Counterfeit trade dollars have pretty much flooded the market over the past decade.  Buyers of trade dollars had better know what they’re buying, and if you don’t know how to tell a counterfeit from the real thing you are best off just buying coins graded by PCGS, NGC or another recognized service that certifies the authenticity of the coin.  Here is a listing of a number of points you need to consider while starting to build your trade dollar collection.

• Buying on Ebay is a sure way to buy a fake, if you must buy on ebay buy PCGS, NGC or ANACS certified coins and even then the certification might be fake.
• Until you can become an expert in identification of counterfeits, buy certified coins from reputable dealers.
• Even when you can tell the difference, if you’re buying online, only buy certified coins from reputable dealers.
• Today’s counterfeit is much higher quality than yesterdays cast slugs.  We haven’t seen one yet that has fooled PCGS, NGC or ANACS, but some people think it’s only a matter of time.
• For some counterfeiters, it is easier to make a counterfeit slab than it is to make counterfeit coins.  Even when purchasing PCGS, NGC, and ANACS certified coins, be sure you deal with a reputable source or you may end up with a counterfeit coin encased in a counterfeit slab.
• Ask someone who knows better before buying, and if you don’t know an expert find one on a community website like CoinTalk.

In conclusion, it is such a minefield in this market that you absolutely must put some time up front into learning the field or you will loose hundreds, if not thousands, of dollars buying fake coins.

Post from: Trade Dollars

Post from: Trade Dollars

The term could be mystifying. Some use the term counterstamp and some say countermark. And there are people who say that neither applies since both words should reserved for government punches.

History

Gregory G. Brunk, in his American and Canadian Countermarked Coins, identifies three periods of counterstamping activity. The first extensive period came during the hard time era. The greatest period of American stamping occurred just before and just after civil war. The final period of substantial activity happened during the late 1870’s and continued through early 1880’s.

Now its illegal to do stamping of advertising on coinsm, and seemed to have died out in the United States about 1880 and in Canada 1920.

Chinese characters in counterstamps

When trade dollars were first circulated in the Orient, many of them were chopmarked with Chinese characters. You can find these marks, stamped into the obverse and/or reverse of the coin. These chopmarked pieces served Chinese intended purpose and it was actually circulated their. The Chinese characters where imprinted or stamped with punches o the surface of the coin. This punches indicates that the coins are original and of proper weight.

F.M Rose the author of the book “Chopmark” found the following meanings which he has taken from a variety of coin types. Family Names – academy, arrow, blue, Buddha, Chiang,commodity, dollar, fat, forever, husband, immortal, Jen, master, scholar, silver, speech, star, tendon, Tung. Siamese banker – wealth, wood, and Yong Kim Hong.

He points out that the chopmaking was a time honored tradition in china, especially in Hong Kong, where it was legally recognized. Some of the coins where heavily chopmarked and they became out of shape which resulted in loosing its design.

Post from: Trade Dollars

The trade dollars were minted in Philadelphia, Pennsylvania, Carson City, and San Francisco from 1873 to 1885. More were minted in San Francisco as it was very near to the silver source. William barber, the mints chief engraver designed the coin which is composed of 90%silver, 10% copper and 420 grains in weight. The chopmarks are there to exhibit the originality and authenticity of the coins produced and used.

The U.S. trade dollars are facing some serious issues nowadays. Various qualities of U.S. trade dollars are found in china and made in china. The coin collectors are warned about it. They are advised to buy the coins from the known authentic source. The certified dealers are there to sell the coins and the collectors are asked to purchase from them to avoid the problems of fake. There is an existing fact which is quite astonishing that 90% of all the U.S. Trade dollars are fake (on Ebay). The good part of it is that the fake coins can be detected. The main major ways to deduct the fake coins are

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There will be ladies head on the coin. The ribbon curls behind her head have holes in it in which the metal was chipped out of the dies.
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Note the eagle in the coin. Its eyes will be full.
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Note the rim. The reeds on the rim will be close together.
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The fake coins look worn.
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From the weight also the fake can be determined. The fake coins are silver washed around copper and will weigh only 18 grams. Remember the original coins weigh 420 grains

All the above denotes that the coin is fake. In the original coin the eyes of the eagle will be half shut or incused. All the above are just suggestions to find out the fake. These will not help one to find the fake always. Luck also plays a major role in finding the fake and avoiding them and the consequences.

In March 1955, Benjamin Stack advertised a pair of Trade dollars rarities. In 1884 and in 1885 he advertised for $6,500 in the book “The Numismatic Scrapbook Magazine”. The Trade dollars were auctioned in 1988 which is an astonishing fact which was a piece of information in the Norweb Collection. During the early American republic there was a considerable shortage of silver and gold coins. The silver coins are driven away for circulation in the late 1840. Due to Civil war, discovery of gold in California, monetary system the value of silver raised to $10,000,000 by 1864.

Post from: Trade Dollars

Designed by the mint’s chief engraver William Barber, father of the famous engraver Charles E. Barber, the Trade Dollar was first minted in 1873.  The purpose of the coin was for the expanding trade with countries in the Far East, especially China.  In fact, the Trade Dollar isn’t a phenomena specific to the USA, as other countries such as Japan and Great Britain also issued Trade Dollars for commerce with Asia.

The US Trade Dollar

Congress started promoting American commerce overseas by authorizing a new .900 silver coin called US Trade Dollar. The coin weighed 420 grains compared to Mexican coin at 416 grains.  It was also larger than its predecessor, which weighed 412.5 grains.  In Peking, China the US trade dollar was proclaimed as official trade coin in the country overtaking lighter Mexican money.

In Asia the demand for US Trade Dollar was very strong.  Most Trade Dollars ended up in Asia within two years of having been minted.  In 1876 mine owners were unloading huge amounts of silver onto the market which caused a great backlash for the US Trade Dollar. Treasury Secretary John Sherman stopped commercial production of the coin in 1878. The rarest of all US Trade Dollars are those dated 1884 and 1885. These coins were made illegally for the collector of the Mint, William Idler.

Japan also made a trade dollar

The Japanese minted the Silver One Yen coin which is also known as the “Dragon Yen”. The coin was not much different from the US Trade Dollar coin.  One could see a one yen circulating along with the US Trade Dollar. This coin was also issued for foreign trade, and it weighed at 27.22 grams and was .900 silver the same as the US Trade Dollar.

United Kingdom also made a trade dollar

The Opium War began when china stopped Britain from selling opium to its people. Silver dollars were directly involved in the result of the war. Britannia standing on shore, holding a trident in one hand and balancing a British shield in the other depicts that the British trade dollars mined exclusively for use in Far East. The last British dollar was minted in the year 1935. The coin which has the mark “B” was produced at Bombay and “C” was produced in Calcutta. Bombay was the main facility but most of these silver dollars were used by, and planned for, merchant trades to and with Hong Kong and surrounding ports in China. 1935 trade dollar story is still a mystery; many say that they ceased money as a result of the passage in this year of the Currency rule. 1935-B British Trade Dollar was the last of its kind and then the coin vanished into history.

Post from: Trade Dollars

Post from: Trade Dollars

Post from: Trade Dollars

Post from: Trade Dollars

Post from: Trade Dollars

Post from: Trade Dollars