The Survival Estimate represents an average of one or more experts' opinions as to how many examples survive of a particular coin in three categories: 1) all grades, 2) 60 or better, and 3) 65 or better. These estimates are based on a variety of sources, including population reports, auction appearances, and personal knowledge. Survival estimates include coins that are raw, certified by PCGS, and certified by other grading services.
Numismatic Rarity
Numismatic Rarity converts the Survival Estimate for a particular coin into a number from 1 to 10 (with decimal increments) based on the PCGS Rarity Scale. The higher the number, the more rare the coin.
Relative Rarity By Type
Relative Rarity By Type ranks the rarity of this coin with all other coins of this Type. Lower numbers indicate rarer coins.
Relative Rarity By Series
Relative Rarity By Series ranks the rarity of this coin with all other coins of this Series. Lower numbers indicate rarer coins.
Q. David Bowers:
The following narrative, with minor editing, is from my "Silver Dollars & Trade Dollars of the United States: A Complete Encyclopedia" (Wolfeboro, NH: Bowers and Merena Galleries, Inc., 1993):
Coinage Context
Only Proofs minted: For the fifth year in a row, the only trade dollars minted at Philadelphia were Proofs. The mintage figure of 1,097 Proofs was nearly equal to the number (1,100) of silver Proof sets made of other denominations from the dime to the Morgan dollar.
Earlier-dated trade dollars continued to flow into the United States from foreign countries, particularly Europe.
Numismatic Information
Proof data: By year's end 1,097 Proofs had been struck, the third highest Proof mintage in the series, and one of just three Proof production quantities to break the 1,000 mark. Demand for them seems to have been heaviest earlier in the year, as the monthly production figures indicate: January: none; February: 393; March: 277; April: 49; May: 70; June: 23; July: 30; August: 10; September: 20; October: 20; November: 40; and December: 165. There is the possibility that some may have been melted, possibly part of the December mintage.
Availability of Proofs today: Examples are readily available and are very popular due to the overall low mintage figure. Many are flatly struck. Walter H. Breen suggests that this may have been due to a deteriorating hub used to produce the die.
Varieties:
OBVERSE TYPE II, RIBBON ENDS POINT DOWN, 1876-1885
REVERSE TYPE II: NO BERRY BELOW CLAW, 1875-1885
Proofs:
1. Normal issue: Breen-5828. Often seen with flat head and stars, as in 1881. Reverse die also used in 1881, with incomplete leg feathers.
1a. Some specimens seen by the author have pronounced die doubling at the bases of some of the letters in the inscription 420 GRAINS, 900 FINE, particularly evident at FI and E of FINE. This die was also used in 1883.
1b. Another 1882 reverse as the right crossbar extension of the 4 in 420 on the reverse so faint as to be almost non-existent, second L in DOLLAR is normal (not the reverse die used in 1880 with defective second L).
Dies prepared: Obverse: Unknown; Reverse: 3 or more (one of which was leftover from 1881)
Proof mintage: 1,097. Delivery figures by month: January: none; February: 393; March: 277; April: 49;' May: 70; June: 23; July: 30; August: 10; September: 20; October: 20; November: 40; December: 165.
Characteristics of striking: Often lightly struck with flat head and stars.
Commentary
This was a Proof-only issue made for collectors. No business strikes were produced.
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