Interesting question for Trade dollar fans

[RogerB]

Came across this letter today. Have not found the answer -- yet.

April 23, 1878

Hon. H. R. Linderman
Director of the Mint
Washington, D.C.

Sir:
The enclosed letter from David Baldwin, Treasurer of the Savings Bank of Baltimore, raises the question whether we can receive Trade dollars over the counter by weight as bullion, and pay for the same at the London rate in standard silver dollars or in gold coin at ½-a cent per ounce below fine, below the London rate. As Trade dollars are not coin in the technical meaning of the term but merely stamped bullion, then it would seem to be no legal impropriety in treating the as bullion.
Please return Mr. Baldwin’s letter with direction for my guidance in this and similar cases.
Very respectfully,
James Pollock, Superintendent