Trade Dollar 1873—1885

The Trade Dollar was a silver coin that was minted and used primarily in trade with Asia, particularly China, during the late 19th and early 20th centuries. Here's a brief history of the Trade Dollar:

The Trade Dollar was first issued in 1873 by the United States Mint as a response to the growing trade between the United States and Asia, especially China. The intention was to create a silver coin that could compete with the Spanish 8 reales coins that were widely accepted in the region.

The Trade Dollar was minted with a weight of 27.22 grams (0.8594 troy ounces) and a diameter of 38.1 millimeters. The coin featured Lady Liberty on the obverse and a bald eagle on the reverse, similar to other U.S. silver coins of the time.

Initially, the Trade Dollar was intended for use in both domestic and foreign commerce, and it was legal tender in the United States. However, it gained more popularity in international trade, especially in Asia, where it circulated alongside other silver coins.

The Trade Dollar became particularly popular in China, where it was widely accepted in commercial transactions. It was valued higher than other silver coins due to its higher silver content and superior quality. The Chinese merchants and traders trusted the Trade Dollar, and it became the preferred currency for conducting business in the region.

In 1876, the U.S. government revoked the legal tender status of the Trade Dollar within the United States. This decision was made because many Trade Dollars were being exported to Asia, causing a shortage of silver coins in circulation domestically.

The Trade Dollar was minted in Philadelphia, San Francisco, and Carson City. Over the years, various mint marks were used to denote the different mints. The coin was issued annually from 1873 to 1885, with the exception of 1884 when no coins were produced for circulation. However, a small number of Trade Dollars were minted in 1884 but as proof coins for collectors.

The popularity of the Trade Dollar declined in the 1880s due to various factors, including changes in U.S. trade policies and the devaluation of silver. In 1887, the Coinage Act was passed, demonetizing the Trade Dollar. It was no longer legal tender, and its production ceased.

Despite its relatively short lifespan, the Trade Dollar remains a popular collectible coin among numismatists and coin collectors. Its historical significance, association with international trade, and limited availability contribute to its appeal.

It's worth noting that there have been later attempts to revive the Trade Dollar concept, but they were not widely adopted or had limited circulation. The original Trade Dollar remains an important part of numismatic history, symbolizing the economic and cultural connections between the United States and Asia during the late 19th century.

Key Dates

1873: The Trade Dollar was first minted in this year, marking its introduction into circulation.

1875-CC: The 1875-CC Trade Dollar is considered one of the key date issues of the series. It was minted in Carson City (CC) and has a relatively low mintage, making it highly sought after by collectors.

1878: The 1878 Trade Dollar is noteworthy because it marked a transition in the design of the coin. In this year, the reverse design was modified to include the Morgan dollar-style eagle with spread wings, replacing the earlier design with an eagle clutching arrows and an olive branch.

1884: The 1884 Trade Dollar is a notable year for collectors. Although no Trade Dollars were minted for circulation in 1884, a small number of proof coins were produced exclusively for collectors. These proof issues are rare and highly valued.

1885: The 1885 Trade Dollar is another important year for collectors. It marked the final year of regular-issue circulation strikes for the Trade Dollar series. The mintage of the 1885 Trade Dollar is relatively low compared to earlier years, making it a desirable coin.