Something for Trade Dollar fans. 0

[RWB]

March 17, 1885

Hon. H. C. Burchard,

Director of the Mint

Washington D.C.

Sir:

            In compliance with the request contained in your letter of the 13^th inst., I enclose herewith a statement, giving the number of Trade Dollars struck and sold at this Mint from 1878 to 1883 inclusive, with the profit thereon indicated.

            You will notice that in 1880 and 1881 there were more pieces sold than struck. This is accounted for by the facet that some of the dollars of the previous year were sold in the early part of the year, before the proofs for that year were prepared. In the other years, the number sold is less than the number struck. The dollars over were exchanged with the Coiner for those of the succeeding year.

            Prior to 1881 the Trade Dollars were sold in the silver and minor coin sets, and also separately. After that period I stopped the sale of the Trade Dollar separately, as I did not think it wise to encourage their issue, restricting them, as far as possible, to legitimate coin collectors who would purchase the entire set.

            In calculating the profits on the Trade Dollars sold in sets, I have given a relative proportion of the profits so derived.

            When I assumed the Superintendency of the Mint, I found the proof sets, including the Trade Dollars, were selling at $4.50. This seemed to me excessive. I therefore recommended a reduction to $4, which was approved by the Director of the Mint, and went into effect on the 15^th of April 1879. Previous to that time, Trade Dollars – when separate – were sold at $1.50; after that period at $1.25.

            Trusting the statement and foregoing remarks may cover the information you desire.

            I remain,

Very respectfully, Your obedient Servant

A. Loudon Snowden, Superintendent

* * * * *

Statement

Number of Trade Dollars struck and sold at the Mint of the U.S. at Philadelphia, from 1878 to 1883, inclusive.

Year	No. Struck	No. Sold	Profits
1878	900	689	$   189.00
1879	1,541	1,488	388.95
1880	1,987	2,009	369.25
1881	960	990	148.50
1882	1,097	1,055	158.25
1883	979	1,019	152.85
Totals	7,464	$7,250	$1,406.80

 

Edited November 7, 2022 by RWB

[RWB]

The quantities produced match the Mint's 1939 list of proof coins.

[Henri Charriere]

I can abide the explanation, "the number sold is less than the number struck," as simply reporting a fact, but, explanation, notwithstanding,  try slipping "more pieces sold than struck," by me, and my first thought is, Watch out! Someone's trying to pull a fast one on you.   IMHO.  

[RWB]

On 11/7/2022 at 5:05 PM, Quintus Arrius said:

I can abide the explanation, "the number sold is less than the number struck," as simply reporting a fact, but, explanation, notwithstanding,  try slipping "more pieces sold than struck," by me, and my first thought is, Watch out! Someone's trying to pull a fast one on you.   IMHO.  

Hence, the explanation offered before the question was asked.

[VKurtB]

On 11/7/2022 at 4:13 PM, RWB said:

Hence, the explanation offered before the question was asked.

Hmm, sounds like First Day Chicago PCGS gold Kennedy halves in 2014. 

[Henri Charriere]

On 11/7/2022 at 5:13 PM, RWB said:

Hence, the explanation offered before the question was asked.

I read it. I reject it. It is a three-card Monte explanation. I am glad you posted the letter!