A High Grade MS65 British Trade Dollar Year 1902 !!??!!

This listing was found on ebay.
http://www.ebay.com.my/itm/1902-UK-trade-dollar-NGC-MS65-/321135919346?pt=US_World_Coins&hash=item4ac53140f2&_uhb=1#ht_500wt_923 (when link broken means listing has ended)

It is a NGC graded MS65 British trade dollar.
It is verifyable at NGC coin verification site.

The price quote is standard price for a MS65 coins.
Though NGC must have their reasons for giving a MS65 grade.
Would you be buying this coin??

It may be a MS65 coins, but personally i think the coin is lacking the eye appeals.
I would rather keep a nice lusters coin then this "superbly toned coin."
Nevertheless, i admit that I do have personal liking to a coloured and rainbow toned coin, but not of this type.
This remains a personal opinion.

What you think??

British Trade Dollars as ornamental belt

Have you ever wondered how come there is a little hook attached to some of these silver coins ?

They are mostly for ornamental purpose.

In the land of Borneo Island, the traditional tribes there likes to use these big silver coins as belt. It is used in their traditional dance.

A fine example is like this:

Note of thanks to Mr BK Lau for use of this image.

In the example above, the hook is at the sides --> joined into a belt.

In the example below, the hook is attached at 12 o clock; this type is usually attached to a chain for use as pendent.

And... How about this piece:  An original nice pendent.

Special thanks to Mr Bk Lau (used with consent)
http://www.ebay.com.my/itm/British-Trade-Dollar-Pendant-/251288156020?pt=LH_DefaultDomain_207&hash=item3a81f0f774&_uhb=1#ht_500wt_1156

The History of Trade Dollars in late 1800 and the Birth of British Trade Dollars

Trading in the Late 1800 to Early 1900

The silver British Dollar (commonly called the trade dollar) was born out of commercial necessity. It was issued at a time when the burgeoning trade in the East needed a medium of payment.

At the end of the 19th centuries,  an over-production of silver caused an upset in the goldsilver ratio, an extremely serious situation because many countries in the East used silver to back their currencies. As the price of silver plummeted the shortage of minted dollars became worse. Moreover, it became evident that trade was being dislocated as a result.

Silver price drop in between 1880s to 1910s affected trading

By the time the British dollar made its appearance there were already several other "trade dollars" on the market. The most common of them was the Mexican silver dollar-the famous eight reale,0.900 fine silver coin which was minted as early as 1824. This was followed by the United States trade dollar of 420 grains of 0.900 fine silver minted between 1873 and 1883, the Japanese trade dollar of similar weight and fineness minted between 1875 and 1877, and the French "Piastre de Commerce" which came in two weights, i.e. 27.215 grams (minted between 1885 and 1895) and 27 grams (minted between 1895 and 1928).

The Expansion of British Empire

By the middle of the nineteenth century the British presence in the East was being keenly felt. The Straits Settlements, established to link the now-defunct British East India Company's outposts of Penang, Malacca and Singapore, were beginning to flourish as important centres of trade in the Malay Archipelago. 

In 1842, with the signing of the Treaty of Nanking, China, having lost the Opium War, ceded the "barren" island of Hong Kong to the British in perpetuity and opened up five coastal cities (subsequently called the "Treaty Ports") to foreign trade. In 1859, the Suez Canal was opened, thereby shortening the sea between Europe and Asia by several months. In 1869, Japan was launched in to the golden age of the Meiji period which saw the lifting of restrictions on foreign trade.

It is therefore spawned the problem of finding a suitable currency for the heightened commercial activities. It began to occupy the urgent attention of local authorities who were urged on by merchants-particularly those in the Straits Settlements and Hong Kong- who began sending petition after petition for the introduction of an acceptable coin that would circulate easily in the silver-using countries of the East.It the end, to overcome the real threat of a currency famine, the British government, on the suggestion of the Colonial Currency Committee, approved the minting of a special British dollar for use in the Eastern trade.

The British Trade Dollar

  

In concept and purpose the British dollar-which came in only one denomination-was exactly the same as the Portcullis money of the early 1600s and was even issued by the same authority, i.e. the Royal Prerogative of the English sovereign.  

The coins was grain-edged, had a diameter of 39 cm and was struck in 26.95 grams (416 grains) of 0.900 fine silver. The dies were prepared by London Royal Mint engraver G W De Saulles. Three mints participated in the minting of the coins - the Indian Government Mints at Bombay and Calcutta as well as the Royal Mint in London.

