While some Bicentennial quarters can indeed hold value, such as certain uncirculated or proof specimens, it's important to approach claims of extremely high values with caution.
The $20,000 figure you mentioned likely refers to a highly rare and exceptional specimen, such as an error coin or a unique variety, rather than a typical Bicentennial quarter.
Minting errors: Coins with errors such as double strikes, off-center strikes, or missing mint marks can be highly sought after by collectors and may command significant premiums.
Proof sets: Proof sets containing Bicentennial quarters, especially those in pristine condition with original packaging, can have higher values due to their limited mintage and collector appeal.
Special finishes: Some Bicentennial quarters were minted with special finishes, such as silver-clad or proof finishes, which can increase their value compared to regular circulation strikes.
High-grade examples: Bicentennial quarters in uncirculated or near-perfect condition, graded by reputable third-party grading services, may have higher values due to their scarcity in such condition.