The U.S. Mint’s 50 State Quarters Program, running from 1999 to 2008, introduced unique designs for each state, captivating both collectors and the general public. Among these, the 2002 Indiana State Quarter stands out—not just for its design but also for its potential value.
Understanding the 2002 Indiana State Quarter
Released in 2002, the Indiana State Quarter features a race car superimposed on the state outline, celebrating Indiana’s rich automotive history and its nickname, “The Crossroads of America.” The coin was minted in both Philadelphia (P mint mark) and Denver (D mint mark), with mintages of 362,600,000 and 327,200,000 respectively.
The $3,760 Indiana Quarter: What Makes It Valuable?
While millions of Indiana quarters were produced, certain factors can elevate a coin’s value significantly:
- Mint State Grade (MS): Coins are graded on the Sheldon Scale from 1 to 70, with higher numbers indicating superior condition. An Indiana quarter graded MS69 (near-perfect condition) is exceptionally rare.
- Auction Record: In 2017, a 2002-D Indiana State Quarter graded MS69 sold for $3,760 at auction, highlighting the premium placed on high-grade specimens.
Identifying Valuable Indiana Quarters
To determine if your Indiana quarter holds significant value:
- Examine the Coin’s Condition: Look for minimal wear, strong luster, and sharp details. Coins with scratches, discoloration, or wear are less likely to be highly graded.
- Check for Minting Errors: Some Indiana quarters exhibit errors like rim cuds (raised areas on the coin’s edge due to die breaks) or die cracks. Such anomalies can increase a coin’s value.
- Consider Professional Grading: Submitting your coin to a reputable grading service like PCGS or NGC can provide an official grade, which is crucial for determining value.
Key Details of the 2002 Indiana State Quarter
| Feature | Description |
|---|---|
| Design | Race car over state outline; “Crossroads of America” inscription |
| Mint Marks | ‘P’ for Philadelphia; ‘D’ for Denver |
| Total Mintage | Philadelphia: 362,600,000; Denver: 327,200,000 |
| Notable Auction Price | $3,760 for an MS69 graded 2002-D Indiana Quarter (sold in 2017) |
| Common Errors | Rim cuds, die cracks |
Tips for Coin Collectors
- Handle with Care: Always hold coins by the edges to avoid fingerprints and potential damage.
- Proper Storage: Store coins in a cool, dry environment using holders or albums designed for coin preservation.
- Stay Informed: Keep up with numismatic news and auction results to understand market trends and the value of specific coins.
While the chances of finding a $3,760 Indiana State Quarter in your change are slim, it’s not impossible. By familiarizing yourself with the coin’s design, understanding the factors that contribute to its value, and carefully examining your quarters, you might just discover a hidden treasure.
FAQs
What makes the 2002 Indiana State Quarter valuable?
Its value increases significantly when in near-perfect condition (MS69) or when exhibiting unique minting errors.
How can I determine the grade of my quarter?
Professional grading services like PCGS or NGC can assess and assign an official grade to your coin.
Are all Indiana quarters with errors valuable?
Not necessarily. The value depends on the type and prominence of the error, as well as the coin’s overall condition.
