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Trade Dollars

LegendLegend
edited January 2022 in General
First, I am not a good teacher never have been. This thread is NOT about me, any grading, or values. I also do not know how-to put-up images. 

It would be nice if each responder wrote one FACT about Trade Dollars. 

As a little baby numismatist, I was captivated by the look of a TD. The history seems to be as great as any other series-starting from why they were minted. I think Chop Markk TD's are wicked cool. And then you have a huge number of varieties-some that would make the bust half guys blush! 
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Comments

  • BidaskBidask
    They traded in China 
  • johnjohn
    There are Trade Dollars with Hanja (Korean) chop marks and Hangul (Korean) chop marks. The Hanja marks are many times misidentified as Chinese, because of subtle differences of the Hanja-eo character and traditional Chinese character. Before asking the obvious, yes, U.S. Trade Dollars were used in Korea (and Japan, BTW, and there are Japanese chop marked Trade Dollars, but are very easily identified as such....but not so easy with Korean Hanja).

    I know stuff.
  • TurtleCatTurtleCat
    They were a product failure both at home and abroad when it came to commerce. 
  • johnjohn
    Is that FACT or opinion, and when did the failure occur, abroad....before or after the silver value change? Before or after a TD was first used in Trade in Asia? I understand the comment, but there were certainly benefits when implemented and used. Wasn't  it also legal to used TDs domestically up to $5?
  • WabbitWabbit
    Now that PCGS is grading them PL, I really want one of those.  Thought for sure I had one, but PCGS called it "tooled".  I'll try again sometime.
  • TurtleCatTurtleCat
    john said:
    Is that FACT or opinion, and when did the failure occur, abroad....before or after the silver value change? Before or after a TD was first used in Trade in Asia? I understand the comment, but there were certainly benefits when implemented and used. Wasn't  it also legal to used TDs domestically up to $5?
    Various CoinWorld magazine articles and other referenced items. 
  • SeatedNutSeatedNut
    It’s harder to find a nice 73s $ then the "key date" 78cc
  • johnjohn
    I was truly interested, for other reasons. I only use caps for FACT, because the OP did....I don't want anyone to think I was being snarky (as usual).

    I am not sure CoinWorld is the definitive reference I would use, but I guess there could be some research info.
  • TurtleCatTurtleCat
    john said:
    I was truly interested, for other reasons. I only use caps for FACT, because the OP did....I don't want anyone to think I was being snarky (as usual).

    I am not sure CoinWorld is the definitive reference I would use, but I guess there could be some research info.
    If I have time, I will see if I can round up the article references. My recollection is that they were not appreciated in domestic commerce and people complained about receiving them as payment. That they couldn’t displace the use of Spanish milled dollars either. 
  • BustDMsBustDMs
    The only US coin to be demonetized. 

    When the price of silver plummeted it was possible to buy them back from far eastern merchants at their silver melt value which was less than a dollar.  Mine owners and rich merchants then paid their workers with them at face. The practice was stopped after numerous complaints. 
  • WrightyWrighty
    edited January 2022
    Interesting quick article about Trade Dollars from a 1917 publication.
    https://www.jstor.org/stable/pdf/1814353.pdf
  • EarlyFederalCoinageEarlyFederalCoinage
    The trade dollar was not legal tender in the U.S. at the time of issuance.

    I too have always liked the design and found the history interesting. I’m not a fan of chop marks though. Bruce’s set was amazing.
  • ZoinsZoins
    edited January 2022
    1876 Trade Dollar
    grade: PCGS MS67 pop 1/0 CAC
    pedigree: Bruce Morelan, Black Cat
    cert: https://www.pcgs.com/cert/50079042

    A fact is that I love this coin ;)

    It was formerly owned by Bruce Morelan and is now in the Black Cat Collection.

    It would be great if this coin and others in Bruce's collection listed him in the pedigree / provenance, but I do love the old school TrueView background (with CLCT stock symbol) and it would be shame to lose that.

    I wonder if Laura can give her opinion of how this ranks on the Legend 1-10 Color Scale :) 


  • sdjacosdjaco
    beautiful coin with 420 on it, ;)
  • CryptoCrypto
    edited January 2022
    It was an attempt by the US to lquidate our silver stockpile from the famed Comstock discoveries into international markets as not to flood our economy. It didn't work and the price in London fell by almost 50% in the first couple of years. One of the few international denominations ever created by America with the like of the gold Pound coins WW2 for gas payments . 

    And other countries copied them trying to get rid of their silver 
      
  • RealoneRealone
    edited January 2022
    The poor man's version of Tradedollarnuts gorgeous '76-p. BTW I need a better photo.



    I love failures, it sets the series apart from all others and adds an interesting backdrop/ a cool story and for me makes the series incredibly interesting. The fact that it was created for foreign trade is fascinating, name another that was minted for the same purpose.
  • Eldorado9Eldorado9
    My 1876, PF-65+ CAC. Type II/II Fact: On the type 1 obverse, Liberty's outstretched hand has three fingers and a thumb! This anatomical error was corrected with the Type 2 obverse die.


  • DDRDDR
    Love this thread!

    Usually, chop marks lower the value of Trade Dollars. Occasionally, like the 1878-CC example below --formerly in Bruce Morelan's collection-- they increase the value of the coin.


  • orevilleoreville
    edited February 2022
    This is not a fact but a submitted opinion. I loved TDN one time interest in Chop marked trade dollars but when trying to buy one or two of them for my type set I felt that no chop marked trade dollars should ever be graded higher than AU-58. So I stuck to that opinion.
    Any thoughts?
  • ZoinsZoins
    edited January 2022
    DDR said:

    Love this thread!

    Usually, chop marks lower the value of Trade Dollars. Occasionally, like the 1878-CC example below --formerly in Bruce Morelan's collection-- they increase the value of the coin.


    Very nice coin. Love the look and the CC!

    This is a PCGS AU58 for @oreville :)

    Hopefully, Bruce will join us on these forums!
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