As a professional numismatist and lifelong coin collector, I‘ve handled my fair share of Washington quarters over the years. But there‘s something special about the quarters from 1981. While most are just ordinary pocket change, a select few can be worth a small fortune to collectors.
In this comprehensive guide, I‘ll share my expert knowledge and insider tips to help you unlock the true value of your 1981 quarters. You‘ll learn how to spot the rare varieties, how to grade them accurately, and how to turn your loose change into serious cash. Trust me, you won‘t want to spend another quarter until you‘ve read this!
The Washington Quarter: An American Icon
First, let‘s set the stage with a little history lesson. The Washington quarter was born out of the Great Depression, when the U.S. Mint held a competition to design a new 25-cent coin to commemorate the 200th anniversary of George Washington‘s birth in 1932.
The winning design, created by sculptor John Flanagan, features a majestic left-facing bust of Washington on the obverse and a spread-winged eagle on the reverse. The coin was only supposed to be minted for one year, but it proved so popular that the Mint decided to keep it in production indefinitely.
Fast forward to 1981, the 49th year of the Washington quarter series. The Mint struck over 1.1 billion quarters that year at facilities in Philadelphia (no mint mark), Denver (D), and San Francisco (S). Little did they know that some of these seemingly ordinary coins would become highly coveted rarities.
The 1981 Quarter: By the Numbers
Before we dive into the valuable varieties, let‘s review the basic specs of the 1981 Washington quarter:
| Specification | Details |
|---|---|
| Obverse Design | Portrait of George Washington facing left with "LIBERTY" above, "IN GOD WE TRUST" to the left, and "1981" below |
| Reverse Design | Heraldic eagle with "UNITED STATES OF AMERICA" above, "E PLURIBUS UNUM" to the left, and "QUARTER DOLLAR" below |
| Composition | Outer layers of 75% copper and 25% nickel clad to a pure copper core |
| Weight | 5.67 grams |
| Diameter | 24.3 mm |
| Edge | Reeded |
According to the Red Book (the bible of U.S. coin collectors), the mintage figures for circulation strike 1981 quarters were:
- 1981-P (Philadelphia): 601,716,000
- 1981-D (Denver): 575,722,833
The mintage of the 1981-S proof quarters was not published, but experts estimate that fewer than 4 million were made, split between the Type 1 and scarcer Type 2 varieties (more on those in a bit).
Rare and Valuable 1981 Quarter Varieties
Now for the juicy part – the 1981 quarters that can make you rich! Well, maybe not "pay off your mortgage" rich, but enough to make any collector drool. Here are the most notable varieties to look for:
1981-S Type 1 vs. Type 2 Proof Quarters
In my 30+ years of collecting, few modern coins have captured the attention of the collecting community like the 1981-S proof quarter varieties. The story goes like this:
At some point during production of the 1981-S proof sets at the San Francisco Mint, the die used to strike the quarters was replaced. The new die featured a slightly different style of "S" mintmark, with a clearer and more open design.
Coins struck with the first die are known as Type 1, while those struck with the second die are called Type 2. The Type 2 coins are much scarcer, with PCGS CoinFacts estimating that only 5% of the total proof mintage are the Type 2 variety.
To tell them apart, look closely at the mintmark on your 1981-S proof quarter. The Type 1 will have a blob-like "S" that almost looks like an "8", while the Type 2 will show a well-defined "S" with clear serifs.
In terms of value, the Type 2 quarters are the real prize. In perfect PR-70DCAM condition, they can sell for over $2,500. Even PR-69 examples fetch around $350. The Type 1 coins are much more affordable, with PR-70DCAM pieces bringing $30-40.
