1948 Quarter Value Checker: Errors List, “D”, “S” & No Mint Mark Worth

1948 quarter value ranges from $0.25 face value to $43,200. That record was a Grade 68 example sold through Stack’s Bowers in March 2021. 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 see recent eBay sales and what buyers are actually paying right now.

 

1948 Quarter Value By Variety

Here’s what 1948 quarters are selling for across all three mint marks and conditions. 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 1948 Quarter Worth Money

The coin sitting at #1 is a 1948 No Mint Mark in MS68 that hammered for $43,200. A Philadelphia quarter — the one everybody assumes is “common.” That sale alone should make you look twice at any raw 1948 quarter in nice shape.

Right behind it, the 1948-S grabbed $23,500 in the same grade, nearly double the Denver version’s $3,120. And the 1948-S/S RPM FS-501 error at $4,000 in MS64 actually outperformed high-grade regular Denver strikes. Notice how a single grade point — MS67 to MS66 — can mean losing over $1,000 in value. Even the lowest entry on this list, a 1948-D MS65 at $384, is real money for a coin you might pull out of an old collection.

 

1948 Quarter Value and History

By 1948, the Washington quarter had been rolling off presses for 15 years. Most collectors skip right past this date. That’s a mistake.

The design started in 1932 as a one-year commemorative for George Washington’s 200th birthday. The public loved John Flanagan’s portrait so much it replaced the Standing Liberty quarter permanently.

Here’s a detail most people have never heard. The bicentennial committee actually preferred sculptor Laura Gardin Fraser’s design — and the Commission of Fine Arts agreed. Treasury Secretary Andrew Mellon overruled everyone and picked Flanagan’s portrait instead. Fraser’s design never made it onto a circulating quarter.

Three mints struck 1948 quarters: Philadelphia (no mint mark) at 35,196,000 coins, Denver (D) at 16,766,800, and San Francisco (S) at 15,960,000. The post-war economic boom was driving demand. Americans were spending again, businesses needed change, and the mints were running hard after wartime metal restrictions.

One thing that surprises a lot of collectors: no Proof Washington Quarters were struck in 1948. The Mint suspended proof coinage from 1943 through 1949. Anything sold as a “1948 Proof quarter” is either misidentified or fake.

The real story is survival. Millions were minted, but most went straight into heavy circulation during the prosperous late 1940s. High-grade examples are surprisingly tough to find today.

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

 

Is Your 1948 Quarter Rare?

Here’s what trips people up: the Denver issue had a higher mintage than San Francisco, yet it’s rarer in Gem grades. Collectors saved S-Mint rolls in bigger numbers during the late 1940s, while Denver coins just circulated. So mintage alone won’t tell you the whole story. You can check the scarcity ranking of any coin quickly with our Coin Identifier and Value App, which gives you real-time rarity data alongside current market values.

 

Key Features of the 1948 Quarter

The 1948 Washington quarter carries John Flanagan’s classic obverse and reverse designs. Every quarter minted from 1932 to 1965, including 1948, was struck in silver — not the copper-nickel clad you see on modern coins.

The Obverse of the 1948 Washington Quarter

George Washington’s portrait sits front and center, just like every other Washington quarter. LIBERTY runs along the top of the rim, and the date appears at the bottom.

Look in front of Washington’s neck — you’ll see IN GOD WE TRUST. John Flanagan’s initials “JF” are tucked on the right side at the base of the neck. That’s a small detail authenticators always check.

The Reverse of the 1948 Washington Quarter

Flip it over and you’ll see a spread-winged eagle taking up most of the space. E PLURIBUS UNUM and UNITED STATES OF AMERICA are engraved above.

The bottom half shows arrows in the eagle’s claws, an olive wreath, and the denomination. Look below the bow of the wreath for the mint mark — a “D” or “S” for Denver or San Francisco. No letter? That’s Philadelphia.

Other Features of the 1948 Washington Quarter

The 1948 quarters are silver coins with a face value of $0.25. Each piece weighs 6.25 g (0.20094 troy ounces), though PCGS uses a slightly different standard of 6.30 g — both are within normal manufacturing tolerance.

