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Heritage Auctions January 2022 $1,897,500 1927 $20 United States Morse Heritage Auctions: November 2005 $1,880,000 1804 Class III Silver Dollar United States Berg, Garrett Stack's Bowers: August 2014 $1,880,000 1879 Quintuple Stella J-1643 Pattern United States Carter, Trompeter Legend May 2016 $1,840,000 1873 No Arrows 10C United States
The United States trade dollar was a dollar coin minted by the United States Mint to compete with other large silver trade coins that were already popular in East Asia. The idea first came about in the 1860s, when the price of silver began to decline due to increased mining in the western United States .
The Morgan dollar is a United States dollar coin minted from 1878 to 1904, in 1921, and beginning again in 2021 as a collectible. It was the first standard silver dollar minted since the passage of the Coinage Act of 1873, which ended the free coining of silver and the production of the previous design, the Seated Liberty dollar.
The Seated Liberty dollar was a dollar coin struck by the United States Mint from 1840 to 1873 and designed by its chief engraver, Christian Gobrecht.It was the last silver coin of that denomination to be struck before passage of the Coinage Act of 1873, which temporarily ended production of the silver dollar for American commerce.
The American trade dollar therefore had to contain more silver, at 420 grains of 90% fine silver, fine content 378.0 grains (24.49 g), or 0.44 g more fine silver than the regular circulation Seated Liberty Dollars and Morgan Dollars. Most trade dollars ended up in China during their first two years of production, where they were very successful.
The Quarter-Dollar, Half-Dollar and Dollar coins were issued in the copper 91.67% nickel 8.33% composition for general circulation and the Government issued six-coin Proof Set. A special three-coin set of 40% silver coins were also issued by the U.S. Mint in both Uncirculated and Proof.
Public dissatisfaction with the newly-issued Morgan dollar led the Mint's engravers to submit designs for the smaller silver coins in 1879. [8] [9] Among those who called for new coinage was editor Richard Watson Gilder of The Century Illustrated Monthly Magazine.
The price of silver continued to fall—the silver in a dollar in the new metric-weight subsidiary silver coins was worth only $.75 by mid-1876, though the price recovered some after that. [86] In early 1875, Congress passed a bill for the resumption of specie payments (that is, in gold and silver coin)—effective in 1879. [87]
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