1879 T$1 Trade Silver Dollar PCGS PR66 Cameo

Stunning proof example of one of our most beautiful coin designs. Only 1,541 of this issue was produced in 1879. Of those, there are 11 graded PCGS Proof 66 Cameo, with just 9 finer.

Due to its failure as a circulating medium in the United States, a satirical song about the Trade dollar was published in 1883.

The Trade dollar was created as a circulating trade coin for use in China and made its debut in 1873. It was a great success in China, and actually outperformed the ubiquitous Mexican Eagle silver dollar (8 Reales). However, the circulating version of it lasted a mere five years (1873-1878) due to several factors. Among them were having it circulate in the United States as well as China.

That was fine until 1876, when its value dipped below $1.00 domestically. Then its legal tender status (for only up to $5.00 for any single transaction) was cancelled. But they were still circulating and people and businesses were losing money due to the actions of unscrupulous silver/bullion merchants. The circulating version of the Trade dollar ceased production in 1878, despite its great success in China. The passage of the Bland-Allison Act (1878) brought us the Morgan dollar. However, proof issues of the Trade dollar were produced from 1873-1885.