Supply and demand drive the market for collectible coins. Without an expansion of demand, the value of these collectibles will flatline or decrease in value. The key to this is to keep the market interesting enough that not only will current collectors remain active, but also to increase the number of active collectors.

Despite the decline in the use of physical cash in day-to-day financial transactions, the so-called next generation is always out there as long as we keep it interesting. A new collector needs to be guided by introducing that person to the basics first, not by possibly overwhelming that new collector through the many club, show, and auction activities available to the more advanced collector.

Fortunately, the U.S. Mint is continuing to turn out interesting products that are catching the attention of the non-collecting public, who might start paying attention to their pocket change. We’ve had some intermittent designs on cents, nickels, and quarters in recent years that are unusual, but both the obverse and reverse designs on the Semiquincentennial coins that are only now being released are so different that these coins may make a significant difference in the number of new collectors entering the hobby.

The U.S. Mint continues to turn out many different numismatic-oriented products that can draw in the new collector, but it is these circulating one-year design coins that are most likely to get the new collector started. I’m not suggesting the many different reverse designs on our quarters aren’t making a difference, but these Semiquincentennial designs are so untraditional that they are likely to gain even more widespread attention. It’s going to be challenging to get meaningful statistics that will prove these U.S. 250^th anniversary coins will make a difference, but the likelihood that the new designs will make a difference makes sense.

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The post Semiquincentennial Coins Could Bring New Collectors appeared first on Numismatic News.

Yes, I unfortunately see I have a bad habit of accumulating anything that catches my eye. Started at 10 years old with coins, then graduated into old Bottles. Then one of my employees gave me a Hess truck for Christmas, now 39 trucks later, it’s a collection. Purchased a liquor store and started a Whiskey collection of 125 fifths and 70 miniatures, and I don’t even drink. Gave that one away to my nephew. Now, somehow, I started collecting baseball cards, something I said I would never do, but my son loves them. Unfortunately, time has caught up with me now; no more collecting, but maybe adding to what I started.

Name and Address withheld

I collect Holed U.S. coins by date and mintmark, all denominations, from colonials to date.  Also, when I become impatient, I buy coins with loops, or plugged, as some coins are no longer holed or rarely available holed. 

I also have a few coin spoons, not holed.  Also, 1946 and 1947-dated world coins, not holed.

Dave,  Address withheld

Why yes, I do! There was a bank in Canada that only existed between 1854-1857. The Zimmerman bank. The notes are awfully limited, of course. They had notes in the denominations of $1, $3, $5, $10, & $20. The higher bills much harder to find. I’ve never found one at a show, and they seem to only come up for auction a few times a year. It’s a very interesting search, looking for a bank note that holds your name! 

Brent Zimmerman, Address withheld

I also have a collection of sports cards.

Name and Address withheld

Challenge coins! You will be hearing much more from me and about them very soon!

Mike Ellis, Camilla, Ga.

Squeezed pennies.

@Apennyeveryday, Via X

The post Poll Question: Do you collect anything beyond the mainstream in numismatics? If so, what is it? appeared first on Numismatic News.

An extremely rare Victorian coin has been discovered in a house clearance in Gwynedd, North Wales, and is estimated to sell for at least £70,000 at an auction in Chester next month. 

The coin, known as ‘Una and the Lion’, was designed by engraver William Wyon and features a young Queen Victoria, just two years after she was crowned. The obverse side features the young monarch as Una from Edmund Spenser’s The Faerie Queene, accompanied by a lion symbolizing England.

Only a very limited number of these coins are believed to have been produced, with estimates ranging between 200 and 300 in total. As a result, they rarely appear at auction and are highly sought after by collectors across the globe. The current world record price for a Una and the Lion coin stands at £340,000.

“The original scarcity of these coins means that they very rarely come to auction, so we’re expecting a lot of interest from around the world on this,” said Charles Hampshire, Auctioneer, Valuer and Partner at Rogers Jones, who will be auctioning the coin on 9th April.

“It’s an absolutely stunning coin – a real work of art in its own right. It certainly lives up to its reputation as one of the most beautiful coins in England – or in our case, Wales! With a young and beautiful Queen and a roaring British lion, it perfectly reflects the optimism and energy of its period.”

