Options
Shrinking pricing on the 1932-D 25c
logger7
Posts: 9,708 ✭✭✭✭✭
http://www.pcgscoinfacts.com/Coin/Detail/5791
I saw a 1932-D quarter certified as AU58 by NGC earlier; the dealer wanted $500 saying it has come down a lot on price. What are these really worth, and is it necessary for the coin to pass muster with cac to be worth strong money? What would you look for in a good example?
0
Comments
They have come down a lot on price. $500 is definitely in the ballpark and reasonable depending on what it looks like.
Need a picture.
I would characterize it as average, toned, light friction; surface preservation good with some chatter. I looked at what they have been selling for and five c notes seems like a lot.
I've been really surprised by the crashes in price, for circ's anyway, on the D and S of this date. After the state quarter program, I thought these 'keys' would scream......Years later, my imagination stands corrected.
Interest in the Washington Quarter series seems to have declined in recent years. While the 1932-D and S are considered to be the keys neither can actually be called scarce or rare. Be selective when buying one of these and don't be generous.
That's a coin I might be looking for pretty soon in MS.
cac is an illusion. Value of any coin is in the eye of the beholder. A quality 58 should have superior eye appeal to an ms60-62.
They did scream for awhile but it was had a short life!
The Washington Quarter series peaked in collector interest while the State Quarters were issued. Since the conclusion of that series, interest has waned. It is no surprise that prices have declined for the Washington Quarter series.
On a personal note the Washington Quarter was the one modern coin that never peaked my interest when I was kid collector in the 1960s. I thought that the obverse was uninspired, and the reverse looked cluttered.
The 32-D is only rare relative to other Washington Quarters but is available in handfuls at any decent show. I would imagine coins like this will continue to decline in price for the foreseeable future.
Latin American Collection
One can afford to be selective when seeking this coin.... Interest has waned and prices can be negotiated. Cheers, RickO
I'm not sure "illusion" is the right word. CAC continues to make a significant difference in market price. It is no more or less an illusion than a PCGS or NGC slab. After all, the plastic coffin doesn't change the underlying coin at all. But the MARKET, who is always the Queen, values the PCGS slab more than the NGC slab more than the ICG slab...even if it is the same coin in all 3 slabs. It is what it is.
The Market is a fickle Queen, however, and I agree with you that one should judge based on the coin itself. But I would also say that one should never buy a coin assuming its value will increase or even stay over any long time frame. Buy it because you like it and if it's worth anything when you need to sell it, it's a bonus.
[Side note: I think collectors of modern 70 coffins are going to be in for a rude awakening 20 years from now. IMHO, of course.]
All comments reflect the opinion of the author, even when irrefutably accurate.
RE: "On a personal note the Washington Quarter was the one modern coin that never peaked my interest when I was kid collector in the 1960s. I thought that the obverse was uninspired, and the reverse looked cluttered."
Absolutely! Or maybe the reverse was really a bat hanging upside down.
Curious that when the obverse portrait was finally accepted, Flanagan's original reverse, a nest of eagles, was rejected and he had to make a new, ugly, cluttered design. The only reason for choosing his Washington portrait for the coin was that L. Fraser had already won the more prestigious medal competition, and Treasury did not want to award the two top prizes to the same artist.
Many did not have to wait 20 years to get creamed on 70 holders.
I almost purchased a 32-D about 5-6 months ago but was not 100% in love with it. I have been watching this date and noticed the exact thing you're pointing out about how they are dropping in price. Glad I didn't pull the trigger then.
prices on "key date" coins like that have been moving down for probably 5-7 years now in lower grades. about 1-2 years ago a friend of mine was a little bummed out about how far prices were down and I suggested that he should sell then instead of waiting for an even further drop. I would say they same to anyone now, it's better to lose a little than to hold out and lose even more.
True...and yet they still buy them.
All comments reflect the opinion of the author, even when irrefutably accurate.
what about collectors who have invested in PR69DC and, worse yet, PF69UC ASE's??? prices on Proof ASE's are down more than 30% so I assume those guys are not happy.
Hook, line and sinker.:(
Holy Cow! @RogerB, have you found documentation that lists the reason for the winning entry going to Flanagan instead of Fraser? If so, I would love to see it. If not, I would love to read your reasons for writing this as a statement of fact.
In honor of the memory of Cpl. Michael E. Thompson
There are plenty available but I pretty much gave up on finding a nice 32-D because so many of them are just plain ugly (with or without CAC). With prices dropping, the nice ones will be even harder to find now.
& they might be up the creek w/o a paddle.
Well at least it has bullion value as floor. Not so an MS70 Clad .
RE: "If so, I would love to see it."
This material is among Fraser letters in the National Cowboy & Western Heritage Museum in Oklahoma City in Oklahoma City. My copies are in the storage locker at present. You can likely find the letters on the museum's website. Also, see NARA RG104 Entry 328-I, Box 2, Washington quarter, folder 4, memorandum titled "Fine Arts Commission and the Washington Quarter-Dollar Design." This describes the sequence of events and nots the Secretary's objections to CFA approval of Fraser's design as related to the CFA seemingly oversteppng it's prerogatives. When I find the rest I'll post it.
As of often the case, there was not one definitive reason for rejection of Fraser's quarter design, but a combination of several factors including the Secretary's personal opinion.
