The low survival rate of the 1926-S is somewhat of a mystery. In this year 1,716,000 quarters were struck at the Denver Mint and nearly 2/3rds more, 2,700,000 coins, were struck in San Francisco. However, the 1926-D was saved in quantity but the 1926-S saw heavy circulation and few remain for today's collectors. A notorious strike rarity in a series replete with very challenging issues, the 1926-S is hardly ever offered with even above-average definition. Gems with flat head are rare enough, but when the desire is for a full head example, even in MS-63 or MS-64, it is virtually impossible to find one.

The example to the left was sold by Stack's Bowers Galleries in the March 2021 Showcase Auction, where it realized $43,200.