The United States trade dollar was a dollar coin issued by the US Mint to rival other enormous silver trade coins that were, at that point, well known in Asia. The thought initially occurred during the 1860s, when the cost of silver started to decrease because of expanded mining endeavors in the western United States. Marked into law as the Coinage Act of 1873, a bill giving providing the issuance of the trade dollar was put before Congress and confirmed. The bill made trade dollars US legal tender for up to $5. Various designs were considered for the trade dollar, and the final by William Barber were chosen.