Why is the 1983 P quarter valuable? Why Is The 1983 P Quarter Valuable? The 1983 P quarter is one of the most sought-after error coins in U.S. numismatic history. If you happen to have one, it could be worth a considerable sum.
If you’re short on time, here’s a quick answer: The 1983 P quarter has a lower mintage than other quarters from that year since these were considered error coins, making it harder to find and more valuable to collectors and investors.
In this comprehensive guide, we’ll explore why the 1983 P quarter is so valuable, including its backstory, rarity, and value compared to other quarters.
The Story Behind the 1983 P Quarter
The Philadelphia Mint and Quarter Production
The Philadelphia Mint first began producing quarters in 1796. As the oldest mint facility in the United States, it has struck countless quarters over the years. However, in 1983 something unusual happened that created a rare and valuable variation of the Washington quarter.
|Philadelphia Mint founded
|First US quarters minted in Philadelphia
|A small number of 1983 “P” quarters were minted due to a coin shortage
In the early 1980s, the United States experienced a nationwide coin shortage. The demand for quarters exceeded the available supply that the Philadelphia Mint and other branch mints were producing. As a short-term measure in 1983-P, the Philadelphia Mint struck an extremely limited run of that year’s Washington quarters.
The Rarity of 1983 P Quarters
Unlike most Washington quarters which have a mint mark denoting which facility struck them, these 1983 quarters lacked a mint mark entirely. Normally that would signify they were minted in Philadelphia. However, 1983 quarters were not intended to be struck there at all.
The fact they were produced due to the coin shortage makes them exotic and sought-after by collectors and numismatists today.
Estimates suggest only 2,000 to 5,000 of these 1983 “P” quarters were ever produced. Their rarity and origin story has made them quite valuable. In fact, some coin experts appraise circulated versions to be worth $500-1000 each, with uncirculated specimens valued even higher!
So always be sure to double-check your pocket change – you never know when you might stumble upon this fascinating modern rarity!
Mint Marks and Mintage of the 1983 P Quarter
Mint Marks Explained
Mint marks indicate at which US mint a coin was struck. The 1983 P quarter was minted at the Philadelphia Mint. The “P” stands for Philadelphia, while other common mint marks include “D” for Denver Mint and “S” for San Francisco Mint.
Understanding mint marks is important for identifying scarce releases and determining a coin’s rarity.
Quarters without a mint mark were all struck at the long-running Philadelphia Mint, which as of 2023 has been operating since 1792. The 1983 design featured George Washington on the obverse and an American bald eagle on the reverse.
This was originally introduced in 1932 for the Washington quarter’s 200th anniversary.
1983 P Quarter Mintage
The 1983 P Washington quarter had a moderately high mintage of 673,535,000 coins. However, high demand from collectors has led to decreased availability over time. This issue is somewhat scarce in the higher uncirculated grades.
By comparison, some of the lower mintage issues around this period include the 1981 P (589 million) and 1988 P (469 million). So while plentiful, the 1983 P is rarer than some other dates in the series.
The 1983 P’s status as a one-year-only type adds extra appeal for many collectors. This was the last year for the original eagle reverse design first introduced in 1932. In 1984, the eagle design was updated for enhanced detail and a more modern appearance.
Grading the 1983 P Quarter
An Overview of Coin Grading
Coin grading is the process of assessing the condition and quality of a coin to determine its value. Professional coin grading services use standardized grading scales, examining coins under magnification for signs of wear, damage, and quality of strike. Important factors include:
- Surface preservation – Marks, scratches, and environmental damage
- Luster – Quality and brilliance of metallic shine
- Strike – Sharpness of detail from the minting process
- Eye appeal – Overall aesthetic beauty of the coin
A higher grade means the coin is in better condition and thus more valuable to collectors. Grading provides an impartial assessment and allows buyers/sellers to determine fair prices.
Grading Scales Used
The most widely used grading scale is the Sheldon scale from 1 to 70, with 70 representing a perfect mint state. Other popular scales include:
- Descriptive terms (Good, Very Fine, Brilliant Uncirculated, etc.)
- Numeric scales from 1 to 100
|Mint State (Uncirculated)
An accurate grade for the 1983 P Washington quarter requires careful inspection under 5-10x magnification. Slight friction or marks can make a big difference. Professional grading eliminates guesswork and confirms the coin’s condition.
Current Value of the 1983 P Quarter
The 1983 P Washington quarter in uncirculated condition can fetch a nice premium over face value due to increased demand from collectors. According to the USA Coin Book, an uncirculated example sells for around $3-5 if graded MS63 by PCGS or NGC.
Higher-graded specimens in pristine MS65 condition can sell for $15-20 or even more if perfectly struck.
One reason the 1983 P quarter commands a premium is that it had a fairly low mintage of just over 673 million compared to many other Washington quarters. This means fewer uncirculated examples were produced and entered circulation, making the choice of uncirculated pieces scarcer for collectors to locate.
The 1983 P quarter was also issued in special proof format exclusively for collectors. The US Mint struck around 3.2 million proof versions that year bearing the signature S mint mark.
These proof 1983 S quarters can sell for $4-8 in PR65 condition and as much as $15-25 if graded a flawless PR70 by PCGS or NGC. Being struck on specially polished coin blanks and with extra pressure, they showcase more intricate design details than normal circulating quarters, explaining their increased collectibility.
Future Outlook for the 1983 P Quarter
The 1983 P Washington quarter is likely to continue increasing in value over time. Here are some key reasons why:
The 1983 P quarters minted, is considered a relatively rare coin. As these quarters get lost, damaged, or added to private collections over the years, the available supply shrinks, making the remaining coins more valuable to collectors.
As one of the key missing pieces in many quarter collections, demand for the 1983 P quarter continues to grow. This is especially true as new generations of coin collectors enter the market. Major coin grading companies like PCGS have stated the 1983 P quarter is frequently submitted for certification.
The 1983 P has added historic appeal because no quarters were minted for circulation in 1983. This was due to an oversupply of quarters already in circulation. The 1983 P quarter has become symbolic of this unique situation in Mint history, further driving interest.
With strong fundamentals of low supply and increasing demand, the 1983 P quarter is likely to continue appreciating over the long term. As an affordable investment compared to other rare U.S. coins, more collectors may add the 1983 P Washington quarter to their portfolios.
In the years ahead, expect prices for high-grade examples of the 1983 P quarter to reach new highs at auction. Continued education and promotion of this unique coin’s story will also inspire new generations to seek out this elusive prize.
Why Is The 1983 P Quarter Valuable – Conclusion
In closing, the 1983 P quarter is considered valuable due to its comparably low mintage at the Philadelphia Mint that year. Well-preserved specimens, especially in proof condition, can be worth over $100.
Understanding the backstory, rarity, grading, and value trends of this quarter helps collectors know what to look for and why this error coin commands such a premium price.