1934 Quarter Coin Value: Errors List, “D” & No Mint Mark Worth

1934 quarter value ranges from $0.25 face value to $21,850. That record was a Grade 67 example sold through Heritage Auctions in May 2007. If you’re curious what yours could fetch, upload a photo of your coin below for a quick value range. You can also scroll down to see recent eBay sales and what collectors are paying today.

 

1934 Quarter Value By Variety

A $5 quarter and a $500 quarter can look almost identical in this series. The difference comes down to variety. Check the table below for average prices, then jump to the Value Guides section if you already know your coin’s grade.

Also Read: Top 100 Most Valuable Modern Quarter Worth Money (1932 – Present)

 

Top 10 Most Valuable 1934 Quarter Worth Money

The headline coins get all the attention—a 1934-D in PCGS MS-67 sold for $21,850 at Heritage Auctions in May 2007, and a 1934-D Heavy Motto in PCGS MS-67+ brought $20,400 at Stack’s Bowers in April 2024. Those aren’t flukes. Top-grade examples are genuinely scarce, and the market knows it.

But I think the real opportunity sits in the middle market. AU-58 Doubled Dies, MS-64 Heavy Mottos, and properly attributed variety coins have been climbing quietly for a decade. The Doubled Die Obverse alone—with an estimated surviving population of only 251 to 500 examples across all grades—is the rarest documented variety in the 1934 series. Even circulated pieces pull strong premiums.

Heavy Motto examples typically command 10–20% more than Light and Medium Motto coins in comparable grades. That gap gets wider as condition improves. If you’re building a set, these are worth locking down before more collectors catch on.

 

History of the 1934 Quarter

The 1934 Washington quarter was struck right in the teeth of the Great Depression. After Roosevelt’s executive orders restricting gold ownership, Americans started hoarding silver coins. That created a brutal shortage of pocket change. Philadelphia and Denver responded by cranking out over 35 million quarters combined in 1934.

No quarters had been produced in 1931 or 1933, so 1934 marked a comeback after a long gap. The Washington quarter design was only two years old at that point—introduced in 1932 as a one-year commemorative for George Washington’s 200th birthday. It proved so popular the Mint kept it as the standard quarter.

Here’s a fun detail: designer John Flanagan based his portrait on an 1786 marble bust by French sculptor Jean-Antoine Houdon. That bust still stands at Mount Vernon. Flanagan’s “JF” initials sit at the base of Washington’s neck on every coin in the series.

The three motto varieties—Light, Medium, and Heavy—were completely accidental. The Mint’s engraving department tweaked the obverse hub after 1932 to fix weak motto lettering, but die production was inconsistent under Depression-era pressure. The result was three visually distinct versions of “IN GOD WE TRUST” that numismatist David W. Lange later documented in The Washington Quarters of 1934. These varieties went unrecognized for decades. Now they’re among the most actively traded Washington quarter varieties around.

No proof coins were struck in 1934. The proof program was suspended and wouldn’t resume until 1936, so every 1934 quarter is a business strike.

Also Read: Top 30 Most Valuable State Quarter Worth Money (1999 – 2008)

 

Is Your 1934 Quarter Rare?

Die variety is the wild card here. The 1934-D looks common enough in circulated grades, but PCGS founder David Hall has called it “one of the key dates of the Washington quarter series.” Only the 1932-D and 1932-S rank rarer in MS-65 or better. Survival estimates put roughly 3,000 examples of the 1934-D at MS-65 or higher across all grading services combined. That’s not a lot of coins chasing a lot of collectors.

For an instant rarity check on any coin in your collection, the Coin Identifier and Value App provides real-time scoring and ranking data at your fingertips.

 

Key Features of the 1934 Quarter

John Flanagan designed the Washington quarter, which debuted in 1932 and came back in 1934 after skipping a year. Philadelphia produced three motto varieties—Light, Medium, and Heavy—while Denver struck only Medium and Heavy types. No Light Motto 1934-D quarters exist.

The quickest way to tell varieties apart? Look at the “W” in “WE” inside the motto. On the Medium Motto, the center peak of the W sits below the outer diagonal strokes. On the scarcer Heavy Motto, that center peak rises above the outer strokes. PCGS numismatist Gordon Wrubel recommends this as the fastest diagnostic.

