1872 Liberty Trade Dollar 420 Grains 900 Fine
The 1872 Liberty Trade Dollar is a historic American coin that was minted from 1873 to 1885. This coin was designed by William Barber and was intended to be used in international trade with Asia. The coin weighed 420 grains and was made of 900 fine silver. It has a diameter of 38.1mm and a thickness of 2.4mm. The obverse of the coin features Lady Liberty with a Phrygian cap and the reverse features an eagle with outstretched wings.
The History of the 1872 Liberty Trade Dollar
In the late 19th century, trade with Asia was becoming increasingly important for the United States. However, American merchants were at a disadvantage because they had to use Mexican silver dollars or other foreign coins in their transactions. These coins were often of varying weights and fineness, making trade difficult. The idea of a trade dollar was therefore proposed.
The first trade dollar was minted in 1873, but it was not until 1875 that the coin was standardized to the specifications of 420 grains of silver and 900 fine. This made the coin roughly equivalent in weight and fineness to other coins used in international trade.
The Liberty Trade Dollar was minted until 1878, when it was replaced by the Morgan Silver Dollar. However, it was revived briefly in 1879 and minted until 1885. The coin was never widely used in Asia as intended, but it became popular among American collectors.
The Design of the 1872 Liberty Trade Dollar
The obverse of the 1872 Liberty Trade Dollar features Lady Liberty with a Phrygian cap, symbolizing freedom. She is surrounded by 13 stars, representing the original 13 colonies of the United States. The date "1872" is below her. The reverse of the coin features an eagle with outstretched wings, clutching arrows and an olive branch in its talons. The eagle is surrounded by the inscription "UNITED STATES OF AMERICA" and "TRADE DOLLAR."
The design of the coin was controversial at the time. Some critics felt that the Phrygian cap was too similar to the cap worn by freed slaves in ancient Rome, and that Lady Liberty should have a more traditional American headdress. Others felt that the eagle on the reverse was too similar to the eagle on the Mexican peso, and that a more distinct American symbol should have been used.
Collecting the 1872 Liberty Trade Dollar
Today, the 1872 Liberty Trade Dollar is a popular coin among collectors. Because the coin was only minted for a few years and in relatively small numbers, it is considered rare. The value of the coin depends on its condition and rarity, with some coins selling for thousands of dollars.
If you are interested in collecting the 1872 Liberty Trade Dollar, it is important to purchase the coin from a reputable dealer and to have it authenticated by a third-party grading service. This will ensure that you are getting a genuine coin and that it is accurately graded.
Conclusion
The 1872 Liberty Trade Dollar is a fascinating piece of American history. Although it was not widely used in international trade as intended, it has become a popular collector's item. The coin's design was controversial at the time, but it is now appreciated for its unique and beautiful appearance. If you are interested in collecting American coins, the 1872 Liberty Trade Dollar is definitely worth considering.