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Sample Photo: not representative of the coin or grade of coin being sold.
Sample Photo: not representative of the coin or grade of coin being sold.
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| Years: |
1873-1885 |
| Composition: |
90% Silver, 10% Copper |
| Weight: |
27.22g |
| Diameter: |
38.1mm |
| Edge: |
Reeded |
| Designer: |
William Barber |
| Mints: |
Philadelphia, Carson City, San Francisco |
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Trade Dollars
In 1873 Liberty Seated Dollars were replaced by the heavier Trade Dollars in order to compete with the Mexican peso and bullion coins in Asian markets. Whereas the Liberty Seated Dollar with a weight of 412.5 grains was rejected by foreign merchants, the Trade dollars at 420 grains was well received, giving American merchants a competitive advantage in trade.
Chief Mint Engraver William Barber designed the Trade Dollar. The obverse features the image of Lady Liberty seated atop a bale of cotton, her right arm extended with an olive branch in her hand, her left hand holding a scroll reading 'LIBERTY'. Thirteen stars surround her, the date below her, and wheat at her back. 'IN GOD WE TRUST' appears on a small label below her, just above the date. The Pacific ocean in the background. The reverse featured an eagle holding arrows and an olive branch in it's talons, a small scroll reading 'E PLURIBUS UNUM' above it's head. 'UNITED STATES OF AMERICA' appears on the top arc and 'TRADE DOLLAR' on the bottom arc. The weight and fineness, '420 GRAINS, 900 FINE' appear directly below the eagle.
Trade dollars were legal tender in the U.S. until silver prices began to decline and their bullion worth became less than a dollar. As a result, the U. S. government revoked their legal tender status in 1876 and their value was reduced to the bullion value. This decision shocked many people who received Trade Dollars for payment only to realize they had been cheated. Trade Dollars use continued in export until they were discontinued in 1878, but Proofs were minted until 1885.