The Rogers Jones Jewellery, Very Fine Coins and Watches auction is due to take place at 10 am on Thursday, 9th April, at the Rogers Jones Chester saleroom. For more information, go to https://auctions.rogersjones.co.uk/auctions/9598/rogers10631 or email rogersjones@yourssincerely.online

The post ‘Most beautiful British coin’ discovered in Gwynedd house clearance to go under the hammer for £70k appeared first on Numismatic News.

Kick, pass, and goal! The 2026 FIFA World Cup is set to take place from June 11 to July 19 and will be jointly hosted by 16 cities spread throughout the United States, Canada, and Mexico. Eleven games will be held in the United States, two in Canada, and Mexico will host three, with the opening game scheduled for June 11 at the Estadio Banorte in Mexico City.

In honor of the third time the country will host the World Cup, fútbol (soccer) fans everywhere can remember this momentous occasion with a new series of coins released by the Banco de México. The Mexican mint has announced a 3-coin commemorative series in honor of the World Cup, which was approved by the Mexican Senate of the Republic with 94 votes. Featured in the collection are three denominations in varying materials: silver MX$10, bimetallic silver-plated alpaca and bronze aluminum MX$20, and gold MX$25. The MX$25 is of special note for collectors, as it is the first time a coin of that value has entered Mexican coinage.

The obverse of the coins shows a colorized relief of the Mexican National Coat of Arms, with a soccer ball motif in the background, the FIFA logo, and symbols related to the World Cup and Mexico’s heritage encircling. The reverse shows a plain front, with the text, “Estados Unidos Mexicanos” located in the upper portion of the coin.

The 2026 FIFA World Cup coins will be available for purchase at the Mexican Mint, banking institutions, and related retailers. Prices are dependent on precious metals pricing and consumer demand.

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Our morning opens at Erwin Dietrich AG, a Zurich-based firm with deep roots in the city’s numismatic and financial life.

Tucked into the historic streets of Zurich’s Old Town, Erwin Dietrich AG represents a quieter, more deliberate side of the numismatic world, one that is built on expertise, discretion, and decades of experience. Founded in 1957, the firm has long been a vital part of Switzerland’s deeply rooted financial culture, earning the trust of its clients and community.

Located at Werdmühleplatz, just steps from the city’s commercial center, the business reflects the understated nature of Swiss numismatics. There are no theatrical displays, grand cases, or sweeping exhibits here. Instead, the space functions as a working office, where coins are examined, authenticated, and exchanged with a level of care that comes from generations of specialized knowledge.

For visitors, the experience offers a rare glimpse into the mechanics of the hobby. This is where collecting moves beyond acquisition and into evaluation. It is where rarity, condition, and history are weighed. As an established presence within the European coin trade and a recognized Swiss dealer, the firm connects private collectors, institutions, and the broader marketplace in ways that are often unseen.

It is a subtle introduction to Zurich’s numismatic landscape, but an important one that grounds our journey into the real, ongoing life of the coin trade.

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Ready to experience it for yourself? Join Numismatic News on this unforgettable NumisTravel journey through Zurich and beyond. From world-class museums and auction houses to scenic excursions and the Zurich Coin Fair, this is a collector’s trip like no other.

View the full itinerary and reserve your spot: https://store.numismaster.com/pages/tour/numistravel-2026oct-zurich

The post NumisTravel: Zurich, Switzerland – Day Two, Destination One: Inside Zurich’s Working Numismatic Trade appeared first on Numismatic News.

Welcome to the beginning of spring. This month, we will move over to Ohio and visit rural Warren County for a look at the small town of Morrow.

Located in the scenic Little Miami River valley of Warren County, Morrow, Ohio, is a historic village situated approximately 30 miles northeast of Cincinnati. Geographically, it sits at the confluence of Todd’s Fork and the Little Miami River, a position that historically defined its growth and industry. According to the most recent census data, the village maintains a small-town atmosphere, with a population of roughly 2,000, and serves as a quiet residential hub within the rapidly growing Hamilton and Salem Townships. Morrow is easily reached via U.S. Route 22 northeast from Cincinnati, which becomes Pike Street in town, or from I-71 via the State Route 123 exit.

The village was officially platted in 1844 by William H. Clement, George Keck, and Clark Williams, all of whom were involved in building the Little Miami Railroad, which linked the Ohio River to Lake Erie and transformed Morrow into a vital regional stop.

