1 Dollar USA (1776 - ) Copper/Silver

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Catalog reference:

1878-S, United States. Large Silver Trade Dollar Coin. Struck for trade w. Asia!

Mint Date: 1878
Reference: KM-108.
Denomination: Trade Dollar
Mint Place: San Francisco (S)
Condition: Minor marks in fields, toherwise a nice XF!
Weight: 27.18gm
Diameter: 38mm
Material: Silver

Obverse: Togate liberty, seated on a throne of trade goods and a bundle fo corn, holding inscribed band and olive branch. 13 stars around.
Legend: IN GOD WE TRUST (at base of throne) 1878 **** ** *******

American eagle below band with motto, holding three arrows and olive-brach. Weight and silve content below.
Comment: Mint initial (S) in field below eagle.

The Trade Dollar was a silver dollar coin issued by the United States solely for trade in the Orient with China, Korea, and Japan. It is 420 grains in weight, composed of 90% silver and 10% copper, as opposed to the 412 grains of a standard US silver dollar of the time period.

The Trade Dollar was produced in response to other Western powers, such as Great Britain, Spain, France, and particularly Mexico, circulating large, crown size silver coins in Asia. Trade Dollars had a slightly higher silver content than the regular circulation Seated Liberty Dollars and Morgan Dollars, to compete with these foreign trade coins. Most Trade Dollars ended up in Asia during their first two years of production, where they were very successful. Many of them exhibit chopmarks which are counterstamps from Asian merchants to verify the authenticity of the coins. Many trade coins of the Western powers and large silver coins from China, Korea, and Japan also bear these chopmarks. While most chopmarked coins are generally worth less than those without, some of the more fascinating chopmarks can actually give the coin a modest premium.

Trade Dollars were created by a legal act, the Coinage Act of 1873, where silver was de-monetized in the United States (although full de-monetization did not occur until 1900.) Thus, Trade Dollars did not circulate in the United States initially, but were legal tender for up to $5. Things changed, however, in 1876, when the price of silver spiraled downward as Western producers dumped silver on the market, making the Trade Dollar worth more at face value than its silver content. That resulted in Trade Dollars pouring back into the United States, as they were bought for as little as the equivalent of 80 US cents in Asia, and were then spent at $1 in the United States. This prompted Congress to revoke their legal tender status, and restrict their coinage to exportation demand only. However, this didn’t stop unscrupulous persons from buying Trade Dollars at bullion value, and using them for payment as $1 to unsuspecting workers and merchants.

Production of the Trade Dollar was officially halted for business strikes in 1878, and thereafter from 1879-1885, produced only as proof examples of the coin. The issues of 1884 and 1885 were produced surreptitiously, and were unknown to the collecting public until 1908.

In February 1887, all non-mutilated outstanding Trade Dollars were made redeemable to the United States Treasury, and approximately 8 million of them were turned in.

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Posted by: anonymous  2015-03-06
1883 Trade Dollar. NGC graded Proof 64. 979 pieces struck for this Proof only year. Nice blue and gold toning. Deeply mirrored in the fields, this is an exceptional Proof Trade Dollar. Each side shows a natural overlay of sleek toning that is balanced in hue and saturation on both obverse and ...

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Posted by: anonymous  2015-03-06
1883 Trade Dollar. NGC graded Proof 66 Cameo. A glittering untoned Gem Proof with deep cameo contrast. Only 979 Proofs issued for this proof-only date. The very definition of a cameo Proof Trade Dollar, being satiny through the centers and on all stars and legends against silvery deep-mirrored ...

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Posted by: anonymous  2015-03-06
1882 Trade Dollar. PCGS graded Proof 64 Deep Cameo. Trade. Fully white and well struck. A small flaw on the obverse under the branch. A satiny silver bright specimen with faint zephyr-like wisps of frosted iridescence on both main devices set against the deeper mirror pools that surround. Very ...

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Posted by: anonymous  2015-03-06
1882 Trade Dollar. NGC graded Proof 65. Nice blue and golden toning. Only 1,097 struck for this Proof only year. A beautiful toned specimen. Among Proof Trade Dollars, those dated 1878 to 1883 are most sought after as Proof-only dates. These also tend to survive in the highest numerical grade ...

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Posted by: anonymous  2015-03-06
1881 Trade Dollar. PCGS graded Proof 64. Housed in an Old Green Holder. Only 960 Proofs struck for this proof only year. A hint of light golden tone the fields reflective but with a pale hazy overlay. The main elements were struck with such force and energy by the dies that all design elements ...

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Posted by: anonymous  2015-03-06
1877-S Trade Dollar. NGC graded MS-61. Some gold toning around the edges of both sides, well struck and appealing. The U.S. Trade dollar had a short if controversial run between 1873 and 1883. Attractive design. Estimated Value $750 - 800. Categories:
scroodge  /  Silver Dollar  Silver Dollars 1794-1935The silver dollar was authorized by Congress April 2, 1792. Weight and fineness were specified at 416 grains and 892.4 fine. The first issues appeared in 1794 and until 1804 all silver dollars had the value stamped on the edge: HUNDRED CENTS, ONE DOLLAR OR UNIT. After a lapse in coinage of the plain or reeded edges and ...

Collections: Add to Quick List Sold for: $3000.0
Info: http://www.goldbergcoins.com/view-auctions/catalog/id/4/lot/14728 ...
1923-S Liberty Standing Quarter Dollar. PCGS graded MS-64 PQ. Well struck with the head nearly full. Close examination suggests this is a full head. Lightly toned around the edges. A nice origin ...

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Info: http://www.goldbergcoins.com/view-auctions/catalog/id/37/lot/7949 ...
1908-S. NGC graded MS-66 Red. Nice strike with relatively fresh color. Frosty Gem. Tied for finest at NGC. Satiny matte surfaces explode with intense luster and varying shades of coppery and gol ...

Collections: Add to Quick List Sold for: $10550.0
Info: http://www.goldbergcoins.com/view-auctions/catalog/id/33/lot/6602 ...
1919-D. PCGS graded MS-63. CAC Approved. Weak strike as usually seen for the date. But overall a beautiful lustrous untoned example for this rare date. The end of the First World War, celebrated ...
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