Trade Dollars 1873-1885

About This Series

Conceived as America's weapon in the battle for Asian silver markets, the Trade dollar was authorized by the Coinage Act of 1873 to compete with the Mexican peso dominating trade in China. William Barber's obverse depicts seated Liberty extending an olive branch toward the Orient, with a heraldic eagle reverse. Weighing 420 grains (27.22 grams) of .900 fine silver — slightly heavier than the Morgan dollar — the Trade dollar was engineered to match or exceed the Mexican 8 reales silver content. Struck for circulation 1873-1878 at Philadelphia, San Francisco, and Carson City, mintages concentrated at San Francisco near Pacific trade routes. The Coinage Act of 1876 stripped domestic legal tender status, yet millions circulated at discounted values, creating hardship for workers paid in depreciated Trade dollars. Proof-only production continued 1879-1885, generating extreme rarities: the 1884 and 1885 proofs, with approximately 10 and 5 known respectively, are among the greatest prizes in American numismatics.