1987 Quarter Value: P, D & S Mint Marks Worth Up To $690
1987 Washington Quarter values range from face value to $690. Business strikes common in circulation, rare in MS-67. Complete guide to P, D, and S mint marks plus proof values.
The 1987 Washington Quarter is worth $0.30 to $690.
- Circulated (1987-P, 1987-D): $0.30 – $0.85 (essentially face value)
- Uncirculated MS-65: $10 – $20
- Top specimens MS-67: $300 – $690 (condition rarity)
- 1987-S Proofs PR-70 DCAM: $30 – $80 (common in high grades)
With over 1.2 billion business strikes produced, this is a classic "conditional rarity"—worthless in circulation but commanding significant premiums in the highest grades due to poor 1980s mint quality control.
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1987 Washington Quarter Overview
The 1987 Washington Quarter represents one of the most dramatic examples of conditional rarity in modern U.S. coinage. Minted in staggering quantities exceeding 1.2 billion business strikes across Philadelphia and Denver facilities, these coins are virtually worthless in circulated grades. However, the notoriously poor quality control and rough handling practices at 1980s minting facilities created an unexpected scarcity: pristine gem examples are remarkably rare, with top-graded MS-67 specimens commanding $300 to $690 at auction.
This guide examines all three 1987 issues—the Philadelphia (P) and Denver (D) business strikes designed for circulation, plus the San Francisco (S) proof strikes sold exclusively to collectors. We provide current market values based on verified auction records, grading diagnostics specific to clad quarters, and practical authentication insights. We'll also address widespread misconceptions about varieties (which don't exist for this date) and provide realistic values for verified mint error coins.
How to Identify Your 1987 Washington Quarter
All 1987 Washington Quarters share John Flanagan's classic design introduced in 1932. The obverse features George Washington's left-facing profile, with "LIBERTY" inscribed above the portrait, the date "1987" below, and "IN GOD WE TRUST" appearing in the left field beside Washington's neck. The reverse displays a heraldic eagle with outstretched wings, "UNITED STATES OF AMERICA" and "E PLURIBUS UNUM" above, and "QUARTER DOLLAR" below the eagle.
The composition is copper-nickel clad: outer layers of 75% copper and 25% nickel bonded to a pure copper core. Overall metallic composition is 91.67% copper and 8.33% nickel. The coin weighs 5.67 grams with a diameter of 24.3 millimeters and features a reeded (grooved) edge.
Mint Mark Location: For all clad Washington Quarters from 1968 to 1998, the mint mark appears on the obverse. Look for a small letter to the right of George Washington's braid ribbon, positioned directly above the "7" in the date. You'll find either a "P" (Philadelphia), "D" (Denver), or "S" (San Francisco). The Philadelphia mint did not consistently use a "P" mint mark on quarters during this era, so many 1987-P quarters may appear to have no mint mark—this is normal and confirms Philadelphia origin.
Strike Type Identification: Business strikes (1987-P and 1987-D) have a satiny, slightly textured mint luster and were intended for general circulation. Proof strikes (1987-S) feature mirror-like reflective fields and are much sharper in detail with frosted design elements creating a cameo effect. All 1987-S quarters are proofs—San Francisco did not produce business strikes this year.
1987 Quarter Value Guide: Current Market Prices
The value gap between circulated and top-grade 1987 quarters is extraordinary. Population data reveals the extreme scarcity of pristine examples: PCGS has graded 46,468 specimens of the 1987-P, yet only 352 achieved MS-67 grade (0.75%), with none grading higher. This scarcity, combined with demand from Registry Set collectors competing for the finest examples, drives the exponential price curve in the highest grades.
1987-P Washington Quarter (Philadelphia)
Mintage: 582,499,481 business strikes
The Philadelphia issue follows the classic conditional rarity pattern. While abundant in lower grades, fewer than 1% of graded examples achieve MS-67. The 1980s were notorious for poor mint quality control, with coins roughly handled during production and distribution, making pristine survivors exceptionally rare.
| Grade | Value Range |
|---|---|
| G-4 through AU-58 | $0.30 – $0.85 |
| MS-63 | ~$11 |
| MS-65 | $15 – $20 |
| MS-66 | $24 – $55 |
| MS-67 | $300 – $420 |
Notable Auction Records: A PCGS-graded MS-67 example realized $690(eBay, May 2018). Price guide values show divergence: PCGS Price Guide lists $300 while NGC Price Guide shows $420 for MS-67 grade.
