Late-production M4 in black chrome — scarcer than chrome, priced below black paint.
The Leica M4 in black chrome is the late-production finish variant of the M4, built mainly in the 1974-75 final batches after the black paint era ended.
Mechanically identical to the chrome M4 - the 1967 body that added the angled rapid-load system and crank rewind to the M3/M2 formula - it differs only in the harder-wearing black chrome plating that replaced black paint.
Its significance is scarcity: black chrome M4s come from the small final production runs, so they trade well above chrome bodies and just below the collector-grade black paint examples, and the used market prices the three finishes as distinct products.
Used buying: verify the finish is factory black chrome and not a repaint of a chrome body (serial lookup), check the rapid-load tulip for wear, and expect Canadian (Midland) assembly on many late bodies - it does not lower the price.