Since the alloy is 90% silver, the precious metal content is 0.18084 troy ounces (5.623 g). Based on current silver prices, this translates to a melt value of roughly $8–$14 depending on the day. You can expect these coins to have a diameter of 24.3 mm (0.95669 inches) with a thickness of 1.75 mm (0.06870 inches).

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

 

1948 Quarter Value — Mintage & Survival Data

Philadelphia pumped out over 35 million quarters in 1948. Denver and San Francisco struck roughly similar amounts — 16.8 million and 16 million respectively.

All three mints show survival rates above 9.9%, but those tiny differences matter. Philadelphia’s massive mintage means over 3.5 million coins survive today. Denver? Only about 1.67 million. Yet Denver coins often trade at higher premiums. That tells you collector demand and condition scarcity drive prices more than raw survivor counts.

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

 

The Easy Way to Know Your 1948 Quarter Value

Start by flipping your coin to the reverse and checking below the eagle for a mint mark. Then look at the high points — Washington’s cheekbone, the hairlines above his ear, and the eagle’s breast feathers. That’s where wear shows first.

Coins with sharp strikes, full detail, and any remaining luster are worth far more than heavily worn pieces. And if you spot anything unusual — doubled letters, a weird mint mark — you might have a variety worth cherrypicking.

Skip the guesswork and simply scan your quarter with the Coin Identifier and Value App for an immediate professional grade assessment and current pricing.

 

1948 Quarter Value Guides

The 1948 quarter comes in three distinct varieties based on where they were minted:

• 1948 No Mint Mark Quarter — Produced at the Philadelphia Mint
• 1948-D Quarter — Produced at the Denver Mint (D mint mark)
• 1948-S Quarter — Produced at the San Francisco Mint (S mint mark)

Each variety commands different prices. The mint mark sits on the reverse, just below the eagle’s tail feathers between the two olive branches. Philadelphia coins have no mark at all.

One thing worth knowing: PCGS has noted that both the 1948 Philadelphia and 1948 San Francisco issues suffered from poor quality control, producing weakly struck and surface-imperfect coins. Finding a true Gem (MS-65 or higher) from either mint is tougher than mintage numbers suggest. I think the 1948-D is the most underappreciated of the three — despite similar original mintages to the S-Mint, survival rates and demand have created real price gaps.

 

1948 No Mint Mark Quarter Value

Over 35 million struck — and it’s still the most expensive 1948 quarter in top grades. That’s the paradox here. The record is $43,200 at Stack’s Bowers in March 2021 for an MS68.

Two things explain the pricing. First, most of these coins went straight into cash registers during the post-war boom. Second, PCGS documents poor quality control at the Philadelphia Mint in 1948. Weak strikes reduced the number of high-quality coins right from the start. According to PCGS CoinFacts, the typical 1948 Philadelphia quarter is actually scarcer in Gem condition than many lower-mintage S-Mint coins from the same era — because collectors saved those San Francisco pieces in larger quantities.

If you find one raw with no wear on the cheekbone, pay attention. You could be holding serious money.

Here’s what recent auction results look like for premium examples of this “common” quarter.

Current market activity shows steady demand from both registry set builders and newer collectors discovering what’s hiding in old rolls.

 

1948-D Quarter Value

Most people assume the San Francisco coin is the tough one. Wrong. PCGS calls the 1948-D “the rarest of the three 1948 issues in Gem condition” and “one of the tougher issues of the Post-War era.”

The mintage is actually slightly higher than the S-Mint at 16,766,800 coins. But Denver coins were largely ignored by collectors and circulated hard, while San Francisco coins got tucked away in rolls. As of 2020, only a single NGC MS-68 specimen was known for the 1948-D. Think about that — one coin in that grade from a mintage of nearly 17 million. Its PCGS auction record stands at $8,050 for an MS-67+ sold by Heritage Auctions on April 18, 2012.

In lower grades, you can find these all day long. In Mint State, it’s a completely different kind of rare. That gap keeps auction results consistent.

Collector demand stays steady, especially from folks hunting undervalued Washington quarter dates.

 

1948-S Quarter Value

Got a 1948-S with mirror-like fields? Don’t clean it. You might be holding a Prooflike business strike worth five to eight times a standard coin in the same grade.

