Chop marks on trade dollars
Dentuck
Posts: 3,819 ✭✭✭
I recently sent my kudos to Coin World editor Steven Roach, regarding Jeff Starck and his article “X Marks the Chop” in the May 7 issue. It's an engaging exploration of chopmarked coins and their place in today’s hobby. I remember the first chopped trade dollar I encountered in person: an otherwise solid VF-20 with a mysterious counterstamp sunk into the obverse, nearly hidden in the details of Miss Liberty’s bale of commercial goods.
In Starck’s article, researcher and collector Howard A. Daniel III is quoted: “I believe the ‘Red Book’ should include something about chops on U.S. Trade dollars because they are now slabbed and acceptable.”
The Red Book does in fact mention the subject: “Many pieces that circulated in the Orient were counterstamped with Oriental characters, known as chop marks” (page 224 in the 2013 edition). Since the 2005 edition, a phrase that was in earlier editions has been removed: “These are generally valued lower than normal prices.”
And here’s an intriguing note from the 1947 edition of the Red Book (published in late 1946): “U.S. Trade dollars are still circulating in the Orient.” I imagine many of those were chopmarked, since in 1887 the Treasury was authorized to redeem any coins that were not “mutilated.”
If you haven't read Jeff Starck's informative and interesting article, I recommend it.
In Starck’s article, researcher and collector Howard A. Daniel III is quoted: “I believe the ‘Red Book’ should include something about chops on U.S. Trade dollars because they are now slabbed and acceptable.”
The Red Book does in fact mention the subject: “Many pieces that circulated in the Orient were counterstamped with Oriental characters, known as chop marks” (page 224 in the 2013 edition). Since the 2005 edition, a phrase that was in earlier editions has been removed: “These are generally valued lower than normal prices.”
And here’s an intriguing note from the 1947 edition of the Red Book (published in late 1946): “U.S. Trade dollars are still circulating in the Orient.” I imagine many of those were chopmarked, since in 1887 the Treasury was authorized to redeem any coins that were not “mutilated.”
If you haven't read Jeff Starck's informative and interesting article, I recommend it.
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Comments
off my "numismatic radar."
<< <i>Personally I don't think chopped T$1's should be assigned monetary values since chopped ones can sell all over the map due to the numerous amount of factors playing into the value. >>
Agreed. It would be quite hard to generalize them for deciding a value, the number of chop marks and placement are important to eye appeal witch is all subjective anyway.
on the ground on a metal roofing panel. They were trying to barter with natives to buy them.
<< <i>check out the pictures >>
Or maybe they will want to check out the 1# set from our very own DDR
I love both sets to be honest, amazing difficult coins but together by true fans of the series, good as it gets. When are you going to update your 73p TDN?
Edited to add: I see that set is retired, which is why I haven't updated it. Still have all the coins, tho - including an NGC 'genuine' 1875 chop
<< <i>
<< <i>Personally I don't think chopped T$1's should be assigned monetary values since chopped ones can sell all over the map due to the numerous amount of factors playing into the value. >>
Agreed. It would be quite hard to generalize them for deciding a value, the number of chop marks and placement are important to eye appeal witch is all subjective anyway. >>
This is spot on but maybe an index/range to aide collector. Like a date chart with rarity multipliers
Some coins are worth much more with choice chops, 4x normal
<< <i>Some coins are worth much more with choice chops, 4x normal >>
That 77p went for golly gee willickers money.
Check the right breast on the Obv
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
<< <i>Also not all Chops are easy to see, this one was missed by PCGS and will result in a buy back one day.
Check the right breast on the Obv >>
Sharp eyes, Crypto. Note the description by the auction company extolling the lack of chopmarks. Oops.
<< <i>
<< <i>Also not all Chops are easy to see, this one was missed by PCGS and will result in a buy back one day.
Check the right breast on the Obv >>
Sharp eyes, Crypto. Note the description by the auction company extolling the lack of chopmarks. Oops. >>
I cant take credit as it was our fellow eagle eye trade buddy Tenn Dave. Dave even wrote to HA to tell them only to get told they think it is a strike through basically passing the buck to pcgs in the future while still collecting their cut. A 74cc is worth much more unchopped and if you blow the pic up you can see a perfect circle as part of the mark
Lame
My 74-cc is a lowly choppie:
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.americanlegacycoins.com
As for prices for chopmarked Trade dollars, they are all over the place. In general, for more common coins you can usually usually go down one grade in value for lightly chopped coins and two grades for heavily chopped coins. But that's a very general guideline. For some Trade dollars that are rarely if ever seen chopmarked, like the 75-P and 78-CC, the sky is the limit in terms of value/price.
That 77-P went for insane money. I know, I bid on it and lost out.
Complete Set of Chopmarked Trade Dollars
Carson City Silver Dollars Complete 1870-1893http://www.pcgs.com/setregistry/showcase.aspx?sc=2722"
<< <i>I would not have paid that for the 77. My MS61 cost me like $400 >>
To be fair to who ever the present owner is, I am sure there have been quite a few coins purchased by you that (similar/same) sold for many multiples later down the road. Although 4k reeks of a bidding war