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1 Dollar 'Trade Dollar'
| Issuer | United States Mint |
|---|---|
| Year | 1873-1885 |
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| Value | Log in to see details |
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| Composition | Log in to see details |
| Weight | 27.22 g |
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| Obverse description | Log in to see details |
|---|---|
| Obverse script | Latin |
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| Reverse description | A heraldic bald eagle with wings displayed stands facing left at center, clutching three arrows in its left talon and an olive branch bearing berries in its right talon. A scroll ribbon above the eagle bears the motto E PLURIBUS UNUM, while the legend UNITED STATES OF AMERICA curves along the upper periphery. The denomination TRADE DOLLAR. is inscribed along the lower border, flanked by the weight and fineness specification 420 GRAINS. 900 FINE., with the mint mark appearing in the lower field beneath the eagle. |
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| Additional information |
Congress authorized the Trade Dollar in 1873 explicitly for commerce with China, where Mexican pesos dominated because merchants weighed coins rather than accepted them at face value. At 27.22 grams, it was heavier than the standard silver dollar specifically to compete on those scales. It worked — briefly. Chinese merchants chop-marked acceptable pieces, and unchopped Trade Dollars are now the exception in circulated grades.
The problem came domestically. Congress made Trade Dollars legal tender up to five dollars, then revoked that status in 1876 while silver prices were falling. Unscrupulous employers paid wages in Trade Dollars at face value; workers couldn't spend them at par. The resulting public outcry was genuine. Legal tender status was never restored, and the series was officially discontinued in 1883 — though proof-only strikes continued through 1885.