Ron Guth:
The mintage of the Proof 1876 Twenty-Cent piece dropped to less than half that of the previous year, reflecting reduced demand for the coin in its second year. In spite of the reduced mintage, many of the coins were set aside by collectors, resulting in a strong Condition Census today, where PR-66 examples dominate. Non-Cameo Proofs appear to be the norm for this date, though there are undoubtedly some Cameos and Deep Cameos that need reclassification, since PCGS did not recognize CAMs and DCAMs until later in its existence. Nonetheless, Cameo examples are scarce and Deep Cameos are downright rare. The technically finest 1876 Twenty-Cent piece certified by PCGS is a single PR67CAM.