Ever found a George Washington dollar coin and wondered if you’re holding a small fortune? Despite what many folks believe, these aren’t actually made of gold – but they can still be worth more than face value under the right circumstances. Let’s break down what these Presidential dollars are really worth and which ones might be hiding in your spare change.
The Truth About “Gold” Washington Dollars
First, a quick reality check – those shiny gold-colored Washington dollar coins aren’t actually gold. They’re made of
- 88.5% copper
- 6% zinc
- 3.5% manganese
- 2% nickel
This gives them their distinctive golden appearance without the precious metal price tag. They’re part of the Presidential dollar series that ran from 2007 to 2020, with Washington being the first president honored in the series in 2007.
Standard Washington Dollar Values
For most everyday George Washington dollar coins, here’s what you can expect:
| Condition | Typical Value |
|---|---|
| Circulated coins | Just $1 (face value) |
| Uncirculated (MS60) | $3 |
| Gem uncirculated (MS65) | $7 |
Not exactly retirement money, right? But don’t be disappointed yet – there are some versions that command much higher prices.
The High-Value Washington Dollars
Some specific varieties of the Washington dollar can be worth significantly more:
Position A vs Position B Varieties
These coins have lettering on their edge, and depending on how that lettering is oriented, they’re classified as either:
- Position A: Edge lettering appears upside down when Washington’s portrait faces up
- Position B: Edge lettering appears right-side up when Washington’s portrait faces up
The finest examples (MS67) of these coins can sell for:
- Position A from Philadelphia (P mint): $125
- Position B from Philadelphia (P mint): $335
- Position A from Denver (D mint): $450
The Missing Edge Lettering Error
Perhaps the most valuable regular Washington dollars are those with missing edge lettering. This manufacturing error means the coins are missing:
- The mint mark
- The year
- The motto “E Pluribus Unum”
- The 13 stars
These error coins can be worth:
- $16 in MS60 condition
- $32 in MS65 condition
- $275 in MS67 condition
- A whopping $4,250 in MS68 condition!
Special Finish Washington Dollars
Proof Coins
Proof Washington dollars were struck at the San Francisco mint with an “S” mint mark. These have:
- Highly polished surfaces
- Sharp details
- Mirror-like backgrounds
These are worth:
- $3-$4 for lower proof grades
- $5 for PR65
- $30 for perfect PR70 examples
Satin Finish Coins
Some Washington dollars were produced with a special satin finish for mint sets. These special strikes can be worth:
- $3 for basic uncirculated examples
- $5-$8 for better examples
- $55-$200 for the finest specimens (SP69)
Rarest Washington Dollar: Missing Edge Lettering on Satin Finish
The holy grail of Washington dollars combines the missing edge lettering error with the satin finish. These are extremely rare and valuable:
- SP63 grade: $500
- SP64 grade: $1,150
- SP65 grade: $1,350
- SP66 grade (finest known): $2,500
How to Identify Your Washington Dollar
To determine if your coin might be valuable, check these details:
- Mint mark location: Unlike most coins, the mint mark is on the edge, not the face
- Edge lettering: Check if it’s present, and if so, its orientation
- Finish: Regular business strike, proof (mirror-like), or satin
- Condition: Uncirculated coins are worth more than circulated ones
Common Questions About Washington Dollars
Are George Washington dollars real gold?
No! Despite their golden appearance, they contain no gold whatsoever. They’re primarily copper with zinc, manganese, and nickel.
How do I know if my Washington dollar is valuable?
Check for missing edge lettering, look at the condition (uncirculated coins are worth more), and examine the orientation of the edge lettering to identify Position A or Position B varieties.
Where is the mint mark on a Washington dollar?
Unlike most U.S. coins, the mint mark appears on the edge of the coin, along with the date, 13 stars, and the motto “E Pluribus Unum.” If your coin is missing edge lettering, you won’t be able to identify which mint produced it.
How many Washington dollars were made?
Approximately 340,360,000 regular strike Washington dollars were produced, plus nearly 4 million proof coins.
What Makes Some Washington Dollars Worth More?
The most valuable Washington dollars share these characteristics:
- Exceptional condition (MS67 or higher)
- Missing edge lettering error
- Satin finish
- Position B varieties (less common than Position A)
Selling Your Washington Dollar
If you think you’ve got a valuable Washington dollar, consider:
- Having it professionally graded by PCGS or NGC
- Researching recent sales of similar coins
- Contacting reputable coin dealers for appraisals
- Exploring online auction sites that specialize in coins
Final Thoughts
While most George Washington dollars are worth just their face value, certain varieties and errors can command surprising premiums. The coins that combine high grades with rare errors (like missing edge lettering on satin finish coins) represent the peak of the market.
Remember that condition is everything in coin collecting. An uncirculated Washington dollar with no special attributes might be worth $3-$7, but the same coin with missing edge lettering and in pristine condition could fetch thousands.
So next time you come across one of these golden-colored coins, take a closer look – you might just have one of the rare varieties worth far more than a dollar!
