US Trade Dollars tend not to attract as much attentionas other US silver from the 1800s. Was wondering about 2 things: 1. A significant percentage from any year are chopmarked, due to their circulation in China. How does this impact value vs. unchopmarked? 2. Why do PCGS and NGC often have very wide fluctuations in appraised/book value for these coins even for coins of the same grade with no noted problems?
Can't get to my trade dollars at the moment to photograph. I do have one in a TPG holder. It is not noted as damaged. It is noted by the TPG as "Chopmarked" and given a grade. I am like @Idhair and see it as a moment of history forever emblazoned in the character of the piece. My collecting is done from that perspective though. I haven't noticed wide swings in the value of them. Perhaps because I don't purchase as many trade dollars as I do other pieces.... Welcome to CT!
Years ago I don't think that PCGS would even grade these. Now they will. This is the only one I have with chopmarks.
Welcome to CT! Price guides disagreeing is pretty normal. Look to actual sale/auction prices to get a feel for the market. I like chopmarks, though I can't talk intelligently about them. Some coins can have them and still look nice. Some, due to placement, number, heavy punches, etc. can look really beat up. It all makes a difference.
I have heard that some chopmarks are much rarer than others, and depending on the year and grading, can be highly collectible...for example, on MS Carson City minted coins. I have most of the 1873-1878 issues, all slabbed, all unchopmarked. Still looking for decently priced 1876CC, 1877CC, 1878CC...need patience with this set. I don't usually collect proofs (that extend the series to the 1880s)
I think the chop marks are a cool addition and help to add character to trade dollars. The mark on the rev. of your coin looks like a test drill with an added character. These test marks were a common chop mark. They were drilled to determine if the coin was hollow in the middle or are plated. They are a very common variety of mark.
Over thirty years ago I handled a gorgeous … 1875-S/CC Trade Dollar, Uncirculated except for a single chopmark. My father had sold it to a collector back in the 1960s, so it was a "second go-around" for us. This was long before TPG, so I had to be patient to find a collector who appreciated the coin for what was a truly amazing piece of history. Unfortunately the then still prevailing attitude was that it was a classic coin-with-a-problem.
