1875-S $1 Trade Silver Dollar PCGS MS63 (CAC)

This specimen is a survivor of this popular and rare type coin. Trade dollars were produced from 1873-1877 in mint state and proof, while only proofs were minted from 1878-1883. Until 1876, they were legal tender in the United States, even though their main purpose was for commerce in China and throughout East Asia. That is why many circulated examples of Trade dollars are found with chop marks upon them. The vast majority of Trade dollars produced at the San Francisco mint, including those of 1875, were put on ships in the City by the Bay and sailed off to the Orient. Q. David Bowers, in his book, Silver Dollars & Trade Dollars of the United States, writes, "While the majority of [1875-S Trade dollars] were exported, thousands went into circulation on the West Coast ... where they traded at face value in commercial transactions." Those coins were used in commerce throughout Asia, however the vast majority of them were melted in China and India.

The Trade dollar was designed by U.S. Mint chief engraver William Barber. Numismatic art critic and scholar Cornelius Vermeule writes of it, "The design is a kind of glorification of all neo-Roman symbolism popular on U.S. coins in the 19th century." He quotes a "no-nonsense" report from 1873 that describes the obverse: "A female figure [is] seated on bales of merchandise, holding in her left hand a scroll bearing the word 'Liberty.' At her back is a sheaf of wheat, expressing, with the bales of goods, the commercial character of the coin: her right hand extended holds the olive branch." Vermeule continues his critique: "Peace and commerce are dispatched from the United States over the seas, for this Juno sits on a grassy plinth, inscribed with IN GOD WE TRUST and set beside the waves. A particularly satisfying eagle graces the reverse, small yet bold and a happy compromise between heraldry and concessions to feathery nature. The plethora of titles, mottoes, and inscribed statistics somehow does not seem out of place on either obverse or reverse."