The town was named in honor of then-Governor Jeremiah Morrow. Before its formal incorporation, the area was part of the Symmes Purchase and was inhabited by early settlers attracted to the fertile bottomlands.

During the late 1800s and early 1900s, Morrow flourished as a commercial crossroads. With the railroad, the town grew quickly, and many more lots were added with businesses moving in from neighboring villages. In 1845, a post office was established in town. Because it served as a junction for multiple rail lines, it became a shipping point for local agricultural products, lumber, and gravel. The village was home to several mills, a canning factory, and a bustling downtown district that provided services to the surrounding farming community. This era marked Morrow’s peak as an industrial provider, fueled by the constant movement of steam engines through the heart of the valley.

Like many river towns, Morrow’s history has been shaped by the power of water. The village suffered significant damage during the Great Flood of 1913, which devastated much of Ohio’s river infrastructure. While the community rebuilt, the mid-20th century brought a shift in fortunes as the railroad industry declined in favor of interstate highways. The tracks that once brought prosperity were eventually abandoned, leading to a period of economic quietude as the village transitioned from a commercial center to a peaceful “bedroom community.”

The robust growth of Morrow in the early 20th century facilitated a need for better banking services. Prior to 1907, the only bank in Morrow was the Couden Bank, founded in 1858 by James Couden. The bank operated out of a landmark building at the corner of Main and Center Streets, which was constructed in 1860. This building was later equipped with a high-security vault from the Mosler Safe Company, which remained in use for decades.

In 1907, the Couden Bank decided to join the National Banking scheme and became the Morrow National Bank, charter #8741. At almost the same time, a group of local businessmen organized the First National Bank of Morrow, charter #8709, to compete with the Couden-owned Morrow National Bank. Let’s look at these banks.

We will start with the First National Bank, which obtained its charter a few weeks prior to the Morrow National Bank. The First National Bank opened in May 1907 and not only survived the end of the National Currency era but continues to operate to this day.

During its currency-issuing days, the bank issued a variety of Series of 1902 large-size notes, as well as Series of 1929 small-size notes, in both Type 1 and Type 2 varieties. It was, however, never a large institution. Over 28 years, until 1935, its total issue was just $383,000, a rather small amount. Interestingly, it did issue $50 and $100 notes in large size (just 78 sheets), though none are known to exist. For a small bank, quite a few notes are known, with 18 large and 14 small notes currently reported.

I recently spied an attractive, large note issued by the First National Bank on eBay, and I liked it enough to look up the town and learn about the bank. The note was quite attractive, and I added it to my collection. It bears a nice purple stamped signature of William Wesley Whiteker, cashier, and a beautiful pen signature of Phillip Whitacre, vice president.

I learned that William Whiteker had started his banking career as a cashier at the Spring Valley National Bank (charter #7896) and later moved to the First National Bank at Morrow in 1920. In later years, he became president of the bank and died in 1958.

The Morrow National Bank, charter #8741, which succeeded the Couden Bank, opened in June 1907 with Alfred N. Couden, son of James Couden, as president. The bank was similar in size to the First National Bank and issued the same variety of notes. The total issue was a tad smaller, at $295,000, of which nine large and small issues are currently reported. As a rule, I only collect by town, so I did not and probably would not obtain a note from this bank, already having one from the First National.

The effects of the Great Depression came down hard on Morrow, and the two banks could not continue to operate in successful competition. As a result, the leaders of these banks decided that a merger was the best option, and Morrow National Bank liquidated at the end of 1934 and merged with the First National Bank, which continues to operate today.

Today, Morrow has reinvented itself by embracing its natural and historical assets. The old railroad corridor has been transformed into the Little Miami Scenic Trail, a premier destination for hikers and cyclists that breathes new life into the village’s economy.

While modern suburban development creeps closer from the Cincinnati suburbs, Morrow retains its distinct identity through its historic architecture and its role as a gateway to outdoor recreation in the Little Miami Valley.

The old business district of Morrow does not run along U.S. Route 22 (Pike Street) but along Main and Center Streets, closer to the Little Miami River. The two bank buildings are both located on the same side of Main Street, just across Center Street from each other. The old Couden Bank (later Morrow National Bank) building was damaged by floods in 1913, 1937, and 1957, but has been nicely renovated and is currently home to Miranda’s Ice Cream Shoppe. The original Couden Bank safe and later Mosler bank vault are still visible in the shop.

