1878 20C PR65 Certification #-44996, PCGS #5306

Ron Guth

The U.S. Mint ended production of Twenty-Cent pieces for circulation in 1876, but continued to manufacture Proof coins for collectors through 1878, after which the denomination was discontinued forever.  For some reason, the Proof mintage in 1878 jumped up slightly from the previous year, perhaps due to the introduction of the Morgan Dollar. 

While the PCGS Condition Census for the 1878 Twenty-Cent piece includes PR66 and PR67 coins, the typical grade range for this date is PR63 to PR64.  Cameo examples are scarce and Deep Cameo examples are rare.  The finest examples certified by PCGS include a single PCGS PR67 and a single PR67 Cameo.

Charles Morgan

1878 Twenty-Cent Piece Proof 

The Twenty-Cent Piece made its final appearance with this 1878 Proof-only issue. Six hundred coins were reportedly struck, a slight increase over the Proof-only 1877 issue (#5305).

The 1878 Twenty-Cent Proof was included in Silver Proof Sets struck between January 29 and March 18; however, Congress eliminated the denomination after May 2. Consequently, Twenty-Cent Pieces were not included in the 200 Silver Proof Sets delivered for sale on May 17.

The combined certified population of the 1878 Liberty Seated Twenty-Cent Piece Proof (#5306) across all services exceeds the reported mintage, with PCGS alone accounting for nearly the entire total. A review of certification data and auction history reveals that many active certification numbers represent coins that have long since been cracked out and regraded—a trend particularly prevalent at the high end of the market.

Typically found as brilliant or toned Proofs, only about 15% of 1878 Twenty-Cent Pieces exhibit the frosted contrast required for a Cameo designation.

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