But unlike the coinage of the realm, the dollar was not given a fixed sterling value; its value fluctuated according to the prices of silver at any given date.

The British dollar was declared legal tender on February 2, 1895 by an Order of Council in the Straits Settlements, Hong Kong and Labuan (off the north-west coast of British North Borneo). Although it was minted till 1935, the British dollar was quite quickly demonetised, fist in the Straits Settlements in 1904 and then in Labuan in 1905. But it continued to remain as legal tender in Hong Kong until 1937, at the outbreak of the second Sino-Japanese War of 1937-45.

After that it lost its legal circulation status and was merchandised. Anyway, the coins struck in 1934 and 1935 were generally not released for circulation.

Original Source : Coin Digest.Ng L.K. Ewe.
Modified with approval from Mr Dickson at http://dniewcollectors.blogspot.com

British Trade Dollar Year 1903 - 2 variants with interesting overdates

British trade dollar 1903 has 2 variants.

It is only minted from the bombay mint.

Therefore it has only the 1903B mint mark coins.

The other variant is the overdate of 1903/02

It recorded a total mintage of 3,955,647.

This makes this coin a scarcer coin

Variant 1 : British Trade Dollar 1903 B

This coin is puporsely chosen for display. The usual B mint mark at the prong.
However the mirror like surface with a normal luster is not usual.
This is a cleaned coin -- where the luster is lost
But the high grade details are preserved but it just not natural.
My camera has difficulty focus it sharp due to the reflection

The reverse

Variant 2: The Overdate 1903 over 02 B

Some 1903 can easily mistaken as overdates.
The trick to is to look for the long body of 2 underneath the 3.

British Trade Dollar Year 1902 - One unique Retooled Date is extremely rare

British trade dollar year 1902 has 3 varieties
It is produced in India Bombay mint with a B mint mark and Calcutta Mint with a C mint mark.

The recorded mintage are 30,404,499 for 1902 B and 1,266,618 for 1902C.
The 30 million plus 1902 B makes this one of the commonest BTD in the market

However 1902C is a rare variety.
The C mint mark is only present for 3 years namely 1900C,1901C and 1902C

The third variety is essentially a retooled die.
It is graded by NGC as 1902/2B
This variety if found is rare and beginner collectors usually not aware of its existence

Variety 1: British Trade Dollar 1902 B
This is the commonest variety

The usual 1902 B.
Purposely selected some irregularly toned coin for display.
This is due to mishandling. Most likely captured vapour in coin flip.
This stresses the importance of proper handling and care for coins

The reverse

Variety 2: British Trade Dollar 1902 C
This is rare variant
This coin is high grade coins which showed the C mint mark clearly.

The flat prong area and C mint mark.
This is high valued coin at its high grade.

Variety 3: British Trade Dollar 1902 /2 B 
This is a retooled die.
Looking closer at the date section, you will see the "2" has been repaired and the old shadows of 2 is hidden next to the printed digit on the die.

This is a retooled die. Very rare variants.
the 1902 is practically double shadowed.
However NGC grade this coin as 1902/2 in the census

British Trade Dollar Year 1901 (Unique overdate)

British trade dollar 1901 also has 3 varieties.
It recorded a total mintage of 25,684,791 from Bombay mint,
While 1901 C from calcutta mint recorded 1,513,685

The 1901 B is the common type
The 1901 C is the rare type with fewer mintage.
The third type is 1901 B over 1900 which has unknown mintage, this is also rare

Variety 1: British Trade Dollar 1901 B
This is the common type from Bombay Mint
The B can be seen at the center of the prong
This is commonly seen in the market

The NGC Au details 1901 B coin.

Variety 2: British Trade Dollar 1901 C
This is rare type, but still able to be found in open market
It fetches a higher price.
The C is located at the side of the Britannia and the shield

A high grade 1901C. C mint mark can be seen clearly

Variety 3: Over date 1901 B over 1900
This is the rare type.
It is harder to find in the market, but still relatively easier to find if compared to other overdates coin.

shadow of old 0 on the 1 (4th digit)

British Trade Dollar Year 1899 (A high mintage common date)

British Trade Dollar Year 1899 is one of the commonest issue for this coin
It recorded the second highest mintage of 30,743,159
Please click here to see the full mintage table for British Trade Dollar

It has only one variety, i.e. 1899 (B)
It is produced from Bombay Mint in India.

