Grading Insights

It is not often that a new standard reference for a United States coinage series is published. Consider that Penny Whimsy, the seminal book on large cents that brought 70-point numerical grading to the fore, is now more than 75 years old; the Edward Maris known as A Historical Sketch of the Coins of New Jersey, covering colonial copper coinage from the Garden State, is nearly 150!

Yet, Trade Dollar enthusiasts are in luck, as a new reference geared toward them and more than two decades in the making offers extensive date-by-date die studies. US Trade Dollar: Rarity, Collection Types, and Top 37 Varieties by Joe Kirchgessner offers a comprehensive list of the “Top 37” varieties (as promised by the book’s title) composed of interesting, scarce, and potentially valuable pieces the astute collector should keep an eye peeled for at the next show or auction.

Just like their “Top 100” counterparts in the VAM listings for Morgan Dollars, PCGS will recognize all “Top 37” Trade Dollar issues (some of which may be co-listed in Fivaz-Stanton or other references) under the variety attribution program. A PCGS Registry Set for the list is also in the works.

By way of introduction – and just in case you’re headed to your local show this weekend – here are three of my personal favorites:

1875 Type I/I (TDV-008)

While readily available in proof format, the 1875 Type I/I is very rare as a business strike and has been revered by devotees of the series at least since the publication of a reference by expert numismatic author Q. David Bowers more than 20 years ago. Look for the die crack connecting the top left obverse stars, a small chip or die lump in the folds of Liberty’s dress just left of the pedestal, and a Type I reverse with a berry beneath the eagle’s left claw. Given the scarcity of this variety, it may take years of searching to find a nice example. Beware of circulated proofs posing as the rare business-strike version!

1875-CC Very Wide CC (TDV-009)

The rarest variety in the “Top 37” is found within the historic and popular Carson City series. A mintmark style using two small, widely spaced characters was known on nearby dates even in late numismatic author Walter Breen’s time. Contributors to the Gobrecht Journal in 1998 predicted it might have been used in 1875 as well, but it remained so elusive that its existence was not confirmed until 2016. There are currently only five known examples, all of which reside in PCGS holders. Note the position of the leftmost “C” relative to the lettering above it; you might discover the sixth example.

1876 Type I/II Recut Finger (TDV-16)

First identified in the Gobrecht Journal in 1996, the 1876 Type I/II with a recut finger is so dubbed due to the presence of a fourth digit on Liberty’s right hand. The vast majority of known examples are proofs, and it is likely a once-proof die that was put in service to produce business strikes (a phenomenon seen in other contemporary series, most notably Indian Cents). While sorting out the method of manufacture can be difficult on circulated examples, the extra (top-most) digit, along with a die bump on the right portion of the reverse scroll, serve to identify this unique and appealing variety.

Extensive, long-term research like that in this newly published work aids in counterfeit detection, adds depth and interest for series specialists, and propels the hobby’s enlightenment forward. Morgan Dollar collectors who collect “VAM” varieties have had decades of enjoyment collecting the “Top 100” VAM issues and related novelties. Kirchgessner’s research now offers similar opportunities in the Trade Dollar realm. Happy collecting!