The 1885 trade dollars have value as numismatic coins. Keep reading to learn more about these coins.
Specifications
Type: Trade Dollar
Year: 1885
Face Value: $1.00
Composition: 90% silver, 10% copper
Silver Weight: .7874 oz
Total Weight: 27.22 grams
Current Silver Bullion Value: $23.26
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 1885 trade dollar with no mint mark as a proof coin. No other trade dollar series were minted for this year.
This coin is one of the rarest American coins in existence. Only five of these coins were minted and each specimen is extremely valuable.
| Series | Location | Quantity Minted |
|---|---|---|
| 1885 Proof | Philadelphia | 5 |
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 $23.26. This melt value is calculated from the current silver spot price of $29.54 per ounce.
The 1885 trade dollar is worth around $1,500,000 in PR 63 condition.
Grading System
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: