1874-CC Trade Dollar CC Coin of the Week 07-10-11

The topic of this week is the 1874-CC Trade Dollar, wrapping up our coverage of Trade Dollars minted at Carson City. After the political posturing and intrigue that resulted in the revaluation of silver in 1873 and the resignation of H. F. Rice as Superintendent of the Mint in Carson City and replacement of the Coiner and Assayer, the new Superintendent Frank Hetrick settled into his job and so began the next era of coinage at the Mint, until 1878 when coinage at the Mint went about face and the Trade Dollar and three other silver coin types came to an end at the Western Mint.

The Trade Dollar has been the subject of many interesting articles in Curry's Chronicle. I have mentioned before that I knew nothing about Trade Dollars when I joined C4OA and now I know enough to be dangerous. Most recently, in the Spring 2011 issue, C4OA member David Reimer observed that the Type 1 obverse was used from 1873 to 1876. The Type 1 reverse was also used from 1873 to 1876 with the Type II reverse used concurrently in 1875 and 76. Therefore all 1874 Trade Dollars will be comprised of Type 1 dies.

James Sneddon expanded on the characteristics of Type 1 dies in his comprehensive narrative in the Fall 2008 Curry's Chronicle. Mr. Sneddon stated that there are two obverse varieties, 1L and 1M. The 1874-CC is represented only by the 1L variety. Here, he quotes F. Michael Fazzari who describes 1L in Gobrecht Journal #61 as "Ribbon tips curve to the left, hand holding olive branch has 3 fingers, the index finger exhibits a tiny protrusion. Top of right ribbon tip above the date is not doubled and the first full wheat stalk extends out as far as the one below it."

The Type 1 reverse is described by Mr. Sneddon as the reverse with the berry under the right facing claw. The lowest arrow tip is over the 0 in 420.

James Sneddon discusses mintmark placement in the Winter 2006 edition. When you think of it, Carson City coins have more mint mark placement varieties merely because it was the only mint which used two mint marks. Obviously, each mint mark was punched separately into the die, so we have differences in distance between mintmarks, as well as general placement. The 1876-CC Trade Dollar, for example, has more mint mark varieties than any other date. A rare variety of the 1874-CC exhibits a very wide micro CC, with 1.2mm distance between the two mint marks. The more prevalent mint mark placement is with the left curve of the left C in line with the edge of the bottom serif of the S in GRAINS and the right C is directly under the period at the end of GRAINS as pictured in the Summer 2009 edition page 30.

In the case of the very wide micro CC, if you extend a line from the points of the right C, it meets the edge of the bottom serif of the S in GRAINS. The right C is also centered directly under the period as pictured in the Winter 2006 edition, page 54. Mr. Sneddon said that the very wide micro CC is rare with about 10 examples known. James said he knows of at least two chopmarked '74-CC with the very wide micro CC. One was in the New England Collection and one is in his collection. His chop marked '74-CC, Mr. Sneddon says, was the last Trade Dollar he acquired for his 9 piece specialized set of chopmarked Trade Dollars.

Another post mint creation Mr. Sneddon owns is an 1874-CC potty dollar, pictured in the Summer 2009 edition, page 30, apparently the only one on a '74-CC he has ever seen.

Rusty Goe estimates that 2000 to 3000 1874-CC Trade Dollars exist in all grades. 300 to 500 are in XF to AU condition and 185 to 225 are in uncirculated condition. Of the 1,373,000 mintage, Rusty said all but 27,000 were exported. Tradedollarnut.com reports that the 1874-CC is one of the rarest Trade Dollars in mint state, MS-64 and better. The finest known is a PCGS MS-66. According to Tradedollarnut.com this coin is from the Amon Carter Collection.

Coinfacts.com reports that the finest chopmarked specimen is graded by PCGS as MS-64. Tradedollarnut.com also reports the date is the most available of all chopmarked Carson City Trade Dollars.

Hi Garryn

I believe this is your best COW post yet.

The study of Carson City trade dollars is like a world unto itself...the subject could easily fill a large book.

James Sneddon has great knowledge of this subject and has been collecting these and many other coins for a very long time....he could very rightfully be labeled an "expert" in this field.
It's a shame that James doesn't own a computer and thus is not an active participant in this C4OA blog-site. He could add so much to it.

I have provided some nice images of 1874-CC trade dollars.
The first photo(s) are courtesy of Heritage Coin Galleries.

The Heritage example sold on Sept. 18, 2008 - Long Beach CA US Coin Signature Auction #1116 Lot # 2510 for $37,375.00.



The second collage photo is from my collection: PCGS MS-62


...and some close-up shots :blink:


I am unsure what varieties both coins may be...if you Garryn or anyone else out there can help identify theses varieties through viewing these photos, it would be very appreciated.

Again Garryn, my hat's (hi-hat! :lol:) off to you for a very fine post

the drummer

Awesome article Garry! I like you did not know a thing about Trade Dollars until I was exposed to them through articles in Curry's Chronicles by James Sneddon. I have since then learned much from the posts here regarding this interesting coin capped with my own COW post of the 1877-CC Trade Dollar. I am surprised that there are as many of this date reported still in existance and that they escaped the melting pot. Drummer thanks for proving the photos and sharing your awesome coin!!

Loosechange

That is an awesome example of the Trade Dollar, Drummer. Thank you for adding the images. That second C seems to be placed a little differently than the piece shown in the Summer edition, page 30. I will look at it again when I have access to it.

GarryN,

Your use of references from Curry's Chronicle is, I hope, a portent of things to come. Heritage's auction catalogers have a complete library of Curry's Chronicles (23 issues to date as of summer 2011). I look forward to the day they start using references from these issues in their auction catalog descriptions. And in time, I hope more researchers and catalogers will start using Curry's as a resource.

You did a thorough job of covering the variety characteristics of Trade dollars in general, and the 1874-CC specifically.

I thought you made a sharp observation when you wrote:

When you think of it, Carson City coins have more mint mark placement varieties merely because it was the only mint which used two mint marks.

This is such an obvious fact that I think most people overlook. It's good that you pointed it out.

You added a personal touch when you said you have learned enough about Trade dollars since you joined the C4OA

to be dangerous.

Way to go! And thanks for your continued support of this discussion board forum.

Rusty

Great article! You may know "just enough to be dangerous," but my amount of knowledge would be lethal. :woohoo: I learned a great deal. Thank you!