The 1878 trade dollars have value as numismatic coins. Keep reading to learn more about these silver coins.
Specifications
Type: Trade Dollar
Year: 1878
Face Value: $1.00
Composition: 90% silver, 10% copper
Silver Weight: .7874 oz
Total Weight: 27.22 grams
Current Silver Bullion Value: $22.32
The trade dollar was made for circulation in Asia. It was made in order to compete with other dollar coins from different countries. Many of the coins that circulated throughout Asia have Oriental markings on them, referred to as chop marks. Trade dollars were legal tender in the United States.
The US minted the 1878 trade dollar with no mint mark as a proof coin, and also the 1878 CC trade dollar and 1878 S trade dollar. The mint mark, when present, can be found on the reverse side of the coin above the letter D in the word "DOLLAR".
| Series | Location | Quantity Minted |
|---|---|---|
| 1878 Proof | Philadelphia | 900 |
| 1878 CC | Carson City | 97,000 |
| 1878 S | San Francisco | 4,162,000 |
Value
This coin in circulated condition is worth at least its weight in silver. But just for reference, the silver melt value for this coin is $22.32. This melt value is calculated from the current silver spot price of $28.35 per ounce.
The 1878 trade dollar proof coin with no mint mark is worth around $1,500 in extremely fine condition. In uncirculated condition the price is around $3,500 for coins with a PR 63 grade.
The 1878 CC trade dollar is worth around $1,300 in very good condition. In very fine condition the value is around $2,500. In extremely fine condition the value is around $5,000. In uncirculated condition the price is around $16,000 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 63 can sell for around $40,000.
Lastly the 1878 S trade dollar is worth around $200 in very good condition. In very fine condition the value is around $325. In extremely fine condition the value rises to around $425. In uncirculated condition the price is around $1,000 for coins with an MS 60 grade. Uncirculated coins with a grade of MS 63 can sell for around $1,600.
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Grading System
Very good- Roughly half of the mottos "IN GOD WE TRUST" and "E PLURIBUS UNUM" are legible. The rims of the coin are distinct.
Very fine- Most of the details on Liberty's dress are visible. Most of the details on the wheat sheaf are intact.
Extremely fine- Both Liberty and the mottos look sharp. There is a small amount of wear on the rims.
MS 60 uncirculated- There are no signs of wear. The coin has luster, but there may be a few stains, abrasions, or surface marks.
MS 63 choice uncirculated- In the major focal areas there are some blemishes or contact marks. The coin's luster might not be as prominent.
PR 63 proof- This coin has reflective surfaces and only a few blemishes away from the major focal points. There are no major flaws.
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