The obverse of the 1934 quarter

The 1934 quarter obverse features George Washington’s left-facing profile surrounded by:

• LIBERTY arching above
• 1934 date below
• Light, Medium, or Heavy Motto “IN GOD WE TRUST” to the left
• Flanagan’s “JF” initials at the base of Washington’s neck

The reverse of the 1934 quarter

Flip it over and you’ll find:

• A centrally positioned bald eagle with outstretched wings
• Olive twigs and arrows in the eagle’s talons
• QUARTER DOLLAR below the eagle
• UNITED STATES OF AMERICA along the top rim
• E PLURIBUS UNUM on a ribbon
• The “D” mint mark (Denver) or no mark (Philadelphia), positioned below the wreath knot above “R” in QUARTER

Other features of the 1934 quarter

Every 1934 quarter is 90% silver and 10% copper—same composition used through 1964. Each coin weighs 6.25 grams (0.20094 troy oz) and contains 0.1808 troy ounces of pure silver. Even a beat-up example has real melt value.

Standard specs: 24.3 mm diameter (0.95669 inches), 1.75 mm thick (0.06870 inches), with a reeded edge.

Also Read: Top 20 Most Valuable 1776-1976 Bicentennial Quarter

 

1934 Quarter Mintage & Survival Data

Philadelphia struck 31,912,052 quarters in 1934. Sounds huge, right? But only about 1.8% survive today. Denver’s output was just 3,527,200 with an 8.5% survival rate—yet that still leaves far fewer total coins than you’d guess from Philly’s big number.

These were workhorse coins in a Depression economy. People spent them, wore them down, and eventually they got melted or lost. Even the Philadelphia issue gets genuinely scarce once you focus on problem-free examples grading AU-58 or better.

The 1934-D’s low mintage makes it third on the all-time Washington quarter rarity list in Gem condition—behind only the 1932-D (mintage: 436,800) and the 1932-S (mintage: 408,000). Finding a 1934-D above XF-40 takes real searching. Mint state examples are legitimately rare.

Also Read: Top 100 Most Valuable Washington Quarter Worth Money (1932 – 1998)

 

The Easy Way to Know Your 1934 Quarter Value

Your 1934 quarter’s value hinges on mint mark and variety. Philadelphia coins start around $8–$13 in average condition. Denver pieces run higher. Top-grade or variety examples can hit thousands. Sorting out motto types, grades, and population reports usually takes serious numismatic homework.

The Coin Identifier and Value App simplifies this process with advanced image recognition technology—simply photograph your 1934 quarter to instantly receive accurate variety identification, grade estimates, and real-time market valuations.

 

1934 Quarter Value Guides

There’s more variety in the 1934 quarter series than most collectors realize—and that’s where the big price gaps hide. Condition matters, but motto type and mint mark create the most dramatic swings.

1934 No Mint Mark (Philadelphia)

• 1934 Light Motto – Weak, mushy “IN GOD WE TRUST” impression (also called “Type of 1932”)
• 1934 Medium Motto – Standard letter depth; W’s center peak sits below outer strokes (also called “Type of 1935”)
• 1934 Heavy Motto – Bold, deeply struck motto; W’s center peak rises above outer strokes (also called “Type of 1936”)
• 1934 Doubled Die Obverse – Dramatic doubling on lettering; only 251–500 examples estimated to survive

1934-D (Denver Mint)

• 1934-D Regular Strike – No Light Motto known; Medium and Heavy Motto only
• 1934-D Heavy Motto – Rarer than the Philadelphia Heavy Motto; finest known is a single PCGS MS-67

These aren’t minor differences. They’re distinct die states that grading services actively recognize and attribute. The fact that they were born from Depression-era production chaos is what makes them so interesting to collect.

 

1934 Quarter Value No Mint Mark (Light Motto)

Most dealers ignored this variety for decades. That changed when a Light Motto in PCGS MS-67 sold for $8,813 in 2014—a wake-up call for anyone who’d been passing over these coins.

The Light Motto—also cataloged as the “Type of 1932″—came from under-hubbed dies that went into production without enough motto detail. The lettering in “IN GOD WE TRUST” looks mushy and indistinct, sometimes fading on the right side. Variety specialists started cataloging these die states in the 1950s and 1960s, but mainstream recognition took much longer.

Here’s what these have actually sold for at auction recently.

The Light Motto has been building a quiet following among variety collectors.

Market activity score: 54/100 as of Sep 2026 — down 4 points from Jun 2026. 12-month peak: 58 (Jun 2026).

 

1934 Quarter Value No Mint Mark (Light Motto FS-401)

Can you spot the difference between a regular Light Motto and an FS-401? Look at the “W” in “WE”—it appears incomplete. And “TRUST” fades dramatically on the right side. These features are so pronounced they earned a dedicated Cherrypickers’ Guide catalog number.

