The only coin ever made obsolete by the United States government, the Trade Dollar stands alone as an American numismatic anomaly. Allusive and very valuable in high grades, the Trade Dollar, made in the United States between 1873 and 1885, carries with it a numismatic appeal enjoyed by very few coin series produced in the United States.
As part of a stop gap program between active legislation to produce silver dollars, the United States government authorized the mints produced the Trade Dollar to release into Asia to compete with similar sized coins from other countries as part of the new trade partnerships being built in that region of the world. The Trade Dollar quickly became successful overseas but due to the declining prices of silver at the time, the United States government revoked the legal tender status of the Trade Dollar within the United States and limited production to meet only the demand for overseas trade. Many coins of the Trade Dollar series that still exist today carry hallmarks from their travels abroad as the warlords or merchants in Asia would punch a character representing their operation onto the Trade Dollar. These counterstamp marks on the Trade Dollar are called chop marks. There is a niche collector market for a chop marked Trade Dollar and depending on the condition of the Trade Dollar, some could carry a significant premium.
The Trade Dollar weighs slightly more than the standard American silver dollar and is also the only American coin ever to put its exact weight in silver right on the coin: 420 Grains. .900 Fine. As with any collectible, the Trade Dollar is condition sensitive and could command a wide spectrum of pricing depending on where the Trade Dollar falls on the scale of coin grading.
Examples of the Trade Dollar that are worn or show great usage that fall lower on the coin scale of 1-70 can trade for anywhere from 50-100 dollars on today’s open market and better coins and dates of the Trade Dollar series can go for much higher. To best determine the value of your Trade Dollar, bring it in to the coin experts at Nevada Coin & Jewelry.
With our combined experience spanning decades, we can quickly and efficiently authenticate and evaluate your Trade Dollar, at no cost to you, and provide you with the highest cash offer available in the Las Vegas Area.