1923-S Standing Liberty Quarter

The 1923-S is one of the classic key dates of the Standing Liberty quarter series, prized for its low mintage and consistent scarcity across the grading scale. It is frequently mentioned alongside the 1916, 1921, and 1927-S as one of the series' most important dates for collectors.

Because of its recognized rarity, the 1923-S is often the last or most expensive coin acquired when building a complete Standing Liberty quarter date set.

The San Francisco Mint struck a relatively small number of quarters in 1923 as part of the ongoing Standing Liberty quarter series, which had been in its Type 2 form since mid-1917. Reduced demand for new coinage at that mint that year resulted in a mintage considerably lower than many other dates in the series.

As the coin circulated over subsequent decades, its scarcity was gradually recognized by collectors, and it has long been established as one of the series' principal key dates in numismatic reference works.

The design matches the Type 2 Standing Liberty format, with Liberty standing in a gateway wearing chain mail, holding a shield and olive branch, and an eagle in flight with three stars beneath it on the reverse. The mintmark S is located on the obverse to the left of the date.

As with other dates from this period, the date lacks the recessed pedestal introduced in 1925, so worn examples can show a faint or partially legible date, requiring careful examination to confirm the date and mintmark on lower-grade coins.

The 1923-S commands significant premiums over common dates even in heavily circulated condition, with values rising steeply through higher circulated and mint state grades. Full Head examples are extremely rare for this date and bring some of the highest prices in the series.

Given its status as a well-known key date, buyers should be attentive to authenticity, particularly regarding the mintmark, and certified examples are commonly preferred for higher-value transactions.