1967 Quarter Value Guide: Business Strike & SMS Prices

1967 Washington Quarter: A Deceptively Complex Market

The 1967 Washington Quarter: clad composition, no mint mark

The 1967 Washington Quarter presents collectors with a unique challenge. While it appears to be a single, common coin, it actually comprises two distinct markets: the massive 1.5 billion business strikes and the limited 1.8 million Special Mint Set (SMS) coins. Values range from face value to over $8,800 depending on strike type, grade, and finish designation.

This coin was struck during an unprecedented period in U.S. Mint history. In response to a severe national coin shortage, the Coinage Act of 1965 removed silver from quarters and mandated the removal of all mint marks from 1965 to 1967. This policy was specifically designed to discourage collector hoarding by making coins from different mints indistinguishable.

For collectors, this creates two distinct value drivers. Business strikes are pure "condition rarities" — only the absolute finest examples (MS-67 and above) carry significant premiums. SMS coins represent "finish rarities," where extreme value lies in Cameo (CAM) and especially Deep Cameo (DCAM) designations. A critical finding is the dramatic valuation gap between PCGS and NGC for high-grade SMS coins, with PCGS's stricter standards resulting in much lower populations and exponentially higher prices.

This guide covers identification, pricing for both strike types, die varieties, major mint errors, and authentication best practices.

How to Identify Your 1967 Quarter: Strike Type Diagnostics

Business strike (left) shows satiny luster; SMS (right) displays glassy, proof-like fields

The most critical identification task is distinguishing between a 1967 business strike and a Special Mint Set coin. A high-quality, proof-like business strike can easily be mistaken for a low-end SMS coin, and vice versa. The following diagnostics are essential for accurate attribution.

No Mint Mark Policy (1965-1967)

All 1967 quarters lack a mint mark. This was mandated by the Coinage Act of 1965 to discourage collectors from hoarding specific mint issues during the coin shortage. Business strikes were produced at Philadelphia, Denver, and San Francisco but were intentionally commingled. SMS coins were struck exclusively at the San Francisco Assay Office. Check reference materials for standard mint mark locations on other Washington quarters, but expect to find none on any 1967 example.

Business Strike Diagnostics

Business strikes exhibit "frosty" or "satiny" surfaces with characteristic cartwheel luster. The rims are standard and slightly rounded, typical of a circulation strike. Strike quality can vary from average to weak, particularly on Washington's hair and the eagle's breast feathers. The luster is generally uniform across the entire coin's surface. These coins were issued in bank rolls or bags for circulation.

Special Mint Set (SMS) Diagnostics

SMS coins display "glassy" or "deeply reflective" fields with a distinct proof-like finish. The rims are sharper and squared-off, similar to a proof coin. These specimens were struck with greater pressure, resulting in sharper, more defined details throughout the design. While the finish can be uniform, SMS strikes are the only type that can show "Cameo" contrast — frosted devices against mirror fields. These coins were sold directly to collectors in 5-coin plastic snap case sets.

Design Features

The obverse features John Flanagan's profile of George Washington facing left, with "LIBERTY" above, "IN GOD WE TRUST" to the left, and the date "1967" below. The reverse displays the heraldic eagle with wings spread, holding arrows and an olive branch, with "UNITED STATES OF AMERICA" above and "QUARTER DOLLAR" below. The Latin motto "E PLURIBUS UNUM" appears on a ribbon above the eagle.

1967 Quarter Value Guide: Business Strike & SMS Prices

Grade comparison: MS-63 ($5), MS-67 ($150), and MS-68 ($6,250) — the dramatic condition rarity cliff

The 1967 Washington Quarter market is bifurcated into two distinct pricing structures. Business strikes demonstrate classic "condition rarity" — with over 1.5 billion struck, all grades below MS-67 carry minimal numismatic premium. SMS coins represent "finish rarity," where base specimens are relatively affordable but Cameo and Deep Cameo designations command extraordinary premiums.

1967 Business Strike Values (PCGS #5880)

All 1,524,031,848 business strikes lack a mint mark and are treated as a single issue despite production at three facilities. The market for this coin exemplifies extreme condition rarity. With such massive mintage, grades below MS-67 are extremely common and carry little to no numismatic premium. The value "cliff" between MS-67 and MS-68 is one of the most severe in modern numismatics.

