Hi friends, welcome to the new post. Here we will learn about the 1884 Trade Dollar | 1 Trade Dollar, Pattern, United States. The trade dollar was made for circulation in Asia. It was made as a competitor to other dollar coins from different countries. Many coins that circulated in Asia come with oriental markings called chop marks. Trade dollars were used legally in the USA. In this post, we discuss the history of the different features and related factors of the 1884 Trade Dollar. So let’s get started with the 1884 Trade Dollar.
Birth of the Trade Dollar
Different types of series exist, trade dollars made from three mints: P, S, and D. The dollars with no mint mark are made from P mint. Dollars with CC mint made of Carson City. The dollars with the S mark are made at the S mint. The mint mark can be found at the back side of the coin over the letter D in the word DOLLAR.
Trade Dollar History
The Trade dollar was first time in 1873 for the silver export trade coin when Congress pushed the US towards gold standard, like that used in Europe. From 1873 to 1877, annual trade dollar mintage increased and was mostly made in the San Francisco Mint to facilitate trade in Asia.
Through the use of the veto of President Rutherford B Hayes, the Bland-Allison Act became law in 1878. Bland Allison authorized the manufacturing of silver dollars for common use. In a result of 1879 proof coins made for collectors. Phialdephia mint made 960 to 1987 Trade dollar proof from 1879 to 1883.
These coins were for collectors, and the US mint would melt down unsold coins for recovering bullion. There is no record for the 1884 trade dollar proof (10 coins) or 1885 trade dollar proof (5 coins), collectors not know about these coins until 1908 when their existence was revealed by John W. Haseltine Philadelphia mint dealer
Design Trade Dollars
William Barber the design of these coins, having seated Lady Liberty, an olive branch in her hand. The back side of coins features the bald eagle. Design modified with time, there is obverse type 1 and type 2, also reverse type 1 and reverse type 2.
Obverse
The front side of the 1884 dollar also comes with Lady Liberty.
Reverse
The backside of coins comes with an eagle with outstretched wings clutching olive branches and arrows, which are peace and strength features. The eagle on the back side is between naturalistic and heraldic. Its wings are away from body and its feathers are down.
head is moving right and the eagle has 3 arrows in its left talon and an olive branch in right. This side also has 2 berries.
Below eagle is weight and purity 420 GRAINs, 900 fine. Country name is also seen there over the upper half of the rim and the TRADE DOLLAR denomination is written. The motto E PLURIBUS UNUM also written there.
Value
Any trade dollar’s value is about its weight in silver. The silver melt value for every coin is about 23.25 dollars. This value is based on silver prices of $29.52 per ounce.
Trade dollars in good condition grade have a high value. Uncirculated coins and proof coins sell for higher value. With that many famous error types existing, and these error coins being of high value
A rare 1884 Trade Dollar could sell for half a million.
That is accurate; the high rare 1884 proof trade dollar is $500,000 at an auction in Baltimore, Maryland, in March 2023.
10 coins of 1884 Proof trade dollars exist in P mint. Coins made in proof quality, made with the use of special types of polished dies, and struck many times to make a mirror-like finish.
It comes with high-value coins in the USA, and preferred collectors of coins in rare condition make them high value. It is sold for the value of 50,000 dollars, which will be the high cost of 1884 Proof Trade Dollars.
The auctioned price of 1984 dollars is about $45,100.
Coin condition and rarity are of high value, and 10 of the 1884-proof trade dollars exist. It makes rare and in good condition. The coins come with a PR66+ Cameo grade, which is a high grade of proof coins.
The 1884 Trade dollar is a famous coin and rare and high value for collectors. It can be sold for more than $500,000.
Questions Persist Over 1884 Trade Dollars
Yes, some questions persist over the 1884 Trade Dollars.
- Why were they minted?
- 10 is the official mintage of these coins, and 9 coins exist, and it is considered that one coin melted and damaged. Some people think that more than 10 coins are minted and remain lost.
- How did they come to be?
- It was not supposed to be minted, and creation was stopped in 1878. Due to some reason, a small number of proof coins were made in 1884, and the reason was not known.
- Are they authentic?
- It is asked about the authenticity of 1884 trade dollars. The discussion about coins is that they are altered. There are no accurate details, and coins are checked by experts for authenticity.
