Coin Specifications

Category: Trade Dollars (1873-1885)
Mint: Philadelphia
Mintage: 455,000
Obverse Designer: William Barber
Reverse Designer: William Barber
Composition: Silver
Fineness: 0.9000
Weight: 27.2200g
ASW: 0.7876oz
Melt Value: $19.89 (7/24/2021)
Diameter: 38.1mm
Edge: Reeded
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1876 T$1 MS obverse 1876 T$1 MS reverse
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Description & Analysis

A new obverse hub was introduced this year. It is distinguished easily by the lower end of Liberty's banner, which points to the left on Type 1 dies and downward on Type 2 dies. Less obvious is that Liberty's outstretched right hand, which formerly seemed to have just four fingers, has had a tiny addition made to it. The Type 1 obverse was paired with both the Type 1 and Type 2 reverse dies, while the new obverse is known only with the new reverse. This last combination is quite scarce for 1876(P).

This is perhaps the most common Philadelphia Mint trade dollar issue in Mint State, and this is certainly true at the higher grades. It's quite possible that a certain number were purchased and preserved by tourists who traveled to Philadelphia that year to attend the nation's centennial exposition. The U. S. Mint was a popular destination that summer, as evidenced by an obvious boost in proof coin sales.

Despite the devaluation of the greenback currency issued since 1862, silver coins had continued to circulate in the western states and territories throughout the 1860s and '70s, as paper money was shunned there. But for Americans living in most of the nation, the year 1876 witnessed the welcome return of silver to general circulation, since the falling price of silver permitted federal notes to achieve value parity with silver coins.

Trade dollars had been granted legal tender up to five dollars when legislated in 1873, but they had mostly been exported to the Far East, as intended. In this year, however, the drop in silver prices was sufficient to prompt a huge advance in trade dollar production for the primary purpose of placing them into circulation at their face value. Since the coins were struck to order at their bullion value, this resulted in an instant profit. To combat this abuse, Congress repealed the trade dollar's legal tender status on July 22, 1876, but this simply aggravated the situation. Now, trade dollars could be refused in commerce, with those holding them having no recourse but to sell them to bullion brokers at a discount. Eventually, this would lead to the coin's early demise.

GRADE SUMMARY

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Price Guide

Last Updated: 6/17/2019

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

1876 T$1 MS
  GVGFVFXF505355586061626364656667686970
Base $ 125 145 180 280 340 440 460 550 785 1175 1250 1430 2000 3400 10000 27500 73500 - - -
$ - - 485 585 840 - 1350 1700 2500 4500 14000 30000 - -
1876 T$1 MS PL
  GVGFVFXF505355586061626364656667686970
Base $ - - - - - - - - 1450 - - - - 5250 - - - - - -

NGC Price and Value Guides Disclaimer

Disclaimer: The prices listed in the various NGC Price and Value Guides are compiled from a number of independent, third party sources in the numismatic community which NGC believes to be reliable. Prices provided are averages, not specific prices for individual coins. Further, because these prices are only updated from time to time, they do not reflect short term pricing trends, which are quite common and are often quite dramatic, given the volatile nature of the collectible coin marketplace. This is especially true for rare coins, where there are fewer sales and greater variations in sale prices. For all of these reasons, the prices in these guides are designed to serve merely as one of many measures and factors that coin buyers and sellers can use in determining coin values. These prices are not intended, and should not be relied upon, to replace the due diligence and — when appropriate — expert consultation that coin buyers and sellers should undertake when entering into a coin transaction. As such, NGC disclaims all warranties, express or implied, with respect to the information contained in the NGC Guides. By using the NGC Guides, the user agrees that neither NGC nor any of its affiliates, shareholders, officers, employees or agents shall have any liability for any loss or damage of any kind, including without limitation any loss arising from reliance on the information contained in the Guides.

Census

 
NGC GRADE SUMMARY

Total Graded: 475
Low Grade: PrAg
Average Grade: 61
High Grade: 66

The chart showing PrAg series, G series, VG series, F series, VF series, 40 series, 45 series, 50 series, 53 series, 55 series, 58 series, 60 series, 61 series, 62 series, 63 series, 64 series, 65 series, 66 series.
NGC CENSUS DETAIL Last Updated: 7/20/2021 1876 T$1 MS
 PrAgGVGFVF4045505355586061626364656667686970Total
Base1-351211181213243410456391107155----469
--------------1-------1
------------1211-1----6
-----------------------
Total1-351211181213243410466593108156----476
 0%-1%1%3%2%4%3%3%5%7%2%10%14%20%23%3%1%---- 
1876 T$1 MS PL
 PrAgGVGFVF4045505355586061626364656667686970Total
Base----------1--221------6
-----------------------
---------------2------2
-----------------------
Total----------1--223------8
 ----------13%--25%25%38%------ 

NGC Registry

NGC Registry Score 1876 T$1 MS
 PrAgGVGFVF4045505355586061626364656667686970
Base265336456502575692747798113513201557169717532079264831985621706210263117961349215362
289376471526614710764910119713991604171618622269283140066101812910774123611411516130
0000007649101197139916041716186222692831400661018129107741236100
00000078110231258147816501734197024583015481365829196112851292700
Registry Image Gallery
Grade: MS 66
Points: 7062
Owner: Jon Lorenzo
 
Grade: MS 65
Points: 5621
Owner: T. J. Newman Collection
 
View the Registry Image Gallery

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NGC Auction Central Disclaimer

NGC Auction Central Disclaimer

Disclaimer: The auction prices realized listed in the NGC Auction Central are compiled from a number of independent, third party sources in the numismatic community which NGC believes to be reliable. The auction data listed by NGC may occasionally contain typographical or input errors that can result in incorrect prices realized appearing on the NGC website. Therefore, the prices realized listed in NGC Auction Central are designed to serve merely as one of many measures and facts that coin buyers and sellers can use in determining coin values. These prices are not intended, and should not be relied upon, to replace the due diligence and – when appropriate – expert consultation that coin buyers and sellers should undertake when entering into a coin transaction. As such, NGC disclaims all warranties, express or implied, with respect to the information contained in the NGC Auction Central. By using the NGC Auction Central, the user agrees that neither NGC nor any of its affiliates, shareholders, officers, employees or agents shall have any liability for any loss or damage of any kind, including without limitation any loss arising from reliance on the information contained in the NGC Auction Central.