With a mintage of 15,960,000 coins, the 1948-S has the lowest production numbers of the three. But what really sets it apart is a quirk of the San Francisco Mint’s process. They used aggressive die polishing in 1948, and early strikes from freshly polished dies came out with Prooflike surfaces — mirrored fields with frosted design elements, looking just like a Proof coin. Remember, no official Proof quarters were made in 1948. PCGS recognizes these as a separate variety (1948-S 25C, PL), and they command serious premiums.

The 1948-S auction record is $23,500 for a PCGS MS-68 with CAC approval, sold by Heritage Auctions on January 9, 2013.

Auction records tell the story — quality examples consistently bring strong money.

We’re seeing growing recognition among collectors who are finally giving this date the respect it deserves.

Also Read: What Quarters Are Worth Money

 

Rare 1948 Quarter Error List

Even a common-date quarter like the 1948 can hide errors worth real money. Most collectors walk right past them. Here’s what to look for.

1948-S/S RPM FS-501 (Repunched Mint Mark)

This is one of the boldest repunched mint marks in the entire Washington quarter series. RPM errors happen when a mint worker punches the mint mark into the die, then repositions and punches again — leaving overlapping impressions on every coin struck from that die.

The “FS” designation comes from the Cherrypickers’ Guide to Rare Die Varieties by Bill Fivaz and J.T. Stanton. On this variety, the S mint mark was punched multiple times in slightly different positions, creating obvious doubling you can spot without magnification.

That visibility is exactly why this one is so collectible. No loupe required. Certified examples consistently bring strong premiums, with values reaching $3,750 or more in Mint State. Heritage Auctions sold an example graded MS64 for $4,000 in 2018. If you’re cherrypicking 1948-S quarters from a dealer’s junk silver bin, this is the one you’re hunting.

1948-S Prooflike (PL) Business Strike

Not technically an error, but a scarce designation that dramatically boosts value. The San Francisco Mint’s heavily polished dies in 1948 created coins with deeply mirrored fields and frosted raised designs — the look of a Proof coin, struck as a regular business piece.

To check yours, tilt the coin under a light. The flat fields should reflect like a mirror while Washington’s portrait stays frosty and textured. Since no real Proofs exist for 1948, any coin with that mirror-frost contrast came from a freshly polished die. PCGS and NGC certify these with the “PL” designation, and they sell for five to eight times the price of a standard 1948-S in the same grade.

1948 Broadstrike Error

A broadstrike happens when the planchet gets struck outside the retaining collar — the ring that normally shapes the edge and keeps the coin the right diameter. Without it, metal flows outward, making the coin wider and flatter than normal. The giveaway? Smooth edge with no reeding.

Specific 1948-P broadstrike examples have been documented and offered in the $55 range for circulated pieces. More dramatic or mint-state broadstrikes on silver Washington quarters can reach $75 to $160 based on general value guides, with exceptional examples potentially higher.

1948 Lamination Error

Lamination errors were pretty common on 1940s silver coinage. Impurities in the alloy mix caused layers of metal to partially peel away, leaving cracks, flaps, or missing chunks on the surface. It can look like a chip, gouge, or peel.

Simple lamination cracks on 1948 quarters add a modest premium of $10 to $15. More dramatic examples where the metal flap is large and still attached (called a “retained lamination”) have sold in the $44 range for 1948-P examples.

1948 Off-Center Strike Error

When the planchet isn’t centered between the dies during striking, part of the design goes missing and you get a blank crescent of metal on one side. The more off-center, the more valuable — as long as the date is still visible.

On 1948 Washington quarters, off-center strikes are worth $75 to $300 depending on severity. Coins showing 50% or more off-centering while retaining a visible date are the most desirable to error collectors.

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

 

Where to Sell Your 1948 Quarter?

Now that you know the value of your 1948 quarters, do you know where to sell these coins to get the best return? Don’t worry, I’ve compiled a list of the top platforms for selling 1948 quarters, including their specialties, advantages, and potential drawbacks to help you maximize your coin’s value.

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

 

1948 Quarter Market Trend

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

 

FAQ about the 1948 Quarter Value

1. What Makes a 1948 Quarter Rare?

It’s a condition rarity, not a mintage rarity. All three mint marks had high original production, but poor quality control at Philadelphia and San Francisco produced tons of weakly struck, surface-imperfect coins. Only 519 Philadelphia examples have been rated MS-67 or higher by PCGS. The Denver version is rarer still in Gem grades, with only a single NGC MS-68 specimen known as of 2020.