1987-D Washington Quarter (Denver)
Mintage: 655,594,696 business strikes
The Denver issue exhibits the same conditional rarity pattern but with an intriguing pricing anomaly. A significant valuation divergence exists between the two major grading services for MS-67 specimens. PCGS Price Guide values an MS-67 at $340—more than 2.5 times the NGC Price Guide value of $135. Auction results strongly support the PCGS premium.
| Grade | Value Range |
|---|---|
| G-4 through AU-58 | $0.30 – $0.85 |
| MS-64 | $13 – $17 |
| MS-65 | ~$10 |
| MS-66 | $17 – $25 |
| MS-67 | $135 – $340 |
Notable Auction Records: PCGS-certified MS-67 examples have realized $676(Heritage Auctions, January 2015), $406(2024), $288, and $204. In contrast, an NGC-graded MS-67 realized only $94(2017). This suggests Registry Set collectors place significantly higher premiums on PCGS-certified examples of this specific issue.
1987-S Washington Quarter Proof (San Francisco)
Mintage: 4,227,728 proof strikes
The 1987-S proof presents a stark contrast to the business strikes. Produced exclusively for collectors and sold in annual Proof Sets, these coins were struck with care using specially prepared dies and polished planchets. The high mintage and controlled production environment mean that even "perfect" examples are readily available and affordable.
Proof coins receive special designations based on the contrast between their mirror fields and frosted devices. Standard Proof (PF) designation indicates mirror-like fields. Cameo (CAM) denotes light-to-moderate frost on design elements. Deep Cameo (DCAM) or Ultra Cameo (UCAM)—synonymous terms used by PCGS and NGC respectively—indicates heavy, fully-frosted designs creating maximum white-on-black contrast.
| Grade / Designation | Value Range |
|---|---|
| PF-67 (Standard) | $11.00 – $11.50 |
| PF-68 (Standard) | ~$12.50 |
| PF-69 (Standard) | ~$20 |
| PF-69 DCAM / UCAM | $16 – $20 |
| PF-70 DCAM / UCAM | $30 – $80 |
PCGS notes that PR-69 DCAM examples are "very common" for this issue. While PR-70 DCAM is "much scarcer," it remains affordable due to the large number of high-quality strikes. A historical 2003 auction record of $236 represents an outlier; more representative recent retail and auction data places PR-70 DCAM specimens between $30 and $80.
⚠️ Common Misidentification
Auction results showing 1987-S coins selling for $240 to $384 refer to the 1987-S American Silver Eagle, not the Washington Quarter. Always verify the denomination when researching prices.
Grading 1987 Washington Quarters: What to Look For
Understanding the grading nuances of clad quarters is essential for accurately assessing value, particularly given the exponential premium curve for 1987 business strikes in top grades. The difference between MS-66 (worth $25-$55) and MS-67 (worth $300-$690) comes down to subtle distinctions in surface preservation and luster quality.
Circulated Grades (Good through About Uncirculated): When evaluating circulated coins, wear first manifests as a dullness or flattening on the design's highest relief points. On the obverse, examine the curls of Washington's hair directly above the ear—these should show distinct separation in higher grades but become smooth and merged with wear. Check the cheek and jawline for the characteristic flattening that occurs with handling. On the reverse, focus on the center of the eagle's breast and the tops of its legs, where feather detail disappears first with circulation.
Distinguishing Strike Quality from Wear: A critical challenge with 1980s-era coins is differentiating between a weak strike and genuine circulation wear. Many 1987 quarters were struck with insufficient pressure, resulting in mushy, incomplete details even on coins that never circulated. A weak strike shows flat, undefined areas that are nevertheless lustrous and free of the telltale scuffing that accompanies actual wear. True wear appears as a dulling or abrading of the metal surface, destroying original luster in the affected areas.
Mint State Grading (MS-60 through MS-67): Uncirculated coins are graded based on the quantity, size, and location of contact marks ("bag marks" from mint handling), combined with the quality and completeness of the original mint luster. For 1987 quarters:
- MS-63: Numerous contact marks visible, particularly in open fields. Marks may appear on focal areas like Washington's face. Luster is present but may be slightly diminished.
- MS-65: Moderate number of small marks, most located in less conspicuous areas. No major marks on Washington's cheek, temple, or jaw. Good overall luster with minimal impairment.
- MS-66: Very few marks, all small and confined to non-focal areas. Excellent luster with strong cartwheel effect. No distracting marks on Washington's face.
- MS-67: Nearly flawless surfaces with only microscopic marks visible under magnification. Full, blazing mint luster throughout. Exceptional overall eye appeal. This grade represents less than 1% of submitted 1987-P and 1987-D quarters.
