1873 Trade Dollar 420 Grains 900 Fine Price
The 1873 Trade Dollar is a coin that was minted by the United States Mint from 1873 to 1885. It was designed to be used in trade with countries in Asia, where the demand for silver was high. The coin contains 420 grains of silver and is made up of 90% silver and 10% copper. This article will discuss the history behind the 1873 Trade Dollar and its current price in the market.
History of the 1873 Trade Dollar
The 1873 Trade Dollar was introduced by the United States Mint in response to the high demand for silver in Asia. The coin was intended to be used in trade with countries such as China and Japan, where silver was used as currency. The design of the coin features Lady Liberty on the obverse and an eagle on the reverse. The coin was minted in Philadelphia, San Francisco, and Carson City.
The 1873 Trade Dollar was met with controversy and criticism. It was larger and heavier than other US coins, and its high silver content made it more valuable than other coins in circulation. Some people accused the government of intentionally making the coin too heavy to encourage its export and boost the price of silver. Others claimed that the design of the coin was too similar to the Mexican dollar, which was already widely used in Asia.
Current Price of the 1873 Trade Dollar
The value of the 1873 Trade Dollar is determined by several factors, including its rarity, condition, and historical significance. As of 2021, the price of the coin ranges from a few hundred dollars for a circulated coin in poor condition to tens of thousands of dollars for a coin in excellent condition.
The most valuable 1873 Trade Dollars are those that were minted in Carson City. These coins are rare because the Carson City Mint only produced a small number of them. Coins that are in excellent condition and have been well-preserved are also highly valuable. Coins that have been cleaned or damaged are worth significantly less.
Collecting the 1873 Trade Dollar
The 1873 Trade Dollar is a popular coin for collectors due to its historical significance and rarity. Collectors may seek out coins from specific mints or in specific conditions. Some collectors may also seek out coins with unique characteristics, such as errors in the minting process.
Collectors should be aware of the risks involved in buying and selling rare coins. It is important to purchase coins from reputable dealers and to have them authenticated by a professional grading service. Collectors should also be aware of the current market value of the coins they are interested in and should be prepared to pay a fair price for them.
Conclusion
The 1873 Trade Dollar is a fascinating coin with a rich history and significant value. Its design and controversy make it an interesting addition to any coin collection. Collectors should be aware of the factors that determine the value of the coin and should take caution when buying and selling rare coins. With proper care and attention, the 1873 Trade Dollar can be a valuable and treasured part of any collection.