1939 Quarter Value Checker: Errors List, “D”, “S” & No Mint Mark Worth

1939 quarter value ranges from $0.25 face value to $30,000. That record was a Grade 68 example sold through Heritage Auctions in May 2023. To find out what yours is worth, upload a photo of your coin below for a quick value range. You can also scroll down to check recent eBay sales and see what collectors are paying today.

 

1939 Quarter Value By Variety

Here’s what all four 1939 Quarter varieties are selling for right now, from well-worn Good condition up through Mint State and Proof grades. If you already know your coin’s grade, jump down to the Value Guides section for exact pricing.

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

 

Top 10 Most Valuable 1939 Quarter Worth Money

The coin sitting at the top of this list is a 1939 Proof graded PR68 CAM. That “CAM” means Cameo—a frosted portrait popping against mirror-like fields. It sold at Heritage Auctions in 2021 for approximately $14,400. Only a handful exist at that grade, and bidding was fierce.

Below the proofs, top-pop business strikes hold their own. A 1939-S in MS67 brought around $2,640 at Heritage Auctions in 2019, and a 1939-D graded MS68 realized approximately $3,840 at Stack’s Bowers in 2020. CAC approval stickers and provenance from well-known collections push prices even higher.

 

History of the 1939 Quarter

By 1939, the Washington quarter design was seven years old—but the backstory behind it still stings a little. Sculptor Laura Gardin Fraser actually won the original design competition in 1932. Treasury Secretary Andrew Mellon overruled the judges and picked John Flanagan’s portrait instead. Fraser’s design didn’t appear on a coin until decades later.

Flanagan’s left-facing Washington on the obverse and heraldic eagle on the reverse had become the standard by ’39. All three active mints were cranking them out.

Every 1939 quarter is 90% silver and 10% copper, containing exactly 0.1808 troy ounces of pure silver. That gives each coin a melt value floor around $4.50–$5.00 at current silver prices—your coin won’t drop below that regardless of wear.

Philadelphia led production with over 33.5 million coins. Denver made around 7.09 million. San Francisco struck only 2.63 million—the scarcest regular issue by a wide margin. Mint marks sit on the reverse, below the eagle.

The Philadelphia Mint also struck just 8,795 proof quarters that year. These got two strikes from polished dies at slower press speeds, bringing up every last detail. They were sold to collectors in cellophane packaging.

Here’s a fun detail: the Mint suspended proof coinage entirely from 1943 to 1949 because of World War II. That makes the 1939 Proof one of the last pre-war proof quarters before a seven-year gap—genuinely historic pieces.

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

 

Is Your 1939 Quarter Rare?

The rarity rankings here might surprise you. The Proof had the smallest mintage at 8,795 coins, yet nearly 80% survived because collectors saved them from day one. Meanwhile, the 1939-S had 2.63 million struck but only about 10% made it—and almost none in gem grades. So the “rarest” coin by mintage isn’t necessarily the hardest to find. The 1939-S in MS67 is far tougher to locate than a Proof in PR65. Mintage alone doesn’t tell the whole story.

For real-time rarity assessments and comparative analysis across different Washington Quarter dates, our Coin Identifier and Value App provides instant scarcity rankings to help guide your collecting decisions.

 

Key Features of the 1939 Quarter

Flanagan’s design was only seven years into its run in 1939. Three mints struck business coins, and Philadelphia added a tiny proof run. Here’s how to visually identify and authenticate yours.

The Obverse of the 1939 Quarter

You’re looking at George Washington’s left-facing portrait. “LIBERTY” curves along the upper left rim, “1939” sits at the lower right, and “IN GOD WE TRUST” appears below Washington’s chin. Look at the base of the neck truncation for Flanagan’s tiny raised initials “JF.”

When grading, focus on the hair above Washington’s ear and the cheek. Those high points wear first. Sharp curls there mean a higher grade and more money in your pocket.

The Reverse of the 1939 Quarter

Flip it over. You’ll see a heraldic eagle with outstretched wings, arrows in the left talon, olive branch in the right. “UNITED STATES OF AMERICA” curves along the top, “QUARTER DOLLAR” sits at the bottom, and “E PLURIBUS UNUM” runs across a ribbon above the eagle.

