In the fascinating world of numismatics, every coin tells a story. The 1968 quarter, minted during a pivotal year in American history, is no exception. As a seasoned coin collector with over three decades of experience, I've seen countless 1968 quarters pass through my hands. But what's the real value of this iconic coin? Let's embark on an in-depth exploration of the 1968 quarter, uncovering its history, characteristics, and true worth in today's market.
Historical Context and Significance
A Nation in Transition
1968 was a year of profound change in the United States. The Vietnam War raged on, civil rights movements gained momentum, and the assassinations of Martin Luther King Jr. and Robert F. Kennedy shook the nation. Amidst this tumultuous backdrop, the U.S. Mint continued its production of coinage, including the Washington quarter.
The Washington Quarter Series
The 1968 quarter is part of the Washington quarter series, which began in 1932 to commemorate the 200th anniversary of George Washington's birth. Designed by John Flanagan, this series has become one of the longest-running in U.S. coinage history.
The Silver-to-Clad Transition
A critical aspect of the 1968 quarter is its composition. In 1965, due to rising silver prices, the U.S. Mint transitioned from silver to a copper-nickel clad composition for quarters. The 1968 quarter represents this new era in American coinage, marking a significant shift in U.S. monetary policy.
Physical Characteristics of the 1968 Quarter
Understanding the physical attributes of the 1968 quarter is crucial for both identification and valuation:
- Composition: 91.67% copper, 8.33% nickel (outer layers bonded to a pure copper core)
- Weight: 5.67 grams
- Diameter: 24.3 mm
- Thickness: 1.75 mm
- Edge: Reeded (119 reeds)
Obverse Design
- Portrait of George Washington facing left
- Inscription "LIBERTY" above
- Date "1968" below
- Motto "IN GOD WE TRUST" to the left
Reverse Design
- Eagle with outstretched wings
- "UNITED STATES OF AMERICA" above
- "QUARTER DOLLAR" below
- "E PLURIBUS UNUM" to the left of the eagle
Mintage Statistics
The 1968 quarter was produced at three U.S. Mint facilities. Here's a breakdown of the mintage numbers:
| Mint Location | Mintage | Mint Mark |
|---|---|---|
| Philadelphia | 220,731,500 | None |
| Denver | 101,534,000 | D |
| San Francisco | 3,041,506 | S (Proof only) |
Source: "A Guide Book of United States Coins" (The Red Book), 74th Edition.
Factors Affecting the 1968 Quarter's Value
Several key factors influence the value of a 1968 quarter:
1. Mint Mark
The mint mark can significantly impact a coin's value. For 1968 quarters:
- Philadelphia coins have no mint mark
- Denver coins have a "D" mint mark
- San Francisco coins have an "S" mint mark (proof strikes only)
2. Condition (Grade)
The condition of a coin is paramount in determining its value. The Sheldon Scale, ranging from 1 to 70, is used to grade coins:
- Circulated (1-59): Most 1968 quarters fall into this category
- Uncirculated (60-70): Higher grades can command significant premiums
3. Rarity and Errors
While 1968 quarters are generally common, certain errors or varieties can be quite rare and valuable:
- Doubled Die Errors: Particularly on the obverse
- Off-Center Strikes: When the coin is struck off-center
- Repunched Mint Marks: Especially on Denver-minted coins
4. Market Demand
Collector interest and overall market conditions can influence prices, especially for high-grade specimens.
Detailed Value Breakdown
Based on my experience and current market data, here's a comprehensive breakdown of 1968 quarter values:
1968 (Philadelphia – No Mint Mark)
| Grade | Value Range |
|---|---|
| Good to Very Fine | $0.25 – $0.50 |
| Extremely Fine | $0.50 – $1 |
| About Uncirculated | $1 – $3 |
| MS-60 to MS-63 | $3 – $10 |
| MS-64 to MS-65 | $12 – $30 |
| MS-66 to MS-67 | $40 – $150 |
| MS-68 and above | $1,000+ |
1968-D (Denver)
| Grade | Value Range |
|---|---|
| Good to Very Fine | $0.25 – $0.50 |
| Extremely Fine | $0.50 – $1 |
| About Uncirculated | $1 – $3 |
| MS-60 to MS-63 | $3 – $10 |
| MS-64 to MS-65 | $12 – $30 |
| MS-66 to MS-67 | $40 – $150 |
| MS-68 and above | $800+ |
1968-S (San Francisco – Proof)
| Grade | Value Range |
|---|---|
| PR-60 to PR-63 | $1 – $5 |
| PR-64 to PR-65 | $6 – $15 |
| PR-66 to PR-67 | $20 – $40 |
| PR-68 to PR-69 | $50 – $150 |
| PR-70 | $300+ |
Notable Sales and Record Prices
While most 1968 quarters are worth little over face value, some exceptional specimens have achieved remarkable prices at auction:
- In 2013, a 1968 quarter graded MS-68+ by PCGS sold for an astounding $9,400 at a Heritage Auctions event.
