Trade Dollar

The silver Trade Dollar was minted by the US Mint as a response to other nation’s large silver coins that circulated freely in the Far East. These coins were often counterstamped with small Chinese characters called ‘chop marks’. The chopmarks meant that the merchant had accepted the coin at its silver value and attests to the coins fineness. The Trade Dollar was designed by William Barber.

The coin features a seated Liberty on bales of cotton. She faces left toward the Orient. In her left hand she holds a ribbon inscribed with the word LIBERTY. In her right hand she holds up an olive branch that symbolizes peace. The 13 coins represent the 13 colonies.

On the reverse is a perched eagle with its wings raised. The eagle has a cluster of arrows in its talons and an olive branch to represent war and peace.

The Trade Dollar was minted from 1873 to 1885 in Philadelphia, Carson City and San Francisco. The business strikes ended in 1878. There were more Trade Dollars minted in San Francisco than Carson City and Philadelphia because San Francisco was close to the source of silver as well as to China-where the coins were heading.

The US Congress authorized the Mint to create the trade dollar to improve trade with the Orient and especially China. The Mexican peso was the primary silver coin used in trading with China prior. The eagle on the reverse of the Trade Dollar does look much like the peso’s.

China has produced some counterfeit Trade Dollars in recent times, trying to pass them off as originals.