1874 T$1 MS (PCGS#7034)
June 2018 Baltimore U.S. Coins Auction
- 拍卖行
- Stack's Bowers
- 批号
- 1563
- 等级
- MS65
- 价格
- 101,373
- 详细说明
- Extraordinary Gem 1874 Trade Dollar
1874 Trade Dollar. MS-65 (PCGS). CAC. OGH.
This wonderfully original, exceptionally well preserved Gem ranks among the finest 1874 trade dollars that we have ever offered. Both sides are richly toned, the obverse with vivid pink, apricot and powder blue undertones to dominant pearl gray patina. For the reverse, mottled pewter and olive-gray patina supports subtle powder blue and salmon pink highlights. The texture is smooth and satiny and all but a few isolated design elements are sharply struck.
The United States trade dollar made its debut in 1873 with circulation strike coinage continuing on a yearly basis through 1878. Authorized by the Act of February 12, 1873, which also abolished the standard silver dollar, the trade dollar had its genesis in the 1850s with growing commercial ties between merchants in the United States and the burgeoning ports and cities in the Orient, especially China. During the late 19th century Oriental merchants preferred to conduct business using silver coins, the favored medium of exchange being Spanish-American 8 reales that had long been popular in the international market. In order to acquire these coins, however, American merchants had to pay a premium, and calls were soon heard for a domestically produced silver coin. The only one of the United States Mint's contemporary coins that came close to filling this bill was the Liberty Seated silver dollar, examples of which were used in trade with the Orient during the late 1850s, 1860s and early 1870s. As a whole, however, these coins were unsuitable for commerce with the Orient, at least partly because yearly mintages were simply not large enough to meet demand. The trade dollar replaced the silver dollar in 1873 with the specific purpose of meeting the needs of commerce with the Orient. Indeed, the new denomination was authorized at a weight standard of 420 grains, greater than the 412.5-grain silver dollar and intended to make the trade dollar more attractive in the eyes of Oriental merchants. Yearly mintages were also much higher than those of the Liberty Seated dollar, especially at those coinage facilities closest to the ports of embarkation for the Orient (the Carson City and, especially, San Francisco mints), and the trade dollar became an instant success in its intended role.
Despite its distance from the Orient, the Philadelphia Mint produced a respectable total of 987,100 circulation strike trade dollars in 1874. Virtually the entire mintage was shipped overseas, as intended, and today the 1874 is the most plentiful chopmarked trade dollar from the Philadelphia Mint. With few coins remaining stateside, it should come as no surprise that the 1874 is scarce to rare at all Mint State levels, most such pieces grading no finer than MS-64. As a solidly graded and aesthetically pleasing Gem, this example would do justice to the finest collection.
Provenance: From the Beasley Collection.
PCGS Population: 5; 3 finer (MS-67 finest).
PCGS# 7034. NGC ID: 252Z.
Click here for certification details from PCGS.
查看原拍卖信息