Most genuine Trade dollars are worth about $200 to $350 in circulated condition. Every Trade dollar contains 0.7874 troy ounces of silver.
That melt content sets the floor, and collector demand does the rest. The Trade dollar was struck from 1873 to 1885 for the China trade, holds more silver than any other U.S. dollar of its era, and is also one of the most counterfeited U.S. coins — so in this series, authenticity is worth as much as grade. This guide covers the silver content, the key dates, and how to spot the fakes. Value ranges below are approximate and were checked on November 1, 2026; individual coins vary with grade and certification.
Trade Dollar Quick Facts
The Trade dollar was America’s answer to the Mexican peso, which dominated trade in East Asia. Congress authorized a deliberately heavy silver dollar — 420 grains, against 412.5 grains for the standard Seated Liberty dollar — so American merchants could compete coin-for-coin in Chinese ports. The design, by William Barber, shows Seated Liberty seated on a bale of merchandise, facing left toward the Orient rather than right as on the rest of the Seated Liberty coinage. When falling silver prices made the coins profitable to spend at home, Congress revoked their legal-tender status in 1876 — the only U.S. coin ever demonetized that way — and circulation strikes ended in 1878. Proofs for collectors continued through 1883, with the clandestine 1884 and 1885 proof rarities struck after that.
| Specification | Detail |
|---|---|
| Years struck | 1873–1878 for circulation; proofs 1873–1885 |
| Composition | 90% silver, 10% copper |
| Weight | 27.22 g (420 grains) |
| Actual silver weight | 0.7874 troy oz |
| Diameter | 38.1 mm |
| Designer | William Barber |
| Mints | Philadelphia, San Francisco (S), Carson City (CC) |
| Mintmark location | Reverse, below the eagle, above the D in DOLLAR |
Trade Dollar Melt Value: The Formula
A Trade dollar contains 0.7874 troy ounces of pure silver, so melt value is 0.7874 × the current silver spot price. At the November 1, 2026 spot price of $49.25 per troy ounce, melt value is $38.78 — yet even a worn common date trades around $200, more than five times melt, because so many survivors are damaged, chopmarked, or fake that problem-free genuine coins are genuinely scarce. The Morgan dollar that replaced it in 1878 carries less silver (0.7734 oz); our Morgan dollar value guide covers that successor series.
Data by Bullion Price Check — melt value calculated November 1, 2026 (data as of 2026-11-01T13:56:28+00:00), at a silver spot price of $49.25 per troy ounce.
Trade Dollar Key Dates
| Date / Mint | Mintage | Why It Matters (approximate value behavior) |
|---|---|---|
| 1878-CC | 97,000 | The key circulation strike. Roughly $575 or more in Good condition, and thousands of dollars in mint condition. |
| 1873-CC / 1877-CC | 124,500 / 534,000 | The scarcer Carson City issues after 1878-CC. Both carry strong premiums over common dates in every grade. |
| 1875-S/CC | Included in 1875-S mintage | A mintmark-over-mintmark variety (an S punched over a CC) that variety collectors pay a clear premium for. |
| 1879–1883 proofs | About 900–1,100 per year | Proof-only years sold to collectors. Genuine examples generally start in the low thousands of dollars. |
| 1884 proof | 10 struck | A clandestine rarity unknown to collectors until 1908. Examples are six-figure-class coins. |
| 1885 proof | 5 struck | The rarest Trade dollar. Examples have sold in the multi-million-dollar class. |
Many Trade dollars carry chopmarks — small Chinese merchant stamps punched into the surface in Asia to certify the coin’s silver. Chopmarks prove a coin actually did the job it was made for, and a small collector following prizes honest chopped examples, but in the general market a chopmarked coin trades at a discount to a clean coin of the same date and grade. Heavy chops, graffiti, holes, and cleaning all pull a Trade dollar back toward the bottom of its value range regardless of date.
The Counterfeit Problem: Read This Before You Buy
The Trade dollar is among the most counterfeited of all U.S. coins, and modern fakes can be struck in real silver at close to the correct weight. Three checks catch most of them. First, weigh the coin: a genuine Trade dollar weighs 27.22 grams, and a coin that is grams light or heavy is not genuine, whatever it looks like. Second, check the details: fake dies soften Liberty’s fingers, the olive branch, and the lettering, and many fakes carry a wrong or blobby mintmark. Third, buy certified or guaranteed: for any Trade dollar priced at key-date money, a PCGS or NGC holder — or a dealer authenticity guarantee in writing — is the standard of care in this series. A raw, uncertified rarity offered well under market is a warning sign, not a bargain.
Shop Silver Dollars and Large Silver Coins
Trade dollars themselves trade on the collector market. The coin that replaced them — the Morgan dollar, struck from 1878 — is a staple of our in-stock inventory:
- 1878–1904 Morgan Silver Dollar – AU+ — the dollar that replaced the Trade dollar in 1878
- 1921 Morgan Silver Dollar – BU — the final year of the Morgan series
Checked November 1, 2026: both products above were in stock at the time of writing.
Frequently Asked Questions
How much is a Trade dollar worth?
Most genuine Trade dollars are worth about $200 to $350 in circulated condition. The 1878-CC key date starts near $575 in Good, proof-only dates start in the low thousands, and the five 1885 proofs are multi-million-dollar coins.
How much silver is in a Trade dollar?
A Trade dollar contains 0.7874 troy ounces of pure silver. The coin weighs 27.22 grams and is 90% silver — more silver than a Morgan dollar’s 0.7734 oz.
What is a Trade dollar’s melt value?
Melt value equals 0.7874 multiplied by the silver spot price. At $49.25 spot on November 1, 2026, that is $38.78 — far below the roughly $200 a genuine circulated coin trades for, because collector demand and widespread counterfeiting keep problem-free genuine coins scarce.
Why were Trade dollars demonetized?
Congress revoked the Trade dollar’s legal-tender status in 1876 because falling silver prices made the coins worth more as domestic spending money than as trade coinage, flooding U.S. commerce with a coin meant for export. It remains the only U.S. coin demonetized in that way; a brief 1887 redemption covered undamaged pieces.
Are chopmarked Trade dollars worth less?
Yes, in the general market a chopmarked Trade dollar trades at a discount to a clean coin of the same date and grade. A small group of specialists collects honest chopmarked examples, but heavy chops, graffiti, or cleaning reduce value further.
How can I tell if a Trade dollar is fake?
Weigh it first: a genuine Trade dollar weighs 27.22 grams. Then check for soft details and a wrong-looking mintmark, and for any expensive coin, require PCGS or NGC certification or a written dealer authenticity guarantee.
Educational content only — not financial advice.