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    Description

    1879 Trade Dollar, PR68 Cameo
    Natural Iridescence, None Graded Higher

    1879 T$1 PR68 Cameo PCGS. CAC. Ex: Simpson. Treasury Secretary John Sherman ordered the Mint to cease striking Trade dollars for circulation on February 22, 1878. Just five years into its production run, the Trade dollar had become problematic in domestic commerce. As the price of silver declined, business owners and others often took advantage of the falling value of the Trade dollar by paying their workers in or otherwise trying to pass off coins ostensibly valued at one dollar but in actuality worth considerably less. R.W. Julian explains in Dave Bowers' 1993 Silver Dollar Encyclopedia:

    "The domestic use of trade dollars became more of a problem in 1877 as the decline in the price of silver continued. Factory owners bought the coins at a discount and then paid them out to workers at face value. The workers in turn were forced to take a discount at those stores which would accept them and the storekeepers were victimized when they redeemed them at the few banks accepting trade dollars. Practically everyone discounted the coins although some communities solved the problem in part by setting a fixed value, usually 80 to 85 cents."



    Production and sales of Trade dollars in proof format continued regularly from 1879 through 1883. Small quantities were also struck in 1884 and 1885. The Mint manufactured 1,541 coins for collectors for this first proof-only issue. The PCGS Population Report shows the vast majority (79.5%) of certified proofs have not qualified for a Cameo designation. Less than 20% fall into the Cameo category, and only 0.5% have received a Deep Cameo assessment. This PR68 Cameo representative is tied with two others at that service for finest within this contrast category. The finest Deep Cameo submissions at PCGS are one PR66 and one PR66+ (6/21).

    The spectacular Simpson 1879 Trade dollar features lightly toned interiors with gorgeous, natural shades of violet, ocean-blue, mint-green, rose, and golden-orange color elsewhere. The delicate iridescence allows for full appreciation of the contrast that exists between the razor-sharp devices and watery, unmarked fields.(Registry values: N7079)

    Coin Index Numbers: (NGC ID# 27YR, PCGS# 87059)

    Weight: 27.22 grams

    Metal: 90% Silver, 10% Copper


    View all of [The Bob R. Simpson Collection, Part VI ]

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    Auction Info

    Auction Dates
    August, 2021
    18th-22nd Wednesday-Sunday
    Bids + Registered Phone Bidders: 23
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