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<p>[QUOTE=&quot;Tom B, post: 882672, member: 11854&quot;]Leadfoot is correct when he wrote that the 1932-S WQ is a very common coin.&nbsp; I have been <i>heavily involved </i> with the WQ series since before the Statehood Quarters (SQs) were unveiled and in all that time the market has been swimming in 1932-S WQs.&nbsp; The coin was known very early on as a low mintage coin and relatively large percentage were saved from circulation.&nbsp; It and the 1932-D were sold at a premium relatively early and these were picked out of circulation well before other WQs were picked out of circulation.</p><p>&nbsp;</p><p>Of course, this does not change the fact that the initial mintage is quite low for the series and it does not change the perception that the 1932-S is a &quot;key&quot; coin.&nbsp; Truly, I don&#039;t think any regular issue WQ is &quot;key&quot; when it comes to the AG-F grades, but as the grades go higher then the 1932-D and 1932-S are the toughest in VF-EF.&nbsp; However, the 1936-D is tougher than the 1932-S when true AU-MS coins are examined.</p><p>&nbsp;</p><p>The number of 22 million for coin collectors or quarter collectors is what you want to make of it, but I interpret it broadly to mean anyone who fills a cardboard SQ album or who plucks SQs out of circulation.&nbsp; The <i>vast majority </i> of these folks will not endeavor to put together a complete date and mintmark set of WQs.&nbsp; This is similar to those who claim to collect Lincoln cents in that the <i>vast majority </i> will never need or want to buy the ever available &quot;key&quot; date 1909-S VDB.&nbsp; All three of these coins, the 1932-D, 1932-S and 1909-S VDB are what they are, but what they aren&#039;t is rare.&nbsp; Check ebay or Heritage for certified examples and it will not take long to buy a bucketful.&nbsp; Additionally, I believe the lion&#039;s share of the bump in this series took place from 1998-2000 when the first enormous wave of SQ collectors jumped in to tackle the larger set and prices rose dramatically.&nbsp; They have since stayed relatively stable or have fallen slightly.</p><p>&nbsp;</p><p>I have no problems with someone buying one of these raw are a flea market, but at $195 for an EF40 or EF45 then one is paying near or completely full retail and that doesn&#039;t feel like a good buy for a raw coin under such circumstances.&nbsp; This coin in this grade is much more liquid already certified and that expense is not needed to be added to the cost of acquisition under the circumstances.[/QUOTE]</p><p><br /></p>

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