FWIW, if the Treasury Secretary was Andrew W. Mellon, he did know just a little bit about fine art. More than the average bear.
Weren't 32-D and S quarters frequent targets of "key hoarders"?...we are reaping what they have sown. Maybe not in 58, but in many circ grades.
The lower number of collectors in the marketplace has had a negative impact on prices, especially in the WQ series.
Coins trading near BV will see upward movement. I am currently seeking pcgs MS 63 and 64 Saint around BV plus 5 pct. or so coins must be have nice Luster with no spots no sticker necessary.
I didn't have enough "working capital" to collect quarters when I was a kid!!
I regularly see RAW on GSC. They seem to sell for good $$, but they might be recirculated (not uncirculated:):) I do not have one for my set, but I collected my set out of circulation........not sure to define my set as a collected set or a a bought set.
OINK
@RogerB thank you for taking the time to respond. I have been to the National Cowboy & Western Heritage Museum website many times and have never found links to the material posted. It is unfortunate, since they apparently have a wealth of information that is not yet digitized. Similarly, the Syracuse University Libraries appear to have quite a bit of information, but nothing that I can access online.
In honor of the memory of Cpl. Michael E. Thompson
I don’t know much about WQs but there always seems to be plenty of 32-Ds around at every show and in every auction.
I keep looking for a '32-D Washington in the junk bins of the local bullion dealers, but no luck yet. I have pulled 2 '32-S' so far though. It would be fun to assemble a complete circulated set at melt.
Guess I bought mine before the upswing/downswing. I paid 50 bucks each for VF/XF pieces for my Whitman bookshelf album. Maybe that is where they are headed again?
10-4,
My Instagram picturesErik
My registry sets
Many museums and libraries have collections that are not digitized (too expensive) or properly cataloged. The National Cowboy & Western Heritage Museum has all the original Fraser materials; Syracuse has copies, except for a few letters. The folks in Oklahoma have been alternatively generous and parsimonious with access to the collection. Since they have the large Fraser plaster in their entrance, they tend to be somewhat insular and over-protective (in my opinion).
When I dig out my copies, I'll let you know.
I started building the 1932 to 1964 Variety Set of Washington Quarters going on four years ago and still have not purchased the 1932 D or S. My set will hit 60 percent complete in the next week and in the beginning folks used to always say buy the Keys first.
I watched what the plus system did to this series and just knew that the prices for most of these coins were going to take a Big Hit. Most of the MS 67 coins have dropped like a rock in the past 5 Years and I decided to just start picking up the Varieties First and have now recently started to buy MS 67 Regular Coins.
Someday I will buy MS 1932 D and S when I come across a coin that talks to me. The one thing I have learned is to not be in a hurry to buy any coin and there are a lot of Dogs out there that I have passed on. This is a 185 coin set and the object in the beginning was to not be buried in the coins I buy.
That does not mean buying a dog for cheaper but to wait for a example that I thought would upgrade for a Good price. You have to have a certain passion to build a Registry set and my goal of ten years is still do able. After I die my nephews will sell off all my sets, and they will profit from the sales. So for me I am not too worried about losing money after I am gone. It was about having fun building a set which include the Key Coins. Are we at the Bottom Yet, I do not know.........
Enjoy Tom
https://pcgs.com/SetRegistry/quarters/washington-quarters-specialty-sets/washington-quarters-complete-variety-set-circulation-strikes-1932-1964/publishedset/78469
I used to be famous now I just collect coins.
Link to My Registry Set.
https://pcgs.com/setregistry/quarters/washington-quarters-specialty-sets/washington-quarters-complete-variety-set-circulation-strikes-1932-1964/publishedset/78469
Varieties Are The Spice Of LIFE and Thanks to Those who teach us what to search For.
That 1935 66 is stunning. Looks like your off to a great set.
Best place to buy !
Bronze Associate member
In the coin shops there is maybe one collector who want to put together a silver set in average circulated grades for every 100 complete sets that are sold and broken up. The broken up sets go mostly into the silver meltage except for the 1932-d and 1932-s.
If this continues to its logical conclusion, the 1932-D and 1932-S will be more available than the higher mintage dates that got heavily melted.
Also, the internet has made them more common. All you need is the money and you can find one. If sellers want to move them out quicker, they will lower their price to below the catalog values. This will then lower the catalog values further. Repeat and rinse.
If you look at the PCGS AU58s that sold recently, they are awful. They have heavy hits and are not true AU58. Look at the NGC that sold for $541. That's what a AU58 should look like.
I completed my album set all at melt except for 32 d and s. Finally gave in and bought a circulated d and s to fill the set for 75 total. Now I'm slowing upgrading one at a time when i see the right price. Just got my proof 1950 for $30 recently.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
I'm sitting on an almost complete set I inherited from an uncle and every time I look at maybe I should finish it I think not yet .
The state quarters and then the ATB actually killed this series . It was bland to begin with but flogging the daylights out of it with all these different utterly forgettable designs has turned it into a dumpster fire.
My theory had been stop buying and wait for prices to come down. But my rapidly maturing long term view is sell sell sell and never look back.
A good start Tommy, like your 1932:
Somehow when higher Unc. grade 32-p coins come up they are not brilliant Unc.s even at gem and above.
I picked this one up a week ago at the local coin shop for $8:
