1873 Trade Dollar

Historical Notes

Trade Dollar - issued for circulation in China

Congress authorized the Trade Dollar in 1873 to compete with other silver coins in the Asian market. The coin contains 420 grains of silver, which makes it slightly heavier than the standard Seated Liberty dollar. William Barber designed the obverse, which shows Liberty seated on a bale of cotton, and the reverse, which features a perched eagle. He won the design commission after a competitive selection process at the Philadelphia Mint. Production of the Trade Dollar ended for circulation in 1878. The United States stopped the coin because its value in silver bullion dropped below its face value, which led to widespread melting. Collectors often find these coins with chopmarks, which are small stamps applied by Asian merchants to verify the silver content. The Mint produced proof-only issues from 1879 until the series concluded in 1885.

Focus your collection on the 1877-S and 1878-S issues, as these are the most common dates and offer the best entry point for new collectors. Inspect your coins for artificial toning or cleaning, as these flaws drastically reduce value. Counterfeit Trade Dollars are common because of the coin's high silver weight, so buy only coins certified by major grading services like PCGS or NGC. Avoid coins with heavy chopmarks unless you specifically enjoy the historical connection to international trade.

This series includes key dates — check individual coin pages for rarity details.