Estimated grade. Sold in Stack's Auction of Garrett / Hopkins University, Mar. 1976
Ron Guth: In 1875, the first year of the oddly-denominated Twenty Cent piece, the Mint struck coins for circulation and Proofs for sale to collectors. The reported mintage for the Proof 1875 Twenty-Cent piece is 2,790 pieces, which was more than three times that of the other silver Proofs of the year. This indicates that the Twenty-Cent pieces may have been available for sale on an individual basis. The number of survivors confirms the higher mintage figure (for instance, the PCGS Population Report show more than twice as many Proof 1875 Twenty-Cent pieces as Proof 1875 Quarter Dollars).
As far as survivors go, the 1875 is the second least common of all the Proof dates in the series (the least common is the 1877, followed by the 1876, then 1875, then 1878). The PCGS CoinFacts Condition Census consists almost entirely of PR66 examples, though a lone PCGS PR67 stands out as the finest known example. Cameo versions represent approximately one-fourth of the total population, though the percentage may increase as more coins are regraded over time (PCGS did not designate Cameos or Deep Cameos until years after they began grading). However, Deep Cameo examples are confirmed rarities.
Bowers & Merena 8/1999:127, $19,550 - Eugene H. Gardner Collection - Heritage 6/2014:30343, $28,200