Congress required the U.S. Mint to strike 45 million 40% silver coins for the United States Bicentennial.
The authorization covered silver-clad versions of the three temporary Bicentennial designs: the quarter, half dollar, and dollar. The 45 million total represented 15 million sets containing one coin of each denomination.
The coins were made for collectors, while ordinary circulation pieces used copper-nickel clad construction. All three denominations displayed the double date 1776–1976 and were struck in 1975 and 1976, although no coins dated 1975 were issued in the regular Bicentennial design series.
The silver pieces were produced at the San Francisco Assay Office. The Mint ultimately sold millions of collector sets, but substantial quantities remained available for years, so the coins were not especially scarce compared with many earlier commemoratives.