Coin Gallery Online - 1885 Trade Dollar

Photos courtesy of Legend Numismatics

Composition: .900 Silver, .100 Copper Diameter: 38.1mm

Weight: 27.22 grams / 420 grains Edge: Reeded

This coin last sold at public auction April 1997 for $907,500 at the Louis E. Eliasberg, Sr. auction conducted by Bowers and Merena. Trade Dollars were struck from 1873 thru 1885 with the distinction of being our nation's first "bullion" coin. They were originally struck primarily for use in trade with China.

Louis E. Eliasberg considered this coin one of the highlights of his collection. He wrote, "These interesting trade dollars were minted from 1873 to 1878 inclusive for general circulation in the Far East to compete with the Mexican and Spanish dollars then circulating there. From 1879 to 1885 inclusive these trade dollars were minted in Proof only for numismatists. Naturally, the coinage of these later dates was very limited, especially those of 1884 and 1885, of which only 10 and five specimens respectively were struck."

The National Numismatic Collection at the Smithsonian, the American Numismatic Society and the American Numismatic Association all lack examples of this coin. These are collections boasting such exciting holdings as 1804 Dollars and 1913 Liberty Head Nickels. The true rarity of the 1885 Trade Dollar is evidenced by the period of years, even decades between public offerings. This coin being more rare than the 1804 Dollars (15 known) and on par with the 1913 Liberty Head Nickels (5 struck, but only 4 accounted for).

In the 1997 Eliasberg catalogue, Q. David Bowers wrote, "In the cataloguer's opinion, the Eliasberg Collection 1885 trade dollar is simply sensational, breathtaking, and not only is a highlight of the Eliasberg Collection, but of the entire numismatic series...the owner will rest comfortably knowing that he or she has a piece of combined rarity and quality that no amount of money can duplicate."

Pedigree: Col. A. Loudon Snowden (tentative), superintendent of the Philadelphia Mint; William K. Idler, John W. Haseltine; William H. Woodin or O.H. Granberg (tentative); William Cutler Atwater; B. Max Mehl 1946 sale to Louis E. Eliasberg, Sr.; Bowers and Merena 1997 sale to Jay Parrino; 1999 sale to Legend Numismatics.