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The 1940 Washington Quarter with no mint mark is worth anywhere from $6 in worn condition to over $3,500 in pristine mint state. If you have recently discovered one of these silver coins in an old jar or a family collection, you might be holding onto a piece of American history that carries a surprising premium over its face value.
Before you dive deep into the specific grades of your coin, it is helpful to use technology to get a quick estimate. Many collectors utilize a top coin identifier app to instantly recognize the strike and variety of their vintage quarters.
History of the 1940 Philadelphia Quarters
The 1940 Washington Quarter was struck during a pivotal time in American history. World War II was raging in Europe, and while the United States had not yet officially entered the conflict, the economy was ramping up production. This resulted in a relatively high mintage for the 1940 Washington No Mint Mark quarter, with the Philadelphia Mint producing 35,704,000 pieces. Because this coin was minted in Philadelphia, it does not feature a mint mark on the reverse side.
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In the world of coin collecting, the Washington Quarter series, which began in 1932 to celebrate the 200th anniversary of George Washington’s birth, is a favorite for many. By 1940, the design by John Flanagan had become a staple of American commerce. For everyday Americans, finding one today is an exciting link to the past. If you are unsure exactly what you have, the CoinKnow app can help you compare your coin against high-resolution database images to see if yours is a standard strike or a rare error.
Your Old Coin Could Be Valuable!
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While nearly 36 million were made, many were lost to the melting pots during times when silver prices spiked. Others spent decades in circulation, becoming heavily worn. This makes finding a “No Mint Mark” 1940 quarter in uncirculated, “Mint State” condition quite a challenge for modern collectors.
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Value Breakdown and Price Guide
Determining the value of your 1940 quarter depends heavily on its “grade,” which is a measure of how much wear and tear the coin has sustained. Since these coins are 90% silver, they always have a “melt value” (usually around $4-$5 depending on current silver markets), but collectors will pay much more for coins that look brand new.
Professional grading scales run from 1 to 70. A coin graded “Good” (G4) will show heavy wear but a clear outline, while a “Mint State” (MS65) coin will look exactly as it did the day it left the Philadelphia Mint. You can find detailed 1940 Washington Quarter price data for MS grades to see how the value jumps exponentially as the quality improves.
| Condition / Grade | Estimated Value |
|---|---|
| Good (G-4) | $6.00 – $7.50 |
| Fine (F-12) | $8.00 – $10.00 |
| Extremely Fine (EF-40) | $12.00 – $15.00 |
| Uncirculated (MS-60) | $25.00 – $35.00 |
| Choice Uncirculated (MS-65) | $65.00 – $90.00 |
| Gem Uncirculated (MS-67+) | $500.00 – $3,500.00+ |
Key Characteristics of the 1940 No Mint Mark Quarter
When examining your coin, the first thing to look for is the absence of a letter below the wreath on the reverse (back) side. If there is no letter “D” or “S,” it was minted in Philadelphia. These coins are made of 90% silver and 10% copper, weighing approximately 6.25 grams.
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A common question for beginners is whether a coin with no mint mark is an error. In 1940, it was standard practice for the Philadelphia Mint not to use a mint mark at all. Therefore, your “No Mint Mark” 1940 quarter is perfectly normal, but its silver content and age make it a “semi-numismatic” prize. To verify the details of your specific find, you can browse this comprehensive 1940 Washington Quarter worth and history guide.
Pay close attention to the feathers on the eagle’s breast on the reverse. In high-grade coins, these feathers should be distinct and sharp. If they are smooth, the coin has circulated significantly. Using a tool like CoinKnow allows you to zoom in on these fine details to determine if your coin is a candidate for professional grading through services like PCGS or NGC.
Rare Varieties and Proof 1940 Quarters
Beyond the standard business strikes intended for pockets and cash registers, the Philadelphia Mint also produced 11,274 Proof coins in 1940. These were sold in sets to collectors and feature a mirror-like finish and much sharper details. A 1940 Proof Washington Quarter can be worth $150 to $500 or more, depending on its brilliance and lack of scratches.
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There are also a few minor doubled die varieties known for this year, though they are not as famous as the 1937-D 3-legged Buffalo nickel. Look for slight doubling on the letters of “IN GOD WE TRUST” or on the date on the obverse. These errors can significantly increase the value of an otherwise standard 1940 quarter.
If you think you have discovered an error, don’t clean the coin! Cleaning a vintage silver quarter can strip away its natural “patina” and destroy its value to collectors. Instead, take a clear photo with CoinKnow to archive the coin’s condition and get a second opinion on its potential rarity.
Frequently Asked Questions
Q: Is the 1940 quarter made of real silver?
A: Yes, all Washington Quarters minted from 1932 through 1964 are composed of 90% silver. This gives the 1940 No Mint Mark quarter “intrinsic” value regardless of its condition.
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Q: How can I tell if my 1940 quarter is a Proof?
A: Proof coins have a very shiny, mirror-like background (fields) and very frosted, detailed designs (devices). They were never intended for circulation, so they rarely show the scratches and dings found on regular coins.
Q: Where is the mint mark on a 1940 quarter?
A: On the Washington Quarter, the mint mark is located on the reverse side, directly below the center of the eagle’s wreath. If that space is blank, your coin was minted in Philadelphia.
Q: What is the highest price ever paid for a 1940 quarter?
A: While average circulated ones sell for under $10, a 1940 Washington Quarter graded PCGS MS68—a nearly perfect specimen—sold at auction for over $15,000 several years ago. Condition is everything!