How to Identify the Trade Dollar

What It Is

The U.S. Trade dollar was struck from 1873 to 1885, created specifically for use in trade with China and other parts of Asia, where its silver content and weight were meant to compete with the Mexican silver dollar. Because it was intended for export, it is heavier in silver content than the standard Seated Liberty or Morgan dollar.

Obverse (Front)

Liberty sits on a bale of cotton (rather than a plain rock), facing left, holding an olive branch and a scroll reading "LIBERTY," with the ocean and a ship visible behind her, symbolizing trade. Thirteen stars surround the design, and the date is below.

Reverse (Back)

An eagle grips three arrows and an olive branch, with "UNITED STATES OF AMERICA" and "E PLURIBUS UNUM" above and around, and a distinctive extra inscription below the eagle reading "420 GRAINS, 900 FINE," specifying its weight and silver fineness — a feature unique to this coin among U.S. dollars.

Size, Weight, Metal, and Edge

The coin is 90% silver, 10% copper, 38.1 mm in diameter, weighs about 27.22 grams (slightly heavier than the standard silver dollar to meet trade weight standards), and has a reeded edge.

Mint Marks

The mint mark, when present, sits on the reverse below the eagle, above the "420 GRAINS, 900 FINE" inscription: "S" for San Francisco, "CC" for Carson City, or no letter for Philadelphia.

Telling It Apart from Similar Coins

The "420 GRAINS, 900 FINE" text on the reverse is the clearest way to distinguish this from the Seated Liberty dollar and Morgan dollar, neither of which carries that wording. Many genuine Trade dollars also show small stamped Chinese characters ("chop marks") on the surfaces, applied by Asian merchants who tested and verified the silver at the time — these marks are a normal sign of period circulation, not damage, though heavily chopped coins are valued differently than problem-free ones.

Judging Condition at a Glance

Wear appears first on Liberty's knee and head, and on the reverse at the eagle's head and the tops of the wings. Because so many genuine trade dollars carry chop marks or were cleaned during their working life in Asian markets, finding a problem-free, lightly circulated example is less common than for other 19th-century dollars.

Authenticity Red Flags

Because of demand for certain dates and the Carson City mint mark, watch for added or altered mint marks and for cast or struck counterfeits, which often show soft, mushy detail compared to the sharp lettering and lines of a genuine coin. Chop marks themselves are usually genuine signs of period use, but a coin with obviously modern engraving tools' marks, incorrect font in the "420 GRAINS, 900 FINE" line, or a mismatched weight on a scale should be examined carefully.