The mint mark is directly below the eagle’s tail feathers. D means Denver, S means San Francisco, blank means Philadelphia. Check there first—it’s the single most important step in identifying your variety.

Other Features of the 1939 Quarter

Every 1939 quarter shares these physical specifications regardless of mint:

The coins weigh exactly 6.25 grams (0.20094 troy ounces) with a diameter of 24.3 mm (0.955 inches) and a thickness of 1.75 mm (0.069 inches). Each coin has a reeded (ridged) edge with exactly 119 reeds. The 90/10 silver-copper composition means each coin contains precisely 0.1808 troy ounces of pure silver—that’s the figure used to calculate melt value.

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

 

1939 Quarter Mintage & Survival Data

The survival numbers tell a counterintuitive story. The 1939 Proof had the tiniest mintage at just 8,795 coins, yet roughly 7,000 still exist—a 79.59% survival rate. Collectors knew these were special and tucked them away immediately.

Business strikes? About 10% survival across all three mints. For the 1939-S, that 10% of 2.63 million means roughly 263,000 coins exist in any condition. That sounds like a lot until you realize only a tiny fraction grade above MS65. I think that’s why the high-grade premiums on this date are so justified—the pool of top-quality survivors is genuinely tiny.

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

 

The Easy Way to Know Your 1939 Quarter Value

Start by flipping the coin to the reverse and finding the mint mark below the eagle—that one check tells you which of the four varieties you have. Then look at Washington’s hair detail and cheek on the obverse. Sharp, fully defined curls mean a higher grade and higher value.

Check the eagle’s breast feathers and wing lines too. Flat, mushy breast feathers mean heavy circulation. For potential proofs, look for mirror-like fields and frosted devices—that contrast is what earns the valuable CAM or DCAM designation.

Use our Coin Identifier and Value App to instantly grade your coin with AI-powered photo analysis and get accurate valuations in seconds!

 

1939 Quarter Value Guides

Four varieties, four very different collecting opportunities. Here’s the complete 1939 lineup:

• 1939 No Mint Mark (Philadelphia)
• 1939-D (Denver Mint)
• 1939-S (San Francisco Mint)
• 1939 Proof (Philadelphia)

Each one has different mintages, different strike characteristics, and different demand. The value spreads between grades are wider than most collectors expect, so condition is everything.

 

1939 No Mint Mark Quarter Value

Here’s a tip if you’re building a type set on a budget: the 1939 Philly quarter is your best friend. With 33,548,795 struck, it’s the most common variety by far. But Philadelphia’s quality control was excellent that year—sharp strikes, nice luster across the board. That means gem examples are surprisingly affordable compared to scarcer dates.

Circulated pieces in Good (G-4) to Fine (F-12) run about $7–$12, basically silver value. The jump happens in uncirculated grades. An MS65 goes for roughly $85–$100. Push up to MS67 and you’re looking at $500–$700 or more, depending on eye appeal and bag marks.

Auction results have been consistent across all grades for this variety.

Market activity stays healthy year-round, with solid turnover in both circulated and slabbed uncirculated pieces.

 

1939-D Quarter Value

A 1939-D in MS68 sold at Stack’s Bowers in 2020 for approximately $3,840. That’s the kind of number that makes you look twice at every Denver quarter in a junk silver bag.

Denver struck 7,092,000 quarters in 1939—about one-fifth of Philly’s output. What’s interesting is the strike quality. Denver rivaled Philadelphia for detail and luster that year, yet you pay a real premium for the lower-mintage “D” mint mark. In Good condition, expect $7–$12. MS65 examples sell for $100–$150, and the price curve steepens fast above that.

The bold, well-positioned “D” mint mark makes authentication easy, which dealers and PCGS/NGC both appreciate.

The 1939-D has been a consistent performer at auction among Washington Quarter specialists.

Collectors actively chase high-grade examples for type sets and date runs.

