Coin Highlight: 1878-CC United States Trade Dollar

Obverse: Liberty seated on a pedestal facing the sea to the left, holding olive branches surrounded by 13 stars
Lettering: LIBERTY IN GOD WE TRUST 1878
Engraver: William Barber
Reverse: An eagle holding branches with berries and arrows
Lettering: UNITED STATES OF AMERICA E PLURIBUS UNUM 420 GRAINS, 900 FINE. CC
TRADE DOLLAR.
Engraver: William Barber
Edge: Reeded Mintage: 97,000
CC Carson City, United States (1870-1899)
These were the only US coins ever to be demonetized (to force usage of the Morgan dollar, which had a slightly lower silver content). However, the Coinage Act of 1965 re-monetized it via section 102, which makes all coins and currency of the United States legal tender without limit.
David Hall: This is an incredibly underrated coin in all grades. Long time coin dealer Jack Beymer, who has handled as many key dates coins as anyone, says he has handled more 1794 dollars than 1878-CC trade dollars. That's an incredible statement and shows how truly rare this coin is in any grade.
Jack Beymer: I have handled more 1794 dollars than I have 1878-CC Trade dollars.
Q. David Bowers: The following narrative is from my "Silver Dollars & Trade Dollars of the United States: A Complete Encyclopedia" (Wolfeboro, NH: Bowers and Merena Galleries, Inc., 1993):
Made rare by decree. Secretary of the Treasury John Sherman, who disliked trade dollars intensely (even though the director of the Mint, Dr. Henry Linderman, believed they were an excellent, useful coin), mandated on February 22, 1878, that no trade dollars would be raid out for deposits of bullion made prior to the order for discontinuance when received at Carson City.
When this order reached Carson City, this branch mint had already struck 97,000 pieces; 56,000 in January and 41,000 in February-the smallest circulation strike quantity of the denomination. Thus, a rarity was created.
Melting: On July 19, 1878, 44,148 undistributed trade dollars went to the melting pot. All must have been dated 1878-CC, many from the 41,000 delivered in February.(It has been suggested that some in the melt (popularly believed to be fewer than 10,000) may have been of the 1877-CC issue. However, as R.W. Julian has noted, "There is no support for the claim that some of these were dated 1877. Coins were paid out as struck and, under normal circumstances, only coins of 1878 would have been available for melting in July. " Letter to the author, August 22, 1992.) This leaves a net mintage for distribution of only 52,852 coins.
(Sources: Numista, en.numista.com...
PCGS Coinfacts, www.pcgs.com/c...)