The First National Bank building also still stands in town, though no longer in use as a bank. Its original Formstone façade has been whitewashed, and the building is now home to Fresh To Morrow Café and Market. The bank is still in operation but has moved to a much more modern, user-friendly location at 541 Pike Street.

The Little Miami Railroad used to run right through the center of Main Street. The old tracks have long been torn up, and the old rail bed is now the Little Miami Scenic Trail.

Readers may address questions or comments about this article or national bank notes in general to Mark Hotz at markbhotz@gmail.com.

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The post Hotz off the Press: Historic Sights and National Banks in Morrow, Ohio appeared first on Numismatic News.

Some of the greatest rarities in American numismatics were struck at the historic Carson City Mint in Nevada. In this article, you will be introduced to four Seated Liberty dollars and six Trade dollars, all of which circulated—in both the United States and China. It is common knowledge that the Trade dollar circulated in China, for it was produced for that purpose.

Earlier on, Seated Liberty dollars were sent to China in trade. Why? Because they always had an intrinsic value of more than a dollar, which made them de facto bullion. The existence of several Seated Liberty dollars with Chinese chop marks is compelling evidence of their use in the China trade.

An interesting idea would be to acquire one of the coins discussed in this article to include in your collection.

1870-CC Seated Liberty Dollar

Above: A rare 1870-CC Seated Liberty dollar with chop marks, offering evidence of Carson City Seated dollars being employed in the China trade. (Photo courtesy of Dan Huntsinger from his private collection.)

The 1870 Carson City silver dollar is an intriguing issue. It was the very first coin struck at the famed Nevada mint. It’s also the only Seated Liberty Dollar from Carson City available to collectors. Countless numismatists want to own this historic coin. David Bowers writes, “The 1870-CC, the first Carson City dollar issue, was minted to the extent of just 11,758, the total of monthly production figures per Mint records.”

Despite its small mintage, examples exist in decent numbers in circulated grades, demonstrating that it was used in everyday commerce—and saved. Bowers continues, “John Kroon reported that he saw 17 specimens at a single coin show …. Dale Phelan wrote that in 1992 a hoard of 82 coins in lower grades was in a private collection.… Hundreds of specimens exist, many of which show extensive wear.” Additionally, writes Bowers, “Examples of Mint State 1870-CC dollars, while quite rare, are more available than any of their other Carson City brethren in the Liberty Seated series.”

The 1870-CC circulated in the West. However, Seated Liberty dollars were also employed in the China trade. People in the West employed hard money in day-to-day commerce, but the dollar coin was never a common circulating medium. That is why mintages of Seated Liberty dollars were always small. There is one known chop-marked 1870-CC dollar, which demonstrates that this issue was sent to China. In 1870, a silver dollar had an intrinsic value of $1.027, making it de facto bullion. When that happened, merchants would send Seated Liberty dollars to China in trade. But there was a small amount that circulated, especially in the West.

Graded coins:

PCGS (original): 630 (details)? (PCGS’s details grade census is not available to collectors)

NGC (original): 270 (details) 894

Above: A Canton harbor in 1850. Many U.S. Seated Liberty dollars and Trade dollars entered China via Canton. (Photo courtesy of Wikimedia Commons.)

1871-CC Seated Liberty Dollar

“The 1871-CC is quite famous and has been admired for decades. Examples are highly prized in any grade,” writes Bowers.

It is rare in all grades. NGC estimates there are 100 survivors overall. Bowers writes, “Of the 1,376 1871-CC dollars struck, probably 85 to 125 exist today in circulated grades. This remnant, amounting to 6 percent to 9 percent of the original issue, indicates that the rarity of the 1871-CC was recognized at an early date.” Noticeably, the relatively large (in comparison) mintage of 1870 significantly reduced the need for dollars in 1871. Judging by the small mintages of the following two years, there was never a considerable need for these coins, but they did indeed circulate. However, it is possible that most of them ended up in China, due to their intrinsic value being over a dollar.

Graded coins:

PCGS (original) 134 (details)?

