1874-CC Trade Dollar. MS-64 (NGC).Sharply struck over all but a few isolated high points, this exceptional 1874-CC trade dollar is highly lustrous with an intense satin finish. Generally brilliant, a very attractive blush of pale golden iridescence is noted the left reverse periphery. This significant condition rarity will appeal to advanced trade dollar specialists and Carson City Mint enthusiasts alike.<p>The United States trade dollar made its debut in 1873 with circulation strike coinage continuing on a yearly basis through 1878. Authorized by the Act of February 12, 1873, which also abolished the standard silver dollar, the trade dollar owes its existence to Comptroller of the Currency John Jay Knox, principal architect of that omnibus coinage act. During a visit to San Francisco in 1870, Knox became aware of the China trades strong influence on the economy of the California port city. That trade, in turn, was heavily dependent on Mexican dollars, which were far more plentiful than American silver dollars at the time and more acceptable to Chinese merchants due to their slightly higher weight and greater silver content. The San Francisco Mint had produced 20,000 silver dollars in 1859 at the request of local merchants, and the coins proved successful in trade with the Orient despite their disadvantages relative to Mexican dollars. The experiment was not repeated until 1872, however, when the 1872-S dollar emerged with an even smaller mintage of 9,000 pieces. Philadelphia Mint Liberty Seated dollars were also widely exported to the Orient beginning in the early 1840s but, again, such pieces were not plentiful or as popular with Chinese merchants as their Mexican counterparts.<p>The trade dollar replaced the silver dollar in 1873 with the specific purpose of meeting the needs of commerce with the Orient. Indeed, the new denomination was authorized at a weight standard of 420 grains (greater than the 412.5-grain silver dollar), intended to make the trade dollar more attractive to Oriental merchants. Yearly mintages were much higher than for the Liberty Seated dollar, especially at Carson City and, especially, San Francisco. The trade dollar became an instant success in its intended role.<p>After delivering 124,500 pieces in 1873, the Carson City Mint stepped up coinage in 1874 with a mintage of 1,373,200 trade dollars. Most examples were shipped to China, as intended, where they circulated widely based on the multitude of chopmarked examples. Smaller quantities of 1874-CC trade dollars remained stateside since the denomination enjoyed legal tender status within the United States until demonetized through the Act of July 22, 1876. Contemporary numismatic interest in this denomination was virtually nil, however, with few examples preserved in Mint State. In the finest grades, in fact, the 1874-CC is one of the rarest issues of its type. This is a superior quality survivor in terms of both surface preservation and eye appeal, and is sure to sell for a strong bid.NGC Census: 9; 4 finer in this category (all MS-65).
