1875-S Trade Dollar. Type I/II. MS-65 (PCGS).

Intense satin white luster is seen on both sides of this bright and brilliant example. The strike is full in virtually all areas, and the surfaces are as nice as would be expected at the Gem Mint State grade level. The United States trade dollar made its debut in 1873 with circulation strike coinage continuing on a yearly basis through 1878. Authorized by the Act of February 12, 1873, which also abolished the standard silver dollar, the trade dollar had its genesis in the 1850s with growing commercial ties between merchants in the United States and the burgeoning ports and cities in the Orient, especially China. During the late 19th century Oriental merchants preferred to conduct business using silver coins, the favored medium of exchange being Spanish-American 8 reales. In order to acquire these coins for overseas commerce, however, American merchants had to pay a premium, and calls were soon heard for a domestically produced silver coin. The Liberty Seated silver dollar had been used in trade with the Orient from time to time during the late 1850s, 1860s and early 1870s, but in general the mintages were limited and there were simply not enough Liberty Seated dollars to meet demand. The trade dollar replaced the silver dollar in 1873 with the specific purpose of meeting the needs of commerce with the Orient. Indeed, the new denomination was authorized at a weight standard of 420 grains, greater than the 412.5-grain silver dollar and intended to make the trade dollar more attractive in the eyes of Oriental merchants. Yearly mintages were also much higher than those of the Liberty Seated dollar, especially at those coinage facilities closest to the ports of embarkation for the Orient (the Carson City and, especially, San Francisco mints). The trade dollar became an instant success in its intended role. At 4,487,000 pieces produced, the 1875-S has one of the highest mintages among circulation strike trade dollars, and it is one of the leading type candidates in this series. The present Gem represents an opportunity for high grade type collectors. In addition, the Type I/II hub combination offered here is scarcer than its Type I/I counterpart, especially in Mint State.

PCGS# 7039. NGC ID: 2536.

PCGS Population: 28; 14 finer (MS-68 finest).