NGC (original) 47 (details) 52

1872-CC Seated Liberty Dollar

With a mintage of only 3,150 pieces, this is a rare issue. Bowers writes, “Today, the number surviving is in the range of perhaps 150 to 200, including lower grades in the Good, VG, and Fine ranges. Opinions on the number of survivors vary …” Bowers continues, “I believe that most 1872-CC dollars circulated after 1873 when their intrinsic value dropped below their face value.” However, that appears to be a questionable theory about the hard money West and when considering the usage of silver dollars in the China trade. R. W. Julian writes, “…dollars were struck only for private depositors.” That suggests that they were struck for use in the local Carson City/Western economy, as well as, due to their intrinsic value of over a dollar, for export to China.

Graded coins:

PCGS (original) 267 (details)?

NGC (original) 98 (details) 140

Above: The clipper barque Spirit of the Age, 1854. Illustration by T.G. Dutton. Ships such as this were active in the U.S.-China trade and carried Seated dollars and Trade dollars in their bullion rooms. (Photo courtesy of Wikimedia Commons.)

1873-CC Seated Liberty Dollar

Above: An 1873-CC Seated dollar graded MS65 by PCGS, the finest known of this issue. Writes Bowers, “This is the most famous of all Carson City Mint Liberty Seated dollars and also the rarest.” (Photo courtesy of PCGS Coinfacts.)

“This is the most famous of all Carson City Mint Liberty Seated dollars and also the rarest,” writes Bowers.

This was also the year the Trade dollar made its debut. Bowers reports that “Mintage was 1,000 in January and 1,300 in March,” giving us a total of 2,300 pieces. NGC Coin Explorer estimates that there are 100 extant examples of the 1873-CC today. In a letter to Bowers, Julian writes of the 1873-CC Seated Liberty dollar: “If the 2,300 were not called for by the silver depositor, it is likely that they would have been melted, and his bullion returned to him. It is my opinion, however, that all the coins were paid out and then perhaps redeposited for trade dollar coinage a few weeks later.” If Julian is correct, that suggests that the bulk of the 2,300 1873-CC Seated Liberty dollars were initially earmarked for export to China. That is due to Trade dollars having 378 grains of fine silver vs. the Seated dollars having 371.25 grains. The higher silver content gave Trade dollars greater buying power in China.

Graded coins:

PCGS (original) 102 (details)?

NGC (original) 33 (details) 61

1873-CC Trade Dollar

Above: An 1873-CC Trade dollar “Chop Mark” graded AU58 from the David Reimer PCGS Registry Collection of finest chop-marked Trade Dollars. Reimer writes, “With a mintage of only 124,500, the 1873-CC is one of the keys to the series, chop marked or not.” (Photo courtesy PCGS Registry Sets.)

Production of the Trade dollar overlapped that of the last issue of the Seated Liberty dollar (1873). The mintage was a substantial 124,500 at Carson City for the inaugural year of the Trade dollar. Bowers writes, “Nearly all coins were shipped to the Orient…. Many of the exported pieces saw heavy use and were chop marked…” David Reimer, who possesses the #1 PCGS Registry Set of Chop-marked Trade Dollars, writes, “With a mintage of only 124,500, the 1873-CC is one of the keys to the series, chop marked or not.” It is very rare with chop marks, for PCGS has only graded 17 examples carrying them. The finest chopped example is AU58. How rare is the 1873-CC Trade dollar? Maurice Rosen wrote in 1992, “This is a largely unheralded date, much rarer than the 1889-CC Morgan silver dollar.” It is impossible to determine the number of chop-marked Trade dollars authenticated and graded by NGC, for unlike PCGS, they consider them damaged and are counted among “Details” graded coins.

Graded coins:

PCGS (original) 102 (details)?

NGC (original) 33 (details) 61

1874-CC Trade Dollar

Above: The most common Trade dollar with chop marks is the 1874-CC. This one is graded PCGS AU-55 Chop Mark (CAC), from a private collection. (Photo courtesy of PCGS.)

The mintage of Trade dollars in Carson City was ramped up to 1,373,200 in 1874, pointing to the great success of the coin in China. Ron Guth writes in PCGS Coinfacts, “The 1874-CC is among the more common of the chop-marked Trade Dollars, and it also has one of the highest rankings in the Condition Census, with [three] examples at the MS64 level.” Writes Bowers, “Chop marked 1874-CC dollars are aplenty and always have been. The issue ranks as the most available of all chop-marked Carson City trade dollars…” PCGS has graded 151 examples with chop marks.

