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Rusty 1873 Trade Dollar found in Micronesia - Estimate?

Hello guys,
I live in Micronesia, and someone offered me to purchase its Trade dollar he found here.
I am interested in it, so I could trade my speargun against here before flying back home.
Could you please tell me if this is an actual Trade Dollar, and give a rough estimate of its value?


Thanks in advance for your help!
Nicolas

Comments

  • Sorry for the low quality of the picture by the way; when I go to these islands, I cannot bring a high quality camera

  • lermishlermish Posts: 3,021 ✭✭✭✭✭

    @CaptHenway said:
    A crude counterfeit of no value.

    I agree with most of that. I would probably pay $5-10 as a curiosity.

  • DDRDDR Posts: 1,587 ✭✭✭✭✭

    Really bad fake.

  • CryptoCrypto Posts: 3,720 ✭✭✭✭✭

    Howdy, I have spent a bunch of time in Micronesia, mostly on Pohnpei. Nan Madol is one of the wonders of the world that nobody knows about. That is most likely a fake but there is a small chance it is a ground dug find since the pictures are so bad. Most it is worth is 40$ if it is, 5$ if it is fake and those are retail values. A dealer would give 0 or 15$. Not worth much trouble either way

  • johnny9434johnny9434 Posts: 28,416 ✭✭✭✭✭

    Bogus

  • anablepanablep Posts: 5,114 ✭✭✭✭✭

    Keep your speargun.

    Always looking for attractive rim toned Morgan and Peace dollars in PCGS or (older) ANA/ANACS holders!

    "Bongo hurtles along the rain soaked highway of life on underinflated bald retread tires."


    ~Wayne
  • CaptHenwayCaptHenway Posts: 32,230 ✭✭✭✭✭

    Look at the crude and oversized last digit in the date. If anyone still thinks it has a chance of being genuine, I would like to sell you the bridge that connects Micronesia with Bali Hai!

    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • BLUEJAYWAYBLUEJAYWAY Posts: 9,311 ✭✭✭✭✭

    Shoot it with your spear gun.😀

    Successful transactions:Tookybandit. "Everyone is equal, some are more equal than others".
  • RobertScotLoverRobertScotLover Posts: 949 ✭✭✭✭✭

    Could I please see a pic of your speargun inorder to make a proper decision

  • alefzeroalefzero Posts: 977 ✭✭✭✭✭

    Yeah, Trade dollars are probably the most counterfeited coin series. Acquiring them raw is walking into a numismatic minefield.

  • Cougar1978Cougar1978 Posts: 8,269 ✭✭✭✭✭
    edited September 8, 2024 5:47PM

    Bogus. Shop it around bourse find out.

    Value = zero.

    Coins & Currency
  • Cougar1978Cougar1978 Posts: 8,269 ✭✭✭✭✭

    @alefzero said:
    Yeah, Trade dollars are probably the most counterfeited coin series. Acquiring them raw is walking into a numismatic minefield.

    Absolutely.

    Coins & Currency
  • Manifest_DestinyManifest_Destiny Posts: 6,896 ✭✭✭✭✭

    @lermish said:

    @Cougar1978 said:
    Bogus. Shop it around bourse find out.

    Value = zero.

    Which of the Micronesia shows do you prefer, summer or winter?

    I believe you meant dry or monsoon.

  • WillieBoyd2WillieBoyd2 Posts: 5,145 ✭✭✭✭✭

    Wanna buy a trade dollar sailor?

    image

    :)

    https://www.brianrxm.com
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  • dcarrdcarr Posts: 8,523 ✭✭✭✭✭
    edited September 8, 2024 9:12PM

    @CaptHenway said:
    Look at the crude and oversized last digit in the date. If anyone still thinks it has a chance of being genuine, I would like to sell you the bridge that connects Micronesia with Bali Hai!

    .

    I think the last digit looks plausible for a genuine 1873 Trade $.

    But the pictures are way too poor to judge with any real confidence.
    The obverse ribbon ends appear to indicate that it might be a "Type-2" obverse,
    And if that is what it has, then it would be no good since 1876 was the first year for that Type-2 obverse.

    Also, it can't be a legitimate 1878 because those only come with the "Type-2" reverse and that one is definitely a "Type-1" reverse.

    .

  • MapsOnFireMapsOnFire Posts: 234 ✭✭✭

    Doesn't matter if genuine or not. It's crap either way. Why would you want it near your GOOD coins?

