Coin Specifications

Category: Trade Dollars (1873-1885)
Mint: Carson City
Mintage: 124,500
Catalog: KM-108
Obverse Designer: William Barber
Reverse Designer: William Barber
Composition: Silver
Fineness: 0.9000
Weight: 27.2200g
ASW: 0.7876oz
Melt Value: $14.74 (9/16/2014)
Diameter: 38.1mm
Edge: Reeded
Numismatic specification data provided by Krause Publications NumisMaster.
Link to this coin

1873 CC T$1 MS obverse 1873 CC T$1 MS reverse


  
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Description & Analysis

The year 1873 is among the most notable in the annals of U.S. numismatics. The Coinage Act of 1873 (a.k.a. The 'Crime of '73') legislated out of existence the two cent piece, the three cent silver, and the half dime. It omitted the (Liberty Seated design) silver dollar from the list of authorized coins while introducing the silver Trade dollar, slightly increased the silver content of minor coinage (signified by the 1873-74 With Arrows silver coin subtypes), and effectively bound the United States to the gold standard. Like so many U.S. numismatic issues that began with a bang, the two cent, silver trime, and half dime ended with a whimper with the issuance of the Closed 3 proof-only two and three cents, while the half dime saw a moderate business-strike issue.

The average spot price of silver, after peaking near the end of the Civil War in 1864 at almost $3/ounce, began a long-term slide. In 1870 the average price (London fix) was $1.43/ounce, by 1880 it was $1.12. The 1890s and 1900s brought further price collapses (with a couple of temporary spikes) to well below $1.00/ounce, a price range that persisted until 1967. A chief source of the long-term slide in silver prices was the Comstock Lode. The rich veins of Nevada silver were discovered in 1859, but lode production peaked in 1876 through 1878, when silver ore worth roughly $36 million was extracted annually. Silver prices were further destabilized in the late 19th century by the widespread shift of many nations from a silver standard to a gold standard. Germany adopted gold as its standard in 1871-73 (releasing 8,000 tons of silver onto the world market) and the Latin Monetary Union (France, Italy, Belgium, and Switzerland) did so in 1873-74. The Scandinavian Union (Denmark, Norway, and Sweden) and The Netherlands followed suit in 1875-76. By the final decades of the 19th century, silver dominated only in the Far East, especially China. The Carson City Mint managed to eke out 2,300 examples of the Seated Liberty dollar and coined 124,500 Trade dollars in 1873, most of which were shipped immediately to the Orient. This date--despite having the lowest mintage of any business strike Trade dollar, with the sole exception of the 1878-CC--enjoyed virtually no demand or collector interest until the 1950s, after which the issue saw rapidly escalating prices as collectors began to finally recognize its rarity.

The 1873-CC is a well-known condition rarity in the Trade dollar series, especially in mint condition.

Description and Analysis courtesy of Heritage Auctions and may not be republished without written permission.


GRADE SUMMARY

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Price Guide

Last Updated: 8/27/2014

Click on a price to see historical prices, comparison charts and trends.

1873 CC T$1 MS
  GVGFVF4045505355586061626364656667686970
Base $ 240 325 535 800 1600 1600 2600 3350 4550 5500 8250 9750 15600 27400 56000 178500 - - - - -
$ 1750 2800 3750 4850 6200 8500 10250 - - - - - - -
NGC Price and Value Guides Disclaimer

Census

 
NGC GRADE SUMMARY

Total Graded: 128
Low Grade: PrAg
Average Grade: 55
High Grade: 65


Upcoming Auctions


Auction Prices Realized

A random selection of coins is shown below.

Images
Date
Service
Grade
Auction House
Sale / Lot
Price
9/24/2001 PCGS AU 53   Teletrade Auction 1485, 1485/Lot# 1588 $1,080.00
2/19/2007 NGC XF 40   Heritage Auctions 2007 Long Beach, CA US Coin Online Session #431, 431/Lot# 8732 $862.50
1/24/2012 NGC AU 50   Stack's Bowers The January 2012 Americana Sale, 134/Lot# 10314 $690.00
10/18/2012 NGC Details XF Details  Heritage Auctions 2012 October 18-21 ANA US Coins Signature Auction - Dallas Session(6), 1175/Lot# 9346 $440.63
3/3/2013 PCGS AU 53   GreatCollections GreatCollections Coin Auctions 03/03/2013, 64/Lot# 102709 $2,860.00
7/27/2013 PCGS   Stack's Bowers The August 2013 Chicago ANA World's Fair of Money , 192/Lot# 2765 $998.75
2/3/2014 PCGS Genuine XF   Heritage Auctions 2014 February 3 - 5 US Coins Signature Auction - New York Session(2), 1202/Lot# 4041 $1,527.50


NGC Registry

NGC Registry Score 1873 CC T$1 MS
 PrAgGVGFVF4045505355586061626364656667686970
Base500615680820106619112102227431263554408443874615557479298998133231517617214194472188724548
538636726902134719742159255832683730418544634934635982851043913940158551795820260227740
000000215925583268373041854463493463598285104391394015855179582026000
000000221628423411390742864539525471448641118811455816534187022107300
Registry Image Gallery
Grade: MS 64
Points: 8998
Owner: Jon Lorenzo
 
Grade: AU 58
Points: 4084
Owner: Whidbey Island Collection
 
View the Registry Image Gallery

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