In the fascinating world of numismatics, every coin tells a story. The 1956 Washington Quarter, a seemingly ordinary piece of currency, holds secrets that can excite both novice collectors and seasoned experts alike. But just how much is a 1956 quarter really worth? Let's embark on a journey through time to uncover the true value of this mid-century coin.
The Historical Context of the 1956 Quarter
Before we dive into valuations, it's crucial to understand the historical significance of the 1956 quarter:
- Minted during Dwight D. Eisenhower's presidency
- Part of the Washington Quarter series, first introduced in 1932
- Produced during the post-war economic boom
- One of the last years before the transition to clad composition in 1965
This historical backdrop adds depth to the coin's numismatic appeal, as it represents a pivotal era in American history.
The Anatomy of a 1956 Quarter
Let's break down the essential characteristics of the 1956 quarter:
- Composition: 90% silver, 10% copper
- Weight: 6.25 grams
- Diameter: 24.3 mm
- Thickness: 1.75 mm
- Edge: Reeded (119 reeds)
- Designer: John Flanagan (obverse and reverse)
Minting Details:
- Philadelphia Mint: No mint mark, 44,144,000 produced
- Denver Mint: "D" mint mark, 32,334,500 produced
- Proof coins (Philadelphia): 669,384 produced
Factors Influencing the 1956 Quarter Value
Several key elements determine the worth of a 1956 quarter:
- Mint mark: Philadelphia (no mark) or Denver ("D")
- Condition (grade): From circulated to pristine uncirculated
- Rarity: Especially for high-grade specimens
- Silver content: Intrinsic metal value
- Market demand: Collector interest and overall economic factors
- Errors and varieties: Unusual features that can significantly increase value
Comprehensive Value Guide for 1956 Quarters
Let's break down the potential values based on mint mark and condition:
1956 No Mint Mark Quarter (Philadelphia)
| Grade | Value Range |
|---|---|
| Good (G4) | $4.50 – $5.50 |
| Fine (F12) | $5.00 – $6.00 |
| VF20 | $5.50 – $6.50 |
| EF40 | $6.00 – $7.00 |
| AU50 | $7.00 – $9.00 |
| MS60 | $10 – $12 |
| MS65 | $28 – $32 |
| MS67 | $85 – $95 |
| MS68 | $7,000+ |
1956-D Quarter (Denver)
| Grade | Value Range |
|---|---|
| Good (G4) | $4.50 – $5.50 |
| Fine (F12) | $5.00 – $6.00 |
| VF20 | $5.50 – $6.50 |
| EF40 | $6.00 – $7.00 |
| AU50 | $7.00 – $9.00 |
| MS60 | $10 – $12 |
| MS65 | $28 – $32 |
| MS67 | $500 – $550 |
| MS68 | $9,500+ |
1956 Proof Quarter
| Grade | Value Range |
|---|---|
| PR60 | $8 – $10 |
| PR65 | $25 – $30 |
| PR67 | $85 – $95 |
| PR69 | $160 – $180 |
| PR70 | $450 – $550+ |
Note: Deep Cameo proof specimens can command significantly higher premiums, potentially reaching thousands of dollars for perfect PR70 DCAM examples.
The Silver Factor: Understanding Melt Value
One of the most significant aspects of the 1956 quarter's value is its silver content. With a 90% silver composition, each coin contains approximately 0.18084 troy ounces of pure silver. This inherent metal value provides a solid floor for the coin's worth.
To calculate the melt value:
- Check the current spot price of silver (as of 2023, roughly $23 per troy ounce)
- Multiply by 0.18084 (silver content of the quarter)
For example: $23 x 0.18084 = $4.16 (approximate melt value)
This means that even in poor condition, a 1956 quarter will always be worth its weight in silver, typically around $4-$5 at current silver prices.
Grading the 1956 Quarter: A Closer Look
The condition of a coin is paramount in determining its value. Here's a more detailed grading scale:
- Good (G4): Heavily worn, but main features still visible. Date and LIBERTY legible.
- Fine (F12): Moderate wear, all major details clear. Some hair detail visible on Washington.
- Very Fine (VF20): Light wear on high points. More hair detail, partial shirt collar visible.
