Proof quarter eagle production amounted to just 170 coins in 1904. Although this total represents a modest reduction from those posted the preceding four years, the 1904 is not the lowest mintage 20th century Proof of the Liberty Head design type. On the other hand, this issue is the rarest from that era, surpassing even the lower mintage 1905, 1906 and 1907.

The example to the left was sold by Stack's Bowers Galleries in the August 2021 Showcase Auction, where it sold for $37,200.