The 1883 trade dollars have value as numismatic coins. Keep reading to learn more about these coins.
Specifications
Type: Trade Dollar
Year: 1883
Face Value: $1.00
Composition: 90% silver, 10% copper
Silver Weight: .7874 oz
Total Weight: 27.22 grams
Current Silver Bullion Value: $23.27
The trade dollar was made for circulation in Asia. It was made in order to compete with other dollar coins from different countries.
The US minted the 1883 trade dollar with no mint mark as a proof coin. No other trade dollar series were minted for this year.
| Series | Location | Quantity Minted |
|---|---|---|
| 1883 Proof | Philadelphia | 979 |
Value
This coin is worth a lot more than its weight in silver. But just for reference, the silver melt value for this coin is $23.27. This melt value is calculated from the current silver spot price of $29.55 per ounce.
The 1883 trade dollar is worth around $1,350 in extremely fine condition. In PR 63 condition the value is around $3,500.
Grading System
Extremely fine- Both Liberty and the mottos look sharp. There is a small amount of wear on the rims.
PR 63 proof- This coin has reflective surfaces and only a few blemishes away from the major focal points. There are no major flaws.
Sources:
The Red Book
See also: