Trade Dollars Used to Pay Employees in 1878

[jeff of pa]

Belmont chronicle. (St. Clairsville, Ohio), 22 Aug. 1878.



https://chroniclingamerica.loc.gov/...&proxValue=&dateFilterType=yearRange&page=138

 

Amazon Forum Fav 👍

Diving for Pleasure and Treasure - Grab it through Amazon!

[trdking]

91 cents a piece? Sign me up...

 

[cudamark]

That doesn't sound quite right to me, since they're 90% silver just like the other dollar coins of that era, but, they weigh a bit more......27.22 grams vs. 26.73 grams. Maybe the value of silver had dipped about that time for whatever reason. I think they probably still had a full dollar purchasing power. Kinda like our coins today! Virtually worthless intrinsically, but, they have purchasing power as long as we believe they do.

 

[BC1969]

That doesn't sound quite right to me, since they're 90% silver just like the other dollar coins of that era, but, they weigh a bit more......27.22 grams vs. 26.73 grams. Maybe the value of silver had dipped about that time for whatever reason. I think they probably still had a full dollar purchasing power. Kinda like our coins today! Virtually worthless intrinsically, but, they have purchasing power as long as we believe they do.

I thought exactly what you did and then I thought about how old mining towns operated.
Many coal mines had their own currency in an effort to lock their slaves in place and force them to buy everything from the company store.
Where I'm going with this, is there may have been more to the story with the trade dollars...may have only been able to spend them in a certain place.

BC

 

[Dozer D]

I thought the Trade Dollar was originally intended for FOREIGN TRADE, not domestic use. For domestic use we had the Morgan. That Trade $ would be similar to today's ASE, with nearly 1-ounce of silver.

 

[jeff of pa]

I thought the Trade Dollar was originally intended for FOREIGN TRADE, not domestic use. For domestic use we had the Morgan. That Trade $ would be similar to today's ASE, with nearly 1-ounce of silver.

I dug one years ago,



I've rarely seen them found on here.
I always Figured Travelers lost them.
but if they actually did Circulate here for a Short Time,
There could be Many More out there

 

[glass half fool]

Never knew they had their own "money" Very unique find