Here‘s a table comparing recent auction prices for the two varieties in different grades:
| Grade | 1981-S Type 1 | 1981-S Type 2 |
|---|---|---|
| PR-65 | $5-10 | $30-50 |
| PR-66 | $7-15 | $50-80 |
| PR-67 | $10-20 | $80-125 |
| PR-68 | $15-30 | $125-250 |
| PR-69 | $20-50 | $250-500 |
| PR-70 | $40-100 | $1,000-3,000 |
1981-P & 1981-D Quarters Struck on Defective Planchets
Another category of valuable 1981 quarter errors are those struck on defective or wrong planchets. These occur when a mistake at the Mint causes the wrong type of metal blanks (planchets) to be fed into the coining press. The result is a quarter that looks decidedly odd and undersized.
The most dramatic and valuable examples are quarters struck on dime or cent planchets. Because those planchets are smaller than a quarter, the coin ends up wildly off-center with a large crescent-shaped blank area.
In 2016, a 1981-P quarter overstruck on a Lincoln cent sold for $7,050 at auction. Earlier this year, a 1981-D struck 15% off-center on a clad dime planchet in MS-66 brought $9,600!
Even quarters struck on nickel planchets are worth big bucks. A 1981-P struck on a 5C planchet graded MS-67 Full Steps by PCGS sold for $2,520 back in 2021.
So if you spot a 1981 quarter that looks thinner, smaller, or just "off" compared to a regular one, be sure to have it checked out. It could be a valuable wrong planchet error worth hundreds or thousands of dollars.
1981-P & 1981-D Double Strikes and Off-Centers
Striking errors make up another fascinating niche within 1981 quarter errors. These occur when something goes wrong during the striking process, causing the coin to be struck multiple times or with the dies misaligned.
Some of the most visually dramatic errors are off-center strikes. These happen when the blank planchet isn‘t properly centered between the dies, causing the design to be squished to one side with a blank crescent on the opposite side.
The value of an off-center quarter depends on how far off-center the strike is and the overall condition. A 10-15% off-center 1981-P or D quarter might bring $50-100, while a 50%+ off-center could sell for $500 or more in Mint State.
Then there are the double and even triple struck quarters. These occur when the coin sticks to one of the dies after striking and is struck again with the next blow. If the coin rotates between strikes, you get a dramatic twisting effect.
A spectacular 1981-P quarter with a 70-degree counter-clockwise rotation double strike sold for $1,380 in a 2019 Heritage Auctions sale. The coin was graded MS-64 by PCGS. Even less drastic double strikes can sell for $100-300 in Mint State.
1981 Quarter Doubled Dies
Rounding out the list of notable 1981 quarter varieties are the doubled dies. These coins feature a doubling effect on part or all of the design caused by a misaligned or tilted hub during die creation.
Many new collectors get doubled dies confused with strike or machine doubling, which is just a blurred effect from die bounce or loose machinery. True doubled dies have clearly separated and raised elements that match the design.
While there are no major 1981 doubled die quarters known, there are some minor ones out there. Look for doubling on Washington‘s eyelid, the word LIBERTY, and the date. Also check the reverse for doubling in the lettering or eagle‘s wings and talons.
Even a minor 1981 doubled die can bring $50-100 in high Mint State grades. But the real money would be in a dramatic doubled die. The 1955 and 1961 doubled die obverse quarters are worth $100s even in circulated condition!
Grading 1981 Quarters Like a Pro
Now that you know what to look for, you‘ll need to assess the condition or grade of your 1981 quarter to determine its value. As a professional coin grader, I rely on the industry-standard 70-point Sheldon scale.
In a nutshell, coins are graded from 1 (barely identifiable) to 70 (absolutely perfect) based on their amount of wear, luster, marks, and overall eye appeal. Here‘s a breakdown of the main grades for circulated and Mint State quarters:
- AG About Good (AG-3): Heavily worn with only the outline of the design visible. Date and mintmark barely readable. Worth face value.
- Good (G-4 to 6): Design mostly worn smooth but date, lettering and major elements visible. $0.25 to $1.
- Very Good (VG-8 to 10): Moderate to heavy wear but most elements clear. 25 cents to $1.
- Fine (F-12 to 15): Moderate wear with full rims, clear legends. $0.50 to $2.
- Very Fine (VF-20 to 35): Light to moderate wear, all elements sharp, some luster may show. $2-5.