Market Analysis: The ultra-high-grade market (MS-68) is exceptionally volatile. While price guides list values above $6,000, auction results demonstrate that "eye appeal" — luster quality, absence of spots, and toning — is the dominant factor. A Heritage Auctions sale in January 2017 realized $8,813 for a PCGS MS-68, while other examples have sold for significantly less, such as a GreatCollections sale in October 2025 for $653.63. This 90% value swing highlights both the risk and subjectivity of the top-population registry set market.

1967 Special Mint Set (SMS) Base Values (PCGS #5999)

The 1,863,344 SMS coins were struck at the San Francisco Assay Office as the U.S. Mint's only premium collector offering from 1965-1967, replacing traditional proof sets. A critical finding is the massive and consistent valuation divergence between PCGS and NGC, driven by PCGS's significantly stricter grading standards for both base grades and finish designations.

1967 SMS Cameo (CAM) Values

Cameo designations identify SMS coins with frosted devices contrasting against mirror-like fields. The market pays substantial premiums for this finish designation, with PCGS valuations significantly higher than NGC due to stricter certification standards.

SP-68 DCAM: deep frosted contrast on devices against highly reflective mirror fields

1967 SMS Deep Cameo (DCAM) / Ultra Cameo (UCAM) Values

Deep Cameo (PCGS) or Ultra Cameo (NGC) represents the highest level of field-device contrast. These are the ultimate finish rarities for 1967 SMS quarters, with PCGS SP-68 DCAM specimens commanding $5,750 — over 140 times the base SP-68 value of $40.

Grading Service Note: The extreme value differences between PCGS and NGC for SMS finish designations reflect genuine population scarcity differences. PCGS maintains significantly stricter standards for CAM and especially DCAM certifications, resulting in much lower certified populations. The market recognizes this distinction and pays accordingly. Any SMS coin showing deep frosty contrast should be submitted to a top-tier grading service to realize its full value potential.

Die Varieties: Doubled Dies and Reverse Design Types

1967 SMS DDO FS-101: obvious separated doubling visible on LIBERTY and IN GOD WE TRUST

Die varieties are variations in the coin's design caused by errors in the die-making process. The 1967 quarter features several recognized varieties, with the most prominent being the SMS doubled dies that carry FS (Fivaz-Stanton) designations from major grading services. Business strike varieties exist but are typically attributed by specialist organizations like CONECA and Variety Vista rather than PCGS or NGC.

1967 SMS Doubled Die Obverse (DDO) FS-101 (PCGS #145387)

This is the most prominent and valuable die variety for the 1967 quarter. The doubling is strong and unmistakable, making it accessible to collectors with moderate magnification.

Attribution: Also cataloged as Variety Vista DDO-002 and CONECA 2-O-I. Primary diagnostics include obvious, separated doubling visible on "LIBERTY" and "IN GOD WE TRUST." Secondary diagnostics show a strong spread toward the center with a slight counter-clockwise rotation, plus lesser spread visible on the date.

1967 SMS Doubled Die Reverse (DDR) FS-801 (PCGS #407760)

This is the primary doubled die reverse variety for the SMS strikes, featuring a clear clockwise spread pattern.

Attribution: Also cataloged as Variety Vista DDR-002 and CONECA 2-R-II+VI. Primary diagnostics show doubling on "STATES OF AMERICA," "E PLURIBUS UNUM," and "QUARTER DOLLAR." Secondary diagnostics include doubling on the lower branches and leaves of the olive branch. An auction record shows a PCGS SP-67 example sold in June 2019 for $224(PCGS).

Business Strike Varieties (Specialist Market)

Major grading services do not widely recognize or attribute die varieties on 1967 business strike quarters. However, specialist collectors use attribution guides from organizations like CONECA and Variety Vista to identify these varieties. Because these are not TPG-attributed, no reliable public pricing from PCGS or NGC is available, and values are determined by specialist collectors and auctions.

1967 VV DDO-001 (1-O-II-C): A recognized Doubled Die Obverse for business strikes, cataloged by Variety Vista.

1967 VV DDR-001 (1-R-IV+VIII): A strong Doubled Die Reverse. Look for strong doubling on "E PLURIBUS UNUM" and the lower portions of the letters in "AMERICA."

1967 RDV-003 (Type C): A rare Reverse Design Variety. Diagnostics include very sharp, raised tail feathers with a distinct centerline on each feather, and a clear serif on the 'N' in "UNUM."

1967 RDV-006 (Type F): Another rare Reverse Design Variety. Diagnostics include a straight (long) leg on the 'N' in "UNUM" and the leaf above the 'A' in DOLLAR being positioned far from the 'U' in QUARTER.