The Fivaz-Stanton (FS) catalog is the go-to reference for die varieties in U.S. coinage. PCGS and NGC both use it for attribution. A true FS-401, fully attributed and slabbed, carries a meaningful premium over generic Light Motto examples, especially above VF-20. This is a great cherrypicking target if you’re sorting through raw coins.

Auction results tell you exactly what the market pays for properly attributed examples.

Serious variety collectors have been chasing this one hard.

Market activity score: 38/100 as of Sep 2026 — unchanged since Jun 2026. 12-month peak: 45 (Dec 2025).

 

1934 Quarter Value No Mint Mark (Medium Motto)

Think the “standard” variety can’t bring serious money? A Medium Motto in PCGS MS-68 set an auction record of $15,275. That’s the highest price for any motto type in the Philadelphia series.

The Medium Motto—also called “Type of 1935″—is what the Mint intended: clear letters, balanced depth, proper hub impression. It’s the baseline that makes the Light and Heavy varieties meaningful. Most collectors skip right past properly attributed Medium Motto examples, which makes them quietly tough to source in gem grades.

Here’s how the market has priced these across recent sales.

The Medium Motto has carved out its own collector base between its Light and Heavy siblings.

Market activity score: 67/100 as of Sep 2026 — up 9 points from Jun 2026. 12-month peak: 79 (Aug 2026).

1934 Quarter Value No Mint Mark (Medium Motto FS-402)

The FS-402 is the textbook Medium Motto strike—the reference standard variety specialists use to calibrate their Light and Heavy identifications. Every letter in “IN GOD WE TRUST” shows perfectly balanced impressions with no lean toward either extreme.

Here’s the catch: most Medium Motto quarters lean slightly toward Light or Heavy characteristics. A true FS-402 in MS-65 or above is a legitimate rarity. You need patience and a good loupe to confirm one.

Auction data shows how the market separates these from regular Medium Motto coins.

Variety collectors chasing complete FS sets have pushed demand for this one noticeably higher.

Market activity score: 35/100 as of Sep 2026 — unchanged since Jun 2026. 12-month peak: 37 (May 2026).

 

1934 Quarter Value No Mint Mark (Heavy Motto)

Pick up a Heavy Motto and a Light Motto side by side. The difference jumps out immediately. Every letter in “IN GOD WE TRUST” looks thick, sharp, and deeply punched. The telltale sign: the center peak of the “W” in “WE” rises visibly above the outer strokes.

Cataloged by PCGS CoinFacts as the “Type of 1936,” this variety went largely unnoticed until the 1970s when dedicated collectors started systematically documenting 1934 die states. A Heavy Motto in PCGS MS-67 sold for $9,400 in 2022. Heavy Motto examples routinely command 10–20% premiums over comparable Light and Medium Motto coins.

Auction records show how values have shifted as more collectors recognize this variety.

The bold look of the Heavy Motto keeps pulling in new collectors every year.

Market activity score: 75/100 as of Sep 2026 — up 17 points from Jun 2026. Currently at its 12-month peak.

1934 Quarter Value No Mint Mark (Heavy Motto FS-403)

This is the poster child of the Heavy Motto type. The FS-403 shows letters so bold they look almost three-dimensional, with visible die polish lines confirming the heavily prepared dies. Genuine examples with all diagnostic markers intact are among the hardest 1934 Philadelphia varieties to track down.

Get authentication from PCGS or NGC before you pay FS-403 money. A standard Heavy Motto misidentified as FS-403 can lead to serious overpaying.

Here’s what top variety collectors have been paying for properly attributed FS-403 specimens.

More collectors are waking up to this die state every year.

Market activity score: 45/100 as of Sep 2026 — up 2 points from Jun 2026. 12-month peak: 48 (Aug 2026).

 

1934-D Quarter Value

Only 3,527,200 struck. That makes the 1934-D the scarcest regular-issue Washington quarter of the entire 1930s. PCGS founder David Hall puts it bluntly: “While not particularly rare in circulated grades, this is a scarce coin in mint state and a rare coin in Gem condition. In fact, only the 1932-D and 1932-S are rarer in MS65 or better.”

Survival estimates put only roughly 3,000 examples at MS-65 or above across all major grading services. Look for the “D” mint mark on the reverse below the wreath knot, above the “R” in QUARTER—it frequently shows weakness from worn dies. The auction record stands at $21,850 for a PCGS MS-67 sold by Heritage Auctions in May 2007.