2. Which 1948 Quarter Is Worth the Most Money?

The most valuable 1948 quarter is a Philadelphia No Mint Mark coin graded MS-68+ by PCGS, which sold for $43,200 at a Stack’s Bowers auction in March 2021 — the all-time record for any 1948 quarter. The runner-up is a 1948-S graded PCGS MS-68 with CAC approval, which sold for $23,500 at Heritage Auctions in January 2013. The 1948-D holds its record at $8,050 for an MS-67+ at Heritage Auctions in April 2012. For errors, the 1948-S/S RPM FS-501 reached $4,000 in MS-64 at Heritage Auctions in 2018.

3. How Much Is a 1948 Philadelphia Quarter Worth?

These carry no mint mark. Circulated examples in Good to Very Fine condition run $9 to $15, mostly reflecting melt value. Uncirculated coins graded MS-63 to MS-65 typically trade from $12 to $35. MS-67 examples are worth $115 to $180, and anything above MS-67 climbs steeply into the thousands due to extreme condition rarity.

4. What Is the Silver Melt Value of a 1948 Quarter?

Every 1948 quarter contains 0.18084 troy ounces of pure silver (90% of a 6.25 g coin). With silver spot prices at historically elevated levels in late 2025 (around $48 per ounce), the melt value was approximately $8.72. At current 2026 silver prices, always calculate using the formula: melt value = silver spot price × 0.18084. This represents the absolute minimum a 1948 quarter is worth, regardless of condition.

5. Does a 1948 Quarter Have Any Proof Versions?

No. The Mint suspended proof coinage from 1943 through 1949. Any coin marketed as a “1948 Proof quarter” is either a misidentified Prooflike business strike, a polished coin (which kills its numismatic value), or an outright fake. The Prooflike (PL) 1948-S does exist as a genuinely scarce variety, but it is a business strike, not a Proof.

6. What Is a 1948-S Prooflike Quarter and What Is It Worth?

The 1948-S Prooflike (PL) is a business strike coin produced from freshly polished dies at the San Francisco Mint. The aggressive die polishing created mirror-like fields that contrast with the frosted raised design elements — visually resembling a Proof even though it isn’t one. PCGS and NGC certify these coins with the PL designation. They command premiums five to eight times higher than a standard 1948-S in the same grade, making them a prized variety for specialists in Washington quarter collecting.

7. How Do I Find the Mint Mark on a 1948 Quarter?

Flip to the reverse (eagle side). Look just below the eagle’s tail feathers, between the two olive branches. “D” means Denver. “S” means San Francisco. No letter means Philadelphia. On all Washington quarters before 1965, the mint mark is on the reverse, not the obverse like modern quarters.

8. Is the 1948-D or 1948-S Quarter Rarer?

In circulated grades, they’re roughly comparable. But in Gem Mint State (MS-65 and higher), the 1948-D wins — PCGS explicitly calls it “the rarest of the three 1948 issues in Gem condition.” As of 2020, only one NGC MS-68 example of the Denver quarter was known to exist. The 1948-S has the lowest raw mintage but shows up in high grades more often because collectors saved San Francisco rolls in greater numbers during the late 1940s.

9. What Other Errors Can Be Found on a 1948 Quarter?

Beyond the well-known 1948-S/S RPM FS-501 repunched mint mark, several other error types have been documented. Lamination errors (metal peeling or cracking) are worth $10 to $44 depending on severity. Broadstrike errors — where the coin was struck without the retaining collar — are worth $55 to $160, with a plain, smooth edge as the key identifier. Off-center strikes range from $75 to $300 based on how far off-center the design is and whether the date remains visible. Strike-through errors, where a foreign object became trapped between the die and planchet, are worth around $99.

10. Should I Get My 1948 Quarter Professionally Graded?

Only if the math works. For circulated coins in Good through Extremely Fine, the grading fee will cost more than the coin is worth — you’re talking pieces trading near melt at $9 to $15. But if your coin looks uncirculated — no wear on Washington’s cheekbones, hairlines, or the eagle’s breast — and might grade MS-65 or higher, get it slabbed. Any suspected 1948-S/S RPM FS-501 variety also benefits from certification regardless of grade, since it provides authentication and seriously boosts marketability.