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: $11.81 (7/8/2015)
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: 3/17/2015

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

1873 CC T$1 MS
  GVGFVFXF5053555861626364656667686970
Base $ 240 325 535 800 1600 2600 3350 4350 5700 9750 17000 24000 57500 178500 - - - - -
$ 1750 - 3750 4850 6200 10250 19000 - - - - - -

The World Coin Price Guide is independently compiled by Krause Publications’ NumisMaster. NGC makes this information available to its website visitors as a free service, but in no way does the information provided represent NGC’s official opinion or policy. For example, varieties listed in the World Coin Price Guide may not necessarily be recognized by NGC. Please contact NGC Customer Service with any questions.

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Census

 
NGC GRADE SUMMARY

Total Graded: 129
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
3/9/2008 NGC AU 58   Teletrade Auction 2500, 2500/Lot# 2335 $3,696.00
8/11/2011 PCGS MS 63   Heritage Auctions 2011 August Chicago Signature US Coin & Platinum Night Auction Session(5), 1158/Lot# 7273 $21,850.00
8/15/2011 NGC AU 50   Stack's Bowers The August 2011 Chicago ANA World's Fair of Money Auction, 115/Lot# 3559 $690.00
1/29/2012 NGC Details XF Details  Goldberg January 29 - February 1, 2012 The Pre-Long Beach Auction, 67/Lot# 779 $414.00
9/25/2013 NGC Details AU Details  Heritage Auctions 2013 September 25 - 29 US Coins Signature Auction - Long Beach Session(8), 1189/Lot# 8680 $616.88
5/25/2014 NGC Details UNC Details  GreatCollections GreatCollections Coin Auctions 05/25/2014, 183/Lot# 196863 $3,042.21
6/9/2014 NGC   Stack's Bowers iAuction 3485, 6034/Lot# 20575 $346.63
2/26/2015 PCGS AU 58   Heritage Auctions 2015 February 26 - March 1 PNG Dallas Invitational US Coins Signature Auction - Dallas Session(1), 1218/Lot# 3155 $3,290.00


NGC Registry

NGC Registry Score 1873 CC T$1 MS
 PrAgGVGFVF4045505355586061626364656667686970
Base500615680820106619112102227431263554408443874615557479298998133231517617214194472188724548
538637727902134819752159255832693731418544634935635982851044013941158551795820260227740
000000215925583269373141854463493563598285104401394115855179582026000
000000221728423411390742864539525471448642118811455816535187032107400
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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