1940-S

San Francisco produced 8,244,000 quarters in 1940, a meaningful increase over the very low 1937-S (1.65 million) and 1939-S (2.63 million) figures and the largest S-mint Washington output the series had seen since the mintmark moved to the reverse in 1932. The S mintmark sits below the wreath, the standard branch-mint placement that would hold through 1964. The date is solidly Regular catalog territory, neither low enough in mintage to be a Semi-Key candidate nor high enough to be among the truly common common dates; it sits in the middle of the early-1940s San Francisco run, between the borderline scarce 1939-S and the larger 1941-S issue.

Strike on the 1940-S is generally good, with the typical San Francisco crispness on hair detail and central eagle feathers that distinguishes the mint's late-1930s and early-1940s output from the softer Denver work of the same period. The grade distribution at PCGS, the Professional Coin Grading Service, shows the coin is widely available through MS65, available in MS66 with reasonable patience, and tougher at MS67 where bag marks and surface flaws thin the population. No major doubled-die or repunched-mintmark varieties are attributed to the date, so authentication centers on confirming a legitimate S mintmark struck into the die. Added-mintmark forgeries on 1940 Philadelphia hosts appear occasionally; the diagnostic involves checking mintmark depth, placement relative to the wreath leaves, and consistency with overall strike pressure.

For set builders, the 1940-S is a comfortable acquisition at any grade through MS66, with realistic certified pricing reflecting common-date status across most of the population curve. The premium attaches at MS67 and above, where registry-set competition drives prices well above what raw mintage rarity would suggest. Long-term price trends have been measured, with steady demand from Washington quarter collectors and modest upward movement at the very top of the grade scale. The 1940-S completes the date alongside the common 1940 Philadelphia and the borderline-scarce 1940-D, with the Denver issue presenting the real structural challenge in the trio. For the broader story of John Flanagan's design and the series' production arc, see the Washington Quarter series history.