Recent sales show this date has firmly established itself as a key coin in the modern market.

That Denver mint mark adds a layer of scarcity collectors are actively chasing.

Market activity score: 46/100 as of Sep 2026 — up 4 points from Jun 2026. 12-month peak: 68 (Nov 2025).

 

1934-D Heavy Motto Quarter Value

We think this is one of the most compelling variety coins in the entire Washington quarter series. You get Denver’s limited production combined with a scarce die state—a double threat. According to PCGS CoinFacts, the finest known among all certified 1934-D Heavy Motto examples is a single PCGS MS-67. True gems are essentially unique.

Most of Denver’s small production run used standard Medium Motto dies. The Heavy Motto pieces came from fresh, aggressively prepared dies that struck dramatically bold “IN GOD WE TRUST” lettering. Unlike Philadelphia Heavy Mottos—which are scarce—the 1934-D Heavy Motto is genuinely rare. The auction record reached $20,400 for a PCGS MS-67+ example at Stack’s Bowers in April 2024.

Watch how this variety consistently outperforms regular 1934-D quarters across all grades.

The 1934-D Heavy Motto ranks among the most sought-after Washington quarter varieties. This Denver-minted Heavy Motto combination has been one of the most actively traded variants in recent years.

Market activity score: 78/100 as of Sep 2026 — up 27 points from Jun 2026. 12-month peak: 81 (Aug 2026).

Also Read: What Quarters Are Worth Money

 

Rare 1934 Quarter Error List

Condition gets all the attention, but the real action in 1934 quarters often comes from documented errors and die varieties. These minting anomalies can turn a common-date coin into something worth multiples of a standard strike. Several went unrecognized for decades before variety specialists brought them to light.

1. 1934 Doubled Die Obverse Errors

This is the big one. The 1934 Doubled Die Obverse (DDO) is the most dramatic doubled die error in the entire Washington quarter series. Only an estimated 251 to 500 examples survive across all grades. That’s not just scarce—it’s genuinely rare.

You can see the doubling without magnification on “IN GOD WE TRUST” and “LIBERTY.” The date “1934” also shows strong doubling under a loupe. The error happened when the working die took multiple hub impressions at slightly different angles. In circulated condition, values range from approximately $45 to $650. Uncirculated examples command $925 to $10,750 or more. The auction record is $10,350 for an MS-65 example sold in 2005.

For instant authentication of suspected doubled die varieties, our Coin Identifier and Value App provides detailed error identification tools to help you spot these valuable anomalies.

 

2. 1934 DDO (FS-101) Errors

The FS-101 is the strongest doubled die obverse variety for 1934, cataloged in the Fivaz-Stanton reference guide—the standard reference PCGS and NGC use for die variety attribution.

This one shows heavier doubling than other 1934 DDO examples, making it the most desirable of the bunch. Look for clear separation lines in the motto letters and visible spreading in the date digits. Both PCGS and NGC now specifically attribute FS-101 examples, which adds certification credibility and makes them easier to sell.

3. 1934-D Small D FS-501 Hvy Motto Errors

This is the triple threat of 1934 quarter collecting: Denver’s limited mintage, the Heavy Motto hub, and a noticeably smaller “D” mint mark punch than standard 1934-D quarters. Everything had to go right—or wrong, depending on your perspective—to create this coin.

The small “D” came from Denver using an older, smaller punch tool during production. Nobody noticed until variety specialists started examining the series systematically. With perhaps only a few hundred examples surviving across all grades, a properly attributed FS-501 is an exceptional find at any condition level.

Also Read: 20 Rare Washington Quarter Errors Worth Money (Full List with Pictures)

 

Where to Sell Your 1934 Quarter

Now that you know the value of your coins, do you know where to sell those coins online easily? Don’t worry, I’ve compiled a list of these sites, including their introduction, pros, and cons.

Check out now: Best Places To Sell Coins Online (Pros & Cons)

For high-value pieces—any 1934-D in MS-65 or better, any attributed DDO, or any FS-designated variety—major auction houses like Heritage Auctions, Stack’s Bowers, and GreatCollections will reach the largest pool of serious buyers. For mid-range coins ($50–$500), authenticated eBay listings from sellers with strong ratings work well. For common circulated examples near melt value, your local coin shop or a bullion dealer is the fastest option.

 

1934 Quarter Market Trend

Market interest: 2,180 collectors tracking this coin as of Sep 2026 — up 900 from Mar 2025. Currently at its 12-month peak.

*Market Trend Chart showing the number of people paying attention to this coin.