Marks on Washington's face—particularly the cheek, temple, and jaw—are the most detrimental to grade. Similarly, marks on or immediately adjacent to the date can significantly impact valuation. The strike quality matters as well: coins with well-defined hair curls and sharp feather details on the eagle grade higher than those with weak, mushy strikes, even if both are uncirculated.
Proof Grading (PF-60 through PF-70): Proof coins are graded on the preservation of their mirror finish and the absence of contact marks, spotting, or haze. For 1987-S proofs:
- PF-67 to PF-68: Generally mark-free but may show minor hairlines from light handling or imperfect storage. Mirror fields remain largely intact.
- PF-69: Virtually perfect mirrors with perhaps one or two microscopic imperfections visible only under magnification. For Deep Cameo designation, frosting must be complete and heavy.
- PF-70: Absolutely flawless under 5x magnification. No marks, spots, haze, or toning. Perfect strike with complete frosting for DCAM designation. While technically the "perfect" grade, the high 1987-S proof mintage means PF-70 DCAM examples are readily available.
1987 Quarter Mint Errors and Their Values
While standard 1987 quarters are common in circulated condition, coins struck with verifiable mint errors carry numismatic premiums. It's critical to rely on certified, realized auction prices rather than speculative online asking prices, which often bear no relationship to actual market values. The following values are based on documented auction results for authenticated error coins.
| Error Type | Mint | Grade | Realized Value |
|---|---|---|---|
| Curved Clipped Planchet | 1987-D | AU-55 (NGC) | $35 |
| Off-Center Strike (10%) | 1987-D | MS-65 (ANACS) | $44 |
| Broadstrike | 1987-P | MS-63 (NGC) | Auction record exists* |
| Lamination Error | 1987-P/D | Various | $5 – $30 (Est.) |
| Wrong Planchet (Dime) | 1987 | --- | $1,000+ (Est.) |
| Wrong Planchet (Nickel) | 1987 | --- | $500 – $1,500 (Est.) |
*Heritage Auctions, 2009. Specific realized price not listed in available records.
Curved Clipped Planchet: This error occurs when the coin blanking press punches out a planchet that overlaps the area where a previous planchet was removed, creating a smooth, curved missing section along the coin's edge. A certified 1987-D example in AU-55 grade realized $35(Stack's Bowers, Winter 2014).
Off-Center Strike: When the planchet is not properly centered between the obverse and reverse dies during striking, part of the design is missing and blank planchet is visible. A 1987-D quarter with 10% off-center strike, certified MS-65 by ANACS, sold for $44(Heritage Auctions). Value increases with the percentage off-center, but extreme off-center strikes (50%+) where the date remains visible command the highest premiums.
Broadstrike: This error occurs when the retaining collar that normally confines the metal during striking fails to engage, allowing the metal to spread beyond normal diameter. The coin appears larger and thinner than normal, with an unfinished edge lacking reeding. A certified example exists (Heritage Auctions, 2009), though the realized price is not documented in available records.
Lamination Errors: Minor planchet defects where impurities in the metal alloy cause surface flaking or peeling. These are relatively common on 1980s clad coins and carry modest premiums of $5 to $30 depending on size and location. Unverified asking prices of $250-$350 seen online are extreme outliers with no supporting market data.
Wrong Planchet Errors: These major errors occur when a quarter die strikes a blank intended for a different denomination. A quarter struck on a dime planchet would weigh only 2.268 grams (versus normal 5.67 grams) and measure 17.91mm diameter. A quarter struck on a nickel planchet would weigh 5.000 grams and measure 21.21mm diameter. These are significant errors that command substantial premiums when certified. Estimated values of $1,000+ for dime planchet errors and $500-$1,500 for nickel planchet errors are based on comparable wrong planchet errors from the same era, but certified examples are necessary for accurate valuation.
⚠️ No Recognized Die Varieties
A critical finding: there are no major, recognized die varieties for the 1987 Washington Quarter. Online listings claiming "1987-D RPM FS-501" refer to the 1987-D Lincoln Cent, not the quarter. Claims of "doubled dies" are almost universally misidentified machine doubling (worthless strike doubling). Neither PCGS nor NGC lists any collectible varieties for this date.
Authentication and Problem Coin Detection
Authenticating 1987 Washington Quarters primarily involves identifying problem coins—those that have been cleaned, artificially toned, or otherwise altered—rather than detecting counterfeits. Modern clad quarters are rarely counterfeited due to their low intrinsic value. However, a cleaned MS-67 coin worth $600 becomes a "Details-Cleaned" coin worth only a few dollars, making problem detection critical for high-grade business strikes.
