I can't say for sure either but the close up image shows mushy looking lettering. I would not be a buyer based on those photos.
Looks pretty good from the photo but I wouldn't buy it if I was offered with just a picture. It is too deceptive and I would want to do further testing on it before I was satisfied. So I say yes, it's real but no, it COULD be a counterfeit. Doesn't help you much, I'm sure.
The problem you are having is because there were several different reverse hubs used 1875 Trade dollars. The differences are ignored except by specialists. See articles in the Gobrecht Journal. There are two changes to the 1875 dates in the table of die combinations since publication. One is the that the Type 2M reverse hub was used on the CC coins in addition to the Type 1. Additionally, I came to this post late. You all are tough graders. I would have posted genuine (honest...LOL) AU-50 . By the old day's standards and my conservative one: definitely XF but TPGS and I'll bet most coin dealers - no question AU all day long!
Just caught up on this thread, which I found quite informative since I want to add a trade dollar to my collection. I know it will be graded/slabbed by PCGS or NGC. I really admire the experience shown on this thread!