twenty-cent piece

twenty-cent piece was a silver coin struck by the United States Mint for circulation from 1875 to 1878. Authorized by the Coinage Act of 1873, it was intended to facilitate transactions in the Western United States but was quickly rendered redundant by the quarter dollar. Its short lifespan and similarity in size to the quarter led to public confusion, making it one of the most notable failures in American numismatic history.

History

The push for a twenty-cent piece originated primarily from Nevada's senatorial delegation, particularly John P. Jones and William M. Stewart, who argued it was needed for commerce in the American West. Proponents cited the utility of the Spanish two-real piece, a common coin in regions like California following the California Gold Rush. The Coinage Act of 1873, which demonetized silver and is referred to by critics as the "Crime of 1873," paradoxically authorized the new denomination. However, the Resumption Act of 1875 and the subsequent revival of silver dollar production under the Bland–Allison Act overshadowed its purpose. By 1876, the Treasury Department and Mint Director Henry Linderman recognized its failure, and Congress halted its production for circulation in 1878.

Design

The coin's design was adapted by Chief Engraver William Barber from the longstanding Seated Liberty motif created by Christian Gobrecht. The obverse features Liberty seated on a rock, holding a Liberty pole topped with a Phrygian cap, nearly identical to contemporary dimes, half dimes, and half dollars. The reverse depicts a left-facing eagle with an olive branch and arrows, closely mirroring the design on the quarter but without the heraldic stars or motto In God We Trust. This visual similarity, coupled with an identical diameter to the quarter, was a critical flaw. The coin's edge was plain, distinguishing it from the reeded edge of other silver coins, and it bore the inscriptions "United States of America" and its value expressed as "TWENTY CENTS."

Production and rarity

Production occurred at three mints: the Philadelphia Mint (no mint mark), the Carson City Mint (CC), and the San Francisco Mint (S). The majority of the 1,355,000 business strikes were minted in 1875, with the Carson City Mint producing a modest quantity that is highly sought today. The 1875-CC issue is a notable key date in the series. In 1876, only proof coins and a small number from Philadelphia were struck for collectors. The final proof-only issues were minted in 1877 and 1878. Nearly all of the circulation strikes were melted due to public rejection, making any business-strike example, particularly from the Carson City Mint or San Francisco Mint, relatively scarce. The 1876 proof, with a mintage of just 1,150, is considered the series' rarest issue.

Collecting

The twenty-cent piece is a popular specialty for numismatists, especially those collecting by mint mark or completing sets of Seated Liberty coinage. The series is compact enough to attempt a complete set, though the 1876 proof presents a significant challenge. Counterfeits and altered coins, such as added CC mint marks, are known, making authentication by services like the PCGS or NGC advisable. Well-preserved specimens, especially in proof condition or from the Carson City Mint, command substantial premiums at auctions held by firms like Stack's Bowers and Heritage Auctions. The coin is frequently exhibited at events hosted by the American Numismatic Association and is a staple in references like the "Red Book."

Category:Coins of the United States Category:Obsolete United States coinage Category:1875 introductions Category:1878 disestablishments