 

FAQ About the 1934 Quarter Value

1. What makes a 1934 quarter rare?

Variety and condition. Philadelphia struck three motto types—Light, Medium, and Heavy—while Denver made only Medium and Heavy. The 1934-D ranks third-rarest in MS-65 or better behind the 1932-D and 1932-S. The Doubled Die Obverse, with only an estimated 251–500 surviving examples, is the rarest single variety in the entire 1934 production.

2. How much is a 1934 quarter from Philadelphia worth?

It depends on motto type and grade. Light Motto examples range from roughly $6–$25 in circulated grades to $35–$8,813 in mint state (the MS-67 auction record reached $8,813 in 2014). Medium Motto coins run $6–$13 circulated, up to $15,275 at MS-68. Heavy Motto pieces start at $5–$30 circulated and climb to $9,400 and beyond in MS-67. All are 90% silver with a melt value floor around $5–$6 at current silver prices.

3. What is the priciest quarter with Washington on the obverse?

The all-time record is the 1932-D in MS-66, which sold for $143,750 at Bowers & Merena in April 2008. For the 1934 series specifically, the top realized price is $21,850 for a 1934-D PCGS MS-67 at Heritage Auctions in May 2007. Other notable Washington quarter records include a 1932-S MS-66 at $45,500 (David Lawrence RC, 2020), a 1948 MS-68+ at $43,200 (Stack’s Bowers, 2021), and a 1950 Proof-68 at $31,200 in 2022.

4. How do I tell the difference between Light, Medium, and Heavy Motto on a 1934 quarter?

Zero in on the “W” in “WE” inside the motto. On the Light Motto, all letters look mushy and shallow. On the Medium Motto (Type of 1935), letters are clearer but thin, and the W’s center peak sits below the outer diagonal strokes. On the Heavy Motto (Type of 1936), letters are thick and bold, and the center peak of the W rises visibly above the outer strokes. That’s the fastest single diagnostic, recommended by PCGS numismatist Gordon Wrubel.

5. Does a 1934 quarter have any silver in it?

Yes. Every 1934 quarter is 90% silver and 10% copper, containing exactly 0.1808 troy ounces of pure silver. At silver prices around $30–$35 per ounce, the silver alone is worth approximately $5.50–$6.50 before any collector premium. All Washington quarters dated 1964 and earlier share this composition.

6. What is the 1934 Doubled Die Obverse and how rare is it?

The 1934 DDO is the most dramatic doubled die error in the entire Washington quarter series. Only an estimated 251 to 500 examples survive across all grades. You can see the doubling without magnification on “IN GOD WE TRUST,” “LIBERTY,” and the date. Circulated examples are worth $45–$650; uncirculated pieces command $925–$10,750 or more. The auction record stands at $10,350 for an MS-65 example sold in 2005. The FS-101 is the specific Fivaz-Stanton attribution for the strongest-doubling DDO example.

7. How rare is the 1934-D quarter in mint state condition?

Legitimately rare. Survival estimates suggest only approximately 3,000 examples grade MS-65 or higher across all major grading services combined. PCGS founder David Hall has written that only the 1932-D and 1932-S are rarer in Gem condition. Finding problem-free examples above XF-40 requires real searching, and the “D” mint mark often shows striking weakness from worn Denver dies—making sharp, full-detail examples especially desirable.

8. Were any 1934 quarters made as proofs?

No. The Mint didn’t produce proof coins of any denomination in 1934. The proof program was suspended and didn’t resume until 1936. Every 1934 Washington quarter is a business strike. No Deep Cameo or Cameo proof designations exist for this date.

9. What is the 1934-D Small D FS-501 variety and why is it valuable?

The FS-501 is a triple-rarity: Denver’s limited 1934 mintage, the Heavy Motto die state, and a noticeably smaller “D” mint mark punch than standard 1934-D quarters. The smaller “D” came from Denver using an older mint mark tool during production. Fully attributed FS-501 examples are extremely scarce, with perhaps only a few hundred surviving in all grades—making them the single rarest variety within the already-scarce 1934-D issue.

10. Should I clean my 1934 quarter before selling or grading it?

Never. Cleaning permanently damages the original surface luster and will get your coin a “details” grade from PCGS or NGC instead of a clean numeric grade. That kills the value. Even light polishing or wiping with a cloth leaves hairline scratches visible under magnification. A 1934 quarter with original, honest-wear surfaces is always worth more than a cleaned example of the same apparent condition. Store your coins in inert plastic holders or flips, away from humidity and direct contact with other coins.