1880 Trade Dollar - 1880 Trade $1 PCGS PR65 CAC. This attractively toned Gem proof 1880 Trade Dollar comes in an OGH (old green holder) from PCGS. The lustrous coin shows light devices against darker fields, especially so on the reverse. While predominantly rose-tan with silvery highlights, touches of green and blue are seen at the periphery. On the reverse, slate blue fields contrast with rose-tan devices. The surfaces are original and clean for the grade. Minimal hairlines are visible without magnification on the obverse field, and none can be seen on the reverse. The CAC sticker indicates that the coin is of premium quality and fully deserves the assigned grade.

William Barber designed the Trade Dollar. The obverse shows a female figure of Liberty holding a LIBERTY inscribed ribbon. She is seated on a bale of cotton tied with ropes. On another ribbon at the foot of the bale is the motto IN GOD WE TRUST. Liberty faces left, perhaps to the Pacific Ocean or China. She wears a beaded coronet similar to the one on the double eagle. In her hand, which is extended, she holds an olive branch, symbol of peace. Behind her left hand is a sheaf of wheat. Around her are thirteen stars interrupted by the olive branch and Liberty head. They are spaced four, two and seven. The date is below the motto. The reverse shows an eagle facing right. In its right talons are three arrows, an error from the heraldic point of view. The left talons hold another olive branch. Around the top border is the inscription UNITED STATES OF AMERICA. Below the inscription is a banner with the motto E PLURIBUS UNUM. Below the olive branch and arrows is an inscription 420 GRAINS, 900 FINE. Dentils are around the periphery of both sides, and the edge is reeded.

During the late 1860s there was extensive trade between American merchants and China. The Chinese suppliers distrusted paper currency and preferred to receive payment in silver coin. At the time, the Liberty Seated dollar weighed 412.5 grains with 371.25 grains of silver. Thousands of them were exported to the Orient, where most were melted for bullion. Most Chinese merchants preferred the Mexican eight reales, which were slightly heavier and contained slightly more than 377 grains of silver. Chinese bankers and businessmen agreed to take United States silver dollars only at a discount. In order to remedy this situation, Congress, encouraged by the silver-mining interests in the West, felt that a heavier trade or commercial dollar was needed. The result was a Trade Dollar coin containing 378 troy grains of silver, slightly higher than the Mexican coinage.

When first issued in 1873, Trade Dollars were legal tender. However, as the price of silver declined, people would make profit by depositing silver bullion and receiving them in exchange. In 1876 they were demonetized, and their value fluctuated and was solely determined by the price of silver.

William Barber was born in England, married and came to the United States as an adult. He was the son of an engraver and had apprenticed to his father in the early years in England. Among other things he learned typesetting for cards and labels and fine silver engraving. He settled in Boston in September 1852 and worked for Gorham & Company, manufacturers of silver and gold jewelry. Barber was responsible for die making and pattern design for Gorhams trade medals and commemoratives. Eventually, as the Civil War was ending, James B. Longacre, Chief Engraver at the Mint, hired Barber as an assistant in 1865. Barber moved to Philadelphia and began designing patterns and medals for the Mint. One of his most famous medals was the one celebrating the 100th Anniversary of Americas Independence. When Longacre died in 1869, Barber became the fifth Chief Engraver at the Mint. He earned $3,000 per year in salary and held the position until his death in 1879. When he became the Chief Engraver, he immediately hired his unproven son, Charles to be an assistant engraver. This hiring was an example of the kind of patronage that Longacre had tried to eliminate.

No business strike Trade Dollars were made from 1879 to 1885. This proof only issue had a mintage of 1,987. It is a Type 1 proof with the 1 in the date below the G of GOD. On the reverse, the crossbar of the 4 in 420 is perfect.

In its population report, PCGS shows 60 1880 Trade Dollars in PR65 with 28 better. As of September 2012, CAC has confirmed 8 in PR65 condition with 16 better. Neither service lists Trade Dollars by die variety.