Despite the demonetization of the trade dollar, bullion producers continued to place the coins into the American market, resulting in an estimated seven million coins circulating within the United States, of which more than four million were placed in circulation in 1877.
Who was the creator of the trade dollar?
When the price of silver plummeted, the legal tender status was revoked. After 1878, the series was only struck in limited quantities in proof format. The Trade Dollar was designed by William Barber and was loosely based on the design of contemporary silver coins in circulation designed by Christian Gobrecht.
When was the US trade dollar made legal tender?
Trade dollar (United States coin) A bill providing in part for the issuance of the trade dollar was eventually put before Congress, where it was approved and later signed into law as the Coinage Act of 1873. The act made trade dollars legal tender up to five dollars. A number of designs were considered for the trade dollar,…
