A DAM SMITH'S use of the manufacture of pins to illustrate the benefits to efficiency of the division of labor (1776, Book 1, chap. 1) is famous, but there are few references to the subsequent development of the pin trade in the literature. The purpose of this note is to outline the development of the pin trade since Adam smith's reference to it and to place his comments in a new perspective. Pins have changed very little during the two hundred years since Adam Smith wrote about the trade. This makes possible meaningful measurement of long-term changes in labor productivity, which are described later. First, the structure of the trade, which has changed, is outlined. In an appendix the techniques of production, which have also changed, are described.