1/4 Dollar 'Washington Quarter'

The clad composition dates directly to the Coinage Act of 1965, which stripped silver from dimes and quarters after rising silver prices made the metal's bullion value approach face value. Congress passed the act over significant protest — some lawmakers argued the change amounted to debasing the currency — and the Treasury initially banned the export of the new coins to prevent arbitrage comparisons with the old silver pieces.

Philadelphia and Denver struck these without mint marks from 1965 through 1967, a deliberate policy intended to discourage hoarding by collector date-sets. The San Francisco mark returned in 1968, but only on proof issues.