1923

Production of Standing Liberty Quarters resumed at Philadelphia in 1923 after a complete shutdown of the denomination in 1922. The Treasury had concluded that sufficient quarters were already in circulation following the heavy 1919 and 1920 mintages, postwar economic adjustment had further reduced demand, and the Mint's silver capacity in 1922 was committed to Peace dollar production under the Pittman Act of 1918. When coinage resumed, Philadelphia struck 9,716,000 pieces, restoring the quarter to active circulation but not at the volumes seen earlier in the decade. The 1923 issue therefore occupies a transitional spot in the series, bracketed by the 1922 production gap on one side and the heavier 1924 mintages on the other. Most surviving examples saw substantial commercial use during the 1920s, leaving high-grade survivors meaningfully scarcer than the mintage figure alone would imply.

The coin follows the standard Type 2 specifications: 6.25 grams of 90% silver and 10% copper, 24.3 mm diameter, reeded edge. Liberty appears in chain mail with the eagle elevated on the reverse and three stars added below. Hermon Atkins MacNeil's "M" monogram remains visible at the base of the shield, and Philadelphia issues carry no mintmark above the date. Strike quality on 1923 quarters is typically average, with Full Head designations representing only a fraction of certified examples. Collectors evaluating originality should check for crisp inner ear detail, sharp helmet feathering, and complete shield rivets, all of which are common weak points. The date itself sits proud of the field on Type 2 issues, contrasting with the recessed dates introduced in 1925.

PCGS and NGC populations show the 1923 as obtainable in circulated grades and respectable mint state, with prices remaining moderate until MS-65 Full Head territory. Heritage Auctions records confirm steady demand from set builders, especially among collectors building post-1922 date runs. Pricing differentials between weakly struck and sharply struck Mint State coins can be substantial, so original luster and complete central detail meaningfully influence market value. Continue exploring the Standing Liberty Quarter series history.