In 1873, Congress sought to negate the peso's advantage and promote American commerce overseas at the same time by authorizing a new coin called the US Trade Dollar. The Trade Dollar weighed 420 grains (.900 fine), compared to the peso at 416 grains (.903 fine) and the standard silver dollar at 412.5 grains (.900 fine).    
The design on the Trade Dollar depicted Lady Liberty resting on a bale of cotton by the seashore. To her back stands a shock of grain. In her right hand she extends an olive branch, a friendly gesture meant for those on the other side of the Pacific. The reverse shows an eagle with arrows and olive branch in its talons. Below the eagle are the inscriptions“420 GRAINS .900 FINE” and “TRADE DOLLAR”.