As a lifelong collector and student of Washington quarters, I‘ve long been fascinated by the 1986 issues. Although often overshadowed by rare key dates from the series‘ early years, 1986 quarters offer a lot of exciting potential for the sharp-eyed collector. There are scarce varieties, striking gems and remarkable errors to be found – if you know where to look.
In this comprehensive guide, we‘ll dive deep into the world of 1986 quarters. I‘ll share my insights on mintages, condition rarities, varieties and the most valuable examples. Whether you‘re new to collecting quarters or a seasoned pro, my goal is to arm you with the knowledge to build a top-notch collection of 1986 issues. Let‘s get started!
1986 Quarter Mintages and Values
Here‘s a breakdown of the mintage figures for quarters struck in 1986:
| Mint | Mintage | Note |
|---|---|---|
| P | 550,833,408 | Philadelphia – no mm |
| D | 504,336,503 | Denver |
| S | 3,010,497 | San Francisco proofs |
| Total | 1,058,180,408 |
As you can see, over 1 billion quarters were struck in 1986 between the Philadelphia and Denver mints. With such high production numbers, it‘s no surprise that most circulated examples are still only worth their face value of 25 cents.
"There‘s really no rarity in the P and D mint quarters in circulated grades," notes quarter variety expert Steve Roach. "But as you get into higher uncirculated grades, the populations drop off significantly."
Here are the PCGS population figures for P and D mint quarters in MS66 and MS67:
| Grade | 1986-P | 1986-D |
|---|---|---|
| MS66 | 141 | 126 |
| MS67 | 19 | 6 |
As you can see, gem examples are much harder to come by, especially in superb MS67 grade. Prices reflect this scarcity with MS66 quarters fetching around $30-50 and MS67s bringing $125-175.
One of the finest known 1986-P quarters, graded MS67+ by PCGS, sold for $2,880 in a 2015 auction. The top 1986-D, also graded MS67+ by PCGS, brought $881 in 2006.
Strike Quality and Surface Preservation
To find 1986 quarters at the top of the grading scale, you need to focus on two key factors: strike quality and surface preservation.
"The best quarters will have razor sharp striking detail, especially on the high points of Washington‘s hair and the eagle‘s breast feathers," notes Roach. "You‘ll also want pristine, mark-free surfaces with rich mint luster."
Because of the high copper content in the copper-nickel clad composition, 1986 quarters are prone to spotting and toning. The presence of unsightly spots or streaky toning can limit the grade and eye appeal.
Collect All Three 1986-S Proof Quarter Varieties
For discerning proof collectors, assembling a matched set of all three 1986-S variations is a worthy challenge. Proofs were minted at the San Francisco Mint in a special process using polished dies and planchets to create coins with mirror-like fields and frosted devices. They were sold individually and as part of the 1986 Proof Set.
The three varieties are:
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Type 1 – Non-Cameo: The standard proof strike with no cameo contrast. Most common.
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Type 2 – Cameo: Exhibits light cameo contrast between fields and devices. Scarcer.
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Type 3 – Deep Cameo: Boasts stark black and white cameo contrast. Rarest.
Cameo designations are assigned by major grading services like PCGS and NGC, denoted by "CAM" or "DCAM" on the holder. According to former PCGS president Ron Guth, "for coins to earn a cameo or deep cameo designation, they must display this contrast over the entire coin, not just a portion."
Here are the PCGS population figures for 1986-S proof quarters by variety:
| Grade | Non-Cameo | Cameo | Deep Cameo |
|---|---|---|---|
| PF68 | 120 | 116 | 20 |
| PF69 | 445 | 350 | 177 |
| PF70 | 140 | 28 | 19 |
Values rise dramatically for cameo examples, especially deep cameos in perfect PR70 grade. The finest known 1986-S DCAM graded PR70 by PCGS sold for $552 in a 2003 auction. More recently, a PR69 DCAM brought $126 in 2020.
To spot the differences, you‘ll need good lighting and magnification. Tilt the coin under a light and look for the degree of contrast between fields and devices. On a deep cameo, the fields will be deeply reflective and the devices heavily frosted, creating a stark black and white effect.
"Finding high-grade deep cameo examples is a real challenge and the prices reflect that," comments Guth. "But putting together a matched set in top grades is a real coup for the quarter aficionado."
Error Varieties Add Spice to 1986 Quarter Collecting
Perhaps the most exciting aspect of collecting 1986 quarters lies in the rare error varieties. Despite stringent quality control at the U.S. Mint, a small number of mistakes escaped into circulation. Here are some of the most dramatic and valuable types to look for:
Off-Center Strikes
When dies are misaligned, they can strike a planchet off-center, leaving a crescent-shaped blank area along the edge. The coin‘s value depends on the degree of the off-center strike. A modest 5-10% off-center example might bring $50 while a dramatic 50%+ off-center error with a full date can command $500 or more.
One of the most remarkable off-center quarters is this 1986-D struck 60% off-center and graded AU58 by ANACS. It sold for $480 in a 2004 auction. Note how the reverse is missing the right half of the motto "E PLURIBUS UNUM" and denomination "QUARTER DOLLAR".
Double Strikes and Rotated Dies
If a coin isn‘t properly ejected after striking and gets stuck to one of the dies, it can receive a second strike. This results in a dramatic double image, often with separation between the two impressions. When the dies rotate between strikes, design elements appear twice in different orientations.