 

1939-S Quarter Value

Only 2,628,000 struck. That’s the number that puts the 1939-S on every Washington Quarter collector’s want list. It’s a semi-key date—scarcer than most, though not in the rarefied territory of the 1932-D or 1932-S.

San Francisco coins from this year have a slightly different look. Collectors often describe the luster as more “satiny” compared to the Philly or Denver strikes. Combined with the low mintage, that makes gem survivors genuinely hard to find. PCGS population data shows fewer than 20 examples graded MS67. One of those sold at Heritage Auctions in 2019 for approximately $2,640.

Circulated pieces start around $10–$15 in Good condition. MS65 examples typically bring $175–$250. At MS66, you’re looking at $500 or more. We think this is one of the best values in the early Washington Quarter series for what you get.

Low mintage and strong demand have produced impressive auction results for the 1939-S.

Steady interest from both date collectors and investors keeps this variety moving.

 

1939 Proof Quarter Value

Think about this: only 8,795 people could have bought one of these when they were new. That makes the 1939 Proof Quarter one of the smallest-mintage issues in the entire Washington Quarter series. Each coin was struck at the Philadelphia Mint using polished dies and hand-selected planchets, receiving two press strikes at slow speed.

The result? Mirror-like fields with frosted, raised design elements. When that contrast is strong, PCGS and NGC award a Cameo (CAM) or Deep Cameo (DCAM) designation—the holy grail for proof collectors. A 1939 Proof graded PR68 CAM sold at Heritage Auctions in 2021 for approximately $14,400.

Even without the cameo designation, these are valuable coins. A PR65 typically brings $150–$250. PR67 specimens can reach $2,000–$4,000. And because proof production was suspended from 1943–1949 due to World War II, the 1939 is the second-to-last pre-war proof quarter before that seven-year gap. That historical weight adds real demand.

Every appearance at auction generates competitive bidding.

Market activity for 1939 Proof Quarters is highly selective, with strong buyer interest whenever one surfaces.

Also Read: What Quarters Are Worth Money

 

Rare 1939 Quarter Error List

Errors happen when something goes wrong during striking—a doubled die, a repunched mint mark, a wrong planchet. Error coins from 1939 are especially popular because you’re combining a pre-war date with a genuine manufacturing oddity. Here are the two big ones to look for:

1. 1939-S DDO FS-101

This is the cherrypicker’s dream for the 1939 date. A Doubled Die Obverse happens when the working die gets two hub impressions at slightly different angles, transferring doubled lettering to every coin it strikes.

On this variety—designated FS-101 in the Cherrypickers’ Guide to Rare Die Varieties by Bill Fivaz and J.T. Stanton—you can see doubling on “LIBERTY,” the date “1939,” and Washington’s hair detail. On strong examples, the separation between doubled letters on “LIBERTY” is visible with just the naked eye or a basic loupe. The Cherrypickers’ Guide rates it as a Class III (design hub doubling) error.

What makes this one special is the double whammy: the already-scarce 1939-S base coin plus the error. Even worn examples are valuable to error specialists. Finding any example at all is the real challenge.

 

2. 1939-D/S FS-501 (Over Mint Mark)

This is a fun one. An OMM (Over Mint Mark) variety where a Denver “D” was punched directly over a San Francisco “S” on the same die. The coin shows both letters at once—the underlying “S” peeks out beneath the “D” under about 5x magnification.

Why did this happen? Mints reused and repunched dies to save money. It was common practice before World War II. The 1939-D/S is one of the more famous examples and carries the FS-501 designation in the Fivaz-Stanton catalog.

A word of caution: always verify against a reference image or trusted dealer before paying an error premium. You want to see clear “S” traces below the punched “D,” not just vague suggestions of something underneath.

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

 

Where to Sell Your 1939 Quarter?

Whether you’re new to Washington Quarter collecting and starting with an affordable Philadelphia example, or you’ve found what might be a high-grade proof or rare error, understanding where to sell matters as much as knowing what you have.

