As a coin collector, you‘ve probably come across the 1776-1976 Bicentennial quarter in your travels. But do you know the history behind this unique coin and what makes some examples quite valuable? In this comprehensive guide, we‘ll cover everything you need to know to assess the value of a Bicentennial quarter, including key varieties, errors, and auction records for this fascinating modern commemorative coin.
History of the 1776-1976 Bicentennial Quarter
In the early 1970s, Congress authorized special designs for the quarter, half dollar, and dollar to honor the 200th anniversary of American independence in 1976. The U.S. Mint conducted a nationwide design competition, with the winning obverse design for the quarter featuring a colonial drummer boy along with 13 stars by Jack L. Ahr.
This "Drummer Boy" design temporarily replaced the standard heraldic eagle reverse of the Washington quarter in 1975-1976. Coins were dual-dated 1776-1976 to mark the Bicentennial. Regular copper-nickel clad coins were produced for circulation at the Philadelphia and Denver Mints, while silver-clad uncirculated and proof coins were struck at the San Francisco Mint.
Over 1.6 billion Bicentennial quarters were struck across all three mints. As the most widely produced of the three Bicentennial coins, they are very common in circulation even today. However, certain examples in top condition, with errors, or struck in silver are highly coveted by collectors.
Mintages and Varieties
Here‘s a breakdown of the mintages for each variety of 1776-1976 Bicentennial quarter:
- 1776-1976 (P) Clad Uncirculated: 809,784,016
- 1776-1976-D Clad Uncirculated: 860,118,839
- 1976-S Silver Clad Proof: 4,000,000
- 1976-S Silver Clad Uncirculated: 11,000,000
- 1976-S Clad Proof: 7,059,099
The Philadelphia and Denver issues without mint marks had extremely high mintages and are very common. The clad proof coin from San Francisco is also fairly available. However, the two silver-clad issues are scarcer, especially in high grades, adding to their desirability.
With a total of just 15 million silver coins struck, they are semi-key dates compared to the clad issues. The 1976-S silver proof, at 4 million minted, is the rarest regular issue. All silver coins were struck at the San Francisco Mint and bear the "S" mint mark.
Coin Specifications
The Bicentennial quarter kept the same basic specifications as the regular Washington quarter in terms of size and weight:
- Composition: 91.67% copper, 8.33% nickel (clad); 40% silver, balance copper (silver-clad)
- Weight: 5.67 grams
- Diameter: 24.3 mm
- Thickness: 1.75 mm
- Edge: Reeded
The only differences are the commemorative Drummer Boy reverse design by Jack L. Ahr replacing the heraldic eagle motif by John Flanagan and the dual 1776-1976 bicentennial dates on the obverse. Otherwise, it features the same obverse portrait of George Washington that has been used since 1932.
Design and Symbolism
The obverse features the left-facing profile portrait of George Washington that was designed by John Flanagan for the quarter‘s debut in 1932, the 200th anniversary of Washington‘s birth. It includes the motto IN GOD WE TRUST, LIBERTY, and the dual dates 1776-1976.
For the Bicentennial reverse, contest winner Jack L. Ahr created a design featuring a colonial drummer along with a torch surrounded by 13 stars representing the original 13 states. The motto E PLURIBUS UNUM also appears.
The drummer boy design was selected as it represents the Spirit of ‘76 – the patriotic sentiment that rallied the colonists to fight for independence in the American Revolution. The 13 stars and torch also symbolize the freedoms won during this struggle that shine brightly 200 years later.
Grading and Condition
As with all coins, condition plays a major role in determining the 1776-1976 quarter value. Examples in circulated condition will only be worth their face value of 25 cents. Uncirculated coins grading MS-60 to MS-63 are worth $1 to $2. Gem uncirculated pieces grading MS-65 or better are where values really start to take off.
According to the PCGS Price Guide, a regular 1776-1976 (P) or 1776-1976-D clad quarter grading MS-65 is worth around $20. In MS-67, these coins escalate to $200. The record auction price for a clad quarter is $8,400 for a 1776-1976-D graded MS-68 by PCGS in 2023.
