USA Coin Book Estimated Value of 1875 Trade Silver Dollar (Type 1 Reverse Variety) is Worth $275 in Average Condition and can be Worth $2,672 to $5,064 or more in Uncirculated (MS+) Mint Condition. Proof Coins can be Worth $3,680 or more.
What are US trade dollars?
The United States trade dollar was a dollar coin minted by the United States Mint to compete with other large silver trade coins that were already popular in East Asia. The idea first came about in the 1860s, when the price of silver began to decline due to increased mining efforts in the western United States.
Why was the US trade dollar minted in 1873?
Trade Dollar 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.
Where was the first US trade dollar struck?
The Carson City Mint received its first dies for the new coins on July 22, and those intended for the San Francisco Mint arrived shortly after. In total, 396,635 business strikes and 865 proof coins were struck at the Philadelphia Mint during the first year of production.
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When the price of silver plummeted, the legal tender status was revoked.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.