Mint Errors: Transitional Strikes and Production Anomalies

Authentication: Normal clad edge shows copper core (left); 90% silver error has solid silver-white edge (right)

The mid-1960s coin shortage forced the U.S. Mint to maximize production output, and this rushed environment led to a well-documented lapse in quality control. As a result, 1967 is a popular and "target-rich" year for collectors of major mint errors. Values for these errors are significant and based on the type and severity of the mechanical failure.

Transitional Error: Struck on 90% Silver Planchet

This is the most significant and valuable error for the 1967 quarter. It occurs when a 90% silver planchet (leftover from 1964 or earlier) was accidentally fed into the 1967-dated clad coin press.

Authentication: Two simple, definitive tests exist. First, the edge test: examine the coin's reeded edge. A normal 1967 quarter has a visible copper-red or brown band (the core). The 90% silver error will show a solid, uniform silver-white edge with no copper visible. Second, the weight test: use a precise digital scale. A standard clad quarter weighs 5.67 grams. The 90% silver quarter weighs 6.25 grams. This test is conclusive.

Value: Extremely rare. A single known example, graded ANACS AU58 Details (Cleaned), sold at a Stack's Bowers auction in May 2009 for $5,750(CoinWeek). The fact this coin commanded such a high price despite being circulated and cleaned suggests a problem-free, uncirculated example would be a five-figure specimen.

Wrong planchet error: 1967 quarter struck on copper cent planchet (3.11g, incomplete design)

Wrong Planchet Error: Struck on 1¢ (Cent) Planchet

A copper cent planchet was accidentally fed into the quarter press, resulting in a dramatically undersized coin with incomplete design.

Identification: The coin is copper-colored, significantly smaller than a normal quarter, and weighs approximately 3.11-3.2 grams instead of 5.67 grams. The design will be incomplete, especially around the rims where the larger quarter dies exceeded the small planchet.

Value: These are rare and popular errors. An NGC MS-67 RB example sold at Heritage Auctions in August 2017, and an NGC MS-63 Red example sold at Heritage in December 2020. Retail and auction values generally range from $700 to $850+, with a PCGS AU58 BN example offered at $850 and another sale reported at "over $700."

Wrong Planchet Error: Struck on 5¢ (Nickel) Planchet

A 5-cent copper-nickel planchet was struck by quarter dies, creating a slightly smaller coin with partial design.

Identification: The coin is slightly smaller and lighter (5.00 grams) than a quarter. The design will be partially missing, as the nickel planchet is not large enough to accommodate the full quarter die.

Value:$130 - $190. A 2013 Heritage Auctions sale realized $188 for one such error.

Major off-center strike (~50%): full design on struck portion, blank on remainder — value depends on percentage and visible date

Striking Error: Off-Center Strike

The planchet was improperly seated in the press, resulting in the design being struck only partially on the coin.

Identification: A portion of the coin is fully struck with normal design details, while the remainder is a blank, unstruck planchet area showing the original metal surface.

Value:$75 - $300+. Value is highly dependent on two factors: the percentage off-center (more dramatic = more valuable, with 40%-70% being optimal) and whether the full date is visible. The date must be visible to command a premium. A minor 10-20% off-center strike might sell for $75, while a major 50%+ example sold on eBay for $79.99.

Striking Error: Broadstrike

The coin was struck correctly in the center but outside of its retaining collar, allowing the metal to spread.

Identification: The coin is wider and thinner than a normal quarter. The most telling diagnostic is a plain, un-reeded edge — the collar that creates the reeding was not present during the strike.

Value:$35 - $400+. Minor broadstrikes are relatively common and may sell for $35. A dramatic example graded BU-64 and also featuring triple clips sold at a Stack's Bowers auction in December 2007 for $402.50.

Planchet Error: Clipped Planchet

A portion of the planchet is missing, which occurred before the coin was struck when the planchet punch overlapped a previous punch.

Identification: A curved or straight "clip" is missing from the coin's edge. The rim opposite the clip will often be weak or "pulled in," a phenomenon known as the Blakesley effect.

Value:$50 - $225. Value depends on the size and shape of the clip. A high-quality uncirculated example with toning was offered for $224.99.

Planchet Error: Missing Clad Layer / Lamination

One of the outer copper-nickel layers failed to bond to the copper core and either never adhered or peeled away.