For the silver-clad uncirculated quarters, a coin grading MS-65 typically sells for around $10. In MS-68, that value jumps to over $225. The finest known 1776-1976-S silver quarters have sold for $19,200 in MS-69 at auction.
Clad proof quarters from San Francisco are generally worth $3 to $7 in PR-65 condition. A record price of $6,038 was set in 2010 for a coin graded PR-70 DCAM by PCGS. Silver proofs are valued higher at $50 for PR-65. The auction record for a silver proof is $13,500 for a PCGS PR-70 DCAM.
Errors and Varieties
The large number of Bicentennial quarters produced means many examples with errors and varieties exist, some dramatically increasing coin value. Here‘s a rundown of the most common and valuable errors to look for:
Doubling: Look for coins showing signs of doubling on the lettering, dates, or drummer boy‘s features. A strong doubled die obverse error can bring $500 to $3,000+ if dramatic and in high grade.
Off-Center Strikes: Coins struck off-center, leaving a blank crescent, are rare and valuable. A 1776-1976-D quarter with an off-center strike sold for $1,500.
Struck Thru Errors: Coins struck through grease, cloth, or other material can leave odd textures and missing design elements. A quarter struck through cloth error realized $881 in MS-66 condition.
Missing Letters/Numbers: Coins missing letters in the mottos or part/all of the date due to die fill errors are very scarce and popular. Recently, a 1776-1976-D quarter missing the "IGWT" in "IN GOD WE TRUST" took $2,200 at auction.
Melt Values and Silver Issues
With silver prices fluctuating around $25 per ounce in 2023, the silver bicentennial quarters have a bullion value of over $4 each based on their silver content alone. Many of the uncirculated and proof silver quarters have been melted over the years due to this intrinsic value.
To calculate the silver melt value, take the current price of silver per ounce and multiply it by 0.1808 oz, the amount of pure silver in each silver-clad quarter. The silver coins contain an outer layer of 80% silver and 20% copper bonded to an inner core of 20.9% silver and 79.1% copper, for 40% silver overall.
So with $25/oz silver spot price:
$25 x 0.1808 oz = $4.52 melt value
The rarest of the silver quarters are top condition examples of the 1976-S uncirculated issue. With a mintage of 11 million, it is scarcer than the proof issue but was not as carefully handled or preserved. Gem uncirculated coins grading MS-67 to MS-69 routinely sell for over $10,000.
Collecting Bicentennial Quarters
The Bicentennial quarter remains a popular modern commemorative issue with collectors 45+ years later. Many appreciate the patriotic symbolism and the connection to the 200th anniversary of the founding of the United States in 1776.
Collecting all five varieties from the Philadelphia, Denver, and San Francisco Mints makes for a fun short set. Trying to find the highest grade examples, especially of the silver coins, is a challenge many set-builders undertake. Error coin collectors also prize the unusual and dramatic mistakes to be found.
Since Bicentennial quarters were released into circulation, it‘s still possible to find nice examples in pocket change or bank rolls. However, to guarantee getting uncirculated or proof coins, you‘ll need to buy them from a coin dealer. Searching through rolls can yield gems though and many collectors enjoy the thrill of the hunt.
Building a registry set of high-grade Bicentennial quarters is another popular goal. Both PCGS and NGC offer registry sets for clad and silver coins. Collectors compete to assemble the finest professional graded coins. Rarity and high prices for the silver issues in superb gem grades make them especially challenging.
Conclusions
Whether you‘re a die-hard collector of modern U.S. coins or just have fond memories of the Bicentennial, these quarters are sure to be of interest. By knowing how to judge condition, spot errors, and assess silver issues, you‘ll be well on your way to building a valuable set.
Remember, the most desirable Bicentennial quarters are high grade MS/PR-67 or better examples, coins with dramatic errors, and the silver issues – especially the uncirculated 1976-S. Gem registry-quality silver coins are the pinnacle and command impressive prices.
But any Bicentennial quarter collection is a great way to honor America‘s 200th birthday and the numismatic legacy it left behind. These quarters make great gifts for children or family members to spark an interest in coin collecting as well.
So the next time you find a Drummer Boy quarter in your change, take a close look – you might just have a valuable piece of history in your hands!