Graded coins:

PCGS (original) 618 (details)?

NGC (original) 295 (details) 325

1875-CC Trade Dollar

Above: Chinese accountants photographed by Lai Afong, circa 1880. (Photo courtesy of Wikimedia Commons.)

Writes Bowers, “With a total production quantity of 1,573,700 coins, the 1875-CC was produced in larger numbers than any other trade dollar from this mint.” The vast majority of the 1875-CC was exported to China. Bowers reports that the 1875-CC is the “most available CC trade dollar.” NGC Coin Explorer reports, “Carson City’s production of trade dollars was a replay of 1874, though the 1875-CC edition has survived in greater numbers.” Chop-marked examples are available, for PCGS has graded 131 of them. The finest with chops at PCGS is MS63.

Graded coins:

PCGS (original) 864 (details)?

NGC (original) 406 (details) 618

1876-CC Trade Dollar

The mintage in Carson City that year was 509,000. NGC Coin Explorer writes, “It’s not [known] why trade dollar production was suspended for the year after April, leaving the 1876-CC issue with just a third the mintage of 1875….This is the most difficult CC trade dollar to locate in high grades.” The mintage may have been lowered in Carson City because production greatly increased in San Francisco. In 1875, the mintage at the California mint reached 4,487,000, while in 1876, it was 5,227,000. Also, since the intrinsic value of the Trade dollar dipped below a dollar that year, unscrupulous silver merchants were distributing significant amounts of them domestically at par. The value of the coin dipped to 83 cents on July 22, the same day Congress removed the Trade dollar’s legal tender status. Only 34 examples of the 1876-CC with chop marks have been graded by PCGS. The finest chopped example at PCGS is MS63.

Graded coins:

PCGS (original) 369 (details)?

NGC (original) 214 (details) 235

1877-CC Trade Dollar

Production of Trade dollars in Carson City resumed in June of 1877 and continued until the end of August. The total mintage for the year was 534,000. Allegedly, all those coins were earmarked for the China trade, the intended purpose of the Trade dollar. And many of them ended up in East Asia. However, as had happened in 1876, silver merchants were distributing undervalued Trade dollars at par. That was despite their legal tender status being revoked the year before. There have been 52 chopped examples of this issue graded by PCGS. The highest grade with chop marks is MS63.

Graded coins:

PCGS (original) 337 (details)?

NGC (original) 166 (details) 154

1878-CC Trade Dollar

Above: Extremely rare 1878-CC Trade dollar with chop marks graded PCGS AU58 Chop Mark. From the David Reimer PCGS Registry Collection of finest chop-marked Trade Dollars. (Photo courtesy of PCGS Registry Sets.)

“By all accounts the 1878-CC is the most popular rarity among circulation strike trade dollars,” reports David Bowers.

David Hall writes, “This is an incredibly underrated coin in all grades. Long-time coin dealer Jack Beymer … says he has handled more 1794 dollars than 1878-CC trade dollars. That’s an incredible statement and shows how truly rare this coin is in any grade.” Early 1878 saw the Carson City Mint strike 97,000 pieces in anticipation of continued demand. However, just a portion of them were committed to merchants who deposited silver. Those not committed, according to NGC Coin Explorer, totaling 44,148 coins, were melted on July 19, leaving a net mintage of 52,852 pieces. We don’t know how many of the 52,852 1878-CC Trade dollars were shipped off to China. The evidence says a sizable amount circulated domestically.

John M. Willem, who authored the only book devoted to the U.S. Trade dollar, writes, “It is extremely difficult to find an 1878-CC with a genuine Chinese chop mark. It is the author’s considered opinion that a chop marked 1878-CC is the rarest of the trade dollars in any condition.” PCGS has graded only 8 examples with chop marks. The finest known is MS62. As discussed, we cannot determine how many 1878-CC coins with chops are graded by NGC because they are counted among the damaged coins in their “Details” census. Perhaps it is time for NGC to finally give chop-marked Trade dollars a straight grade “because of the frequency with which they occur and because of high demand from collectors.”

Graded coins:

PCGS (original) 253 (details)?

