The large production of trade dollars at the San Francisco Mint in 1875 does not reflect an increased demand for export. Rather, it was prompted by the falling price of silver which made it very profitable to have trade dollars coined at their bullion value and then put into circulation at their face value. Since the price of silver fell steadily after 1873 this practice only grew into a lucrative racket that would result in the trade dollar losing its domestic legal tender status in 1876. Though it is not the most common trade dollar in overall numbers, the 1875-S issue is the one having the greatest population of certified gems. As such it is a favorite of type collectors.

 

As with the 1875-CC trade dollar, new reverse dies having the modified, Type 2 reverse were not put into the presses until late in the year. Type 2 coins are scarce in a relative sense but not rare in total numbers. The standout varieties for this entry are the two reverse dies featuring the S mintmark punched over remnants of a CC mintmark. The more obvious of these dies (FS-501) has been known for many years and is illustrated in popular guide books. A more recent discovery is FS-502, on which the underlying CC is rather faint. Catalog prices are for the former. Both reverses may be found with two sizes/styles of mintmark. The only scarce combination is the Type 2 reverse with a Micro S, but all are sought by specialists.