The B inscription can be seen on the center of the trident prong.

As with the 1898 coin, this coin also comes from the safe box.
This coin is a lot better than the 1898. It has less scratched hairlines and better details

British Trade Dollar Year 1898 (Getting Scarce)

British Trade Dollar 1898 is a forth year issue.
This is a common date coin with a rather big mintage.

It recorded a total mintage of 21,545,564
This year British Trade Dollar has 2 varieties
Variety one: 1898 B from Bombay Mint
This is a commoner type of the 2.
B mint mark can be seen at the prong.
Compared to earlier years of 1895, 1896 and 1897.
The "B" can be seen more clearly for the subsequent year coins from 1898.
It also not as easily worn off (disappear).

This coin is came from a safety box that was cut open.
These coins is believed to be in the safe for decades.
The green spots are the old safe box paint.
The relative uncirculated nature of the coin shows the glorious luster.

Variety two: 1898 no mint mark
This variety is scarcer
It is minted from Calcutta Mint
The prong area is clean and flat.

Prong area is flat, no B

For British Trade Dollar year 1895, 1897, 1898; despite minted by Calcutta mint, there is no "C" mark on the side of the Brittania. The "C" mint mark only appears on british trade dollar minted on 1900, 1901 and 1902.

This type of no mint mark on prong variety is also seen on year 1925, 1929 and 1930 British Trade Dollar. However, for these 3 years, these no mint mark British Trade Dollars were minted by London Mint and not Calcutta Mint.

The most unique of all is 1900 no C, no B variety which is very rare.

British Trade Dollar Year 1897 (Getting Scarce)

British Trade Dollar year 1897 is the third year issue.
It has a large mintage of 21,286,427.
Please click here for full mintage table for BTD

There are 3 varieties of British Trade Dollar in 1897.
Exact amount for each varieties is unknown. As the 21 million quoted is a combined total mintage.

Variety One is 1897(B)
British trade dollar with a Bombay Mint Mark.
This is the commonest type.  Despite the big mintage of 21 million, 1897 British Trade dollar is a scarcer date.

This coin has good details of at least AU.
B mint mark can be seen at the prong.
However the unequal luster raised suspicion of this coin has been mildly dipped before.

The reverse also has uneven luster

Variety Two is 1897 no mintmark
This 1897 coin has no mint mark at the trident prong.
It is minted by Calcutta Mint.
This is the scarcer type to find in the market.

The prong area is flat. Without B mint mark.
There is no C mintmark as well for year 1895,1897 and 1898 coins although they are from calcutta mint
C mint mark only seen on coin struck on 1900,1901 and 1902.

Variety Three is 1897 overdate on 1896 coins
This overdate variety is one of the very rare type.
The "7" can be seen overstruck on a deleted "6" on the 1897 at the bottom of the Britannia.
In older days, is is costly and time consuming to reproduce a new die for coin manufacturing.

One of easiest way to produce a change in year on the coin, is using the old die for the previous year i.e.1896 and retooled the "6" into "7" which is the current year. This type of coin is called Overdate coins.

The overdate is seen at the 1897. 6 shadow is behind the 7

The existence of overdate for 1897/96 is not difficult to see, as the mintage jumped from 6 million for 1896 BTD to becomes 21 millions BTD in 1897. Hence there is a need for more die available for the increase in production.

The existence of overdates is also one of the interesting aspects of collecting British Trade Dollars.
These overdates has no known populations on its own, but it is generally very rare and difficult to find.

British Trade Dollar 1900 (Unique Year with 5 Varieties)

It is a pleasure to collect British Trade Dollar 1900. It takes a long time to complete a set of 5 varieties.
Some of the variants are very rare and considered as error coins.
There is a total of 9,106,619 british trade dollar minted for year 1900.
There is a subquoted amount of 363,372 coins minted for 1900 No B No C Variety, which is very rare.
Please click here for full BTD mintage table.


Variety 1: British trade dollar 1900 B
This is the Bombay mint coin. The commonest and usual type.
The B mint mark can be seen at the trident prong area.