- Extremely Fine (XF40): Light wear, sharp details. Most hair lines distinct, clear shirt collar.
- About Uncirculated (AU50): Minimal wear, some luster remaining. Slight wear on highest points.
- Mint State (MS60-70): No wear, varying degrees of luster and contact marks. MS70 is perfect.
Professional grading services like PCGS and NGC use a more nuanced 70-point scale, which can significantly impact a coin's value.
Rare 1956 Quarter Errors and Varieties
While major errors are uncommon for 1956 quarters, some varieties can add substantial value:
- Die Chip Error: Small raised areas due to die damage. Can add $20-$50 premium.
- Type B Reverse: Slight spacing differences in lettering. May increase value by 10-20%.
- Repunched Mint Mark (RPM): Visible on some Denver quarters. Can add $50-$100 for clear examples.
- Double Die: Very rare for 1956, but if found, could be worth thousands.
How to Identify a Valuable 1956 Quarter
To spot a potentially valuable 1956 quarter:
- Check the mint mark (or lack thereof) on the reverse, right of the wreath.
- Examine overall condition and luster under good lighting.
- Look for any signs of errors or die varieties using a 10x magnifying glass.
- Assess the strength of details, especially on Washington's hair and the eagle's feathers.
- Check for any unusual toning or color, which can sometimes add value.
The Collector's Market: Trends and Outlook
The market for 1956 quarters has shown interesting trends:
- Stable base value: Due to silver content, maintaining a solid floor price.
- Increasing premium for high grades: MS67 and above have seen steady appreciation.
- Growing interest in proofs: Especially for deep cameo examples.
- Error coin enthusiasm: Collectors increasingly seek out minor varieties.
According to recent auction data, the highest price paid for a 1956 quarter was $21,600 for a perfect MS68+ specimen in 2019. This demonstrates the potential for exceptional examples to command extraordinary premiums.
Preservation Tips for Your 1956 Quarters
To maintain the value of your 1956 quarters:
- Handle with care: Use cotton gloves and hold by the edges to avoid fingerprints.
- Store properly: Use archival-quality holders or albums to prevent environmental damage.
- Avoid cleaning: Professional conservation only if absolutely necessary, as improper cleaning can severely devalue a coin.
- Control environment: Store in a cool, dry place to prevent toning or corrosion.
Where to Sell Your 1956 Quarter
If you believe you have a valuable 1956 quarter, consider these options:
- Coin dealers: Local or online specialists can offer immediate purchase.
- Auction houses: For rare, high-grade specimens. Consider Heritage Auctions or Stack's Bowers.
- Online marketplaces: eBay, Great Collections, or specialized numismatic forums.
- Coin shows: Annual events like the ANA World's Fair of Money offer direct access to collectors.
The Future of 1956 Quarter Collecting
As we approach the 70th anniversary of the 1956 quarter, several factors may influence its future value:
- Increasing scarcity: As more coins are lost or melted for silver, remaining specimens may appreciate.
- Generational interest: New collectors often seek coins from significant years in their family history.
- Silver price fluctuations: The base value will continue to be tied to precious metal markets.
- Condition rarity: High-grade examples will likely see the most significant price increases.
Conclusion: Is Your 1956 Quarter a Hidden Treasure?
While most 1956 quarters are worth their silver melt value, pristine examples and rare varieties can command impressive premiums. The key to unlocking your coin's true value lies in careful examination, understanding of the market, and, when appropriate, professional grading.
Whether you're a seasoned collector or simply curious about that old quarter in your change jar, the 1956 Washington Quarter offers a fascinating glimpse into American numismatic history. It represents not just monetary value, but a tangible connection to the post-war era of American prosperity and the artistry of mid-century coin design.
Remember, the journey of coin collecting is as much about the thrill of discovery as it is about monetary value. Each 1956 quarter tells a story of mid-century America, economic policies, and the transition from silver to clad coinage. As you explore the world of these silver quarters, you're not just assessing value – you're holding a piece of history in your hands.
So, the next time you come across a 1956 quarter, take a moment to appreciate its history and potential value. Who knows? You might just be holding a small silver treasure that's worth far more than 25 cents.
