The 1928-S Peace Dollar is one of the most sought-after coins in the Peace Dollar series. This coin, minted at the San Francisco Mint, holds historical and numismatic significance, making it highly desirable to collectors today. Whether you’re new to coin collecting or a seasoned expert, understanding the value and features of the 1928-S Peace Dollar can help you identify and appreciate this remarkable piece of American history.
Background and History of the 1928-S Peace Dollar
The Peace Dollar was introduced in 1921 to celebrate the end of World War I and symbolize peace. It replaced the Morgan Dollar, which had been minted for decades. The 1928-S Peace Dollar was the last coin produced in the series before production was halted temporarily due to a silver shortage caused by the Pittman Act. This Act led to the melting of millions of silver coins for use as bullion, leaving the U.S. Mint with limited resources to continue minting the Peace Dollar.
A total of 1,632,000 1928-S Peace Dollars were struck, but their rarity today lies in the fact that many of these coins were struck poorly, with soft details, especially on the reverse side. This has made higher-quality 1928-S Peace Dollars very valuable to collectors.
Minting and Rarity
The 1928-S Peace Dollar is rare in high-grade conditions. The San Francisco Mint, where it was produced, had difficulty striking the coins with clear, well-defined details. As a result, many of the 1928-S Peace Dollars have soft features, especially on the eagle and olive branch designs on the reverse.
Coins in top condition, particularly those graded MS64 or MS65, are extremely rare and highly prized. A coin in MS65+ condition can fetch over $50,000 at auction due to its rarity and high demand among collectors. While the 1928-S is not as rare as the 1928 Philadelphia Mint issue, it still commands high prices for coins in excellent condition.
Design and Features
The 1928-S Peace Dollar features the design of Anthony de Francisci. On the obverse, Lady Liberty is depicted facing left, wearing a crown of rays, which is similar to the Statue of Liberty. The words “LIBERTY” are engraved across the top, and “IN GOD WE TRUST” is written below.
On the reverse, the coin displays a powerful symbol of peace: an eagle perched on a rock, holding an olive branch in its talons. The word “PEACE” is engraved below, symbolizing the coin’s purpose to celebrate the end of war and the hope for a peaceful future. The mintmark “S” is located beneath the word “ONE” on the reverse side, indicating the coin was minted in San Francisco.
Key Characteristics of the 1928-S Peace Dollar
| Feature | Description |
|---|---|
| Mintage | 1,632,000 coins |
| Metal Composition | .900 Silver, .100 Copper |
| Weight | 26.73 grams |
| Diameter | 38.10 mm |
| Edge | Reeded |
| Design | Obverse: Lady Liberty; Reverse: Eagle and Olive Branch |
Current Market Value and Collectibility
The value of the 1928-S Peace Dollar varies based on its condition. In lower grades (MS63 and MS64), the coin generally sells for around $700 to $1,500. However, coins in pristine condition, such as those graded MS65 or higher, can be worth much more. A coin graded MS65+ sold for over $55,000 in 2019, highlighting the high demand for this rare coin.
Additionally, certain varieties of the 1928-S, such as the VAM 3 and VAM 3A, feature doubled die errors on the reverse and can significantly increase the value of the coin.
Conclusion
The 1928-S Peace Dollar is a rare and valuable coin that holds both historical and numismatic significance. Whether you’re an experienced coin collector or just starting out, owning a high-quality 1928-S Peace Dollar can be a great investment. Its unique design, historical background, and rarity make it a must-have for any serious collector.
With careful attention to the coin’s condition, mintmark, and possible errors, collectors can identify a treasure in the 1928-S Peace Dollar that holds both beauty and value. Whether for investment or collection purposes, this iconic coin is worth paying attention to in the world of numismatics.
FAQ’s
What makes the 1928-S Peace Dollar so valuable?
The 1928-S Peace Dollar is valuable because it has a low mintage and is rare in high grades. Many of these coins were struck poorly, with soft details, making well-preserved examples highly sought after by collectors.
How can I tell if my 1928-S Peace Dollar is worth more?
The value of your 1928-S Peace Dollar depends on its condition. Coins in higher grades, such as MS64 or MS65, are much more valuable. Coins with errors or rare varieties, like VAM 3, can also increase the coin’s value.
What is the current market value of a 1928-S Peace Dollar?
The value of a 1928-S Peace Dollar can range from $700 to over $50,000 depending on its condition. High-quality coins graded MS65 or higher can sell for tens of thousands of dollars at auction.