Authorization for a new Twenty Cent piece was provided by the Coinage Act of March 3, 1875 and was the last coin to receive Christian Gobrecht's classic Seated Liberty Design.
Primarily born out of the interests of silver mine owners and not economical need, the twenty cent coin had a lot against it. Initially mintages for the first year of 1875 were 1,325,200 for all mints combined but low demand and the fact that it was easily confused with existing quarters (it was only 10% smaller) forced the mint to reduce mintages to 24,640 in 1876. Demand was so low that circulating coinage was ceased in 1876 and only proofs were minted for the years 1877 & 1878.
This short run gives the twenty cent series the honor of being both the shortest and lowest mintage coin series of any U.S. coin.
General Market Notes
With a total circulation strike of 1,349,840 prices are not cheap. Of the coins available, the least expensive is the 1875-S while the most expensive are the Carson City issues.