1884 Trade Dollar Features
| Country: |
United States
|
| Year of Issue: | 1884 |
| Denomination: |
$1
|
| Edge: | Reeded |
| OBV Designer: |
William Barber
|
| REV Designer: |
William Barber
|
| Quality: | Proof |
| Mintmark: |
None (Philadelphia)
|
| Mintage: | 10 |
| Alloy: |
90% Silver, 10% Copper
|
| Weight: | 27.22 g |
| Diameter: | 38.10 mm |
1884 Trade Dollar Most Valuable
| Grade | Auction Year | Selling Price |
| PR67 | 1941 | $315 |
| 1992 | $176,000 | |
| 2003 |
Not disclosed
|
|
| PR66 | 1997 | $396,000 |
| 2019 | $1,140,000 | |
| PR65 CAC | 1950 | $765 |
| 1991 |
(No price stated)
|
|
| 2014 | $998,750 | |
| 2025 | $1,140,000 | |
| PR64+CAM | 1945 | $665 |
| 1984 | $45,100 | |
| 2020 | $552,000 | |
| PR64 CAM | 1946 | $800 |
| 1975 | $39,000 | |
| 2004 | $310,500 | |
| PR64 | 1976 |
$34,000 (part of Proof set)
|
| 2004 | $310,500 | |
| PR63+CAM CAC | 1944 | $375 |
| 1988 | $46,200 | |
| 2021 | $480,000 | |
| PR63 | 1988 | $57,200 |
| 2002 | $138,000 | |
| 2017 | $423,000 | |
| 2019 | $336,000 | |
| 2021 | $396,000 | |
| PF63 | 1974 | $30,000 |
| 1996 | $50,600 | |
| PR50 | 1944 |
Sold (No price stated)
|
| 2000 | $86,250 |
Read also:
- What is the Value of 1893 S Morgan Silver Dollar Worth Today
- 1912 Barber Half Dollar Coin Value (Regular Strike)
- 1941 Penny Worth Million Dollars
- Barber Half Dollars (1892 – 1915) Values- Price Charts & Coin Values
- 1978 Silver Dollar Value Guide In 2024 (Rare Error, “D”, “S” & No Mint Mark)
FAQs
- Why was it called a trade dollar?
Trade dollars are silver coins made as trade coins with different countries for trade with East Asia, especially China and Japan.
They are all approximated in weight and fine to Spanish dollars, which are standard for the de facto common currency for trading in the Far East.
- How much is a 1884 gold dollar coin worth??
| PrAg | G | VF |
|---|---|---|
| $225 | $250 | $350 |
- What is the 1885 Trade Dollar?
Proof-64 (PCGS). Both sides of this rarity in trade dollars series are dusted with iridescent antique silver toning.
Some blushes of warmer sandy rose tinting exist, mostly about the obverse periphery and over the less right reverse.
- What is a trade dollar used for?
Trade dollars are a type of silver coin used for foreign trade in the 19th century. They were legal tender in the USA for a short time and used for trade uses.
- Are trade dollars rare?
More than 36 million trade dollars were made in 13 years, and also 11,000 proofs. The creation of coins occurs at Philadelphia, Carson City, and San Francisco. The rear business strike is 1878CC with a mintage of 97,000, and most of that is melted.
- Are trade dollars valuable?
The trade dollar from 1876 in circulated condition is about $175 and $1075. The 1876 silver dollar in pristine, uncirculated condition sells for as much as $75,000.
- Who designed the Trade Dollar?
Congress suggested making trade dollars for promoting silver used in the US for commerce in Asia. It was not successful for the design of the trade dollars. William Barber made the reverse. J. A. Bailly was responsible for the obverse.
- How can you tell if a trade dollar is real?
- Use an agent for checking Gold and Silver Coins.
- Check Coins Closely for Visual Imperfections.
- Weigh and Measure Coins.
- Stack Suspicious Coins.
- Ping Silver and Gold Coins
- Put an Ice Cube on the Coins.
- Check the specific gravity of gold and silver coins.
- Why is the dollar the most traded?
Most commodities, like oil, are bought and sold in US dollars, and some main economies, like Saudi Arabia, still use currencies tied to the dollar. The main factors for dollar trade are its stable value, the size of the U.S. economy, and the United States’ geopolitical heft.
