What is the Real Value of PCGS Washington Quarter CAC Reconsideration Sub in Today’s Market?

Understanding the Washington Quarter Market

Determining the true value of this piece requires looking past the book price and understanding current market demand. The Washington quarter series, minted from 1932 to 1998, remains one of the most popular collecting series in American numismatics. When examining coins submitted for reconsideration, particularly those already graded MS67 or MS67+, we must consider the specific challenges and opportunities within today’s market.

Current Market Analysis

The Washington quarter market has shown remarkable resilience over the past decade. Recent auction results indicate that high-grade examples continue to command premium prices, especially those with exceptional eye appeal or unique toning patterns. According to recent Heritage Auctions data, PCGS MS67+ Washington quarters have been selling in the $200-500 range, depending on the date and mint mark.

For coins already graded MS67+, the path to MS68 represents a significant jump in both grade and value. Current market data shows that PCGS MS68 Washington quarters can command prices ranging from $1,000 to over $5,000, with particularly rare dates or those with exceptional toning achieving even higher prices. The investment potential here is substantial, but the probability of success must be carefully weighed.

Factors Affecting Value

Grade Rarity and Population Reports

One of the primary factors driving value in the Washington quarter series is grade rarity. Population reports from PCGS show that MS68 examples are exponentially rarer than MS67+ coins. For instance, while thousands of Washington quarters exist in MS67, the number drops dramatically at the MS68 level. This scarcity creates a significant value premium for top-tier examples.

Toning and Eye Appeal

The forum discussion highlights several coins with exceptional toning, particularly the 1941-S and the 1964-D. Toning has become increasingly important in the modern market, with collectors willing to pay substantial premiums for naturally toned coins with attractive color patterns. The rainbow toning mentioned on the 1964-D could potentially increase its value by 20-50% if it receives a favorable grade.

Historical Significance

Certain dates within the Washington quarter series carry additional historical significance. The 1932-D and 1932-S, being the first-year issues, command premiums regardless of grade. Similarly, the 1964-dated quarters mark the last year of 90% silver composition, making them particularly desirable to both collectors and precious metal investors.

Investment Potential Analysis

Short-term Outlook

In the short term, the Washington quarter market appears stable with potential for modest growth. Coins with CAC (Certified Acceptance Corporation) stickers continue to outperform non-CAC examples, often selling for 10-30% premiums at auction. The forum mentions several CAC-stickered coins, which bodes well for their investment potential.

Long-term Considerations

Looking at long-term investment potential, Washington quarters offer several advantages. The series is complete and finite, with no new examples being added. As collectors age and potentially exit the market, high-grade examples may become even scarcer on the market. Additionally, the growing interest in toned coins suggests that pieces with exceptional eye appeal could see continued appreciation.

Market Challenges and Considerations

Grading Service Policies

As several forum participants noted, obtaining upgrades on coins already graded MS67+ presents significant challenges. PCGS and other grading services have become increasingly conservative in their grading standards, particularly at the upper grade levels. This conservatism, while maintaining market stability, does make significant upgrades less likely.

Condition Rarity

The discussion mentions that coins from the 1960s seem to be more forgiving of minor imperfections at higher grades. This observation aligns with market data showing that MS68 examples from this era are particularly rare and valuable. The condition rarity factor becomes especially important when considering the investment potential of these coins.

Strategic Submission Recommendations

Best Candidates for Upgrade

Based on the forum discussion and market analysis, the most promising candidates for upgrade appear to be:

• The 1941-S quarter, described as “really outstanding”
• The 1941-D with the “splendid reverse”
• The 1949 quarter, which wasn’t specifically described but was mentioned as having potential
• Any coins with vivid, natural toning

Alternative Strategies

One forum participant suggested that submitting low-end MS67 coins alongside the CAC examples might have provided better upgrade opportunities. This strategy could potentially yield more successful upgrades while maintaining similar overall value if successful.

Conclusion

The Washington quarter market continues to offer solid investment potential, particularly for high-grade examples with exceptional eye appeal. While obtaining upgrades on already high-grade coins presents challenges, the potential rewards can justify the risk. The key factors to consider are:

• Current market prices and recent auction results
• The rarity of top grades in the specific date and mint
• The presence and quality of toning
• CAC sticker status
• Historical significance of the date

For collectors and investors considering similar submissions, careful selection of candidates and realistic expectations are essential. While not every coin will achieve the desired upgrade, the potential for significant value increases in top-tier examples makes the endeavor worthwhile for many collectors. As always, working with reputable dealers and carefully documenting all submissions can help maximize the chances of success in the competitive world of high-grade Washington quarter collecting.

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