1876-S $1 Trade Silver Dollar NGC XF45

Please see below listing for recent auction records

Helpful NGC XF45 Price Information:

Collector's Universe: $550.

NGC Price Guide: $475 (for XF40).

Coin Dealer Newsletter: $365.

Here’s an affordable Trade dollar to add to your collection. The 1876-S was the largest mintage of Trade dollars to date: 5,227,000. According to research, many of these coins were struck for the benefit of bullion dealers who were profiting on the difference between the trade dollar's intrinsic value, which was steadily falling, and its value as a legal tender dollar. However, its legal tender status was removed in July of 1876.

An interesting fact about the Trade dollar is that it had no face value. It simply stated upon it “Trade Dollar.” However, many of this issue also were sent to China in trade. The 266 examples graded by PCGS as “Chop Mark” attest to this.

NGC has graded 67 as XF45 with 932 finer.

The Second San Francisco Mint, where this piece was struck in 1876. Photo: Wikimedia Commons.

When Congress withdrew the Trade dollar's legal tender status in July to correct such abuse, the effect was insignificant. Most Americans didn't know the legal intricacies and just assumed it was a silver dollar that was worth a dollar. NGC Coin Explorer writes, “Banks and businesses were left holding the bag as these now-unredeemable coins continued to pile up in inventory.”

Relevant auction records: 

• 07/2024 GC @ $448.
• 07/2024 HA @ $423.