NOT SOLD (BIDDING OVER)
0.00USD+ applicable fees & taxes.
This item WAS NOT SOLD. Auction date was 2002 Feb 19 @ 18:00UTC-08:00 : PST/AKDT
Trade Dollars 1882 NGC graded Proof 63. <b>Some medium purple gray toning highlights this choice, well preserved Trade Dollar, a coin whose devices are well frosted. Against the mirror background, the satin-white frost gives it a lovely cameo-like quality, the kind that endears itself to every collector young or old. Trade Dollars were minted for circulation in 1873-78, then from 1879 to 1883 only Proofs were manufactured for sale to collectors. This is one of the scarcer Proof-only dates, with mintage at the low end, 1,097 pieces.</b> Silver Dollars had never been popular with Easterners, who stubbornly refused to carry such bulky coins around with them in their pockets and change purses. And yet, the Mint kept right on striking them. That is, they were made annually until 1873, when Congress passed the Act of 1873 demonetizing Silver Dollars (at the time, Seated Dollars). Instead, a new Trade Dollar was substituted. The Trade Dollar was meant to circulate in the Far East, specifically in the China trade, which then was burgeoning. However, quick-witted speculators soon began to buy them up at their bullion value. (Since Trade Dollars had never been monetized they could not technically be placed into circulation in the States by banks or the Treasury Department.) These they then sold to jobbers who turned around and wholesaled them to employers. The employers offloaded them on their employees, making a small, but useful profit on the transaction! Imagine the stink that would arise if <I>your <I>employer were to pay your wages in, say, unspendable Canadian "Loonie" dollars, and you get some idea of the hassle US Trade Dollars presented. Congress finally solved the mess in 1887 when it canceled the issue's authorization, ceased production, and began withdrawing them from circulation. <p align="center">Superior Galleries was founded in 1929 and has been a leader in
the numismatic auction business since 1971.</p> <p align="center"><b>Consignments wanted for June 2 & 3, 2002 Pre-Long Beach Sale.</b></p> <p align="center"><b>Call Steve Deeds</b> at (800) 421-0754 ext 230.</p>
Auction Location:
United States
Previewing Details:
2/11-2/15 from 9am-5:30pm by appointment only; 2/16-2/17 from 9am-5:30pm no appointment necessary
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