- Extremely Fine (XF-40 to 45): Very light wear on high points, at least 50% luster. $5-10.
- About Uncirculated (AU-50 to 58): Slight friction on high points, nearly full luster. $10-20.
- Mint State (MS-60 to 70): No wear, graded on luster, marks, eye appeal. MS-60 $20 and up. MS-65 $80-100. MS-67 $300+.
Proof quarters follow a similar scale from PR-1 to PR-70, but are graded on the sharpness and completeness of their proof finish and mirrored fields. Most 1981-S Type 1 proofs grade PR-65 to PR-69, while the rare Type 2s often grade PR-68+ due to their later die state.
To get the hang of grading, I recommend picking up an inexpensive set of plastic coin grading replicas or an ANA grading guide. Study the differences between grades and practice on your own coins. And when in doubt, always seek a second opinion from a trusted dealer or grading service.
Tips For Cherry Picking Valuable 1981 Quarters
If you‘re like me, you probably dream of plucking a rare and valuable 1981 quarter variety from pocket change. While the odds are slim, it‘s not impossible! Here are some of my top tips for cherry picking on the cheap:
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Always check your change. I‘ve found countless key dates, errors, and varieties by simply looking at every coin that passes through my hands. Make a habit of checking the date, mintmark, and surfaces of your quarters before spending them.
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Bust open some rolls. Visit your local bank and buy a few rolls of quarters at face value. You can often cherrypick better quality coins by examining entire rolls. Plus, it‘s a cheap way to add to your collection.
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Hit the coin shows. Attend local coin shows and conventions to shop a wide variety of dealers at once. You can find great deals on raw coins that may have been overlooked or undergraded. Just be sure to bring your loupe and reference books!
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Look for originals. Coins that have never been cleaned or dipped will always be more valuable. When cherrypicking, look for quarters with original surfaces and luster. Avoid those that look unnaturally shiny or have hairlines or residue.
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Learn the die markers. Many rare varieties like the 1981-S Type 2 proof have specific die markers that can help you identify them. Study closeup photos and descriptions of these markers so you know exactly what to look for.
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Think like an error coin. When sorting through loose quarters, keep an eye out for anything that looks "off" – strange colors, missing letters, off-center images, etc. Many great error coins have been found by collector‘s with a keen eye.
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Get a second opinion. If you think you‘ve found a rare variety or error, always get it authenticated by a reputable third-party grading service like PCGS or NGC. They have the expertise and experience to identify the most valuable coins.
Collecting Strategies and Investment Outlook
Whether you‘re collecting for fun or profit, 1981 quarters offer something for everyone. If you‘re on a budget, you can assemble a complete set of mint state 1981-PD and 1981-S Type 1 proof quarters for under $50.
On the other hand, if you‘re looking to invest in rare and valuable varieties, the sky‘s the limit. In my opinion, the 1981-S Type 2 proof quarter is one of the best modern coin investments you can make. With a total population of just 16 coins graded PR-70 by PCGS and NGC combined, they have serious room for growth.
Other smart buys are high-grade examples of the various 1981 quarter errors and varieties. Coins like the off-metal strikes, double strikes, and off-centers are the error equivalent of condition rarities. As the coin market continues to mature, I believe these dramatic and visually engaging pieces will find a wider audience and stronger demand.
Of course, as with any investment, there are no guarantees. But if you buy the best quality coins you can afford from reputable sources, you‘ll be well-positioned to enjoy your 1981 quarters for years to come – and maybe make a tidy profit in the process!
Final Thoughts
So there you have it – the ultimate guide to understanding and unlocking the value of your 1981 quarters. I hope this article has opened your eyes to the incredible diversity and profit potential hiding in your pocket change.
Whether you‘re a seasoned collector or just starting out, always remember to buy the book before the coin. Taking the time to educate yourself will help you make smarter purchases, get more enjoyment from the hobby, and maybe even discover the next great rarity.
If you have any questions or just want to talk coins, feel free to drop me a line. Until next time, happy collecting!
