The 1928-S Peace Dollar is an important coin for collectors, known for its rarity and historical significance. Struck at the San Francisco Mint, this silver dollar has a unique place in the Peace Dollar series. While not the rarest in terms of mintage, its condition makes it a tough find in higher grades, making it a valuable addition to many coin collections.
The History Behind the 1928-S Peace Dollar
In 1928, the United States minted its last Peace Dollar as part of a series that started in 1921. The silver used to make these coins came from the Pittman Act, which required the U.S. Mint to melt down millions of silver dollars and sell the silver to Great Britain. This Act resulted in the minting of new Peace Dollars, including the 1928-S.
However, by 1928, the silver used for the Pittman Act was running out. The U.S. Mint had to stop producing Peace Dollars by April of that year. Despite being one of the more common later years for the series, the 1928-S Peace Dollar is still highly prized due to its weak strikes and lower production numbers compared to other Peace Dollars.
Design Features of the 1928-S Peace Dollar
The design of the 1928-S Peace Dollar is significant for its symbolism of peace. The obverse features a profile of Lady Liberty, with rays from her crown similar to the Statue of Liberty. The reverse shows an American bald eagle perched on a rock, holding an olive branch in its claws, symbolizing peace. The coin’s edge is reeded, and the mintmark “S” for San Francisco is located near the bottom on the reverse.
Key Specifications of the 1928-S Peace Dollar
Here is a quick reference table for the key specifications of the 1928-S Peace Dollar:
| Specification | Details |
|---|---|
| Country of Origin | United States of America |
| Year of Issue | 1928 |
| Denomination | One Dollar (USD) |
| Mintmark | S (San Francisco) |
| Mintage | 1,632,000 |
| Alloy | 90% Silver, 10% Copper |
| Weight | 26.73 grams |
| Diameter | 38.10 mm |
| Edge | Reeded |
| Obverse Designer | Anthony de Francisci |
| Reverse Designer | Anthony de Francisci |
| Quality | Business Strike |
Condition and Rarity of the 1928-S Peace Dollar
While the 1928-S has a relatively large mintage of 1.63 million coins, finding one in good condition can be challenging. Many of these coins were poorly struck, making higher-grade examples rare and valuable. In fact, the coin is especially rare in grades above MS64, with fewer than 100 examples certified as MS65 or higher.
Coins in MS65 condition can fetch high prices, with some reaching up to $55,813 in recent auctions. This makes the 1928-S Peace Dollar a sought-after coin for serious collectors. The coin’s value is also affected by its color and toning, with coins that retain their original luster being more valuable than those that have darkened over time.
Market Data for the 1928-S Peace Dollar
The market for the 1928-S Peace Dollar is active, with prices varying based on condition. Below is a table summarizing some of the price ranges based on coin grades:
| Grade | Price Range (USD) | Remarks |
|---|---|---|
| MS63+ | Under $500 | Common grade, affordable for collectors. |
| MS64 | $700 – $1,500 | Better quality, more expensive. |
| MS64+ | $900 – $2,500 | Higher demand and value. |
| MS65 | $10,000 – $55,813+ | Rare and highly valued in good condition. |
| MS66 | Above $50,000 | Extremely rare, top grade examples. |
Varieties and Special Features
Collectors of the 1928-S Peace Dollar should also keep an eye out for varieties. Two notable varieties are VAM 3 and VAM 3A, both of which feature doubled letters on the motto. These varieties are part of the Top 50 Peace Dollar VAMs and can add significant value to a coin’s price.
Conclusion
The 1928-S Peace Dollar is a unique and significant coin in U.S. history. Despite its relatively high mintage, its rarity in higher grades makes it a valuable coin for collectors. Its historical background, striking design, and condition rarity make it a key piece for anyone interested in collecting U.S. coins.
Collectors looking to add a 1928-S Peace Dollar to their collection should focus on finding coins in the best condition possible, as these are the ones that hold the most value. As with any rare coin, always ensure that you purchase from reputable sources to avoid counterfeit pieces.
FAQ’s
What makes the 1928-S Peace Dollar valuable?
The 1928-S Peace Dollar is valuable due to its limited availability in high-grade conditions. Its weak strikes make well-preserved examples rare, especially in grades above MS64, which drives up its market price.
How many 1928-S Peace Dollars were minted?
A total of 1,632,000 1928-S Peace Dollars were minted, making it one of the more common Peace Dollar years in terms of mintage. However, the weak strikes and scarcity in higher grades contribute to its rarity and value.
What are the key design features of the 1928-S Peace Dollar?
The 1928-S Peace Dollar features a profile of Lady Liberty on the obverse, and an eagle perched on a rock holding an olive branch on the reverse, symbolizing peace. The coin has a reeded edge and the “S” mintmark for the San Francisco Mint.