United States 1878-S trade dollar

Jean Elsen sale 161, lot 1178

This specimen was lot 1178 in Jean Elsen sale 161 (Brussels, March 2025), where it sold for €380 (about US$495 including buyer's fees). The catalog description^[1] noted,

"ÉTATS-UNIS, AR trade dollar, 1878 S, San Francisco. (United States, silver trade dollar of 1878, San Francisco mint. Very Fine - Extremely Fine.)"

This type, struck 1873-85 in large quantities, is available in circulated condition. Its sponsors in Congress never intended it to circulate in the United States, it being a convenient method of dumping unwanted silver in China. Initially accepted there, it glutted the market and began to return to the United States, where its bullion value was now below its face value, creating a nuisance to trade. Authorities ceased mintage for circulation after 1878, but the damage was done.

Recorded mintage: 4,162,000, the last common date.

Specification: 27.22 g, 0.900 fine silver, 38.1 mm diameter, reeded edge.

Catalog reference: KM 108.

Source:

• Alexander, David T., Coin World Comprehensive Catalog & Encyclopedia of United States Coins, Sidney, OH: Amos Press, 1995.
• Breen, Walter H., Walter Breen's Complete Encyclopedia of U. S. and Colonial Coins, New York: Doubleday, 1987.
• Michael, Thomas, and Tracy L. Schmidt, Standard Catalog of World Coins, 1801-1900, 9th ed., Iola, WI: Krause Publications, 2019.
• Yeoman, R. S., and Kenneth Bressett (ed.), A Guide Book of United States Coins, 65th Ed., Atlanta, GA: Whitman Publishing, 2011.
• ^[1]Elsen, Philippe, et al., Vente Publique 161, Brussels: Jean Elsen et ses Fils S.A., 2025.

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• 1876-S trade dollar
• 1879 trade dollar
• Coins and currency dated 1878
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