Identifying Cleaned Coins: Under no circumstances should collectors clean their coins. Cleaning destroys the original surface and eliminates numismatic value. Signs of cleaning include unnatural hairline scratches on the coin's surface, often in circular or parallel patterns from brushing or wiping. The coin may exhibit an unnaturally flat, polished, or "waxy" appearance, lacking the proper rotating "cartwheel" luster that genuine mint state coins display when tilted under a light source. Dipped coins (cleaned with chemical solutions) may appear overly bright or have a slightly dulled, etched surface texture.
Third-party grading services like PCGS and NGC will designate cleaned coins as "Genuine" with a "Details" grade, noting "Cleaned" as the reason for not receiving a numeric grade. These coins trade for a small fraction of their potential uncleaned value.
Detecting Artificial Toning: While toning is less common on modern clad coins than on silver issues, artificial toning does occur. Natural toning develops slowly over decades, featuring smooth, gradual color transitions (yellow to pink to blue). Artificial toning often appears splotchy, with unnaturally bright "crayon" colors such as deep purple, red, or blue, lacking smooth color progression. A definitive sign of alteration is toning that exists over hairline scratches—genuine toning develops on undamaged surfaces, so toning covering damage indicates the coin was damaged, then artificially toned to disguise the impairment.
When to Seek Professional Grading: For 1987 business strikes in apparent MS-66 or MS-67 condition, third-party certification is essential. The price difference between these grades is substantial, and only PCGS or NGC certification will be accepted by serious collectors and Registry Set participants. The cost of certification ($30-$75 depending on service level) is easily justified when the grade difference represents hundreds of dollars in value. For 1987-S proofs, certification is advisable for PR-69 DCAM and higher, though the lower premiums for this issue make raw (ungraded) coins acceptable for basic collections.
For error coins, certification is critical regardless of the error type. Only authenticated error coins command significant premiums, and certification provides both authentication and protection through hard plastic encapsulation.
Proper Storage and Preservation
Proper preservation is essential for maintaining the numismatic value of 1987 quarters, particularly for high-grade business strikes where even minor storage damage can result in hundreds of dollars in value loss. The most common and devastating mistake is storage in improper holders containing polyvinyl chloride (PVC).
The PVC Danger: Never store coins in soft, flexible vinyl flips or holders. These materials contain PVC, which leaches plasticizers over time, depositing a green, sticky, corrosive film on the coin's surface. This "PVC damage" is permanent and destroys both the coin's surface and its value. Even brief exposure (months) can cause noticeable damage.
Recommended Storage: Coins must be stored in inert, archival-quality materials. Acceptable options include hard plastic capsules, 2x2 cardboard holders with Mylar (polyester) windows, or acid-free collector albums specifically designed for coin storage. For long-term preservation of valuable specimens, third-party grading encapsulation in PCGS or NGC "slabs" provides the highest level of protection. These sonically-sealed hard plastic holders are inert, tamper-evident, and provide permanent authentication and grade verification.
Handling Best Practices: Always hold coins by their edges, never touching the obverse or reverse surfaces. Skin oils contain acids and salts that can cause spotting and toning over time. For high-value coins, use cotton gloves or hold the coin over a soft cloth surface to prevent drops. Store coins in a cool, dry environment away from temperature fluctuations and humidity, which can accelerate toning and environmental damage on clad surfaces.
Intrinsic Metal Value of 1987 Quarters
The 1987 Washington Quarter contains no silver and has negligible intrinsic metal value. Understanding the composition and melt value helps establish that all collectible value derives purely from numismatic demand, not precious metal content.
Composition Breakdown: Each coin weighs 5.67 grams total. The outer cladding layers are 75% copper and 25% nickel, bonded to a pure copper core. The overall metallic composition is 91.67% copper (5.198 grams) and 8.33% nickel (0.472 grams).
Based on commodity spot prices from November 7, 2025—copper at $4.94 per pound and nickel at $6.76 per pound—the calculated melt value is approximately 6.4 cents. This is significantly below the 25-cent face value, meaning these coins have no practical melt value. Online silver melt calculators focus exclusively on pre-1965 90% silver quarters, which contain 0.1808 troy ounces of silver and have substantial intrinsic value. Modern clad quarters are intentionally designed with base metal content insufficient to justify melting.
This negligible melt value reinforces why even heavily circulated 1987 quarters are essentially worth only face value, while pristine specimens can command hundreds of dollars based solely on condition rarity and collector demand.
Frequently Asked Questions
How much is my 1987 quarter worth?
