1928-S Peace Silver Dollar
Circulation strike struck at the San Francisco Mint · 1,632,000 made
- Mintage
- 1,632,000
- Metal
- 90% silver, 10% copper
- Weight
- 26.73 g
- Diameter
- 38.1 mm
Original illustration. Tap to flip. Not a photograph of the actual coin.
Face value · Metal value · Small premium · Collector premium · Significant rarity. We use bands because prices change daily.
What is a 1928-S Peace Silver Dollar worth?
Collectors pay a real premium for this date, worn or not, because far fewer were made than usual. Uncirculated pieces go much higher.
What would make yours worth more:
- Uncirculated condition with full original luster
- A die variety or minting error
- Certification by PCGS or NGC, which buyers expect for scarce dates
For market prices, check recent sold results for certified coins in the same grade.
Quick answers
- Is the 1928-S Peace Silver Dollar rare?
- Somewhat. 1,632,000 were made, fewer than most dates, so collectors treat it as a semi-key.
- Is the 1928-S Peace Silver Dollar silver?
- Yes. It's 90% silver, 10% copper and holds 0.7735 troy ounces of pure silver.
- Where is the mint mark on a 1928 Peace Silver Dollar?
- On the reverse, below the word ONE, near the tip of the eagle's wing. Philadelphia coins have no mint mark. On this coin the mark is S, for San Francisco.
- Which San Francisco dates near 1928 are scarcer?
- The 1927-S at 866,000, the 1925-S at 1,610,000. So the 1928-S is on the scarcer side for those years.
- How many 1928-S Peace Silver Dollar coins were made?
- 1,632,000.
What to check on your 1928-S
- Make sure the mint mark really is an S. A worn or filled mark can be misread. It's what separates your coin from the 1928 (360,649 made).
- Don't clean it. Cleaning leaves fine scratches and an unnatural shine that collectors avoid.
- Judge the grade under good light. Wear appears first on the hair above Liberty's ear and on the eagle's wing feathers.
Never clean it. Collectors pay strong premiums for original surfaces and natural toning on a date like this. A cleaned coin can lose half its value or more.
The story of the 1928-S
Output at San Francisco climbed to 1,632,000 in 1928, from 866,000 the year before. After that, San Francisco didn't make another until 1934.
It was the big producer of the year, well ahead of 1928 (360,649). In the whole series, its mintage sits closest to the 1925-S (1,610,000) and the 1935 (1,576,000).
San Francisco struck the Peace Silver Dollar in 9 issues between 1922 and 1935. By mintage this one lands in the scarcer half, while the key for that mint is the 1927-S (866,000). Within the 1920s it's 7th smallest of 19, between the 1925-S (1.6 million) and the 1924-S (1.7 million).
More on the 1928-S
San Francisco's 1,632,000 coins were more than four times Philadelphia's 360,649 for 1928, so in worn grades the 1928-S is the easier coin to find. Many people assume any 1928 is the key, but the S changes the story. It was also San Francisco's last Peace dollar until 1934. Its figure was nearly double San Francisco's 866,000 of 1927.
In high grades the picture flips. The 1928-S is one of the toughest Peace dollars to find as a gem, with soft strikes and heavy bag marks the norm. For collectors who chase condition, that makes it one of the few dates where the branch coin can outrank the low-mintage Philadelphia issue. Look closely at the S below ONE, then check the center of the coin: weak detail in Liberty's hair and on the eagle is typical. Circulated examples sell close to their silver value, with a small premium on top. A lustrous, well struck 1928-S carries a strong collector premium. True gems sit firmly in significant rarity territory.
Pittman Act coinage winds down (1923 to 1928)
Peace dollars continued in large numbers to replace the coins melted under the Pittman Act, with Philadelphia striking 30.8 million in 1923. Output fell after that year. San Francisco's 1924-S and 1925-S, each under two million, are scarce in high grades. Denver made no dollars in 1924 or 1925.
The 1927 issues from all three mints are relatively scarce. The 1928 from Philadelphia, with only 360,649 struck, is the lowest mintage of the series and is often confused with the more common 1928-S. Pittman purchases were complete in 1928 and coinage stopped. San Francisco dollars of these years are often softly struck. Many survivors show heavy bag marks from storage in Treasury vaults. Bags of Peace dollars also emerged in the Treasury releases of the early 1960s.
Elsewhere in US coinage in 1928
The Peace dollar was struck only in Philadelphia and San Francisco. The Philadelphia figure of 360,649 is the lowest of the series.
How to recognize it
Anthony de Francisci's Liberty faces left wearing a crown of light rays, with LIBERTY above and the date below. The reverse shows an eagle at rest on a mountaintop, holding an olive branch, as the sun rises behind it, with the word PEACE on the rock. The mint mark is below the word ONE, near the tip of the eagle's wing.
Mintage chart
Specifications
| Series | Peace Silver Dollar (1921–present) |
|---|---|
| Year | 1928 |
| Mint | San Francisco Mint |
| Mint mark | "S" |
| Strike type | Circulation strike |
| Mintage | 1,632,000 |
| Face value | $1 |
| Composition | 90% silver, 10% copper |
| Weight | 26.73 grams |
| Diameter | 38.1 mm |
| Edge | Reeded |
| Silver content | 0.7735 troy oz (24.057 g) |
| Designer | Anthony de Francisci |
Other 1928 Peace Silver Dollar issues
| Coin | Mintage | Type | Silver |
|---|---|---|---|
| 1928 Peace Silver Dollar | 360,649 | Circulation strike | 0.7735 oz |
| 1928-S Peace Silver Dollar | 1,632,000 | Circulation strike | 0.7735 oz |
Mintage: Peace dollar (Wikipedia, CC BY-SA 4.0), compiled from US Mint records and the Guide Book of United States Coins. How we build these pages.