Identification: A large portion of the coin will show the red-brown copper core. If the layer was missing before the strike, the detail will be weak in that area. If it peeled off after striking, the underlying copper will be unstruck and show the original planchet surface.

Value:$100 - $500. An NGC MS-64 Missing Clad Layer error is currently offered for $499.97. Minor lamination flakes are less valuable.

Grading the 1967 Quarter: From Circulated to Superb Gem

Understanding grade is critical for 1967 quarters, as the value differential between adjacent grades can be extreme. For business strikes, the jump from MS-67 ($150) to MS-68 ($6,250) represents a 40x increase. For SMS coins, finish designations (CAM, DCAM) can multiply values by 10x to 140x at the same numeric grade.

Circulated Grades (Business Strikes)

Good-4 (G-4): Heavy wear across all high points. Date and lettering remain visible but may be weak. Washington's portrait is flattened with minimal detail. The eagle's breast and wing details are largely worn smooth. At this grade, the coin is worth approximately face value.

Very Fine-20 (VF-20): Moderate wear visible but major design elements remain clear. Washington's hair shows some detail with wear on the highest points. The eagle's breast feathers are partially visible but worn on the high points. Wing feathers show moderate detail. Still essentially face value in the market.

About Uncirculated-50 (AU-50): Only slight wear on the highest points. Washington's cheekbone and hair above the ear show light friction. The eagle's breast and leg show minor wear. Most of the original luster remains in protected areas. Minimal premium above face value.

Mint State Grades (Business Strikes)

MS-60 to MS-63: No wear, but numerous contact marks are visible. MS-60 has heavy bag marks and may have poor luster. MS-63 shows moderate contact marks with acceptable luster and eye appeal. These grades are common for 1967 quarters and carry minimal numismatic premium ($1.50 - $8.00).

MS-65 (Gem Uncirculated): Minor contact marks visible under magnification but few distracting marks to the naked eye. Good luster and strike. Still a common grade for 1967, valued around $10.

MS-67 (Superb Gem): Very few contact marks, none in focal areas. Excellent luster and strike. This is where condition rarity begins for 1967 business strikes. The population drops dramatically at this level, commanding $150.

MS-68: Virtually perfect surfaces with only minute imperfections visible under 5x magnification. Outstanding luster and strike. This is the practical top grade for 1967 business strikes and represents extreme condition rarity. The market is volatile but generally values these at $6,250, with exceptional examples bringing significantly more at auction.

Special Mint Set Grades

SP-63 to SP-65: SMS coins at these grades show the characteristic proof-like finish but may have contact marks or handling evidence. Luster should be present but may not be fully original. These are the most affordable SMS grades.

SP-67: Minimal contact marks with strong proof-like surfaces. Sharp strike with excellent eye appeal. This grade represents solid quality for SMS collectors.

SP-68 to SP-69: Near-perfect to perfect surfaces with exceptional proof-like finish. Strike and eye appeal are outstanding. At SP-68, base coins are valued at $40, but with DCAM designation, values jump to $5,750 — a dramatic illustration of how finish rarity dominates SMS valuations.

Key Grading Factors

Strike Quality: Look for sharp details on Washington's hair and the eagle's breast feathers. Weak strikes are common on business strikes and will negatively impact grade. SMS coins typically show stronger, more consistent strikes.

Surface Preservation: For clad coins, original luster preservation is critical. Look for spots, discoloration, or surface disturbances. The copper-nickel cladding is prone to spotting if improperly stored, which will limit grade potential.

Contact Marks: All mint state grades are defined by the number and severity of contact marks. For MS-67 and above, marks in focal areas (Washington's cheek, open fields) are particularly damaging to grade.

Eye Appeal: At the highest grades, eye appeal becomes the determining factor. This includes luster quality, color consistency, and overall aesthetic presentation. Two coins with identical technical grades can have vastly different market values based on eye appeal.

Authentication: Identifying Problem Coins and Counterfeits

While 1967 quarters are not typically counterfeited due to their relatively low base values, authentication remains important for high-grade specimens and major errors. Additionally, identifying coins that have been cleaned or damaged is essential, as these "problem coins" have severely reduced and unpredictable values.

Counterfeit Detection: Counterfeits of 1967 quarters are rare but can exist for high-grade business strikes (MS-68) and premium SMS coins (SP-68 DCAM). Professional grading provides authentication as part of the service. For raw coins, examine weight (should be exactly 5.67 grams for clad), diameter (24.3mm), and edge details (proper reeding with copper core visible on clad coins). Any deviation warrants professional examination before purchase.

