1932 US Coins: Values & Mintages

US coinage in 1932

The Washington quarter was introduced to mark the 200th anniversary of George Washington's birth. The Denver and San Francisco quarters of 1932 had small mintages and are the key dates of the series.

New this year: the Washington Quarter.

The Mint in the 1930s

The Great Depression cut demand for new coins to some of the lowest levels of the century. Several issues from 1931 to 1933 have tiny mintages for the time, including the 1931-S cent and the 1932-D and 1932-S Washington quarters. Gold coins were recalled in 1933 and US gold coinage for circulation ended.

Production recovered later in the decade as the economy improved. The Washington quarter, introduced in 1932, became permanent; the Peace dollar ended in 1935; and the Jefferson nickel replaced the Buffalo nickel in 1938. Proof coins were sold to collectors again from 1936 and coin collecting grew quickly as a hobby, helped by inexpensive coin boards for filling in dates and mint marks.

How many coins were made in 1932

Counting the circulation issues on this page, US mints struck 31,375,550 coins dated 1932 across 7 issues. That is close to the 1931 total of 35,196,750. In 1933 the figure fell to 23,104,000.

It was the smallest year since 1874.

By mint: Philadelphia 20,030,750 (64%, down from 25,484,250), Denver 10,936,800 (35%, up from 5,846,500) and San Francisco 408,000 (1.3%, down from 3,866,000).

Those coins held about 1,130,083 troy ounces of pure silver and 3,224,896 troy ounces of gold.

1932 coins by denomination

Cents: 19,562,000 struck in 2 circulation issues of the Lincoln Wheat Cent, down 21% on 1931. The scarcest is the 1932 (9,062,000) and the most plentiful the 1932-D (10,500,000).

Quarters: 6,248,800 struck in 3 circulation issues of the Washington Quarter. The scarcest is the 1932-S (408,000) and the most plentiful the 1932 (5,404,000).

Gold Coins: 5,564,750 struck in 2 circulation issues of the Indian Head Eagle and Saint-Gaudens Double Eagle, up 83% on 1931. The scarcest is the 1932 (1,101,750) and the most plentiful the 1932 (4,463,000).

Every 1932 circulation issue at a glance

• 1932-S Washington Quarter: 408,000 struck, the lowest mintage of all 144 Washington Quarter issues, a famous date.
• 1932-D Washington Quarter: 436,800 struck, 2nd lowest of 144 in the series, a famous date.
• 1932 Saint-Gaudens Double Eagle: 1,101,750 struck, more than 63% of the series' 52 issues, down from 2,938,250 in 1931.
• 1932 Indian Head Eagle: 4,463,000 struck, the highest mintage of the series, up from 1,014,000 in 1926.
• 1932 Washington Quarter: 5,404,000 struck, 12th lowest of 144 in the series.
• 1932 Lincoln Wheat Cent: 9,062,000 struck, 17th lowest of 140 in the series, down from 19,396,000 in 1931.
• 1932-D Lincoln Wheat Cent: 10,500,000 struck, 19th lowest of 140 in the series, up from 4,480,000 in 1931.

Lincoln Wheat Cent: The Depression low and the late 1930s boom

The Depression cut cent demand sharply. Production fell to 19 million in Philadelphia in 1931. San Francisco struck just 866,000, creating the 1931-S, a key date that many people saved at the time, so it is more available in uncirculated grades than its mintage suggests. Output stayed low in 1932 and 1933, with no San Francisco cents in either year. Recovery began in 1934, when Philadelphia struck 219 million.

Proof cents returned in 1936, first with a satin finish and later with a brilliant finish. The 1936 also has a doubled die obverse. Output climbed through the late 1930s and topped 887 million in Philadelphia in 1941 as the defense buildup increased spending. Because collecting albums became popular in this decade, many rolls were saved, so uncirculated red coins from 1934 onward are much easier to find than earlier dates.

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Washington Quarter: A bicentennial tribute becomes permanent

The Washington quarter was introduced in 1932 for the 200th anniversary of George Washington's birth. John Flanagan's portrait is based on Jean-Antoine Houdon's bust, while the eagle reverse carries the mint mark below the wreath. Philadelphia struck 5.4 million, but Denver and San Francisco made only 436,800 and 408,000. Those two branch mint coins are the keys of the series.

No quarters were struck in 1933 during the Depression. The 1934 Philadelphia coins come with light and heavy motto styles, plus a doubled die obverse with strong doubling in IN GOD WE TRUST. Other scarce dates include the 1936-D, 1937-S and 1938-S. Denver made no quarters in 1938. Proof quarters were offered again from 1936. A 1937 doubled die obverse is another recognized variety of the period.

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Indian Head Eagle: The final eagles and the gold recall

San Francisco struck 96,000 eagles in 1930. Almost all were melted, leaving the 1930-S a rarity. No eagles were made in 1931. Philadelphia's 1932 mintage of 4,463,000 was the largest of the series. Many 1932 eagles were exported before the recall, which makes the 1932 the most common date today and a favorite for type sets.

The 1933, with 312,500 struck, was made early in the year shortly before the gold recall under Executive Order 6102 of April 1933. A small number left the Mint and are legal to own, but nearly the entire mintage was melted. It is one of the great rarities among twentieth century gold coins. Counterfeits of the 1930-S and 1933 exist, so certification is important. No eagles were struck after 1933.

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Saint-Gaudens Double Eagle: Late dates and the 1933 double eagle

Double eagles from 1929 to 1932 were struck in good numbers but few were ever released. The 1929, 1930-S, 1931, 1931-D and 1932 are all rare because nearly every coin was melted after the gold recall. Survivors are mostly uncirculated and well struck, since they never saw use in commerce. The 1931-D had a mintage of just 106,500. Counterfeits of these late dates exist, so buy them only certified.

The 1933, with 445,500 struck, was never issued. A few left the Mint unofficially and the government pursued them for decades. Only one example, once owned by King Farouk of Egypt, has been legally cleared for private ownership. The rest of the mintage was melted. The series ended with these coins because gold coinage for circulation stopped in 1933.

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