1932 S Quarter ** Does This Coin Have Any Issues?

Really? Huh. A coin that retails out at 400.00 for an AU58, but spending 20 some bucks to send it to ANACS is an ouch. Oh, a coin that is one of the two keys in the series and is highly counterfeited.

Yeah, you are right. That would be wasted money.

A die study may be required. At 400,000 struck, perhaps 4 or 5 pairs of dies would have been used.
The characteristics of each of the mint marks needs to be examined and associated with identifying details of the rest of the coin associated with a particular mint mark.

Has there been any in depth research published of this nature?
Perhaps there may be some paper on the subject somewhere in the ANA filing system. This sort of research would also likely give some idea of the number of altered coins that may exist for the '32S quarter.

This sort of die study research is often done with ancient coins, to get some idea of the time spread of a particular type, and the volume of coins produced, based on the estimation of the number of dies likely to have been made.

For me, it's impossible to say there is or is nothing wrong with this coin from the photos posted. A good close up of the mint mark is needed at the very least in order to make a fairly accurate assessment of the coins authenticity. if you are wondering if the coin appears to be cleaned, it is difficult to make that call also, as the photos make it look more like a clad quarter.

If you have the coin in hand and cannot tell send it to ANACS.