-
Inventory:
1 In Stock
- Product ID: 56862
The Certified 1877-S Trade Dollar graded MS62 by PCGS represents a key example from one of the most historically significant silver coin series in United States numismatics. Authorized under the Coinage Act of 1873, the Trade Dollar was intended to bolster American participation in East Asian trade by offering a heavy, silver-rich dollar coin that could compete with the Mexican 8 Reales and other established trade coinages in the region. The 1877-S issue, struck at the San Francisco Mint, stands as a central player in this narrative, given the West Coast mint’s proximity to Pacific shipping routes and its key role in silver coinage production. In Mint State 62 condition, this certified specimen preserves much of its original brilliance and detail, offering collectors a high-quality, historically meaningful coin with superior eye appeal for the grade.
The obverse of the 1877-S Trade Dollar features William Barber’s iconic rendering of Liberty seated on a bale of merchandise, symbolizing trade and commerce. Facing left, Liberty holds a ribbon-inscribed shield with her right hand and extends an olive branch with her left toward the sea, suggesting peaceful commerce abroad. Thirteen stars representing the original colonies arc above her, with the date “1877” prominently centered below. In the MS62 grade, Liberty’s gown, shield, and the surrounding bale retain their intricate detail, though minor marks may be present on the high points or in the open fields. The coin’s luster remains intact, with light cartwheel brilliance visible when rotated under light. Any toning is likely subtle, natural, and enhances the vintage appearance of the coin.
The reverse design presents a powerful eagle, wings outstretched, holding three arrows in its left talon and an olive branch in its right—emphasizing the dual readiness for peace and defense. Across the eagle’s chest is a large shield, and the surrounding inscriptions include “UNITED STATES OF AMERICA” above and “420 GRAINS, 900 FINE” and “TRADE DOLLAR” below. These specific weight and purity markings helped assure international merchants of the coin’s bullion value, encouraging its acceptance in Asian markets. Below the tail feathers is the “S” mintmark of the San Francisco Mint. In Mint State 62 condition, the eagle’s plumage and shield details are well-struck and bold. Small abrasions or bag marks may be visible, especially in the broad open fields, but none significantly detract from the coin’s visual appeal or certified status as an uncirculated piece.
The San Francisco Mint struck 5,227,000 Trade Dollars in 1877, making this one of the more plentiful dates in the series. San Francisco, due to its proximity to Pacific trade routes, was the primary hub for Trade Dollar production, especially during the years of peak export activity. Many coins were shipped directly from San Francisco to China, where they circulated heavily and often returned bearing chop marks—Chinese merchant stamps verifying authenticity. Surviving Mint State examples without such marks are far rarer and highly prized by collectors. This PCGS-certified MS62 example is free of chop marks and retains its full mint integrity, making it a more desirable and valuable piece among Trade Dollar issues.
Each Trade Dollar was struck on a planchet composed of 90% silver and 10% copper, with a weight of 27.22 grams—heavier than the standard U.S. silver dollar. Measuring 38.1 millimeters in diameter, the coin shares dimensions with other silver dollars but distinguishes itself with its higher silver content and explicit purity markings. The Trade Dollar’s additional weight and bullion specifications were critical in encouraging its adoption overseas, particularly in the competitive markets of southern China, where coin acceptance hinged largely on silver content and consistency. San Francisco's strikes were known for their sharp detail and high-quality surfaces, and this MS62 example reflects that legacy with crisp edges, sharp rim denticles, and clear central devices.
By 1877, the Trade Dollar was facing mounting domestic challenges. Although originally intended for foreign commerce, the coin had gradually made its way into U.S. circulation, often at a discounted rate due to the falling value of silver. Many merchants refused to accept them, and their legal tender status was revoked in 1876. Despite this, production continued, especially at the San Francisco Mint, with most of the output still intended for export. The result was an increasingly complex relationship between the Trade Dollar and American commerce, as the coin became both a diplomatic tool abroad and a point of public frustration at home. These tensions would lead to the end of regular-issue Trade Dollar production in 1878, with proof-only issues continuing until 1885.
The PCGS MS62 grade places this 1877-S example at the lower end of the Mint State spectrum but still firmly in the realm of uncirculated coins. At this grade level, collectors can expect a full strike with strong luster, though minor bag marks, hairlines, or scuffs may be visible under magnification. These are often present from storage or transportation in mint bags and are typical for early silver dollars. What separates a coin at MS62 from lower grades is the sharpness of strike, the presence of undisturbed mint surfaces, and the overall balance of eye appeal and originality. This certified piece satisfies those criteria, delivering an authentic, well-preserved snapshot of late 19th-century U.S. coinage meant for global circulation.
The Trade Dollar series is beloved by numismatists for its unique role in U.S. monetary history and its short, highly collectible run of just over a decade. Type collectors often seek a well-struck example from the core production years, and the 1877-S offers an ideal balance of availability, historical context, and mint quality. It also appeals to collectors interested in the interaction of coinage and international economics, given its origin as a response to America’s growing ambitions in the Pacific trade theater. This MS62 piece offers collectors an opportunity to acquire a historic silver dollar with strong surfaces and excellent detail at a more accessible price point than scarcer dates or higher Mint State grades.
In conclusion, the Certified 1877-S Trade Dollar MS62 PCGS is a sharp and attractive example of a pivotal American silver coin designed specifically for the international stage. With bold design elements, a historically significant mintmark, and uncirculated preservation, it serves as both a collectible object and a numismatic milestone. Its connection to Pacific commerce, robust mintage, and appealing design make it a standout selection for any collection of 19th-century American coinage or silver trade pieces. As a certified MS62 coin, it offers excellent value, historical substance, and the assurance of authenticity and condition from one of the industry’s most trusted grading services.