This 1986 quarter displays a 95% rotated double strike, meaning the coin rotated nearly a full turn between strikes. Graded MS62 by NGC, it shows two impressions of Washington‘s head and the "LIBERTY" motto. The coin realized $253 in a 2015 sale.
The value of double struck quarters depends on the magnitude of the separation and rotation between strikes, along with the overall grade. Prices can range from $100 for a modest example up to $500+ for a dramatic, high-grade piece.
Wrong Planchet Errors
When a coin is accidentally struck on the wrong size or composition planchet, a wrong planchet error occurs. The most common type for 1986 quarters are those struck on 5 cent nickel planchets. They‘re smaller and lighter than a normal quarter.
Here‘s an impressive 1986-P quarter overstruck on a Jefferson nickel planchet and graded MS61 by ANACS. It sold for $195 in 2007. The design is smaller but still largely complete because nickels are thinner than quarters.
Far rarer are any 1986 quarters incorrectly struck on 90% silver planchets leftover from 1964. These obvious wrong metal errors are worth big bucks. The last 90% silver wrong planchet quarter to sell at auction, a 1983, brought over $6,000 in 2008!
Collecting Advice from the Pros
As you can see, there‘s more to 1986 quarters than meets the eye. To get the most out of collecting them, I reached out to some renowned specialists for their insights.
John Wexler, author of The RPM Book and a leading authority on repunched mintmark varieties, notes that "while there are no significant RPMs known on 1986 quarters, P and D mint examples offer a great opportunity to study the finer points of coin grading. Focus on strike sharpness, luster quality and surface preservation."
David Camire, mint error expert and president of Numismatic Guaranty Company (NGC), advises collectors that "finding a high grade mint error is only half the battle. You also need to provide verification of authenticity. Certification by a major grading service like NGC or PCGS is essential for rare and valuable errors. It validates the coin and makes it more liquid in the marketplace."
Here are some more tips I‘ve learned over decades of collecting:
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Buy the best you can afford. For a date like 1986, it‘s wise to focus on top-graded examples in MS66, MS67 or PR69 and PR70. Leave the circulated coins to fill out folders.
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Take advantage of volume. Cherrypick mint rolls, proof sets and bags for gems and errors. You can sometimes score superb examples this way for the price of average coins.
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Consider a registry set. Both PCGS and NGC offer competitive registry programs that let you display your coins and compete for awards. Building a top-ranked 1986 quarter set is a great way to get more out of your collection.
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Be patient. Gems and errors are out there but it may take time to find them. Work with respected dealers, attend major shows and monitor auctions regularly to snag the coins you need.
Preserving Your 1986 Quarter Collection
Once you‘ve assembled some nice 1986 quarters, proper storage is key to maintaining their condition and value. Here are my recommendations for safeguarding your collection:
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Use inert, archival-quality holders and albums. Look for products made of Mylar, polyethylene or other safe plastics. Avoid PVC holders which can damage coins over time.
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Store slabbed coins in a cool, dry place. Avoid extremes of temperature and humidity which can cause toning and spotting. A safe deposit box or fireproof home safe is ideal.
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Consider professional grading for valuable coins. Slabs from PCGS and NGC offer the best protection against wear and environmental damage. They also maximize liquidity when it‘s time to sell.
The Future of 1986 Quarters
What does the future hold for these often overlooked issues? In my opinion, the overall trajectory for the 1986 quarter market is positive. Here‘s why:
The pool of collectors who grew up with these coins is expanding as more millennials enter the hobby. There‘s strong nostalgia for the classics of one‘s youth. As more collectors compete for top-quality gems and spectacular errors, prices will likely climb over time.
The rise of registry set collecting also bodes well for superb examples. As more collectors vie to assemble "best of the best" sets, demand and prices for high-end 1986 quarters should remain robust. Rare errors have already demonstrated strong results and should have plenty of room for growth with the right pieces.
Of course, it‘s impossible to predict the future with certainty. But by carefully studying the market, buying the best quality you can afford and holding for the long term, you‘ll be well positioned to capitalize on the profit potential of these intriguing coins.
A New Appreciation
I hope this in-depth guide has given you a new appreciation for 1986 quarters. They may not have the prestige of scarce early dates but they offer some remarkable treasures for the diligent collector.
By understanding their key rarities, varieties and the factors that make them desirable, you can assemble a collection that‘s second to none. Whether you‘re drawn to pristine gems, captivating cameos or dramatic errors, there‘s something here for every taste and budget.
I encourage you to dive in and explore the nuances of these fascinating coins. Examine them closely, track down varieties and revel in the thrill of the hunt. In so doing, you‘ll gain not just handsome examples for your collection but valuable knowledge that will serve you well throughout your collecting pursuits.
In the end, that‘s what this hobby is all about – the joy of studying and preserving these important pieces of American history. By becoming a knowledgeable and passionate collector of 1986 quarters, you‘ll be doing your part to carry that tradition forward.
So study hard, buy smart and enjoy the journey. And who knows? Maybe someday you‘ll be the proud owner of the finest 1986 quarter set ever assembled. I look forward to seeing what fabulous coins you discover.
Happy collecting!
