears common at first glance, five documented varieties and error types can turn a $10 silver coin into a piece worth hundreds or thousands. The cards below cover each variety in detail — what caused it, how to spot it, and what the market pays.
The FS-501 Repunched Mint Mark is the crown jewel of 1948 quarter varieties. During the hand-punching era, mint workers applied the "S" letter punch to the working die. On this die, the punch was applied at least four times in slightly different positions, creating a dramatically distorted, near-quadrupled impression that was then transferred to every coin struck from that die.
The result is immediately visible: instead of a clean single "S," the mint mark appears bloated, elongated, and multi-layered. Under a 5× loupe or even to the naked eye on a well-struck example, collectors can distinguish multiple overlapping "S" silhouettes stacked at varying angles. This is officially listed as FS-501 in the Cherrypickers' Guide to Rare Die Varieties.
Collector demand for certified examples is driven by registry set competition and the visual drama of the quadrupled impression. The variety commands a roughly 41× premium between AU-58 and MS-62 grades, reflecting how sharply demand concentrates at Mint State levels. Heritage Auctions recorded a sale of approximately $4,000 for an MS-64 example in 2018.
The 1948-D/D RPM is a Repunched Mint Mark variety where the "D" punch was applied to the die more than once, leaving a secondary, slightly offset "D" impression visible under magnification. Like all RPM varieties from this era, it occurred because mint workers hand-punched each mint mark into working dies and occasionally repositioned the punch before striking again.
Visually, collectors look for a shadow or "ghost" impression of a second "D" either above, below, or to the side of the primary mint mark. The direction and degree of offset varies by the specific die used, and dedicated variety collectors often document multiple RPM sub-varieties from the same mint year. The repunching itself is typically subtle compared to the FS-501 on the S-mint, requiring at least a 5× loupe for confident attribution.
Though modest in value compared to the FS-501, the 1948-D/D commands a reliable premium because the 1948-D is already the "sleeper rarity" of the series in Gem grades. A well-attributed, clearly-doubled example in Mint State can make this scarce issue even more compelling to variety hunters. Circulated examples trade for $20–$50 above a standard 1948-D; uncirculated certified examples in MS-63 to MS-65 have recorded sales of $80–$175+.
The 1948-S Prooflike is not technically an error, but it is a highly prized official designation awarded by both PCGS and NGC. It occurs because the San Francisco Mint used heavily polished production dies at the start of each die run, and the first coins struck from these dies inherited deeply mirrored fields that contrast sharply with the frosted, matte texture of the raised design elements — precisely mimicking a Proof coin's appearance.
No official Proof quarters were struck in 1948, making these early die strikes the closest thing in existence. Under directed light, the flat fields act as mirrors while Washington's portrait, the lettering, and the eagle appear semi-frosted in sharp contrast. Certified examples must pass strict PCGS or NGC review to receive the "PL" (Prooflike) suffix, ensuring the reflectivity is genuine rather than artificial polishing.
The premium for a confirmed Prooflike is substantial: certified examples sell for approximately five to eight times the price of a standard 1948-S at the same grade level. Because the San Francisco Mint's quality control issues meant many S-mint coins were weakly struck, a sharply struck Prooflike example with clean surfaces commands a significant additional premium from type set and registry collectors alike.
A broadstrike occurs when the planchet (coin blank) is struck outside the retaining collar — the metal ring that normally controls the coin's diameter and shapes its reeded edge. Without the collar's constraint, the metal flows outward under die pressure, producing a coin that is noticeably wider and thinner than a standard quarter, with a smooth, reed-free edge.
On a 1948 quarter broadstrike, the design is visibly spread: Washington's portrait expands outward, the lettering stretches toward the rim, and the entire strike looks compressed top-to-bottom. The absence of reeding on the edge is the easiest single diagnostic — run a fingernail around the coin's rim and you should feel smooth metal rather than the normal serrations. The broadstrike must affect the entire coin perimeter to qualify; partial collar strikes are a related but distinct error type.
Values for 1948 broadstrikes depend heavily on how dramatic the spreading is and whether the coin retains original luster. Silver-era Washington Quarter broadstrikes in the 20–40% diameter expansion range trade for $75–$160 in general value guides, while more dramatic examples or Mint State survivors can exceed those ranges. A documented 1948-P broadstrike in AU condition has been offered in the $55 range.
An off-center strike happens when the planchet is improperly centered beneath the dies at the moment of striking. The result is a coin where one portion of the design is fully struck and sharp, while the opposite side shows a blank, unstruck crescent of planchet. The severity is measured as a percentage of how far off-center the design sits, and this percentage directly drives value.