Cleaned Coin Detection: A coin that has been cleaned or damaged is considered a "problem coin." PCGS and NGC will not assign a numeric grade to such coins, instead returning them in a "Details" slab with a qualifier such as "AU Details - Cleaned." Warning signs of abrasive cleaning include hairlines (fine, non-parallel scratches across the fields caused by wiping with cloth or brush) and "whizzing" (aggressive cleaning using a rotary wire brush that creates an unnatural, bubbly luster and distorts fine design details). Chemical cleaning produces unnatural color (coins that have been dipped may appear overly bright but lifeless) and granular surfaces (harsh chemical cleaning can etch the surface, leaving a dull, granular, or porous texture).

When to Buy Certified: For any 1967 quarter valued above $100, professional certification from PCGS or NGC is strongly recommended. This is essential for MS-67 and higher business strikes, all SMS coins in SP-67 and above, any coin with CAM or DCAM designation, all attributed die varieties (FS-101, FS-801), and all major mint errors (wrong planchet strikes, 90% silver errors). The certification cost is justified by the authentication, grade guarantee, and improved marketability. Additionally, the dramatic valuation differences between PCGS and NGC for SMS finish designations (particularly DCAM) make the choice of grading service significant for maximizing value.

Preservation and Storage Best Practices

Proper storage is essential to protect the numismatic value of 1967 quarters, particularly high-grade specimens and SMS coins with premium finish designations. Clad composition is prone to spotting and discoloration if improperly stored.

Environmental Control: All collectible coins must be stored in a cool, dry, and stable environment. Avoid attics, basements, and garages where extreme fluctuations in temperature and humidity can cause discoloration, spotting, and toning. Ideal storage maintains consistent temperature (60-70°F) and low humidity (30-40% relative humidity). Excessive moisture is particularly damaging to clad coins and can cause irreversible surface degradation.

The PVC Danger: The single greatest threat to a modern coin's preservation is the holder it is stored in. Avoid soft, flexible plastic flips, as these are made with polyvinyl chloride (PVC). Over time, the plasticizer in PVC leaches out, interacting with humidity and the coin's metal, creating a "sticky green slime" that coats the coin and causes permanent, corrosive surface damage. Use only archival-safe holders including hard plastic capsules (such as TPG slabs from PCGS or NGC), 2x2 flips made of Mylar (polyester, which is chemically inert), or acid-free cardboard 2x2 holders. When in doubt, consult holder packaging to confirm it is labeled "PVC-Free" or "archival quality."

Handling: Never handle coins by their surfaces. Always hold coins by their edges between thumb and forefinger. Even clean hands contain oils that can leave fingerprints and cause long-term toning issues. For high-value specimens, consider using cotton gloves during examination. Never clean coins — even gentle cleaning will create hairlines and reduce value. Professional conservation should only be performed by certified experts at services like NCS (Numismatic Conservation Services).

Frequently Asked Questions About 1967 Quarters

Research Methodology and Data Sources

This comprehensive analysis synthesizes data from multiple authoritative numismatic sources to provide accurate and current market valuations for the 1967 Washington Quarter. Price data is derived from the PCGS CoinFacts database, NGC Coin Explorer, and established dealer pricing guides including Gainesville Coins and SD Bullion. Auction records are sourced from GreatCollections and Heritage Auctions archives. Die variety attributions follow the Wexler system, Variety Vista, and CONECA references. Mint error diagnostics are based on established numismatic references from Stack's Bowers and recognized error coin authorities.

Historical context regarding the Coinage Act of 1965 and the no-mint-mark policy is documented in official U.S. Mint publications and numismatic literature from CoinWeek. Composition and specification data is verified against official U.S. Mint coin specifications. Precious metal pricing for melt value calculations uses real-time commodity data from Trading Economics.

Market Volatility Disclaimer: Coin values fluctuate based on market conditions, precious metal prices, collector demand, and individual specimen quality. The prices presented represent general market ranges at the time of publication and should be used as guidelines rather than firm offers. Actual realized prices may vary significantly based on auction venue, buyer competition, economic conditions, and subjective factors like eye appeal. For MS-68 business strikes and SP-68 DCAM SMS coins, volatility is particularly pronounced, with auction results sometimes varying by 90% or more for coins of the same technical grade. Always consult current market data and consider professional appraisal for high-value specimens before buying or selling.