A 1946-S quarter graded MS68 sold for $14,950 at auction — yet most circulated examples are worth just $6–$15 near silver melt. The difference? Mint mark, condition, and knowing the key error varieties. This guide covers all three.
The 1946 Doubled Die Obverse FS-101 is the most sought-after error in this series — and it's often mistaken for post-mint damage. Use this quick checker before you decide what your coin is worth.
Letters on IN GOD WE TRUST and LIBERTY appear as single, clean impressions with no shadow or shelf beside each letter. Washington's portrait details are sharp and unduplicated. Worth $6–$65 depending on grade.
A raised secondary impression — like a ghost or shelf — appears alongside the letters of IN GOD WE TRUST and LIBERTY. The doubling is on both sides of the letters and is clearly raised, not scratched. Well-preserved examples in MS65+ command significant premiums over regular-strike coins.
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Find the reverse of your coin. Look below the olive wreath, above "QUARTER DOLLAR." A letter there is your mint mark.
Check the high points of Washington's hair and cheek. Any flat gray metal = wear. Full luster with no wear = uncirculated.
Check any errors or varieties that apply. If none, leave all unchecked.
If you're not yet sure of your coin's mint mark, condition, or errors, there's a free 1946 Quarter Coin Value Checker with photo upload that can help you identify those details before running the calculator above.
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The 1946 Washington Quarter series includes five documented die varieties and mint errors that command meaningful premiums above silver melt value. This was the first complete postwar production year, and the U.S. Mint was ramping back up to full peacetime capacity — conditions that created a higher-than-average incidence of die-making errors. Each variety below is listed in descending order of collector value.
The 1946 DDO FS-101 stands as the most prominent doubled die obverse error of the entire Washington quarter series for this date. The variety exhibits clear, raised doubling on major obverse design elements, occurring when the working die received multiple misaligned impressions from the master hub during the die-making process.
Collectors identify this error by the unmistakable raised secondary impression visible on the letters of "IN GOD WE TRUST" and the word "LIBERTY." The doubling manifests as a shelf-like raised ledge beside each letter, which distinguishes genuine hub doubling from mechanical doubling (which produces flat, shelf-less doubling) or post-mint damage (which produces flat scratches, not raised metal).
Because the DDO FS-101 is a die variety rather than a one-off error, multiple coins share the same diagnostics — making authentication straightforward for specialists. Well-preserved specimens in MS65 or higher condition command significant premiums, and the variety's clear visual appeal drives strong competition at auction. Attribution confirmation by PCGS or NGC is strongly recommended before paying variety premiums.
The 1946-D/D Repunched Mintmark FS-501 features a Denver "D" mint mark that was manually punched into the working die more than once, with the punch landing at a slightly different position or angle on the second strike. This occurred before 1990, when mint marks were hand-applied using a steel punch and mallet rather than being incorporated into the master hub.
Under magnification, both the primary and secondary "D" impressions are visible — the secondary ghost mark typically appears slightly north, south, or at an angle relative to the primary. The mint mark area shows overlapping impressions rather than a single clean letter, which is the defining diagnostic of any RPM variety.
This variety is identified by PCGS designation #389891 and catalogued as FS-501 in the Cherrypickers' Guide. Coins-value.com identifies it as "the most valuable and sought-after 1946 variety" in the entire series. Its dramatic visual appeal — easily seen under a 10× loupe — and relative scarcity in high Mint State grades drive consistent auction competition. Counterfeits are known to exist; only buy certified examples when paying variety premiums.
The 1946-S/S Repunched Mintmark FS-501 is the San Francisco Mint equivalent of the Denver RPM — a hand-punched "S" mint mark that received a second strike at a slightly different position, leaving overlapping impressions visible under magnification. Given the San Francisco Mint's lower production volume in 1946 (just 4,204,000 quarters), finding a well-preserved RPM example in gem condition is a genuine challenge.
The secondary "S" impression typically appears above, below, or slightly rotated from the primary. Under a 10× loupe on the reverse, the mint mark area shows two overlapping "S" shapes rather than a single clean impression. Early die state coins show the most dramatic repunching; later die state examples can show wear-smoothed overlap that is harder to confirm.
