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Trade Dollars

Trade dollars were minted from 1873-1885 and these coins have numismatic value. Keep to reading to learn more about these silver coins.

1873 Trade Dollar

Trade Dollar Reverse

Specifications

Type: Trade Dollar
Year: 1873-1885
Face Value: $1.00
Composition: 90% silver, 10% copper
Silver Weight: .7874 oz
Total Weight: 27.22 grams
Current Silver Bullion Value: $24.60

History

The trade dollar was made for circulation in Asia. It was made in order to compete with other dollar coins from different countries. Many of the coins that circulated throughout Asia have Oriental markings on them, referred to as chop marks. Trade dollars were legal tender in the United States.

In the year 1887, the United States repealed the law authorizing trade dollars. The Treasury then redeemed dollars that were unmutilated.

Series

Different series are available. Trade dollars were minted out of three different locations- Philadelphia, Carson City, and San Francisco. The dollars with no mint mark were minted out of Philadelphia. Dollars with the CC mint mark were minted out of Carson City. Lastly dollars with the S mint mark were minted out of San Francisco. The mint mark, when present, can be found on the reverse side of the coin above the letter D in the word "DOLLAR".

Proof coins with no mint mark were minted during select years and these coins will sell for more money.

Design

William Barber designed these coins. The obverse side of the coin features a seated Lady Liberty extending an olive branch with her hand. The reverse side of the coin features an American bald eagle.

The design was slightly modified over the years. There is the obverse type 1 and obverse type 2 as well as the reverse type 1 and reverse type 2.

Value

Any trade dollar is worth at least its weight in silver. The silver melt value for each coin is $24.60. This scrap value is calculated from the current silver spot price of $31.24 per ounce.

Trade dollars in the better condition grades will sell for more money. Uncirculated coins and proof coins will sell for higher prices. In addition, several notable error varieties exist and these error coins can be quite valuable.

Ultimately, the value of a trade dollar will depend on its series and its condition. See the list below to learn the value for some of the trade dollars that are featured on our website.

 

Sources:

The Red Book