Lot 3129
1883 Trade Dollar. PCGS graded Proof 66 Cameo. A blazing white gem. Pop 7; none higher at PCGS. This is a blemish-free case in point of the scarce 1883 trade dollar in this grade: sleek white in color, with mint bloom that captures the full effect of the careful preservation since it was made. In addition, the coin possesses a nice, clear-cut strike for all areas with outstanding detail at the cameo frosted devices on either side. A jewel!
As before, production was limited to Proofs in 1883: In this final year of public sales of trade dollars as singles as well as in the Proof sets. The figure of 979 Proof trade dollars fell short of the 1,039 Proofs made of other silver denominations. Horatio Burchard, who had been director of the Mint since February 1879 and who had replaced Dr. Henry R. Linderman in the post, considered the trade dollar to be a nuisance and an aggravation, even though business strikes were no longer being coined. In his annual report Burchard noted in part: "Probably from five to seven millions of these coins are now held in the country, mostly in the mining and manufacturing regions of Pennsylvania and contiguous states, and in the vicinity of New York, where they have been paid to workmen and laborers, and by them paid to and received from tradesmen in those localities."
Burchard recommended that the denomination be abolished. Evidently, the small demand for Proofs did not yield enough profit to offset the costs of planchets, dies, and striking. 1883 was to be the last official year of issue (the 1884 and 1885 dated trade dollars are considered clandestine issues and were not authorized) (PCGS # 87063) .
Estimated Value $10,000 - 12,000.
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| Realized $14,375 |
