Trade

Trade Dollars were coins issued by various countries for use in foreign trade. The United States Trade Dollar is a silver dollar coin that was issued by the United States Mint and minted in Philadelphia, Pennsylvania, Carson City, and San Francisco from 1873 to 1885. Business strikes ended in 1878. The coin was designed by William Barber, the mint's chief engraver. More trade dollars were minted in San Francisco than Carson City and Philadelphia combined. San Francisco was closest both to the source of the silver as well as the ultimate destination of the coins, China.

Many Trade Dollars have what are called "chop marks" on them. The Chinese merchants would stamp the coins as a way to check their authenticity and to add their advertising logo. Congress authorized the mint to create a trade dollar to improve trade with the orient, China in particular. Prior to that, the Mexican peso had been the primary silver coin used in trading with China. The US trade dollar was minted of 420 grains (27 g) of silver with a fineness of 900 (90 %), about 8 grains (520 mg) more than the domestic silver dollar of the time.

Information taken from Wikipedia, the free encyclopedia

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