The United States Trade dollar was a silver coin minted by the United States Mint from 1873 to 1885. The primary purpose of the Trade dollar was to compete with other trade coins, particularly the Mexican peso, which was widely used in the Orient. The U.S. hoped that the Trade dollar would gain acceptance in trade with China and other Asian nations.
Key features of the U.S. Trade dollar include:
Design: The obverse (front) of the Trade dollar features a depiction of Liberty with flowing hair, a cap, and a headband inscribed with "LIBERTY." The reverse (back) features a detailed depiction of an eagle with outstretched wings, clutching an olive branch and three arrows. The coin's denomination is expressed as "420 GRAINS, 900 FINE."
Composition: Trade dollars were minted in 90% silver and 10% copper, similar to other U.S. silver coins of the time. They had a weight of 27.22 grams (420 grains) and a diameter of approximately 38.1 millimeters.
Minting Years: Trade dollars were produced from 1873 to 1885, with the exception of 1884 and 1885 when no coins were officially minted for circulation. Some proofs were struck in 1884 and 1885, but they were not intended for general circulation.
End of Production: Due to various reasons, including objections from domestic business interests and a lack of popularity in Asian trade, the production of Trade dollars was discontinued after 1885. The coins were demonetized in 1876, meaning they were no longer legal tender in the United States.