1877 T$1 Trade Dollar Silver NGC AU Details Graffiti About Uncirculated Coin

Product Description

An 1877 (Philadelphia Mint) Trade Silver Dollar graded About Uncirculated (AU) Details (Graffiti) by NGC. This piece displays an original orangey/purple and grey silver color/tone, light visible luster, graffiti appears on the obverse atm around 11 o'clock right by the star closest to Liberty's head and excellent visible details. The total mintage for this date & mint mark: 3,039,200. Please view our photos for additional information and ask any questions prior to purchase.

The United States trade dollar was a one dollar silver dollar minted from 1873 to 1885. Since 1873, the silver dollar used for American commerce had ceased production and the trade dollars inception was exclusively to compete with foreign coins of similar weight and size (e.g. Mexican 1 Peso). When production began in 1873, a majority of the pieces struck were sent to East Asia for trade. However, the law of 1873 regarding silver coinage had no specific standards, and bullion producers of the time began to convert their silver into trade trade dollars which made their way into American commercial trade channels. Frustrated merchants then began to trade the one dollar pieces for less than face value. Furthermore, by 1874 official complaints had reached the mint about poorly struck pieces. William Barber who had created both the obverse and reverse designs lowered the relief so that the highest points of the coin would be struck sharply.