Coin value checker sources report a realized auction price of $3,819 for an MS-67 example of this variety — a dramatic premium over the standard 1946-S at that grade. The combination of the San Francisco Mint's naturally lower mintage, collector hoarding of rolls, and the added scarcity of a documented RPM in gem condition makes this one of the strongest-performing 1946 quarter varieties at the top of the grade scale.
The 1946 DDR FS-801 represents a scarce doubled die reverse variety affecting the back side of the coin. The most notable doubling appears in the inscriptions "UNITED STATES OF AMERICA" and "QUARTER DOLLAR," along with subtle doubling in the eagle's features. This error resulted from the same hub-impression misalignment process that creates obverse doubled dies, but reverse varieties are generally less frequently documented and harder to detect.
The doubling is best observed under proper directional lighting — a raking light source at roughly 30 degrees reveals the raised secondary impression alongside the reverse letters most clearly. Coin graders must distinguish genuine DDR hub doubling (raised secondary impressions) from mechanical doubling (flat, shelf-less shadow) or die abrasion marks. Only the former carries numismatic premium.
This variety is particularly prized by Washington quarter specialists, and high-grade examples in MS65 condition have been documented reaching $1,260 at auction according to CoinValueChecker. The scarcity of high-population-report examples at PCGS contributes to sustained collector interest and strong price competition when examples do appear for sale. Attribution by a major TPG is especially important given the challenge of in-hand diagnostics.
Off-center strikes on 1946 Washington quarters occur when a planchet enters the collar and die assembly misaligned, so the dies strike only a portion of the planchet face. The resulting coin shows the design elements compressed and offset to one side, with a blank crescent-shaped area of unstruck planchet on the opposite side. These are one-time production errors — unlike die varieties, no two off-center strikes are identical.
The most collectible examples are those where the off-centering is dramatic enough to show clearly (typically 10% or more) while the full date remains visible. A date-present, 20–30% off-center 1946 quarter is the sweet spot for maximum collector value. Examples where the off-centering clips part of the date lose significant value because the coin cannot be attributed to a specific year or mint.
Value depends primarily on the degree of misalignment and whether the date and mint mark remain fully visible. Circulated off-centers in the 10–20% range typically trade in the $50–$150 range, while uncirculated examples or those with dramatic 30%+ misalignment can reach $300–$400 or beyond at specialist error coin auctions. Heritage, Stack's Bowers, and GreatCollections are the best venues for these error types.
Run it through the step-by-step calculator to get an estimated value range based on your specific mint mark, condition, and error type.
For a full step-by-step 1946 quarter identification breakdown with grading photos, see this detailed 1946 quarter identification guide and reference. The table below summarizes current market values across all varieties and conditions.
| Variety | Worn (G–F) | Circulated (VF–EF) | Uncirculated (MS60–64) | Gem MS (MS65+) |
|---|---|---|---|---|
| 1946-P (No Mint Mark) | $6 – $9 | $8 – $13 | $17 – $40 | $40 – $420+ |
| 1946-D (Denver) | $6 – $9 | $8 – $13 | $17 – $40 | $32 – $7,200+ |
| 1946-S (San Francisco) | $6 – $9 | $8 – $13 | $17 – $40 | $35 – $7,200+ |
| ⭐ 1946 DDO FS-101 | $20 – $40 | $50 – $120 | $150 – $400 | $400 – $800+ |
| 🔴 1946-D/D RPM FS-501 | $15 – $35 | $40 – $100 | $100 – $360 | $360 – $956+ |
| 1946-S/S RPM FS-501 | $15 – $35 | $40 – $80 | $80 – $250 | $360 – $3,819+ |
| 1946 DDR FS-801 | $20 – $45 | $60 – $150 | $150 – $500 | $500 – $1,260+ |
| Off-Center Strike (10%+) | $30 – $60 | $60 – $120 | $100 – $200 | $200 – $400+ |
⭐ = Signature variety (DDO FS-101) · 🔴 = Rarest Denver variety (D/D RPM FS-501) · Values based on PCGS price guide and auction data; silver melt applies as floor for circulated examples.
