1877 $1 Proof Trade Dollar Silver PCGS PR63

Product Description

An 1877 (Philadelphia Struck) Proof Trade Dollar graded Proof 63 (PR-63) by PCGS. This piece displays an original luster, milky surfaces and excellent, sharp frosted details. The total mintage for this date & mint in proof: 510. Please view our photos for additional information and ask any questions prior to purchase.

The United States trade dollar was a one dollar silver dollar minted from 1873 to 1885. Since 1873, the silver dollar used for American commerce had ceased production and the trade dollars inception was exclusively to compete with foreign coins of similar weight and size (e.g. Mexican 1 Peso). When production began in 1873, a majority of the pieces struck were sent to East Asia for trade. However, the law of 1873 regarding silver coinage had no specific standards, and bullion producers of the time began to convert their silver into trade trade dollars which made their way into American commercial trade channels. Frustrated merchants then began to trade the one dollar pieces for less than face value. Furthermore, by 1874 official complaints had reached the mint about poorly struck pieces. William Barber who had created both the obverse and reverse designs lowered the relief so that the highest points of the coin would be struck sharply.