On a 1948 off-center quarter, Washington's portrait and the date may appear on one arc of the coin while an increasingly large blank field occupies the other side. For a 1948 quarter, the key diagnostic for maximum value is whether the date "1948" remains fully visible — if the date is absent because it fell in the unstruck zone, collector interest drops sharply. Well-centered 20–40% off-center strikes with a clear date are the sweet spot for Washington Quarter error collectors.
The 1948 series does not have a single documented landmark off-center auction sale, but general Washington Quarter silver-era guidelines place 20–40% off-center strikes with visible dates at $75–$160, and more dramatic 40–90% strikes with blank planchet showing at $180–$300+. Mint State examples or coins with exceptional eye appeal can command premiums above those ranges from dedicated error coin specialists.
| Mint / Variety | Mintage | Est. Survivors | Survival Rate | Key Fact |
|---|---|---|---|---|
| Philadelphia (P) — No Mark | 35,196,000 | ~3,519,000 | ~10% | Highest mintage; auction record $43,200 (MS-68+) |
| Denver (D) | 16,766,800 | ~1,676,000 | ~10% | Rarest in Gem grades; only 1 NGC MS-68 known (as of 2020) |
| San Francisco (S) | 15,960,000 | ~1,596,000 | ~10% | Lowest raw mintage; saved in rolls; FS-501 RPM variety |
| Total All Mints | 67,922,800 | ~6,791,000 | ~10% | Post-WWII production for circulation demand |
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The table below consolidates market values across all three 1948 mints and condition tiers. For a complete step-by-step illustrated 1948 quarter identification walkthrough and grade breakdown, including photo comparisons for each condition level, the CoinValueApp guide covers every variety in detail. Values reflect NGC/PCGS price guides and recent auction results as of 2026 edition.
| Variety | Worn (G–VF) | Circulated (EF–AU) | Uncirculated (MS-60–64) | Gem (MS-65+) |
|---|---|---|---|---|
| 1948-P (Philadelphia) | $9 – $10 | $10 – $15 | $10 – $18 | $35 – $43,200+ |
| 1948-D (Denver) ★ Sleeper Rarity | $9 – $10 | $10 – $15 | $11 – $19 | $40 – $8,050+ |
| 1948-S (San Francisco) | $9 – $10 | $10 – $15 | $11 – $19 | $35 – $23,500+ |
| 1948-S/S RPM FS-501 ⭐ | $90 – $140 | $140 – $300 | $300 – $650 | $650 – $3,750+ |
| 1948-S Prooflike (PL) | N/A | N/A | $50 – $150 | $300 – $1,500+ |
⭐ = Signature variety (RPM FS-501) · ★ = Condition rarity (1948-D) · All values are approximate; always verify against current PCGS/NGC price guides before selling.
📱 CoinHix gives you a fast on-the-go way to photograph your 1948 quarter and cross-check its estimated value against current market data — a coin identifier and value app.
Grading determines whether your coin is worth $9 or $43,200. These are the four key condition tiers and what to look for.
Significant flatness on Washington's cheekbone and the hair above his ear. On the reverse, the eagle's breast feathers are worn smooth, and the upper portion of the legs show reduced detail. Lettering remains legible but rim may be soft. These coins trade primarily at silver melt value.
Only light wear on the very highest points — Washington's cheek and hair tips show slight dullness, the eagle's breast retains most feather detail. In AU-58, original luster may survive in protected areas. Still primarily melt-value territory, but AU examples can attract modest numismatic interest.
No trace of wear — the coin has never seen pocket circulation. However, bag marks and contact marks from coin-on-coin contact during mint handling are expected and normal. Strike quality matters here: the 1948-P and 1948-S issues frequently show weak strikes on eagle feathers, which suppresses grade even on technically uncirculated pieces.
Strong original luster, minimal contact marks confined to non-focal areas, and a sharp strike throughout. For 1948 quarters, achieving true Gem status requires beating the quality control problems that plagued the Philadelphia and San Francisco Mints. MS-67 and above examples are genuinely rare across all three mints and trade into the hundreds or thousands.
🔍 CoinHix lets you compare your coin's surface detail against catalogued graded examples to help narrow down the condition tier before submitting for professional certification — a coin identifier and value app.
The right venue depends on your coin's grade and whether it's a variety. Circulated silver-melt examples have different optimal paths than certified Gem specimens.
Major auction houses are ideal for certified MS-67 and above examples, or for the 1948-S/S RPM FS-501 variety in Mint State. These venues attract registry set collectors who drive the premium prices. The 1948 MS-68+ record of $43,200 was set at Stack's Bowers. Expect 15–20% seller's fees, but realized prices can far exceed alternatives for top-grade coins.
eBay reaches the broadest pool of buyers for mid-grade 1948 quarters, RPM varieties, and error coins. Check recently sold prices for 1948 Washington Quarters in MS grades to set your asking price accurately. Raw (uncertified) circulated examples sell near melt value; variety or Mint State coins benefit from PCGS/NGC certification before listing.
