1987 P Washington Quarter Value and Collector Price Guide
The 1987 P Washington Quarter is worth anywhere from its face value of $0.25 in worn condition to over $350 in high-grade mint state. If you have found one of these coins in your pocket change or an old jar, you might be curious if you have stumbled upon a rare treasure.
How Much Is a 1987 P Washington Quarter Worth Right Now
The value of a 1987 quarter from the Philadelphia mint depends almost entirely on its physical condition and luster. For most people, a quarter found in daily circulation is only worth 25 cents because hundreds of millions were produced. However, collectors look for “uncirculated” coins that have never been used to buy groceries or snacks. Using a free coin identifier app can help you quickly determine if your coin has the sharp details required for a higher premium.
In typical pocket change condition, these coins are common. But when you find one that looks like it just came from the bank—shiny, with no scratches on President Washington’s cheek-the price starts to climb. According to recent market data, the 1987 P Washington Quarter value in MS65 condition usually sits around $5 to $10. If you are unsure about the grade, many enthusiasts use the CoinKnow app to compare their coins against high-resolution images of certified specimens.
For the serious investor, the real money is in coins graded MS67 or higher. These are “Superb Gem” coins that are nearly flawless under a magnifying glass. While a standard 1987-P is easy to find, one in perfect condition is extremely rare because the Philadelphia mint’s production quality in the late 80s often resulted in “bag marks” or scuffs.
Identifying the 1987 Philadelphia Mint Mark
To know if your quarter is a 1987-P, you need to look for the mint mark. On the “obverse” (the heads side), look to the right of George Washington’s ponytail. You will see a small letter “P.” This stands for the Philadelphia Mint. During 1987, the Philadelphia Mint produced 405,504,000 quarters, making it a very high-volume year. Because so many were made, only those in exceptional condition or those with rare errors attract high prices from collectors.
If you don’t see a “P,” you might have a “D” (Denver) or an “S” (San Francisco proof). The CoinKnow app can help you distinguish between these mint marks if the coin is dirty or worn. Exploring the 1987 Washington Quarter price and rarity details shows that while Philadelphia coins are common, they are a staple for anyone trying to complete a “date and mint mark” set of Washington Quarters.
Collectors often look for the “strike” of the coin. On the 1987-P, look at the eagle’s feathers on the reverse side. If the feathers are sharp and distinct, the coin was struck with a fresh die and is much more desirable. Worn coins will have flat feathers and polished-looking surfaces on Washington’s hair, which keeps the value at face value.
| Condition / Grade | Estimated Market Value |
|---|---|
| Circulated (Good to About Uncirculated) | $0.25 – $0.35 |
| Uncirculated (MS60 – MS63) | $1.00 – $3.50 |
| Choice Uncirculated (MS65) | $10.00 – $25.00 |
| Gem Uncirculated (MS66) | $40.00 – $85.00 |
| Superb Gem (MS67+) | $350.00+ |
Key Errors and Varieties to Look For
Sometimes, a mistake at the mint can turn a regular 25-cent coin into a jackpot. While the 1987-P is not famous for any massive “doubled die” errors like some other years, there are subtle variations that can increase the value. One common find is the “Off-Center Strike,” where the coin blank wasn’t aligned properly, causing part of the design to be missing. Depending on how much of the design is cut off, these can sell for $20 to over $100.
Another thing to keep an eye out for is “Die Cracks.” As the metal stamps (dies) get old, they develop cracks that show up as raised lines of metal on the finished coin. If you find a 1987-P with a significant “Cud” (a large blob of extra metal on the edge), you may have something worth significantly more than a quarter.
If you think you see something strange on your coin, like double lettering or a weird texture, CoinKnow is a great tool for identifying these anomalies. Most “errors” found in pocket change are actually just damage from being dropped or hit by other coins, but it is always worth a second look before spending it at the vending machine.
The Rarity of High Grade 1987-P Quarters
Why is a coin worth $350 while another is only worth 25 cents? In the world of coin collecting, condition is everything. By 1987, the United States Mint had stopped using silver in quarters (this ended in 1964), so these coins are made of a copper-nickel “clad” composition. Because they aren’t made of precious metal, their value is derived strictly from “numismatic” rarity.
The 1980s were a decade where many coins were struck with worn-out dies or handled roughly at the mint. Finding a 1987-P that managed to escape the mint, survive in a bag, and stay out of circulation while maintaining a “perfect” surface is very difficult. Professional grading services like PCGS or NGC assign a number from 1 to 70. A 1987-P graded MS67 is so rare that it can spark bidding wars at auctions.
For the everyday American, the best way to find a valuable 1987-P is to look through “Mint Sets” from that year. People often bought these sets directly from the government and kept them in plastic, protecting them from the wear and tear of the real world. If you inherit a collection, check the 1987 sets first!
Q: Is a 1987-P quarter made of silver?
A: No, 1987-P quarters are made of a copper-nickel clad composition. The U.S. Mint stopped making silver quarters for general circulation in 1964.
Q: How can I tell if my 1987 quarter is valuable?
A: Check the condition first. If it looks shiny and new with no scratches, it may be worth a few dollars. If it has a visible mint error, like a misshapen edge or doubled letters, its value could be much higher.
Q: What does the “P” stand for on the 1987 quarter?
A: The “P” mint mark stands for the Philadelphia Mint, where the coin was produced. If there is no letter or a “D,” it was struck in a different facility.
