The Trade Dollar’s six-calendar year operate of business strikes finished ingloriously when the U.S. Congress revoked the coin’s legal tender status in 1876 and ordered that only more than enough be produced for Global trade.
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The trade dollar was introduced in 1873 as a coin that could let American retailers to contend effectively while in the beneficial East Asia trade. A little bit heavier compared to normal silver dollar it replaced, it absolutely was hoped this new coin might be approved at par with the Mexican Dollar, which was then the popular medium of Trade Among the many merchants of coastal China and Southeast Asia. Within this job it did realize minimal accomplishment. The trade dollar's undoing, even so, was the legal tender position it liked in domestic circulation.
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