The coin is one of the dollars coins struck to celebrate peace after the First World War. It features a shiny silver luster, a reeded edge, and contains 90% pure silver. Although the coin is about a century old by now, some uncirculated silver dollars still depict the brilliant silver luster from the mint. They form part of the rare gem that every numismatist would wish to have.
The 1928 Peace Silver Dollar value is at $22.60. It contains 0.7735 ounces of silver content whose melt value is about $17.25
Here we explore the antique 1928 Peace Silver Dollar and its subtle features. We also help you to understand how to grade your coin for higher prices at the pawnshop.
What is 1928 Peace Silver Dollar?
The 1928 silver is a single dollar coin, made of 90% silver, and whose obverse portrait resembles the Liberty statue in New York. The coin’s designer was the famous sculptor Anthony de Francisci.
History of the 1928 Peace Silver Dollar
Most peace dollar coins circulated from 1921-1928 and 1934-1935. The US mints officially struck and issued the 1928 peace dollar in the year 1928.
The coin has a rich history dating back to 1920 when the United States mint commissioned sculptor Anthony de Francisci to design a new silver dollar coin that would replace the Morgan dollars. After the passage of the 1918 Pittman Act, the US mint was under pressure to buy excess silver bullion and produce about 350,000,000 silver legal tenders. So, in 1921, numismatists lobbied for a silver coin to commemorate the peace after the world war.
He invented a design that not only appealed to the users but also reflected a modern look. Anthony’s invention’s core was the urgent need to pay tribute to the prevailing peace after a global war. On December 28, 1921, the US mint struck the first peace silver dollar. Other silver dollar series followed, including the 1928 version.
Reason for Minting
Similar to other peace silver coins, the 1928 peace dollar is symbolic of the country’s peace. It followed a renewed push for a coin commemorating the end of the First World War and the peace enjoyed after the war. During an annual conference of the American Numismatic Association, Farran Zerbe, a famous coin collector, presented his petition for the proposed design.
He received backing from other coin collectors and numismatists who expressed a similar view. After massive lobbying from the public, a Peace silver dollar finally came out of two US mints in 1928. Incredibly, 1928 marks an important date since the main mint had the least mintage of only 360,649 peace silver dollars.
Two mints struck the 1928 peace silver dollar. The San Francisco branch mint struck 1,632,000 peace dollars while Philadelphia struck 360,649. In total, both mints struck 1,992,649 peace dollars that year.
Features of the 1928 Peace Silver Dollar
The 1928 peace silver is a large, beautiful coin known for its iconic design. Sculptor Anthony de Francisci used the inspiration of his wife’s bust for the coin’s portrait.
In addition, the coin bears the following subtle features:
The obverse features a profile bust of a youthful lady facing left. She wears a crown with glowing rays that emerge from her head. A hairband neatly winds her hair waves at the back of her head, although a few hair strands hang downward.
Over the lady’s head is a block-lettered word “LIBERTY’ written along the upper margin. Along the lower margin is the year of issue (1928), also written in block letters.
Slightly below the lady’s chin is another block text, “IN GOD WE TRVST” and the sculptor’s initials (AF) in small fonts below the lady’s neck.
The reverse features a perched, bald eagle at the center of the coin. The eagle faces right, with a set of olive branches protruding from its talons. Above the bald eagle are two inscriptions in block letters: “UNITED STATES OF AMERICA” and “E PLURIBUS UNUM.” Both descriptions run along the coin’s upper rim. In addition, a dot separates the first two words in the Latin phrase.
The word “PEACE” is in block letters along the lower rim. A set of arrows radiate from where the eagle perches and spread in several directions.
Nearly all peace silver dollars designed by Anthony de Francisci have slogans, and the 1928 series is no exception. A closer look at the coin will help you spot the following slogans:
Liberty is an important principle used in most US coins as a symbol of freedom for a long time.
IN GOD WE TRVST
It is an expression of the religious sentiments and beliefs of the people of America. However, in the dollar series, the letter “V” appears in place of “U” in the word “TRUST.” According to coin experts, it is not a mistake but an intentional design to symbolize the victory obtained by the US and its allies after the First World War.
E PLURIBUS UNUM
The three words represent a Latin phrase that stands for: out of many, one. It is a strong affirmation that the nation of America consists of multiple states.
The 1928 silver dollar was a commemorative for peace after a great war. Therefore, De Francisci’ used the word to convey the message of peace.
