1918/7-S Standing Liberty Quarter Overdate Value & Price Guide

At the San Francisco Mint in 1918, someone made a decision that created one of the most famous error coins in American numismatics. A 1917 die was repunched with a 1918 date, but the original 7 wasn't fully obliterated. The result is a coin where both dates are visible: 1918 over 1917. It's called an overdate, and the 1918/7-S Standing Liberty Quarter is one of the most important and valuable varieties of the entire twentieth century.

A MS67 Full Head example sold at Heritage Auctions in August 2024 for $108,000.

Quick Value Summary

Item: 1918/7-S Standing Liberty Quarter (Overdate, FS-101) Year: 1918 (overpunched on a 1917 die) Mint: San Francisco (S mint mark) Category: Coins

Condition Range:

• Good (G-4 to G-6): $1,500 - $3,000

• Very Good (VG-8 to VG-10): $2,500 - $5,000

• Fine (F-12 to F-15): $4,000 - $7,000

• Very Fine (VF-20 to VF-35): $6,000 - $12,000

• Extremely Fine (EF-40 to EF-45): $10,000 - $18,000

• About Uncirculated (AU-50 to AU-58): $15,000 - $30,000

• Mint State (MS-63 Full Head): $18,000 - $25,000

• Mint State (MS-65+ Full Head): $40,000 - $108,000+

Record Sale: $195,500 (PCGS MS67+FH, 2010 auction) Rarity: Rare (perhaps a few hundred to a thousand survive across all grades)

The Story

The Standing Liberty Quarter was designed by sculptor Hermon A. MacNeil and first issued in 1916. It's widely considered one of the most beautiful coins ever produced by the United States Mint. Liberty stands facing forward, holding a shield in her left hand and an olive branch in her right. The reverse features an eagle in flight.

The series had a famously controversial start. The original 1916 and early 1917 Type I design showed Liberty with an exposed right breast, which caused public outcry. The design was modified partway through 1917 (the Type II) to add chain mail covering Liberty's torso. Both varieties of the 1917 are collected, but it's the 1918/7-S overdate that captures the most attention.

Overdates were more common in the early twentieth century than most people realize. Dies were expensive to produce, and occasionally a leftover die from one year would be re-used by punching the new date over the old one. Usually the previous date was completely obscured. In this case, the underlying 7 remained partially visible beneath the 8, creating a doubled date effect that sharp-eyed collectors noticed.

The overdate was first publicly identified by numismatic researcher Walter Breen in the 1960s, though some collectors had noticed the anomaly earlier. Since then, the 1918/7-S has become the key date and variety of the Standing Liberty Quarter series, commanding prices many times higher than a standard 1918-S.

How to Identify It

Key identification features:

• The overdate: Look at the last digit of the date. Under magnification (a 5x to 10x loupe is helpful), you should see traces of the underlying 7 beneath the 8. The bottom curve of the 7 is visible below the 8.

• Mint mark: An "S" on the obverse, to the left of the date, above and to the left of Liberty's toes.

• Type II design: Chain mail covering Liberty's chest (this is the modified 1917 design, carried through 1930).

How to spot the overdate on worn examples: Even in lower grades, the overdate is usually visible with magnification. The key area is the bottom portion of the last digit. The curve of the 7's crossbar extends below where the 8's lower loop should end. On well-worn examples (Good to Very Good), a loupe is essential.

Common confusions:

• Standard 1918-S: Far more common and less valuable. Careful examination under magnification is needed to distinguish them. Many 1918-S quarters have been misattributed as overdates by hopeful owners.

• Die deterioration: Normal die wear can create marks near the date that resemble an overdate. The genuine 1918/7-S has a specific, consistent pattern of doubling.

• Counterfeit overdates: Fakes exist where someone has tooled or added marks to a genuine 1918-S to simulate the overdate. Professional authentication is critical.

Value by Condition

Good (G-4 to G-6): $1,500 - $3,000 Heavily worn. Liberty's outline is visible, the date is readable, and the overdate can be confirmed with magnification. The coin is identifiable as a 1918/7-S but most fine details are worn smooth.

Very Good (VG-8 to VG-10): $2,500 - $5,000 More design detail visible. The gown folds begin to show. The overdate is clearer. This is a good grade for collectors who want to own the variety without a five-figure investment.

Fine (F-12 to F-15): $4,000 - $7,000 Liberty's gown and shield show moderate detail. The overdate is clearly visible. Stars and lettering are sharp.

Very Fine (VF-20 to VF-35): $6,000 - $12,000 Good overall detail with wear on the highest points (Liberty's knee, the shield). The head of Liberty begins to show hair detail but is not fully struck up.

Extremely Fine (EF-40 to EF-45): $10,000 - $18,000 Light wear only on the highest points. Most design details are sharp. This grade represents an excellent balance of quality and cost.

About Uncirculated (AU-50 to AU-58): $15,000 - $30,000 Traces of wear on the highest points only. Much original luster visible. Full Head designation at this grade adds a significant premium.

Mint State (MS-63 to MS-65, Full Head): $18,000 - $60,000+ No wear visible. The "Full Head" (FH) designation means Liberty's head shows full hair detail, including three leaves in the headband. Not all Mint State examples qualify for FH due to strike weakness. An MS63FH commands approximately $20,000. An MS67FH sold for $108,000 at Heritage Auctions in August 2024. The all-time record is $195,500 for a PCGS MS67+FH in 2010.

Known Varieties

The 1918/7-S overdate is itself a variety (PCGS FS-101 / Breen-4230). There is only one die pair for this overdate, so there are no sub-varieties. However, the strength of the overdate's visibility varies from coin to coin, likely due to die state (the die gradually wore down through its use).

Authentication & Fakes

This coin is frequently counterfeited. The price premium over a standard 1918-S is enormous, creating strong incentive for fraud.

Common fakes:

• Tooled coins: A genuine 1918-S with material added or removed near the date to simulate the overdate. Under magnification, tooling marks show unnatural metal flow.

• Altered dates: Material added to a genuine coin to create the appearance of the underlying 7.

• Complete counterfeits: Cast or struck fakes made from scratch. Weight, specific gravity, and surface diagnostics give these away.

PCGS or NGC authentication is absolutely essential. Do not buy an unslabbed 1918/7-S Standing Liberty Quarter at this price level. Period. The grading fee ($40-$150 depending on turnaround and declared value) is trivial compared to the risk.

For high-value examples (declared value over $10,000), expect grading fees of $65-$300+ depending on service tier.

Where to Sell

Best venues:

• Heritage Auctions: The largest numismatic auction house. They handle 1918/7-S quarters regularly and achieve market-leading prices.

• Stack's Bowers: Another premier numismatic auction house with strong colonial and US type coin sales.

• Great Collections: Online numismatic auction with lower fees and good exposure.

• Coin dealers: A reputable dealer may buy outright at 75-85% of wholesale value for quick liquidity.

Expected selling costs:

• PCGS/NGC grading: $40 - $300+ depending on declared value and tier

• Auction house buyer's premium: 20-22%

• Seller's commission: 5-10% (negotiable for high-value coins)

• Insured shipping: $20 - $50

Think you might have an overdate? Upload a close-up of the date to Curio Comp for a preliminary opinion.

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