  • johnny9434johnny9434 Posts: 28,416 ✭✭✭✭✭
    edited September 11, 2024 11:07PM

    Gawd, I hope it's not the centerpiece of anything 🤓

    Might be a metal detecting coin as well, jmo

  • Namvet69Namvet69 Posts: 9,010 ✭✭✭✭✭

    Might be chocolate, take a bite!

    BST: endeavor1967, synchr, kliao, Outhaul, Donttellthewife, U1Chicago, ajaan, mCarney1173, SurfinHi, MWallace, Sandman70gt, mustanggt, Pittstate03, Lazybones, Walkerguy21D, coinandcurrency242 , thebigeng, Collectorcoins, JimTyler, USMarine6, Elkevvo, Coll3ctor, Yorkshireman, CUKevin, ranshdow, CoinHunter4, bennybravo, Centsearcher, braddick, Windycity, ZoidMeister, mirabela, JJM, RichURich, Bullsitter, jmski52, LukeMarshall, coinsarefun, MichaelDixon, NickPatton, ProfLiz, Twobitcollector,Jesbroken oih82w8, DCW

  • Morgan13Morgan13 Posts: 1,337 ✭✭✭✭✭

    Don't get discouraged these guys are trying to help you out.
    Don't get screwed.

    Student of numismatics and collector of Morgan dollars
    Successful BST transactions with: Namvet Justindan Mattniss RWW olah_in_MA
    Dantheman984 Toyz4geo SurfinxHI greencopper RWW bigjpst bretsan MWallace logger7

  • BillJonesBillJones Posts: 34,053 ✭✭✭✭✭

    Zero. I wouldn't touch it. There is a 99% chance that it is a counterfeit. Even if it were real, the condition is such that no serious collector would want it.

    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • airplanenutairplanenut Posts: 22,165 ✭✭✭✭✭

    @CaptHenway said:
    Look at the crude and oversized last digit in the date. If anyone still thinks it has a chance of being genuine, I would like to sell you the bridge that connects Micronesia with Bali Hai!

    Do you accept trade dollars?

    JK Coin Photography - eBay Consignments | High Quality Photos | LOW Prices | 20% of Consignment Proceeds Go to Pancreatic Cancer Research
  • sellitstoresellitstore Posts: 2,909 ✭✭✭✭✭

    Silver doesn't rust. I guess that badly corroded silver can look something like this but it looks like another oxidized metal.

    The first 8 appears to differ in shape from the second but hard to tell. Look at the top loops-the first 8 looks closer to authentic specimens-flatter top loop.

    Collector and dealer in obsolete currency. Always buying all obsolete bank notes and scrip.
  • CryptoCrypto Posts: 3,720 ✭✭✭✭✭

    @dcarr said:

    @CaptHenway said:
    Look at the crude and oversized last digit in the date. If anyone still thinks it has a chance of being genuine, I would like to sell you the bridge that connects Micronesia with Bali Hai!

    .

    I think the last digit looks plausible for a genuine 1873 Trade $.

    But the pictures are way too poor to judge with any real confidence.
    The obverse ribbon ends appear to indicate that it might be a "Type-2" obverse,
    And if that is what it has, then it would be no good since 1876 was the first year for that Type-2 obverse.

    Also, it can't be a legitimate 1878 because those only come with the "Type-2" reverse and that one is definitely a "Type-1" reverse.

    .

    OP says 1873 and while it looks like an 8 with a type one rev I assume the OP can see it better than those photos. It’s most likely fake but nobody! can know anything for sure form those photos

  • Okay guys, thank you for your comments!! Very informed and fun.
    So, I will try to sell the speargun for $300 directly, that would be more judicious.

    If I pass to meet the seller again, I will take more pictures with my GoPro and share them with you.
    But that's not likely.

  • CRHer700CRHer700 Posts: 2,004 ✭✭✭✭✭

    If it were real, I would buy it for $15.

    God bless all who believe in him. Do unto others what you expect to be done to you. Dubbed a "Committee Secret Agent" by @mr1931S on 7/23/24. Founding member of CU Anti-Troll League since 9/24/24.

  • Au100Au100 Posts: 22 ✭✭

    I wouldn't touch it either. I just reported 8 unslabbed dollar fakes on eBay today. Stay away from unslabbed dollars for sure. I bet 50%+ are fakes.

  • WinLoseWinWinLoseWin Posts: 1,580 ✭✭✭✭✭

    The high, thin rims are also a characteristic of some of these fakes. Possibly an artificial aging gone wrong led to the heavily corroded look.

