By: Mobin
Only 5 minted in proof at the Philadelphia Mint in 1885. Intended for collectors and not released for 25 years when the first surfaced at auction in 1913.
All 5 specimens of the 1885 Trade dollar are known to collectors today. One sold in 2006 for $3.3 million in pristine proof condition valued at over $1 million each.
Struck in 90% silver and 10% copper with a diameter of 38.1mm, mass of 27.22 grams, and reeded edge.
With only 5 proofs minted, the rarity and demand for the 1885 Trade dollar is very high amongst coin collectors .
The lack of business strikes and tiny proof mintage make the 1885 Trade dollar a significant key date in the series.
The Trade dollar series was produced from 1873-1885 with the intent to use in trade in the Orient.
The few times an 1885 Trade dollar has appeared at major coin auction houses, the coins have exceeded millions.