1923-S

Among the conditional rarities of the series, the 1923-S Standing Liberty Quarter stands out as a true semi-key with a published mintage of only 1,360,000 pieces, the second-lowest production figure for any business-strike date in the entire run. San Francisco struck a tiny fraction of the year's national quarter output, and the resulting coins entered hard-working Pacific Coast commerce where they circulated heavily for decades. By the time collectors began saving Standing Liberty Quarters in significant numbers, well-preserved 1923-S examples had become genuinely difficult to locate, particularly in problem-free mint state. The coin frequently anchors registry sets and remains a date that determines completion difficulty for collectors building the series in higher grades. Type 2 production resumed at only Philadelphia and San Francisco in 1923 following the complete 1922 shutdown, and Denver struck no quarters at all that year.

The 1923-S follows Type 2 specifications: 6.25 grams of 90% silver and 10% copper alloy, 24.3 mm diameter, reeded edge, with Liberty in chain mail and the eagle reverse showing three stars beneath. The "S" mintmark sits above and to the left of the date, and authentication should focus on the mintmark's serif structure and exact positioning, since added mintmarks have appeared on 1923 Philadelphia hosts attempting to pass as the rare San Francisco issue. Genuine S mintmarks display the period-appropriate San Francisco serif style, sharp interior and consistent depth matching surrounding date numerals. Originality concerns also dominate this date, as cleaned, dipped, and lightly polished examples are common in the marketplace. Full Head specimens are exceedingly scarce and command substantial premiums.

PCGS and NGC certification data confirm the 1923-S thins rapidly above XF, with mint state examples genuinely uncommon. Heritage Auctions and Stack's Bowers have realized strong prices for original gem examples. Explore the complete Standing Liberty Quarter series history.