NGC (original) 107 (details) 115

Precious and few

Above: A commercial street in Canton, circa 1880. Merchants in Canton chop-marked Seated Liberty and Trade dollars that entered the Chinese economy. (Photo by Lai Afong, courtesy of Wikimedia Commons.)

The rarity of the four Carson City Seated Liberty dollars discussed in this article can be attributed to two factors: low mintages and the China trade. The low survival rates of the four issues suggest that merchants employed these de facto bullion coins for export. More evidence pointing to the use of the Seated Liberty dollar in the China trade concerns the Mexican dollar. The vast majority of silver exports from the U.S. to China for many years were Mexican dollars. However, starting in 1867, the Mexican government added a 12 percent excise tax on all silver coins being exported. Therefore, U.S. silver merchants stopped using Mexican dollars completely and employed more of the Seated Liberty dollars for export. That included Carson City dollars. Explaining the rarity of the Carson City Trade dollars is a bit more complicated.

Their rarity is due to two factors: the China trade and extensive melting. In total, there were 35,958,460 business-strike Trade dollars produced at the Philadelphia, Carson City, and San Francisco Mints from 1873 to 1878. Of those, there were 6,607,632 that remained in the U.S. However, after the coin was terminated in February of 1878, agitation began with the goal of redemption of Trade dollars at par, even though the price of silver was dropping. To that end, between the years 1879 and 1881, there were 2,074,812 Trade dollars repatriated from East Asia.
Nevertheless, in 1883, the U.S. government made it crystal clear that if and when Trade dollars would be redeemed, any that were chop-marked or otherwise mutilated would not be accepted. That news resulted in the re-exportation of 1,652,938 chop-marked Trade dollars to the East during the years 1884 to 1886. The total number of Trade dollars redeemed at par in 1887 was 7,689,036, most of which were eventually melted down. That figure represents 21.38 percent of all business strike Trade dollars.

The total amount of coins that did not return to the U.S. was 28,928,954. Of course, chop-marked and non-chopped Trade dollars have been returning from China since the 1940s-1950s for the collector market. This will help explain the rarity of Carson City (and other) Trade dollars.

Acknowledgment: The author wishes to thank Tom Rigione for his assistance in preparing this article for publication.

Sources:

Q. David Bowers, Silver Dollars & Trade Dollars of the United States – A Complete Encyclopedia. Internet version of the book via PCGS.

Eric Brothers. “International Sensation, Domestic Flop: The American Trade Dollar.” ANS Magazine, no. 2, (2023).
NGC Coin Explorer (Seated Liberty dollars from 1870-1873; Trade dollars from 1873-1878).

PCGS Coinfacts (Seated Liberty dollars from 1870-1873; Trade dollars from 1873-1878).

“Mineral Products. No. 668. Silver: Price and Value of Silver in the Dollar. 1925.” via Federal Reserve Bank of St. Louis.

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Canada

The natural beauty and strength of the Canadian wilderness are forever captured in Tom Thomson’s painting The Jack Pine (1916–1917). The Royal Canadian Mint has extended this legacy with a 99.99% silver 2-ounce issue that features the famous tree scene in a mirror-finish relief design. Courtesy Royal Canadian Mint.

Liberia

Remember when giants ruled the Earth with the Germania Mint’s “Megafauna” series for Liberia. Available in a range of metals, the coins show a Eurasian cave lion mid-attack amongst ancient forests and mountains on the obverse. The reverse displays a lion’s skull and paw print, encircled by tracks of prehistoric animals that will be seen on future releases. Courtesy of Germania Mint/Instagram. 

France

There is a body in the library! One of the latest coin releases from Monnaie de Paris is from its “L’Art de la Plume” series, which honors literary icons in gold and silver. Depicted are some of Christie’s greatest hits, including Death on the Nile and The Body in the Library, as well as an issue focused solely on the iconic author. Courtesy of the Monnaie de Paris. 

Switzerland

The long tradition of Switzerland’s Federal Shooting Festival in Chur is being remembered with the return of another practice: the “Shooting Talers” series. Available in 50-franc silver proof and 500-franc gold proof, the designs show a half-bust of William Tell with an arrow in his right hand on the obverse, and an allegorical female of Switzerland and a horned goat on the reverse. Courtesy of Coin & Currency Institute.