📱 CoinKnow lets you photograph your 1946 quarter and get an instant AI-powered grade and value estimate on the go — a coin identifier and value app.
| Mint | Mint Mark | Mintage | % of Total | Gem Survival |
|---|---|---|---|---|
| Philadelphia | None (P) | 53,436,000 | ~80% | Scarce in MS65+ (rolls not widely saved) |
| Denver | D | 9,072,800 | ~13.5% | Moderate in MS65; rare MS67+ |
| San Francisco | S | 4,204,000 | ~6.3% | Most common in Gem — many rolls saved |
| Total 1946 | — | ~66,712,800 | 100% | MS65+ genuinely scarce except 1946-S |
The 1946-S anomaly is one of the most-discussed market quirks in the Washington quarter series. Despite having the lowest mintage at just over 4.2 million, the San Francisco issue is the most common in gem uncirculated condition. Collectors in the late 1940s and 1950s recognized the low mintage figure and saved large quantities of original uncirculated rolls — creating a disproportionately high survival rate in pristine condition. The Philadelphia issue, with over 53 million struck, is paradoxically scarcer in true gem grade because relatively few rolls were set aside.
The condition of your coin is the single biggest value driver — the difference between MS60 and MS67 can be thousands of dollars. Use the grading strip and condition cards below to match your coin.
Washington's hair above the ear and along the cheek is flat and gray. The high points merge together with no definition between individual hair strands. The eagle's breast feathers are mostly smooth. Rim may show slight flatness. Value: near silver melt ($6–$9). These coins circulated heavily for decades.
Significant hair detail remains visible above the ear, but the highest points show slight smoothing or grayness from contact. The eagle's feathers retain good separation. The motto and date are fully sharp. At EF45, only the very tips of the hair strands show wear. Value: $8–$13. Worth grading for silver + collector interest.
No trace of wear anywhere on the coin's surface — all high points retain original luster. However, MS60–64 examples may show bag marks, contact marks, or minor abrasions from contact with other coins in mint bags. The luster may be slightly broken or subdued. Value: $17–$40. Examine under a single-point light source for contact marks.
Full original luster with strong cartwheel effect under moving light. Washington's hair strands and the eagle's feathers are fully struck and sharp. Contact marks are very few, very small, and not in focal areas. Strike is complete with no soft areas. At MS67+, the coin approaches perfection — extremely rare for the Philadelphia issue, more attainable for the 1946-S. Value: $40 to several thousand dollars.
🔎 CoinKnow lets you compare your coin against graded reference examples by scanning it with your phone camera — a coin identifier and value app.
The right venue depends on your coin's grade and variety. A circulated silver quarter needs a different home than a certified MS67 or a DDO FS-101.
Best for certified MS65+ examples, confirmed error varieties (DDO FS-101, RPM FS-501), and any coin worth $200 or more. Heritage attracts the deepest pool of specialist buyers and consistently achieves record prices for gem and error Washington quarters. Submit coins in advance; Heritage handles authentication coordination.
Excellent for mid-grade circulated examples and lower-tier uncirculated coins. Check recently sold 1946 Washington quarter prices and completed listings to set a realistic ask before listing. eBay's massive audience means faster sales but also more competition from other sellers; buy-it-now pricing works well for raw coins graded EF40–MS63.
Ideal for immediate cash without shipping hassle. Shops typically pay 50–70% of retail for circulated silver quarters (close to melt value) and somewhat more for clean uncirculated examples. For a raw coin you believe might be a DDO or RPM, get it attributed first — a local dealer may not recognize varieties and will offer silver melt only.
A free peer-to-peer marketplace with no listing fees and a community of knowledgeable collectors. Works well for mid-range coins with photographic documentation. Buyers tend to be sophisticated enough to appreciate variety attribution, making it a reasonable secondary option for DDO or RPM examples after PCGS/NGC certification.
A circulated 1946 Washington Quarter is worth roughly $6–$15, close to its silver melt value of about $4–$5. In uncirculated condition (MS60–MS65), values rise to $17–$65. Gem examples graded MS67 or higher can bring $200–$4,300+ depending on mint, while the finest known specimens have sold for nearly $15,000 at major auctions. Rare error varieties like the DDO FS-101 and D/D RPM command significant premiums above standard issue coins.
