Prooflike US Type Set
T$1 TRADE (1873-1885)


Obverse
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Reverse
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Coin Details

  

Set Details
Origin/Country: United States
Design Description: TRADE DOLLARS
Item Description: T$1 1876
Grade: NGC MS 63 PL
Owner: physics-fan3.14
 
Winning Set: Prooflike US Type Set
Date Added: 2/5/2013
Research: See NGC's Census Report for this Coin

Owner's Description

Total Graded: 7182
Total Prooflike: 25
Percentage: 0.3481%

The Trade dollar is sometimes found semi-prooflike. Almost all of these are from old proof dies. Several dates have one or two graded, but the 1876 is by far the most common with 7 graded. The 1877 and 1878S are the next most common. To find one with full, reflective mirrors of sufficient depth to be considered fully prooflike is uncommon, but quite attractive when you do. They are uncommon, but available with some patience.

My coin is a fantastic example of the series. I search Ebay daily for coins which I might want to add to my collection, and one day a dealer listed 3 Prooflike Trade Dollars. First, he had an 1873 in 62PL (which he wanted way too much money for). The 62 is a bit lower grade than I want for my set, although it is the only example graded for the date (not as big of a concern to me, as a type collector). Next, he had an 1874 in 63PL (again, the only one graded for the date), which again he wanted way too much money for. But then I saw he had an 1876 in 63PL, which he had priced quite reasonably. Comparatively speaking, the 1876 is by far the most available in PL (with a total of 7 graded, the highest being 64+). I thought this coin might be suitable for my set, so I negotiated a little, and got it for $2700.

The coin finally came today, and it is spectacular! I've seen plenty of business strike Trade Dollars, and I've seen plenty of proof Trade Dollars (with cameos and such) but before this coin I hadn’t seen too many prooflike Trade dollars in hand. This PL dollar is magnificent! The coin has full mirrors, with plenty of flash, and stunning cameo contrast. Being a 63, there are quite a few marks but none are really that severe except for just to the left of the eagle (there are also a few wispy hairlines that would go unnoticed on a regular lustrous field, but are obvious on these mirrors - always the curse of a prooflike coin). I’m trying to get everything in at least the grade of 64, because lower grade means more hairlines and marks which tend to impede the mirrors (which are the focus of this set.) There is a spot in between AM, but it is very minor. The strike is not hammered, but it is pretty good. The cameo contrast is strong and bold, and creates a beautiful effect with the gorgeous mirrors. There is a light skin, which means it has almost certainly been dipped at some point in the past. On prooflike coins, toning can either be very attractive, or it can serve to impede the mirrors. Regular business strike coins I usually dislike the dipped look on, but with prooflike coins I would prefer to have clear and unimpeded mirrors rather than having haze. Overall, this coin is a very solid 63, maybe a 63+. I am very proud to add this coin to my set.

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