Saturday, October 10, 2009

An Introduction to Trade Dollars

An Introduction to Trade Dollars

A Post all about Trade Dollars Introduction.

The United States silver Trade Dollar is issued by the U.S. Mint mainly for trading purposes with the countries like chine, Korea and Japan. Mainly for the purpose of trading with china it was used extensively and to improve trade with china. Previously Mexican peso was used to trade with china. Later trade dollars replaces Mexican peso.

The trade dollars were minted in Philadelphia, Pennsylvania, Carson City, and San Francisco from 1873 to 1885. More were minted in San Francisco as it was very near to the silver source. William barber, the mints chief engraver designed the coin which is composed of 90%silver, 10% copper and 420 grains in weight. The chopmarks are there to exhibit the originality and authenticity of the coins produced and used.

The U.S. trade dollars are facing some serious issues nowadays. Various qualities of U.S. trade dollars are found in china and made in china. The coin collectors are warned about it. They are advised to buy the coins from the known authentic source. The certified dealers are there to sell the coins and the collectors are asked to purchase from them to avoid the problems of fake. There is an existing fact which is quite astonishing that 90% of all the U.S. Trade dollars are fake (on Ebay). The good part of it is that the fake coins can be detected. The main major ways to deduct the fake coins are


There will be ladies head on the coin. The ribbon curls behind her head have holes in it in which the metal was chipped out of the dies.

Note the eagle in the coin. Its eyes will be full.

Note the rim. The reeds on the rim will be close together.

The fake coins look worn.

From the weight also the fake can be determined. The fake coins are silver washed around copper and will weigh only 18 grams. Remember the original coins weigh 420 grains

All the above denotes that the coin is fake. In the original coin the eyes of the eagle will be half shut or incused. All the above are just suggestions to find out the fake. These will not help one to find the fake always. Luck also plays a major role in finding the fake and avoiding them and the consequences.

In March 1955, Benjamin Stack advertised a pair of Trade dollars rarities. In 1884 and in 1885 he advertised for $6,500 in the book “The Numismatic Scrapbook Magazine”. The Trade dollars were auctioned in 1988 which is an astonishing fact which was a piece of information in the Norweb Collection. During the early American republic there was a considerable shortage of silver and gold coins. The silver coins are driven away for circulation in the late 1840. Due to Civil war, discovery of gold in California, monetary system the value of silver raised to $10,000,000 by 1864.


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