Goldberg Coins and Collectibles

Sale 63

The Pre-Long Beach Auction of US, World Coins and Currency

Trade Dollars

Lot	Photo	Description	Realized
Lot 921		1873. Proof 60 plus. Uniformly toned. Only 865 Proofs struck. This is the first year Trade Dollars were struck. The series ended production in 1883, but Congress did not abolish the denomination until 1887. Estimated Value $1,700 - 1,800. View details and enlarged photos	Unsold
Lot 922		1876-S. PCGS graded MS-64. Well struck with light even gold toning. Both the peripheries and the central areas are impressive for their detail in the strike, and for the frosty textured surfaces which are glistening. No deviation in the fine relief seen, not even in the centers of the coin, though one star back of Liberty's hair bun is marginally weak, as are a few curls of hair. Centennial year from the San Francisco Mint. Trade Dollars for use as currency were made in 1873-78; Proofs-only thereafter until 1883. Production of the former soared to new heights in 1876 and 1877 at the Philadelphia Mint, and at the San Francisco Mint in 1877 and 1878. However, on February 22, 1878, Treasury Secretary John Sherman, described by Bowers as a foe of the Trade dollar, ended its production, at least for circulation. Pop 102; 5 finer with 4 in 65, 1 in 66 (PCGS # 7043) . Estimated Value $2,000 - 2,100. View details and enlarged photos Check results on similar lots	Realized $2,415
Lot 923		1879. PCGS graded Proof 63 Cameo. CAC Approved. Only 1,541 pieces struck for this Proof only date. This is a nice white coin. Furthermore, a radiant Choice Proof of the kind of '63' quality one hopes to describe for bidders of this actively collected Trade Dollar design. Careening mirror luster blends effortlessly with pale satiny highlights on the raised devices (PCGS # 87059) . Estimated Value $1,900 - 2,000. View details and enlarged photos Check results on similar lots	Realized $2,990
Lot 924		1882. NGC graded Proof 65. Lovely blue and gold toning. Only 1,097 pieces struck. By the later-1870s, it became clear to everyone except congressmen that America's Trade Dollar experiment was a failure. Many of these nonmonetized coins remained at home instead of circulating in the Orient, as had been the primary intent, and caused untold grief to workers and small businessmen. Eventually, the wheels of congress began turning: after 1878, only Proofs were struck, exclusively for collectors. And finally, in 1887, our "Coconuts on the Hill" (as H. L. Mencken called these erstwhile DC. gentlemen) put an end to the experiment. The beautifully toned Gem Proof designated by NGC at this level is another splendid coin boasting frosty devices set against mirror surfaces. 1882 represents the middle of an interesting string of Proof-only dates. Coins of this year come on the market with some regularity, but few match this combination of high grade, quality, and superb toning, the last feature being more important in our opinion. When a coin has everything, including a Proof 65 grade number, perhaps an ideal situation is reached. Pop 64; 37 finer . Estimated Value $6,000 - 6,500. View details and enlarged photos	Realized $6,900
Lot 925		1882. PCGS graded Proof 64 Cameo PQ. CAC Approved. Only 1,097 struck for this Proof only date. Frosty devices surrounded by mirror-deep fields that are blessed with shimmering reflectivity. The more matte designs of Liberty and the eagle stand out nicely against this brilliance. No toning, just silver-white color. And so to the next qualification, the strike. Here we see quite excellent detail typical of the well made Proof-only issues of 1879-83, with not even minor weakness to the sharp centers; all stars are full. A desirable example! Pop 34; 6 in 65 CAM; 4 in 66 CAM; 1 in 67 CAM; an d1 in 68 CAM (PCGS # 87062) . Estimated Value $3,800 - 4,200. View details and enlarged photos Check results on similar lots	Realized $4,600
Lot 926		1883. PCGS graded Proof 64 CAC Approved. A popular Proof-only date with a hint of light milky gray tone. Sharply made. Only 979 struck. Pop 118; 61 finer (PCGS # 7063) . Estimated Value $3,700 - 4,000. View details and enlarged photos Check results on similar lots	Unsold
Lot 927		1883. NGC graded Proof 63 Cameo. A glittering totally white Cameo Proof. Popular Proof-only date with only 979 struck. Silver Dollars had never been popular with Easterners, who preferred paper money in their pockets. Still, the Mint kept right on striking them. That is, they were made annually until 1873, when Congress passed the Act of 1873 demonetizing Silver Dollars (at the time, Seated Dollars). Instead, a new Trade Dollar was introduced. The Trade Dollar was intended to circulate in the Far East, specifically in the China trade, which then was burgeoning. However, profit-seeking individuals soon began to buy them up at their bullion value. (Since Trade Dollars had never been monetized they could not technically be placed into circulation in the States.) They sold them to jobbers who in turn wholesaled them to employers. The employers passed them off on their employees, making a small, but useful profit on the transaction! Imagine the uproar that would ensue if your employer were to pay your wages in, say, unspendable Canadian dollars, and you get some idea of the trouble US Trade Dollars caused. Congress elected to clean up the mess, but only in 1887 when it canceled the issue's authorization and ceased production. Between 1879 and 1883, only Proof Trade Dollars were minted. These were included in the Proof Sets each year, with additional coins sold individually to collectors. Pop 17; 63 finer. Estimated Value $2,100 - 2,200. View details and enlarged photos	Realized $2,703