As a rule, the US main mint at Philadelphia struck the 1928 peace coin without a mintmark. However, coins struck at the San Francisco mint have a mint mark “S.” To locate the mint mark, look at the reverse of the coin, below the word ‘ONE.’
The 1928 silver coin consists of two primary metals: silver (90%) and copper (10%).
Weight and Dimensions
The coin weighs 26.73 grams and has a diameter of 38.5 mm
1928 Peace Silver Dollar Value
The 1928 silver has value as silver bullion and precious collectible. So, whether you are trading the coin for its numismatic value or silver melt value, be sure to earn some cash.
Here is how the coin is currently trading:
The coin is worth a single dollar at face value, hence “ONE DOLLAR” at the reverse side.
How Much is the Metal in 1928 Peace Silver Dollar Worth?
The 1928 peace silver dollar contains 0.7735 ounces of silver content. The current spot price for silver dollar stands at $22.60. Therefore, the currency has a silver melt value of $17.25. The melt value for the coin is not a fixed price because it depends on the metal spot price.
How Much is the Coin at the Pawnshop?
At a pawn shop, pawnbrokers will value your circulated silver coin for at least its weight in silver. In ‘Very Fine’ condition, your silver dollar can fetch $275 and about $300 in Extremely Fine condition. An uncirculated MS 65 silver coin brings $2,500 or more. However, a certified MS+ grade of 1928 peace silver worth $3,500 at a public auction.
Table Showing the 1928 Peace Silver Dollar Value
Factors that Determine the Value of the Coin
The US mints struck only a limited quantity of the 1928 silver dollar series. As a result, 1928 is a sought-after date series of the coin in uncirculated condition. The key to a high value is to preserve the significant features of the currency in its original condition.
Below are two main factors that determine the value of the coin:
The mint mark is a unique feature that tells the origin of the mint that struck the coin. The 1928 series has an exceptional rarity of coins struck at the main mint. The Philadelphia mint only struck 360,649 pieces of the silver coin.
Therefore, a coin that bears no mint mark is highly valued by coin collectors. If you have them hidden somewhere, you can exchange your silver dollars for a decent profit.
A comprehensive grading of your coin will help you determine its current value. A certified numismatist will take a closer look at its features to determine its condition. A physical inspection focuses on critical aspects like imagery, text, color, and luster.
Based on its condition, the coin will have an assigned grade as follows:
An uncirculated 1928 Peace Dollar has no visible physical wear. Despite being almost a century old, it looks as if it is fresh from the mint. Using a magnifying glass, a closer inspection on both the obverse and reverse sides reveals no signs of worn-out texts and images. The coin also has a strong eye appeal and silver luster.
A lower step features a coin with a silver luster and a few scratches or abrasion marks. It has minor wear on the images and texts, while the bald eagle feels slightly smooth on the reverse side. Despite this, the coin should maintain its crisp appearance.
A coin in this condition has visible but worn-out images and texts. In addition, it features a dull luster and visible signs of wear.
The lowest cadre of grading 1928 Peace Silver features apparent and significant wear out of critical features. It may be difficult to identify its multiple segments using naked eyes. Hence, you will require a magnifying glass.
The video below shows how to grade Peace Silver Dollar Coins:
1. How Rare Is a 1928 Peace Dollar?
The 1928 Peace Silver Dollar is a rare coin with a mintage of slightly below two million. The 1928 series (no mint mark) is an exceptional rarity, with only 360,649 struck. Therefore, the year 1928 is a highly sought-after key date of the peace dollars.
2. Is the 1928 Peace Silver Dollar Still Circulating?
The peace dollar was in active circulation as a legal tender between 1921-1928, 1934, and 1935. However, on January 5, 2021, the retired president signed legislation to allow the treasury to issue the silver dollar as a commemorative currency.
3. What Makes 1928 Peace Silver Rare?
An uncirculated 1928 Peace Silver is a rare and valuable coin. It has no wear on both surfaces and retains an original silver mint luster.
Winding Up: Is the 1928 Peace Silver Dollar Worth it?
The 1928 Silver Dollar has high value thanks to its low mintage. As a result, the coin’s value consistently exceeds $400 in pristine conditions. Since its design as a peace icon in 1909, many coin collectors prefer the silver coin. Having a high grade and a rare mint can guarantee you high profits. For inquiries on how to grade your coin, do not hesitate to contact us.