A local coin dealer offers immediate payment without shipping or auction wait times. For circulated 1948 quarters worth $9–$15 in silver, an LCS is often the most practical option. Expect to receive roughly 70–80% of melt or retail value — dealers need margin to resell. Bring any PCGS/NGC slabs as they help dealers assess and price quickly.
The r/coins and r/coincollecting communities, plus the CONECA forums, include dedicated variety hunters who actively seek the 1948-S/S RPM FS-501 and 1948-D/D RPM. Private sales here avoid auction fees entirely. Verify buyer reputation carefully and always use PayPal Goods & Services for payment protection on higher-value transactions.
A 1948 Washington Quarter is worth roughly $9–$15 in circulated condition, primarily reflecting its 90% silver melt value. Uncirculated (MS-63 to MS-65) examples range from about $14 to $50. Gem Mint State specimens (MS-66 to MS-67) can bring $55–$215. The all-time auction record for any 1948 quarter is $43,200, set by a Philadelphia MS-68+ at Stack's Bowers in March 2021.
Despite mid-range mintage numbers, the 1948-D (Denver) is the rarest of the three 1948 issues in Gem condition, as stated by PCGS CoinFacts. Denver coins circulated heavily while San Francisco rolls were saved, so high-grade 1948-D quarters are surprisingly scarce. As of 2020, only one NGC MS-68 specimen of the 1948-D was known to exist, making top-grade examples extraordinarily rare.
The 1948-S/S RPM FS-501 is a die variety where the San Francisco mint mark punch was applied to the working die at least four times in slightly different positions, creating a dramatically distorted, near-quadrupled "S" impression. Listed in the Cherrypickers' Guide as FS-501, it is one of the most dramatic Repunched Mint Mark varieties in the Washington Quarter series. Certified examples in MS-62 have sold for approximately $3,750.
The mint mark on all pre-1965 Washington Quarters, including the 1948 issue, is located on the reverse (eagle side) of the coin. Look just below the eagle's tail feathers, between the two olive branches, directly above the "R" in "QUARTER DOLLAR." A "D" indicates Denver, an "S" indicates San Francisco, and no letter means the coin was struck at Philadelphia.
In circulated grades the 1948-D is common, but in Gem Mint State it is the rarest of the three 1948 issues. PCGS explicitly identifies it as "one of the tougher issues of the post-war era." Denver quarters circulated heavily and were not saved in rolls the way San Francisco coins were. Only a single NGC MS-68 specimen was known as of 2020, and the auction record for the issue stands at $8,050 for an MS-67+.
The 1948 Washington Quarter is composed of 90% silver and 10% copper, weighing 6.25–6.30 grams. Its diameter is 24.3 mm with a reeded edge. The actual silver weight is 0.18084 troy ounces. At current silver prices, this gives every 1948 quarter a melt value floor — circulated coins are worth at minimum their silver content regardless of numismatic grade.
The most valuable documented error on a 1948 quarter is the 1948-S/S RPM FS-501 Repunched Mint Mark variety, which has sold for approximately $3,750 in MS-62. Other documented errors include the 1948-D/D RPM (worth $80–$175+ uncirculated), broadstrike errors ($55–$160), off-center strikes ($75–$300 depending on severity and whether the date is visible), and strike-through errors (around $99 in AU condition).
The 1948-S Prooflike (PL) designation is awarded by PCGS and NGC to San Francisco quarters struck from heavily polished dies early in their production run. These coins show deeply mirrored fields contrasting with frosted raised design elements — exactly like a Proof coin — even though no Proof quarters were officially made in 1948. Certified Prooflike examples sell for five to eight times the price of a standard 1948-S in the same grade.
Never clean a 1948 quarter. Cleaning removes the original mint luster, destroys the coin's toning, and leaves hairline scratches visible under magnification. A cleaned coin is immediately downgraded by PCGS and NGC, often receiving a "Details" designation that eliminates most collector premium. Even a circulated 1948 quarter worth $10–$15 for silver loses desirability when cleaned. An uncirculated coin that might grade MS-65 ($35+) can be rendered nearly worthless as a collectible by improper cleaning.
In circulated grades (G-4 through AU-50), all three 1948 quarters are worth roughly the same $9–$15 silver melt range. In Gem Mint State (MS-65+), values diverge sharply: the 1948-P can hit $43,200 at its peak (MS-68+), the 1948-S can reach $23,500 (MS-68 CAC), and the 1948-D, despite being the rarest in gem grades, has an auction record of $8,050 (MS-67+). The 1948-D's record is lower simply because fewer high-grade specimens have come to market.
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