The Type 4 variety of the 1976-S Proof Bicentennial Quarter features a distinct reverse design, known as the "No S" variety, where the coin lacks the mint mark ("S") indicating its San Francisco origin. This error is extremely rare and highly sought after by collectors.
The absence of the mint mark on the Type 4 Bicentennial Quarter is a striking mint error, as all proof coins from the San Francisco Mint should bear the "S" mint mark. Mint errors like this are exceedingly rare and significantly increase the coin's value.
The Type 4 variety is exceptionally rare, with only a handful of known examples in existence. Its scarcity contributes significantly to its high value in the numismatic market.
Collectors actively seek out rare and unusual varieties within coin series, making the Type 4 Bicentennial Quarter a prized addition to numismatic collections.
The value of proof coins is closely tied to their condition. Uncirculated or near-perfect examples with minimal imperfections, scratches, or discoloration command higher prices from collectors.
As part of the Bicentennial coinage program commemorating the 200th anniversary of the United States, the 1976-S Proof Bicentennial Quarter holds historical significance. Collectors interested in American history and numismatics value coins from this series for their commemorative significance.
The extreme rarity of the Type 4 Bicentennial Quarter has generated significant interest among collectors, driving up its value in the numismatic market. High demand for this error variety contributes to its six-figure price tag.
The reported value of $1,200,000+ likely reflects the price achieved by a specific example of the 1976-S Proof Bicentennial Quarter (Type 4) at auction. Auction prices can vary based on factors such as rarity, condition, provenance, and bidder interest, but they provide a benchmark for the coin's extraordinary value in the collector's market.