Yes. The 1946 Washington Quarter is composed of 90% silver and 10% copper, giving it a silver weight of approximately 0.1808 troy ounces. This means even a heavily worn example carries a base silver melt value tied to current spot prices. As of 2026, that melt value typically runs between $4 and $5 depending on silver's market price. All three 1946 mint varieties — Philadelphia, Denver, and San Francisco — share this same composition.
The 1946-S has the lowest mintage of the three 1946 varieties at just 4,204,000 coins. Paradoxically, it is the most common in gem uncirculated condition because collectors in the 1940s and 1950s recognized its low mintage and saved large numbers of original uncirculated rolls. Its top auction record stands at $14,950 for an MS68 example sold by Bowers & Merena in January 2011. It only commands strong premiums in the very highest grades where even hoarded supplies are exhausted.
The 1946 Doubled Die Obverse FS-101 is the most prominent error variety in the series. It shows clear doubling on the motto 'IN GOD WE TRUST,' the word 'LIBERTY,' and fine details of Washington's portrait. The doubling occurred when the working die received misaligned multiple impressions from the master hub. Under a 10× loupe, the doubled letters appear as a distinct shadow or shelf effect. Well-preserved examples in MS65 or higher condition command significant premiums over regular 1946 quarters.
The mint mark on a 1946 Washington Quarter is located on the reverse (back) of the coin, centered below the olive wreath, directly above the letters 'R' and 'D' in the word 'QUARTER DOLLAR.' A small 'D' indicates Denver, a small 'S' indicates San Francisco, and no mint mark means Philadelphia. The mark is small but clearly visible under magnification. Philadelphia coins, having no mint mark, are the most commonly encountered variety.
The 1946-D/D Repunched Mintmark FS-501 features a 'D' mint mark that was hand-punched into the working die more than once at slightly different positions, leaving overlapping impressions visible under magnification. This occurred before 1990 when mint marks were manually applied. The variety is identified by a secondary 'D' shadow alongside or partially overlapping the primary impression. PCGS lists this variety as #389891 with an auction record of $576 in MS65 at Heritage Auctions in March 2018.
Despite having over 53 million coins produced — more than twelve times the San Francisco mintage — the 1946 Philadelphia quarter is actually scarcer in gem uncirculated condition. During the 1950s and 1960s, collectors focused on saving rolls of low-mintage dates. The high-mintage 1946 Philadelphia issue was largely overlooked and few uncirculated rolls were preserved. Today, true gem MS65+ Philadelphia examples are genuinely hard to find, making them more valuable at that grade tier than their lower-mintage San Francisco counterparts.
The highest confirmed sale is a 1946-S in PCGS MS68 that realized $14,950 at Bowers & Merena in January 2011. The 1946-D holds an auction record of $13,800 for an MS68 example at Heritage Auctions. The 1946 Philadelphia issue peaked at $8,050 for a PCGS MS67 sold at Heritage Auctions in January 2003. These records underscore how dramatically top-grade specimens outperform circulated examples, which are typically worth only $6–$15 near silver melt value.
Never clean a 1946 quarter or any collectible coin. Chemical cleaning permanently removes original mint luster, leaves hairline scratches visible under magnification, and dramatically reduces numismatic value. A cleaned coin that appears bright and shiny may actually be worth far less than a naturally toned example of the same grade. Professional grading services like PCGS and NGC will note cleaning on the label, which depresses market value significantly. Leave your coin exactly as found and have it evaluated by a numismatist.
For coins worth $50 or more — especially MS65+ examples or verified error varieties — consider having the coin certified by PCGS or NGC before selling. Certified coins achieve stronger prices and attract more buyers. Heritage Auctions and Stack's Bowers specialize in rare coins and attract competitive bidding. eBay reaches the widest audience and works well for mid-grade circulated examples. Local coin shops offer immediate cash but typically pay wholesale. For error varieties, specialist auction venues tend to produce the best results.
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