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The NumisTravel experience, taking place October 19–26, 2026, is bringing collectors, historians, and enthusiasts together for an immersive journey into one of the world’s great financial and numismatic centers. Centered in Zurich, the trip offers a rare opportunity to explore museums, auction houses, and collections in a country long recognized as a global hub of banking and commerce.

Your itinerary will include numismatic delights such as the Money Museum, Sincona AG, and other renowned institutions and collections. Dive into the world of chocolate and embark upon a scenic excursion to Lucerne and more, culminating in the Zurich Coin Fair finale. Your NumisTravel adventure blends numismatic depth with cultural discovery in a way few travel experiences can match.

That journey begins the moment you arrive.

A smooth landing at Zurich Airport sets the tone. From there, a short transfer carries you into the city, where historic architecture, modern design, and the blue expanse of Lake Zurich create an unforgettable first impression.

Day One: A Stay in Zurich’s Seefeld District

Your home for the week is the Sorell Hotel Seefeld. Inside the hotel, you will find contemporary Swiss design with clean lines, warm finishes, and thoughtfully appointed rooms. It is ideally positioned in one of Zurich’s most desirable neighborhoods. Located in the Seefeld district near Lake Zurich and just minutes from the historic Old Town, the hotel offers a balance of comfort, style, and accessibility that will serve as our home base throughout the tour.

Seefeld itself is a destination within a destination. With its tree-lined streets, boutique shops, and relaxed culture, the neighborhood provides a quieter, more local perspective on Zurich while remaining closely connected to its cultural landmarks. A short walk leads to the lakefront promenade, where views stretch across Lake Zurich and into the distant Alps.

Zurich highlights on our numismatic journey are all within easy reach. As evening settles in on your first day, you’ll gather with fellow travelers for a relaxed welcome dinner at a nearby restaurant, with time for a stroll along Lake Zurich after sharing great collecting stories. Then it’s back to the Sorell Hotel Seefeld for a good night’s rest before the week ahead.

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Ready to experience it for yourself? Join Numismatic News on this unforgettable NumisTravel journey through Zurich and beyond. From world-class museums and auction houses to scenic excursions and the Zurich Coin Fair, this is a collector’s trip like no other.

View the full itinerary and reserve your spot: https://store.numismaster.com/pages/tour/numistravel-2026oct-zurich

The post Welcome to Zurich: Day One -Your NumisTravel Journey Begins appeared first on Numismatic News.

The market for modern coins is notoriously tricky, as world mints issue new coins every month. What is hot one minute can quickly turn cold as attention shifts to the next big thing.

We recently reviewed all Canadian coins from 2001 to present and witnessed this reality as we adjusted prices for the several thousand collector coins issued since the turn of the century.

One of the Royal Canadian Mint’s hottest releases was the Venetian glass coin series, which attached a piece of Venetian glass to a coin. The 2011 silver $20, featuring a ladybug and a tulip, was the world’s first coin to have an embellishment of Venetian glass. Cataloged as KM-1135, this coin previously traded at $1,000 in Proof-65 condition and is now $500.

The majority of collector coins made in the last 25 years are going to grade in the upper ranges, 69 or 70. It is our understanding that the previous policy was to list raw coins, still in official government packaging, at the 65 level (with Proof or Uncirculated applied based on the method of manufacture). As we reevaluated these numbers, the value of this coin has been halved to $500.

While the stated value for that coin took a major haircut, the other side of the coin (so to speak) was the vastly multiplied price for the 2016 Traditional Ukrainian Pysanka silver $20 coin (KM#2160). Previously priced at $250, we multiplied it to $2,000, based on recent sales of $1,800 and $2,138, respectively.

Prices for many of these coins were only mildly adjusted, as the precious metal value finally approached the stated market value. However, base metal coins proved trickier, since their real market values were never tied to metal value to begin with. One of the hardest-hit areas was the Royal Canadian Mint’s series of bird 25¢ coins, issued from 2007 to 2014, for which prices were reduced significantly across the board.

But not all base metal coins suffered this fate. Prices for the 2009 50¢ coins showing logos of the six Canadian teams then in the National Hockey League were all adjusted upward, some significantly. With mintages ranging from 248 to 1,266, these are just scarce in the market, driving their value. When it comes to staying power for Canadian coin themes, pitting birds against hockey, hockey has done surprisingly well. That’s some heated rivalry.

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