The 1878 CC trade dollar is worth around $850 in very good condition. In very fine condition the value is around $2,250. In extremely fine condition the value is around $3,750. In uncirculated condition the price is around $13,500 for coins with an MS 60 grade.
What were silver dollars made of?
Generally speaking, United States Silver Dollars dated 1935 or earlier are made from 90% silver, 10% copper – with a total silver content of around 0.77-0.78 troy ounces.
What were trade dollars?
Trade dollars are silver coins minted as trade coins by various countries to facilitate trade with China and the Orient. They all approximated in weight and fineness to the Spanish dollar, which had set the standard for a de facto common currency for trade in the Far East.
What was the purpose of the 1873 trade dollar?
1873-1885 Trade Dollars. United States Trade Dollars were authorized under the Mint Act of 1873, which had suspended production of the silver dollar. The new silver coins carried different specifications and were struck primarily for the purpose of export trade with Asia.
How many US coins were in circulation in 1877?
Despite the demonetization of the trade dollar, bullion producers continued to place the coins into the American market, resulting in an estimated seven million coins circulating within the United States, of which more than four million were placed in circulation in 1877.
Who was the creator of the trade dollar?
When the price of silver plummeted, the legal tender status was revoked. After 1878, the series was only struck in limited quantities in proof format. The Trade Dollar was designed by William Barber and was loosely based on the design of contemporary silver coins in circulation designed by Christian Gobrecht.
When was the US trade dollar made legal tender?
Trade dollar (United States coin) A bill providing in part for the issuance of the trade dollar was eventually put before Congress, where it was approved and later signed into law as the Coinage Act of 1873. The act made trade dollars legal tender up to five dollars. A number of designs were considered for the trade dollar,…
