The United States trade dollar is a silver dollar coin that was issued by the United States Mint and minted in Philadelphia, Pennsylvania, Carson City, and San Francisco from 1873 to 1885. Trade dollars intended for circulation were last produced in 1878 while proof coin production continued until 1885.
The coin was designed by William Barber, the mint's chief engraver.
More trade dollars were minted in San Francisco than Carson City and
Philadelphia combined. San Francisco was closest both to the source of
the silver as well as the ultimate destination of the coins, China. Many
Trade dollars have what are called "chop marks" on them. Chinese
merchants would stamp the coins, thus guaranteeing weight and fineness
and, also, advertising their businesses.
The United States Congress authorized the U.S. Mint to create a trade dollar to improve trade with the Orient, China in particular. Prior to that, the Mexican peso had been the primary silver coin used in trading with China. In fact, the eagle on the trade dollar's reverse looks quite similar to the peso's.