A circulated 1987 quarter is worth face value (25 cents). Uncirculated coins in MS-65 grade are valued at $10-$20. The top grade of MS-67 commands $300-$690 for business strikes due to extreme rarity in pristine condition. Proof strikes (1987-S) in perfect PR-70 DCAM grade sell for $30-$80.
Where is the mint mark located on a 1987 quarter?
The mint mark appears on the obverse (front) of the coin, to the right of George Washington's braid ribbon, directly above the "7" in the date "1987". You'll find either a "P" (Philadelphia), "D" (Denver), or "S" (San Francisco). Many 1987-P quarters have no visible mint mark—this is normal for Philadelphia coins from this era.
Are there any valuable 1987 quarter varieties?
No. There are no recognized die varieties for the 1987 Washington Quarter. Claims of "1987-D RPM FS-501" refer to the Lincoln Cent, not the quarter. Alleged "doubled dies" are invariably misidentified machine doubling, which has no numismatic value. Neither PCGS nor NGC lists any collectible varieties for this date.
Why are MS-67 examples so valuable?
The 1980s featured notoriously poor mint quality control and rough coin handling. Of 46,468 1987-P quarters graded by PCGS, only 352 (0.75%) achieved MS-67, with none grading higher. This extreme scarcity, combined with demand from Registry Set collectors, creates exponential premiums for the finest survivors despite massive production numbers.
Should I get my 1987 quarter professionally graded?
Yes, if you have a business strike (1987-P or 1987-D) in apparent MS-66 or MS-67 condition. The value difference between these grades is $200-$600, easily justifying the $30-$75 grading fee. For 1987-S proofs, certification is advisable for PR-69 DCAM or higher. Circulated coins should not be graded as the cost exceeds their face value.
What errors are found on 1987 quarters?
Documented error types include off-center strikes ($44 for 10% off-center), curved clipped planchets ($35), broadstrikes, and minor lamination errors ($5-$30). Wrong planchet errors (struck on dime or nickel blanks) are major errors worth $500-$3,000 when certified. Error coins must be authenticated by a major grading service to command premiums.
How can I tell if my 1987 quarter is a proof?
Proof coins have mirror-like reflective fields and frosted design elements, creating a cameo effect. They are much sharper in detail than business strikes. All 1987-S quarters are proofs—San Francisco produced no business strikes this year. If your coin has an "S" mint mark, it's a proof. Business strikes (P and D mint marks) have satiny, slightly textured surfaces.
Can I clean my 1987 quarter to improve its value?
No. Never clean coins under any circumstances. Cleaning destroys the original surface and eliminates numismatic value. A potential MS-67 coin worth $600 becomes a "Details-Cleaned" coin worth a few dollars if cleaned. Even gentle cleaning creates microscopic hairline scratches visible under magnification, immediately identifying the coin as damaged.
What's the difference between Cameo and Deep Cameo on proofs?
Cameo (CAM) indicates light-to-moderate frosting on the raised design elements contrasting with mirror fields. Deep Cameo (DCAM) or Ultra Cameo (UCAM) denotes heavy, fully-frosted devices creating maximum white-on-black contrast. DCAM/UCAM designation adds value, though for the high-mintage 1987-S proof, even perfect PR-70 DCAM examples are common and affordable at $30-$80.
Is the 1987-D quarter rarer than the 1987-P?
No. The Denver mint actually produced 73 million more business strikes (655.6 million vs 582.5 million). However, in MS-67 grade, the 1987-D shows greater premiums for PCGS-certified examples ($340 vs $300 PCGS price guide), suggesting collectors perceive PCGS MS-67 grading as more difficult for the Denver issue. Both are condition rarities in top grades.
Research Methodology and Data Sources
This value guide synthesizes data from authoritative numismatic sources to provide accurate, current market valuations. Price ranges are derived from PCGS CoinFacts and NGC Coin Explorer price guides, supplemented by verified auction records from Heritage Auctions, Stack's Bowers, and eBay. Mintage figures are sourced from U.S. Mint production records. Population data comes from PCGS and NGC census reports current as of November 2025.
Grading diagnostics and authentication guidance follow industry standards established by the Professional Numismatists Guild and the American Numismatic Association. Composition and specifications are verified through U.S. Mint official documentation. All external references are cited with URLs where available, allowing readers to verify source data.
Market values for rare coins fluctuate based on collector demand, precious metal prices, and economic conditions. Values presented represent current market conditions as of November 2025 and should be considered estimates. Actual realized prices may vary based on eye appeal, toning, strike quality, and current market dynamics. For significant transactions, consult multiple dealers or recent auction records to establish current fair market value.