    "To Be Esteemed Be Useful" - 1792 Birch Cent --- "I personally think we developed language because of our deep need to complain." - Lily Tomlin

  • telephoto1telephoto1 Posts: 4,914 ✭✭✭✭✭

    This is what nickel looks like when it's been in the ground for a long time. Given that and the granularity I theorize a contemporary Asian made nickel or nickel composite fake that was at one time silver washed. Contemporary fakes were the reason that the Trade Dollar was temporarily demonetized so it a seems logical theory, particularly given location of the find.


    RIP Mom- 1932-2012
  • lermishlermish Posts: 3,021 ✭✭✭✭✭

    @telephoto1 said:
    This is what nickel looks like when it's been in the ground for a long time. Given that and the granularity I theorize a contemporary Asian made nickel or nickel composite fake that was at one time silver washed. Contemporary fakes were the reason that the Trade Dollar was temporarily demonetized so it a seems logical theory, particularly given location of the find.

    Do you have a source regarding contemporary counterfeits being the cause for demonetization? This is the first I've heard of that. Most sources report that it was domestic issues that caused demonetization; issues such workers being paid in trade dollars but being unable to spend them at face value and people buying them at a discount below $1 and redeeming for face value.

  • telephoto1telephoto1 Posts: 4,914 ✭✭✭✭✭

    @lermish said:

    @telephoto1 said:
    This is what nickel looks like when it's been in the ground for a long time. Given that and the granularity I theorize a contemporary Asian made nickel or nickel composite fake that was at one time silver washed. Contemporary fakes were the reason that the Trade Dollar was temporarily demonetized so it a seems logical theory, particularly given location of the find.

    Do you have a source regarding contemporary counterfeits being the cause for demonetization? This is the first I've heard of that. Most sources report that it was domestic issues that caused demonetization; issues such workers being paid in trade dollars but being unable to spend them at face value and people buying them at a discount below $1 and redeeming for face value.

    Perhaps a more appropriate statement should have been " part of the reason..." rather than "the reason...". I had been reading John M. Willem's book. Better to get rid of fakes in trade while you're making some money on real ones doing the FV flip.


    RIP Mom- 1932-2012
  • JBKJBK Posts: 15,678 ✭✭✭✭✭

    It was always my understanding that the Trade Dollar was demonetized because it reached the point where the silver was worth more than a dollar.

  • JCH22JCH22 Posts: 214 ✭✭✭✭

    @JBK said:
    It was always my understanding that the Trade Dollar was demonetized because it reached the point where the silver was worth more than a dollar.

    Correct--as summarized in the below link ( pg38) Exceeded the weight of standard silver dollar (p. 37).

    https://fraser.stlouisfed.org/title/information-respecting-united-states-bonds-paper-currency-coin-production-precious-metals-etc-828

    Debates/Joint Congressional resolution which the above references are also searchable.

  • ARCOARCO Posts: 4,396 ✭✭✭✭✭

    Don’t trade your spear gun. Come home and buy a collectible trade dollar if you still want one.

  • BochimanBochiman Posts: 25,405 ✭✭✭✭✭

    Like others have said, fake.
    When I used to work, and go to China on business trips, they were $1 each at the night markets.
    They would do things to try to make them look old and to hide their fakeness.

    I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment

  • CryptoCrypto Posts: 3,720 ✭✭✭✭✭

    @JCH22 said:

    @JBK said:
    It was always my understanding that the Trade Dollar was demonetized because it reached the point where the silver was worth more than a dollar.

    Correct--as summarized in the below link ( pg38) Exceeded the weight of standard silver dollar (p. 37).

    https://fraser.stlouisfed.org/title/information-respecting-united-states-bonds-paper-currency-coin-production-precious-metals-etc-828

    Debates/Joint Congressional resolution which the above references are also searchable.

    This isn’t the whole story, they were first demonetized in 1876 because the price of silver collapsed and they didn’t want them exported back to US for dollars when they were worth 60c of silver.

  • JCH22JCH22 Posts: 214 ✭✭✭✭

    @Crypto said:

    This isn’t the whole story, they were first demonetized in 1876 because the price of silver collapsed and they didn’t want them exported back to US for dollars when they were worth 60c of silver.

    Certainly, link was meant only as a concise summary. Should have been clearer in my response about that. Fuller history of the Trade dollar, silver debates in the 1870s (and after), all great, and extensive, topics in their own right .

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