Q. David Bowers
B. Max Mehl's sale of the Foster Lardner and H.N. Walton Collections, June 24, 1930, included several Proofs as follows:
1876 Br. Proof. $2.00.
1876 Another as last. Br. Proof. $2.40.
1877 Br. Proof. $2.00.
1879 Br. Proof. $2.20.
John Zug offered these trade dollars in the September 1930 number of The Numismatist: 1873 Proof. $2.50.
1873-S Unc. $2.50.
1874 Proof. $2.50.
1875 Proof. $2.50.
1875-CC Unc. $5.00.
1876 Proof. $2.50.
1876-CC, VF, $4.00.
1877 Proof. $2.50.
1877-S Unc. $1.50.
1878 Proof. $2.50.
1878-S Unc, $1.50.
1879 Proof. $2.50.
1880 Proof. $2.50.
1881 Proof. $2.50.
1882 Proof. $2.50.
1883 Proof. $2.50.
B. Max Mehl's sale of the F.H. Knoop Collection, December 8, 1931, contained a date run of trade dollars. Among Proofs, the 1883 took top price at $2.50, followed by 1873 and 1878 tied at $2.25 each.
1873 Proof. Very scarce in Proof, as are all. $2.25.
1874 Proof. Slight spot on reverse. $1.90.
1875 Br. Proof. $1.75.
1876 Proof, with complete wire edge on obverse. $1.75.
1877 Fine. $1.75.
1878 Purple Proof. Scarce. $2.25.
1878-CC Good. $2.50.
1879 Proof. $1.75.
1880 Proof. $2.25.
1881 Proof. $1.60.
1882 Proof. $1.60.
1883 Proof. $2.50.
In the May 1932 issue of The Numismatist, Don Corrado Romano of Romano's Coin Shop, Springfield, Massachusetts, took issue with dealers and collectors who claimed to work on a 10% margin; (Later, Romano moved to Boston, where for many years he operated the Worthy Coin Company and sold coin premium catalogues to the public. He liked Proof 1878 trade dollars, and in the 1950s and early 1960s hoarded a couple hundred or more of this date.)
In the last five years that I have been in the numismatic business I have found that it is impossible for any dealer to sell coins at less than 25% profit if he wants to make a legitimate profit.
He went on to say that people who sold for less gave unsatisfactory services, had poor selections, etc. Romano determined to fight the situation, said this in boldface print:
Out with the 10% dealer, unless he wants to work on a legitimate profit. I am listing for sale below, coins at less than 10% profit, or practically cost, and will keep on doing it if it takes every dollar that I have, in the hopes of getting ... a small dealer to sell at a better profit, so that we can all make a living. As soon as I see coins selling at normal prices, I will do likewise. In the meantime, while the War on low prices is on, the collector will benefit, so come on collectors, and send some orders, for coins won't be given away for very long at these prices.
Among the items he offered were these trade dollars:
1875-S Unc. $1.25.
1876-S Unc. $0.85.
1877-S Fine $0.75, Unc, $1.25.
In an advertisement in The Numismatist, February 1934, Ambrose J. Brown offered the trade dollars described below. This listing indicates that one of the more active dealers of the time had little on hand in the way of Uncirculated trade dollars from the branch mints. At the time there were no yearly price guides published (this would begin later in the same year, 1934), and nothing was in print concerning standard market values or the rarity of various trade dollars at different grade levels.
1873 VF. $1.10.
1873-CC VF. $2.25.
1873-S Fine. $1.50.
1874 Proof. $2.25.
1874-CC VF. $1.65.
1874-S Unc. $1.25.
1875 Unc. $1.50.
1875-CC VF. $1.25.
1875-S Unc. $1.50.
1876 Unc. $1.50.
1876-S EF. $1.10.
1877-CC Fine. $1.25.
1877-S Unc. $1.00.
1878 Proof. $1.50.
1878-S VF. $1.10.
1879 Proof. $1.60.
1880 Proof. $1.60.
1881 Proof. $2.10.
1882 Proof. $2.10.
John Zug advertised these trade dollars in The Numismatist, December 1934. Note that at the time there was still very little difference in value between a worn coin and an Uncirculated or Proof example. An 1873 cost $1.50 in VF grade and $3.50 Unc.; an 1875-CC cost $1.75 in well-worn Fine grade and only slightly more, $2.50, in Uncirculated preservation. Truly great differentials between grades did not occur until the 1960s.
1873 Proof $3.50; VF $1.50.
1873-S Unc. $4.50.
1873-CC Fine. $2.00.
1874 Proof $3.50; EF, $2.00.
1875 Proof $3.50; Unc., $2.25.
1875-CC Unc., $2.50; Fine, $1.75.
1875-S EF. $2.00.
1876 Proof $3.50; Unc. $1.50; VF. $1.25.
1876-CC VF $2.50; Fine, $2.00.
1877 Proof $3.00.
1877-CC Fine $3.50.
1877-S Unc., $1.50; VF $1.25.
1878 Proof $3.00.
1878-CC Fine. $3.50.
1878 Proof. $4.50.
1878-S Unc., $1.50.
1879 Proof. $3.00.
1880 Proof. $3.00.
1881 Proof. $3.50.
1882 Proof. $3.00.
1883 Proof. $3.00.