Trade dollars are silver coins minted as trade coins by various countries to facilitate trade with China and the Orient. They all approximated in weight and fineness to the Spanish dollar, which had set the standard for a de facto common currency for trade in the Far East. History The existence of trade dollars came about because of the popularity of the silver Spanish dollar in the Far East, such as in China, East Asia, and the East Indies. Following the establishment of Spanish Philippines, Manila (in the modern area of Intramuros) became an entrepôt for Chinese goods in one direction and Spanish silver dollar, from across the Pacific to the Spanish-held mints and silver mines of Mexico, Peru, and Bolivia, in the other. The Manila-Acapulco Galleon Trade, led from the 16th Century onwards to the wide circulation of "pieces of eight" as a standard of trade in the Far East. The high regard in which these coins came to be held, led to the minting of the silver Chinese yuan, a coin designed to resemble the Spanish one. These Chinese "dragon dollars" not only circulated in China, but together with original coins of Spanish-Mexican origin became the preferred currency of trade between China and its neighbours. Defeated in the First Opium War, China was forced to open its ports to foreign trade, and in the late half of the 19th Century Western nations trading with China found it cheaper and more expedient to mint their own coins, from their own supplies of silver, than to continue to use coins from Mexican sources. These so-called trade dollars would approximate in specification, weight 7 mace and 2 candareens (approx. 27.2 grams; troy ounce) and fineness .900 (90%), the Spanish-Mexican coins so long trusted and valued in China. France To control the money supply in French Indochina in 1885, the French introduced a new silver Piastre de commerce and associated subsidiary coinage throughout the entire Indo-Chinese colonies in order to increase monetary stability. The piastre was initially equivalent to the Mexican peso. The piastre was therefore a direct lineal descendant of the Spanish pieces of eight that had been brought to the Orient from Mexico on the Manila Galleons. It was initially on a silver standard of 1 piastre = 24.4935 grams pure silver. This was reduced to 24.3 grams in 1895. Japan The Japanese Trade Dollar was a dollar coin, issued