The 1978 Quarter with No Mint Mark Explained Clearly
The 1978 Quarter No Mint Mark coins are products of the Philadelphia Mint.
The absence of a mint mark on quarters from this period follows the established standard effective until 1980.
The total mintage volume and the current preservation of surviving specimens determine their positioning within numismatic catalogs.
In 1978, the U.S. Mint distributed production capacities across three primary locations.
Mint Location | Mark | Mintage |
Philadelphia | None | 521,452,000 |
Denver | D | 287,373,152 |
San Francisco | S (Proof) | 3,127,781 |
The Philadelphia mintage of 521.4 million units excludes rarity factors for coins found in circulation.
Most of these coins retain a nominal value not exceeding 25 cents.
Standard Specimen
1978 quarters were manufactured using the cladding technology adopted in 1965.
Physical parameters of the product:
Inner layer: 100% copper.
Outer coating: Alloy of copper (75%) and nickel (25%).
Total weight: 5.67 grams.
Diameter: 24.26 mm.
Thickness: 1.75 mm.
Edge: Reeded (119 reeds).
Weight deviations exceeding 0.15 grams indicate potential production defects or metal wear.
Pricing Based on Grade
The market value of the 1978 Philadelphia quarter correlates with surface quality and the absence of contact damage.
Condition (Grade) | Current Price (USD) | Annual Change Percentage |
MS63 | $1.00 - $2.00 | 0% |
MS64 | $3.00 - $5.00 | +1% |
MS65 | $10.00 - $15.00 | +2% |
MS66 | $25.00 - $45.00 | -1.5% |
MS67 | $200.00 - $450.00 | +5% |
MS67+ | $1,200.00+ | +8% |
Stagnation in the MS66 category results from an increasing number of certified specimens entering the market from unsearched bank rolls.
The shortage of coins in MS67+ grade ensures a stable value increase exceeding inflation rates.
Auction Records and Maximum Payouts
Maximum prices for 1978 quarters are recorded exclusively for specimens possessing PCGS or NGC certificates.
Record for MS67+ (PCGS): In 2019, a specimen in MS67+ condition was realized for 1,140 dollars at a Heritage auction.
Record for MS67 (NGC): The average realization price at public trades over the last 3 years ranges between 350–420 dollars.
The presence of original mint luster without traces of oxidation remains a critical condition for achieving these price thresholds.
Factors Excluding Numismatic Value
Most 1978 quarters found in circulation possess defects nullifying their collective significance.
Mechanical Damage (Bag Marks): Multiple scratches received during coin transportation in bags.
Oxidation: Appearance of dark spots or corrosion on the copper-nickel surface.
Cleaning: Use of abrasives to artificially enhance luster detectable by experts under 10x magnification.
Coins possessing these signs are valued at face value regardless of the absence of a mint mark.
Population Report Statistics
Analyzing registries of grading companies allows for the assessment of high-grade rarity.
PCGS data for the 1978 Philadelphia quarter:
MS65: Over 2,500 units.
MS66: Approximately 800 units.
MS67: Fewer than 60 units.
MS67+: 4 units.
The low number of MS67+ specimens confirms technological difficulties during 1978 production hindering the creation of perfect surfaces.
Bank Roll Value Dynamics
Investing in unsearched 1978 Bank Wrapped Rolls is considered a method for obtaining high-grade coins.
Roll price (40 coins) in 2015: $18.00.
Roll price in 2025: $45.00 - $65.00.
The average value growth for unopened packaging remains approximately 10% per year.
However, the probability of finding an MS67 coin in a single roll is less than 0.2% based on mass opening data from recent years.
Verification of "No Mint Mark" Errors
In some cases, the absence of a mint mark is incorrectly interpreted as a rare "Filled Die" error.
For the 1978 Philadelphia issue, this is the norm rather than an error.
A true "No Mint Mark" error is only considered for releases such as the 1983-P Dime or 1990-S Proof Penny where the mark was mandatory.
For the 1978 quarter, a coin checker app identification remains limited to verifying the coin's authenticity and evaluating its condition through expert means.
Investment Risks and Liquidity
Liquidity for 1978 quarters is distributed unevenly.
Low grades (up to MS65): Limited liquidity with realization possible only within bulk lots.
High grades (MS67+): High liquidity at specialized auctions providing quick cash exits.
Mint errors: Stable demand from specialized variety collectors.
Annual price fluctuations for top specimens (MS67) over the last 10 years have not exceeded 15% in either direction indicating asset stability.
Professional Evaluation Methodology
When performing a self-check of a 1978 quarter, an algorithm excluding subjective errors must be utilized.
Scales: 0.01 g precision for composition confirmation.
Coin Value App: Checking for micro-scratches typical of circulated coins.
Lighting: Using daylight lamps to reveal hidden spots on the coin field.
Submitting a coin for grading is only justified in the absence of visible damage and the presence of strong mint luster.
Comparison with Other Release Years
The 1978 quarter is often compared to the 1977 and 1979 issues.
1977-P: MS67 is valued at $150.
1978-P: MS67 is valued at $350.
1979-P: MS67 is valued at $120.
The higher price for 1978 in an identical grade results from poor die preservation during that period causing blurred design details.
Final Financial Forecast for 2025–2026
Current trends are expected to persist over the next two years.
Projected changes:
Price growth for MS67+: +5–7%.
Price decline for MS65–MS66: -2% (due to the inflow of new certified coins).
Stability for confirmed planchet errors: +3%.
The 1978 quarter with no mint mark remains an object with a high concentration of value within the narrow segment of coins in ideal preservation.
For the majority of owners, these coins represent standard payment instruments possessing no added value.
Numismatic premiums are achievable only through strict adherence to physical standards and obtaining top scores from grading agencies.