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

 

1939 Quarter Market Trend

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

 

FAQ about the 1939 Quarter Value

1. Is a 1939 quarter made of pure silver?

No. It’s 90% silver and 10% copper, containing exactly 0.1808 troy ounces of pure silver in a total weight of 6.25 grams. That alloy was the standard for U.S. quarters from 1873 through 1964, when clad (copper-nickel sandwich) coins replaced them.

2. Is a 1939 quarter worth anything?

Every single one is worth at least its silver melt value—approximately $4.50–$5.00 at current silver prices (around $25/oz). Circulated examples in Good to Fine condition typically sell for $7–$15. Uncirculated pieces and scarce varieties like the 1939-S or 1939 Proof can bring hundreds or thousands.

3. How do I tell which mint made my 1939 quarter?

Flip it to the reverse and look directly below the eagle’s tail feathers. “D” means Denver, “S” means San Francisco, no letter means Philadelphia. That’s the single most important step in valuing any pre-1968 Washington Quarter.

4. What does Proof mean for a 1939 quarter, and how do I identify one?

Proofs were made for collectors, not circulation. Philadelphia struck only 8,795 proof quarters in 1939 using polished dies and planchets at slower press speeds. You’ll recognize one by its mirror-like fields and sharply frosted raised design. It looks completely different from a normal business strike. If the frosted portrait pops against glassy fields, it may carry a Cameo (CAM) or Deep Cameo (DCAM) designation, which adds serious value.

5. What is the 1939-S quarter worth, and why is it more valuable?

The 1939-S is the scarcest regular-issue variety, with only 2,628,000 struck. It’s a semi-key date. Circulated examples sell for $10–$20. MS65 pieces bring $175–$250. An MS67 sold for approximately $2,640 at Heritage Auctions. Fewer coins struck means fewer high-grade survivors, and date collectors compete hard for them.

6. What are CAM and DCAM designations, and do they affect my 1939 quarter’s value?

CAM (Cameo) and DCAM (Deep Cameo) describe the contrast between frosted design elements and mirror-like fields on proof coins. These designations only apply to 1939 Proof quarters, not business strikes. DCAM means the strongest contrast and commands the biggest premiums. A 1939 Proof graded PR68 CAM sold for approximately $14,400 at Heritage Auctions in 2021. A non-cameo proof at the same grade would bring significantly less.

7. What are the most valuable 1939 quarter errors to look for?

Two major varieties: the 1939-S DDO FS-101 (Doubled Die Obverse) with visible doubling on “LIBERTY” and the date, and the 1939-D/S FS-501 (Over Mint Mark) where a “D” was punched over an “S.” Both are listed in the Cherrypickers’ Guide by Fivaz and Stanton. You can spot the DDO with the naked eye or a basic loupe. The OMM needs about 5x magnification to confirm the underlying “S.”

8. How should I store my 1939 quarter to protect its value?

Never clean it. Cleaning destroys natural patina and can cut collector value by 50% or more. Use inert holders—Mylar flips, PCGS or NGC hard plastic slabs, or acid-free 2×2 cardboard holders. Stay away from PVC flips, which off-gas and damage silver over time. Keep coins cool, dry, and out of direct sunlight. For any coin potentially worth over $100, professional grading by PCGS or NGC is worth the investment—it protects the coin and gives you a certified, market-accepted grade.

9. When did the U.S. Mint stop making silver quarters, and what does that mean for my 1939 coin?

Silver quarters ended after 1964. Starting in 1965, the Mint switched to copper-nickel clad with no silver content. That makes every Washington Quarter dated 1964 or earlier—including your 1939—a silver coin with real intrinsic metal value. Your coin essentially can’t be worth less than its melt value, no matter how worn it is.

10. Is it worth getting my 1939 quarter professionally graded?

Depends on what you have. A common Philly example in circulated condition? Probably not—grading fees of $30–$50 per coin at PCGS or NGC would eat up any added value. But for any 1939-S that looks MS65 or better, any 1939 Proof, or any suspected error variety, absolutely get it slabbed. Certified grades prevent disputes and typically boost auction prices. That 2021 Heritage sale of the PR68 CAM proof at $14,400 wouldn’t have hit that number without PCGS certification.