Possibly Unique Meiji 7 Pattern Trade DollarMeiji silver Pattern Trade Dollar Year 7 (1874), Dragon with beaded circle, with legend and value around/Value in wreath, chrysanthemum above, KM-Pn24, J&V R1a, Proof 65 NGC. This is the accepted design used to strike the circulation issues of 1875, 1876, and 1877. This pattern, with the accepted design, has never been offered at public sale, to the best of our knowledge. If not unique, there are very few known. It was purchased from Capitol Coins (where Mr. Jacobs worked at the time) in 1954.
All silver yen to this point were technically "trade dollars" - only valid in trade zones - because Japan was officially on a gold standard. Silver prices were falling, so the government decided to offer trade dollars with slightly more silver. They were issued from Meiji 8 to Meiji 11, but those minted in Meiji 11 were still marked, "Meiji 10".
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