The 1938 Washington Quarter with no mint mark is worth anywhere from $6 in worn condition to over $350 in high-grade mint state. Finding one of these silver treasures in your pocket change is a thrilling discovery for any casual collector or curious enthusiast.
| Condition | Approximate Value |
|---|---|
| Good (G-4) | $6 – $8 |
| Fine (F-12) | $10 – $12 |
| Extremely Fine (XF-40) | $15 – $22 |
| Uncirculated (MS-63) | $45 – $60 |
| Gem Uncirculated (MS-65+) | $130 – $350+ |
An Overview of the 1938 Washington Quarter No Mint Mark
In 1938, the United States was slowly climbing out of the Great Depression. The Philadelphia Mint struck over 9 million Washington Quarters that year. Unlike coins from Denver or San Francisco, those produced in Philadelphia do not feature a small letter on the reverse. If you check the back of your coin, just below the eagle, and see a blank space, you have a Philadelphia strike.
Determining the exact worth of your find requires a bit of detective work. Many people use the best coin identifier app to get an instant reading on their coin’s quality. Because these coins are made of 90% silver, they have an intrinsic “melt value” that acts as a price floor. Even if the coin is heavily scratched or worn, it will always be worth its weight in silver.
However, for collectors, the numismatic value far exceeds the metal content. A 1938 quarter in beautiful, shiny condition represents a piece of American history. If you are unsure about the details of your coin, using CoinHix can help you distinguish between a common pocket piece and a high-value collector’s item. By comparing your coin to known examples, you can better estimate if it belongs in a protective sleeve or a simple glass jar.
The Impact of Silver Content on 1938 Quarter Value
Every Washington Quarter minted before 1965 contains 0.1808 troy ounces of pure silver. This means the 1938 Washington Quarter value is tied closely to the daily spot price of silver. When silver prices rise, the value of even the most damaged 1938 quarter goes up. This provides a “safety net” for people who find these coins in old collections or inherited jars.
As of recent market trends, the silver melt value usually accounts for about $5 to $6 of the coin’s price. However, the 1938 Philadelphia issue is relatively scarce compared to later years like the 1964 quarter, which saw over 500 million minted. The lower mintage of 1938 makes it more desirable to collectors who are trying to complete a “date and mint” set of Washington Quarters.
To get the most accurate 1938 Washington Quarter market price, you should look at recent auction sales and dealer listings. While the silver value is great, the collector premium is where the real money lies. If your coin has a bright luster and no major scratches, it is likely worth significantly more than its bullion weight.
| Metal Component | Percentage |
|---|---|
| Silver | 90% |
| Copper | 10% |
| Total Weight | 6.25 grams |
How to Grade Your 1938 Philadelphia Quarter
Coin grading is the process of determining how much wear and tear a coin has suffered. For the 1938 Washington Quarter, the focal points are Washington’s hair and the eagle’s breast feathers. On a “Good” condition coin, Washington’s silhouette is visible, but the finer details of his hair are worn smooth. The eagle on the back will look like a flat outline.
As you move up to “Fine” and “Extremely Fine,” you will start to see the individual curls of hair above Washington’s ear. The eagle’s wing feathers will also become distinct. The highest value coins are “Uncirculated” or “Mint State.” These coins never made it into public hands to buy groceries or newspapers; they were saved in bank rolls or bags. These coins retain their original “mint luster”—that frosty, satiny sheen that reflects light in a wagon-wheel pattern.
If you are a beginner, checking the 1938 Washington Quarter grade-based value is essential before selling. Professional grading services like PCGS or NGC provide the gold standard in grading, but you can get a very close estimate using the CoinHix app at home. Knowing whether your coin is a “63” or a “65” on the 70-point scale can mean a difference of hundreds of dollars.
Rare Varieties and Errors to Look For
While the 1938 Philadelphia quarter doesn’t have a famous “Doubled Die” like some other years, enthusiasts still search for minor errors. Look for “Clashed Dies,” where the image of the eagle might look faintly impressed on the front side, or the “Re-punched Date” varieties. While these are rare, they can add a nice premium to the standard 1938 Washington Quarter value.
Another thing to look for is “Lamination Errors.” This happens when the silver/copper alloy peels or flakes away from the surface. While some collectors find these distracting, others specialize in error coins and will pay extra for an authentic mint mistake. Most 1938 quarters found in the wild will be standard strikes, but it always pays to have a magnifying glass handy.
If you find a coin that looks “off” or different from a standard quarter, don’t clean it! Cleaning a coin with chemicals or clothes can destroy its value instantly. Collectors prefer original, “dirty” coins over shiny, cleaned ones. If you suspect an error, use CoinHix to compare your coin against high-resolution photos of known errors to confirm your find.
| Condition Category | Visual Indicators |
|---|---|
| Circulated | Flat hair, worn wing tips, dull gray color. |
| About Uncirculated | Trace wear on highest points, some luster remains. |
| Mint State (MS) | Full luster, sharp hair details, no circulation wear. |
Why the 1938 Quarter No Mint Mark is Local History
The lack of a mint mark tells a story of the Philadelphia Mint, the mother mint of the United States. During the late 1930s, the mint was transitioning its production methods. The 1938 mintage of 9,472,000 was actually quite low compared to the years that followed. For example, by 1942, Philadelphia was pumping out over 70 million quarters annually to support the wartime economy.
Because of this lower mintage, the 1938 Philadelphia strike is considered a “semi-key” date by some collectors. It isn’t as rare as the famous 1932-D or 1932-S, but it is certainly harder to find than most silver quarters. Finding one in your grandfather’s old coin box is a lucky break, as many of these were melted down in the 1980s when silver prices spiked to record highs.
Preserving these coins is vital for future generations. If you have a 1938 quarter in good condition, consider placing it in a PVC-free flip or a cardboard 2×2 holder. This prevents “environmental damage” or “toning” that might negatively impact the 1938 Washington Quarter value over time. A well-preserved coin is an investment that grows as the supply of high-grade examples continues to dwindle.
FAQ
Q: Where do I find the mint mark on a 1938 quarter?
A: Turn the coin over to the reverse (back) side. Look at the space directly below the eagle’s tail feathers and above the word “QUARTER.” If the space is blank, it was minted in Philadelphia and is a “No Mint Mark” coin.
Q: Is a 1938 quarter made of real silver?
A: Yes, all Washington Quarters minted from 1932 through 1964 are composed of 90% silver and 10% copper. They are significantly heavier and have a different “ring” when dropped compared to modern clad quarters.
Q: Why is my 1938 quarter worth only $6?
A: Most 1938 quarters found today are heavily circulated. If the coin is worn smooth from years of being used in transactions, it is valued mostly for its silver content and its status as an older date, which typically lands in the $6 to $10 range.
Q: Can I find a 1938 quarter in my change today?
A: It is extremely rare but possible. Most silver coins were pulled from circulation by savvy collectors in the 1960s when the U.S. switched to copper-nickel coins. Today, most “wild” silver finds come from people spending old collections by mistake.
Q: What is the highest price ever paid for a 1938 Philadelphia Quarter?
A: In ultra-high grades like MS-68, a 1938 Washington Quarter can sell for over $10,000 at major auctions. However, coins in this pristine condition are incredibly rare and usually held in private museum-quality collections.