The commonest variant with B at the center of the prong

The reverse of all the BTD are soimilar

Variety 2: British Trade Dollar 1900 C
For year 1900,1901 and 1902 British trade dollar minted from Calcutta.
There is a C mint mark at the space next to the outer side of the Brittania left leg and the shield.
This C mint mark indicates the Calcutta mint.
The usual trident prong area is flat and no mint mark.

This VF coins has the C mint mark preserved.
1900C has the highers value, followed by 1902C and then 1901C

The C mint mark is easily worn off as well after moderate circulation. The flat trident prong area may be the indication left for this type of coin.

Variety 3: British Trade Dollar 1900 No B No C
This variety recorded a quoted amount of 363,372 and is among the rarest.
This is difficult to find.
It is believed to be from Bombay mint, however the die containing the mint mark has worn off.
Hence it produced a special type (error variant) where the B mint mark is not seen at the trident prong.
The whole mint mark area at the prong is empty within. Left with a diamond shaped rim.
It is not C mint coin as well as the trident prong area is not flat and there is no C mark at the side of Britannia.

This fairly high grade coin has the usual diamond shaped at the prong
But the B is missing.
It is also different from 1900C where the prong is area is flat

One word of caution in getting this type of coins is the collector must get a fairly high grade coin in order to appreciate the empty mint mark area. Many 1900B with fair amount of circulation might have the B mint mark wearing off and give an impression of a 1900 No B No C mint mark coin.

As in this coin... is the B worn out or it is a no B no C variant.

Variety 4: British Trade Dollar 1900 over 1890 Overdate Variety
Year 1900 is at the turn of the century and this produced an unique overdate coins where 3 characters are changed on the original die.
This overdate variety is one of the rarest to find.
The overdates is not easy to identify and takes a bit of effort to make up.

The  overdates are not meant to be seen clearly.They are retooled to the current year date which is 1900. The 1890 at the background is the erased shadow.
Generally for the 1900/890 coin, the 9 over 8 is clearer to be seen. meanwhile the 0 over the 9 is very faint, but you can see the 9 tail shadow on the background.

The 8 shadow is seen behind the 9.
The original 9 shadow is behind the 0 (look for the tail of the 9)

Another intriguing thing of this overdate coin is 1890 coin does not exist.

Variety 5: British Trade Dollar 1900 over 1900 (based on KN Boon catalogue) or it also known as 1900 over 1000 (NGC census)  
This coin is also very rare variety.
It is probably a retooled die where the original die has worned out and the engraver recrafted the dates.
The coin showed a double shadow of 1900.
This coin is very difficult to find in the market,

There is shadows over the 9 and the 2 zeros.

End...
Hope you enjoy this post as much as I writing on it.

British Trade Dollar Year 1896 (Difficult year to find)

This is 2nd year issue for British trade dollar.
It has only 1 variety, i,e. 1896 (B) from Bombay mint

It has total mintage of 6,135,617. It is a rare year date.
Please click here for full mintage table and year of issues

Despite recorded double the mintage amount compared to 1895.
1896 BTD is much more difficult to find in the market and fetch a even higher price than 1895.

Same as 1895B, the B mint mark for 1896 is fainter than later years.
It can also easily worn off.

This is AU55 NGC certified coin. Faily good details
B mint mark in the circle is barely visible

The reverse

Compared with this VF coin. The B mint mark has worn out.

British Trade Dollar Year 1895 First Year

This is the inaugural year issue (first year issue).
This is a rare dates year with a mintage of 3,316,036.
There are 2 varieties of British trade dollar for the year 1895.
Please click here for full tables of mintage and years of issue.

The 2 varieties is differ at the mintmark
One is 1895(B), B at the prong indicate Bombay Mint
Another one is 1895 without mintmark from Calcutta Mint (clean prong area)

Compared to other years like 1899, 1900 and the later years, the B mint mark is not that easily seen for 1895. And the 1895B is more difficult to find, most likely the mark has worn off.

This coin is still available and can be found on the market occasionally.

I will not discuss much of the grading as everyone can have different opinions.
Please click here for BTD grading examples.

Variety 1:  1895 no mint mark, a cleaned before coin.

The reverse of the coins with fairly good details. 

 Variety 2: 1895 B - The B mint mark has worn off.

This is NGC certified XF details coin.
The B mint mark of the earlier years are quite easily worn off as in this one, the B only faintly visible

British Trade Dollar MS64 Examples

This is an example for MS64 British Trade Dollar.
Gorgeous Coin.