1879 Silver Trade Dollar T$1 PCGS PR 65 CAC - Green Tag, Lovely Toning
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Product Details
This is a PCGS Graded Coin. You will receive the pictured coin. You are Buying a 1879 Trade Dollar graded PR65, housed in an old PCGS Green Tag Holder and CAC Approved. The year 1879 was one of a short-lived Trade dollar boom. Relegated to proof-only status (since there was no demand for circulation strikes), the series was a lame duck -- its days numbered -- although speculators and collectors were quick to capitalize on the small proof mintage of 1,541 pieces. Many of those coins still exist today, but few are as attractive as this richly toned Gem. A sharp strike resides beneath shades of azure-blue, violet, and sunset-gold. Frosted devices sit on vibrant, glassy-mirrored fields that show a few delicate lines but no marks or distractions. The current offering is a magnificent Choice Gem representative of the 1879 issue. Careful examination of the piece reveals razor-sharp definition of all design elements, including denticles, obverse stars, and the head detail of Liberty. The trickier reverse elements, including the eagle's wing feathers and talons, are likewise crisply delineated. Fully brilliant and very pristine, the piece exhibits deep mirror fields and richly frosted devices, resulting in a lovely, stark cameo contrast on both sides. The final business strike Trade dollars were minted in 1878, in Carson City and San Francisco, after Treasury Secretary John Sherman decreed that production cease. This decree did not extend to proof coinage, however, and proof-only issues were made from 1879 until the end of the series. This is an excellent coins to add to your collection.
Coin Features:
PCGS graded PR65
Known as a US Silver Trade Dollar
Black and White separation of field and cameo surfaces
Minted mostly for trade with China and conformed to a similar standard of Mexico 8R Silver
Obverse: Liberty Seated Facing West bearing an olive branch. Around Rim 13 Stars. Motto In god we trust.
Reverse: Forward Facing Eagle Bearing Arrows and Olive Branch. Around Rim United States of America Trade Dollar. Motto E Pluribus Unum. 420 grains 900 fine.
Trade Dollars (1873-1885) - As the United States spread across the continent merchants on the west coast were increasingly dependent on trade with nations from the Far East. The preferred medium of exchange in the Orient was the Spanish Milled dollar, most of which were at the time produced in the lucrative Potosi Mints. The Seated dollar used domestically in the U.S. was slightly lighter and contained less silver. This difference forced traders to exchange the U.S. species for the Spanish examples at a premium. Eventually Congress created legislation to create a heavier commercial trade instrument and through the Coinage Act of 1873 the Trade Dollar was born. Traders could deposit silver with the Treasury in exchange for the new dollar. The new coin was meant for export only, but found use in the western states where silver dollars were scarce and paper money equivalents were often not accepted. As the price of silver decreased the Trade dollar was discontinued and in the final years the denomination was produced as Proof Examples. The storied past and the elusive nature of this interesting dollar type makes the Trade dollar popular among modern collectors. Many seek the mutilated examples with Chinese chop marks punched into the surface which denoted the coin having been tested by the Asian merchants.
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