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The Certified 1875-S Trade Dollar graded XF45 by PCGS is a highly collectible mid-grade example of a historic American silver coin series created specifically for foreign commerce. Struck at the San Francisco Mint during the second year of Trade Dollar production, this coin played a practical role in U.S. economic expansion while showcasing some of the most elegant engraving of the 19th century. With a grade of Extra Fine 45, this example retains much of its original detail and visual appeal, including visible hair strands, facial features, and sharp elements in both the obverse and reverse designs. PCGS certification ensures its authenticity and confirms that the coin is free of problems such as cleaning or damage.
The Trade Dollar was authorized by the Coinage Act of 1873, intended to compete with other silver coins—particularly the Mexican peso and the Spanish 8 reales—in Asia's booming trade markets. U.S. merchants and the federal government sought to establish a consistent silver coin to circulate in places like China and Southeast Asia, where silver was widely accepted. The coins were legal tender within the United States for amounts up to $5 until 1876, after which their legal tender status was revoked due to concerns over abuse and overproduction. As a result, many Trade Dollars were exported or later melted, making original survivors like this one highly collectible.
The obverse of the 1875-S Trade Dollar features the stately figure of Liberty seated on a bale of goods facing left, symbolizing American commerce. She holds an olive branch in her extended right hand and rests her left hand on a bundle of grain. Liberty’s classical robes and flowing hair are beautifully detailed, even in an XF45 example. The word “LIBERTY” is inscribed on a ribbon across the shield, and thirteen stars encircle the upper portion of the coin. The date “1875” appears clearly at the bottom. In this grade, Liberty’s facial features, olive branch, shield details, and folds in her gown are well-defined, with only moderate wear on the highest points.
The reverse presents a heraldic eagle with outstretched wings, clutching three arrows in one talon and an olive branch in the other—symbols of war and peace. Above the eagle are the words “UNITED STATES OF AMERICA,” and beneath it is the unusual inscription “420 GRAINS, 900 FINE,” a reference to the coin’s exact silver weight and fineness. Below this is the denomination “TRADE DOLLAR,” and the “S” mintmark for San Francisco appears just above the “D” in “DOLLAR.” In XF45, the eagle's feathers are mostly intact with strong details on the wings and shield, and the arrows and olive branch remain visible. The legends are bold, and the coin retains appealing natural toning and smooth, honest wear.
The 1875-S Trade Dollar had a substantial mintage of 4,487,000 coins, making it the highest mintage Trade Dollar from the San Francisco Mint. However, most of these coins were exported to China and surrounding regions and saw extensive circulation or were melted down. Many of the surviving pieces exhibit chop marks—Chinese merchant punches used to verify authenticity—which are fascinating but reduce a coin’s desirability to traditional collectors. Certified examples like this PCGS XF45 specimen are preferred for their clean surfaces and undisturbed U.S. Mint details, free from post-mint modifications or impairments.
PCGS’s assignment of the XF45 grade indicates that the coin shows light to moderate wear over high points but retains almost all major design elements. It is the highest grade in the Extra Fine category and borders on About Uncirculated status. Luster may be minimal or limited to protected areas near the devices and rims, but the strike remains strong, and the overall appearance is attractive. Collectors value this grade for its affordability relative to Mint State examples while still offering a great deal of visible detail and pleasing aesthetics. PCGS encapsulation further assures the coin’s authenticity and stability for long-term ownership.
Coins like the 1875-S were essential to U.S. foreign trade operations, especially during a time when gold was the domestic standard and silver trade coins circulated internationally. San Francisco, located on the Pacific coast, was a natural hub for producing Trade Dollars due to its proximity to Asian markets and abundant access to silver. Many 1875-S coins were struck specifically for export, which explains why so few remain in original, problem-free condition within the U.S. numismatic community. Collectors prize examples like this XF45 specimen as survivors of a vital but often overlooked chapter in U.S. monetary history.
The design itself, created by William Barber, is considered one of the most graceful of all U.S. coinage. The image of Liberty as a symbol of commercial diplomacy and the unusual inclusion of precise weight and fineness on the coin’s reverse make Trade Dollars particularly fascinating to numismatists. They represent a purposeful deviation from standard coinage norms, tailored specifically to the demands of foreign markets. Their exotic history, export-focused production, and susceptibility to chop-marking only enhance the desirability of clean, well-struck, and certified examples like this one.
This PCGS-certified 1875-S Trade Dollar in XF45 condition is ideal for a collector building a mid-grade U.S. type set, a Trade Dollar date-and-mint collection, or a display of 19th-century American commercial coinage. Its attractive wear, problem-free surfaces, and historical context give it tremendous appeal at a fraction of the cost of Mint State examples. It also stands out for its ties to both American economic expansion and international commerce during the post–Civil War era, offering collectors a tangible link to the global ambitions of the United States in the 19th century.
The Certified 1875-S Trade Dollar graded XF45 by PCGS is a striking mid-grade example of a historically important, beautifully designed, and relatively scarce U.S. silver coin. With its sharp detail, even wear, and PCGS-certified assurance, it offers a rewarding addition to any serious collection of classic American coinage—an enduring symbol of trade, diplomacy, and the artistry of 19th-century U.S. Mint craftsmanship.