Trade Dollars (1873-1885)

The Trade Dollar was in response to other Western powers in Asia circulating large, crown size silver coins like Great Britain, Spain, and France. Trade Dollars were not circulated in the United States but were legal tender. The main reason for this was because Trade Dollars had a slightly higher silver content than the Seated Liberty Dollar and Morgan Dollar which were minted for circulation in America. As had been intended, many Trade Dollars ended up in the orient.

Some of them have oriental chopmarks which were counterstamps from the orient. Many trade dollar coins of the western powers and of the large silver coins from China, Korea, and Japan have these chopmarks. Coins with chopmarks are worth less than those without. The United States Trade Dollar officially was terminated in 1887, and all non-mutilated outstanding Trade Dollars were redeemed by the United States Treasury.