- A 1968-D quarter in MS-68 condition reached $8,813 in a 2013 sale, showcasing the premium for top-grade Denver-minted coins.
- In 2007, a 1968-S proof quarter graded PR-69 Deep Cameo by PCGS fetched $2,875, highlighting the value of near-perfect proof strikes.
Source: Heritage Auctions archives and PCGS CoinFacts.
Identifying Potentially Valuable 1968 Quarters
For collectors looking to identify valuable 1968 quarters, consider these tips:
- Check for mint marks (D or S)
- Assess the overall condition, looking for minimal wear
- Examine the coin under magnification for any errors or die varieties
- Look for full strike details, especially on the eagle's breast feathers
- Consider the luster and eye appeal, particularly for uncirculated coins
For precise grading and valuation, I always recommend having potentially valuable coins professionally evaluated by a reputable grading service like PCGS or NGC.
The Current Market for 1968 Quarters
As of 2023, the market for 1968 quarters remains relatively stable. Key observations include:
- Circulated Coins: Most circulated 1968 quarters trade at face value or slightly above.
- Uncirculated Specimens: There's steady demand for high-grade uncirculated coins, particularly those graded MS-65 and above.
- Proof Issues: 1968-S proof quarters, especially those with deep cameo contrast, continue to attract collector interest.
- Error Coins: Significant errors, such as major off-center strikes or doubled dies, can command substantial premiums.
Market Trends to Watch
- Increasing Interest in Top-Grade Coins: As the population of high-grade 1968 quarters remains limited, demand for MS-67 and above coins may continue to grow.
- Rising Popularity of Error Coins: The error coin market has seen steady growth, with collectors increasingly seeking unique pieces.
- Potential for Long-Term Appreciation: While not guaranteed, top-grade 1968 quarters have shown potential for long-term value appreciation.
Expert Tips for Collectors
Drawing from my years of experience, here are some tips for collectors interested in 1968 quarters:
- Focus on Quality: When possible, opt for uncirculated coins with strong eye appeal.
- Hunt for Varieties: Look for interesting die varieties or errors, which can add significant value.
- Invest in Education: Familiarize yourself with grading standards and coin authentication techniques.
- Consider Certified Coins: For valuable specimens, professionally graded and encapsulated coins offer added security and liquidity.
- Be Patient: Building a quality collection takes time. Don't rush into purchases without proper research.
Preservation and Storage
Proper preservation is crucial to maintaining the value of your 1968 quarters:
- Handling: Always handle coins by their edges to avoid damaging the surfaces.
- Storage Solutions: Use non-PVC holders or albums designed specifically for coin storage.
- Environmental Control: Store coins in a cool, dry environment to prevent toning or corrosion.
- Avoid Cleaning: Never clean your coins, as this can significantly reduce their value.
Conclusion: The True Worth of a 1968 Quarter
So, what is a 1968 quarter really worth? The answer, as we've seen, is nuanced. While most 1968 quarters in circulation are worth only their face value of $0.25, uncirculated specimens and those with unique characteristics can be worth significantly more.
For the average collector, the 1968 quarter offers an accessible entry point into the world of numismatics. It represents a pivotal moment in U.S. coinage history and provides a tangible connection to a transformative year in American history.
For the dedicated numismatist, the hunt for high-grade specimens, interesting varieties, and rare errors can be both challenging and rewarding. The potential for discovering a valuable 1968 quarter in circulation, while slim, adds an element of excitement to the hobby.
Ultimately, the true value of collecting 1968 quarters – or any coins – extends beyond monetary worth. It lies in the joy of the hunt, the appreciation of history, and the connection to a broader community of collectors and enthusiasts.
Whether you're a seasoned collector or just starting out, the 1968 quarter offers a fascinating window into American coinage and history. Happy collecting!
