How Much Is a 1928 Peace Silver Dollar Worth?

One of the most regarded coins produced by the US Mint is the Peace Dollar silver coin. Serious coin enthusiasts and collectors are always trying to purchase the peace silver coin every year because only a small number of the coins were minted within a limited number of years.

The 1928 peace silver dollar coin is one of the prominent years to look out for. Although it is not overly rare, they are often scarce. The silver coins have existed for almost a century now, which means you can expect to see wear and tear on them. Despite that, they are still a great addition to your coin collection.

This guide will cover all you need to know about the 1928 peace silver dollar worth.

Year 1928
Mint Mark No mint mark
Type Peace Dollar
Value $22 – $3500
Face Value One Dollar
Number of Coins Minted 360,000
Edge Reeded
Silver Content 90%
Silver Weight .7735 ounces
Melt Value $16.20

How Much is a 1928 Peace Silver Dollar Worth?

How Much is a 1928 Peace Silver Dollar Worth

A 1928 silver dollar value is between $22 and $3500, depending on the condition and mintmark. The 1928 peace silver is a dollar coin consisting of 90% silver. It also features a reeded edge and a shiny silver luster, more evident in the uncirculated dollars.

The metal in the 1928 peace dollar has a silver melt value of between $16.20 and $17.25. Remember that it isn’t a fixed price because it is based on the metal spot price. If you’re selling your peace dollar at a pawnshop, brokers will value it based on its weight in silver and the luster. In Extremely Fine condition, you can get $300, while in Very Fine condition, it will be worth about $275.

The most valuable 1928 silver dollar is the MS+ grade, worth $3,500 at a public auction. After this is an uncirculated MS 65 1928 peace dollar, which can fetch $2,500 or more. The 1928 peace silver dollar is more valuable than the 1928 S.

1928 is a rare year for the peace dollar, and the Philadelphia mint is even more scarce because not a lot of it was minted. Aside from being scarce, the 1928 peace silver dollar is also significant among collectors because it was one of the silver coins minted to celebrate peace after the end of the First World War.

Series Location Number Mined
1928 Philadelphia 350,649
1928 S San Francisco 1,632,000

History of the 1928 Peace Silver Dollar

The United States Mint officially issued the 1928 liberty silver dollar in 1928. Most peace dollars circulated between 1921 and 1928, from 1934 to 1935. The coin’s history is traced to 1920, when Anthony de Francisci, sculptor, was commissioned by the US Mint to design a new silver dollar coin.

The coin was meant to replace the Morgan dollars. Since the 1918 Pittman Act, there was a lot of pressure on the US Mint to purchase more silver bullion and produce about 350 million silver legal tenders. Then in 1921, coin enthusiasts lobbied the government to make a silver coin that would celebrate the war’s end.

Anthony de Francisci designed the peace silver dollar to have a modern look, and there were different series from 1921. The coin is a sign of peace after war and was struck in two branches: San Francisco mint and Philadelphia mint.

Remember that the Philadelphia mint had the least mintage of the series, making it the rarest peace silver dollars.

Factors that Determine the Value of the Silver Dollar

Although the 1928 silver dollar is a sought-after coin, the value depends on two major factors. The key to selling or buying a peace dollar for high quality is if the important features have been preserved in their original condition.

Here are the factors that determine the 1928 liberty silver dollar value:

Mintmark

A mint mark is a letter under the coin’s date that tells you which US Mint facility it was struck. When there is no mintmark on your coin, this is the main sign that you have the 1928 liberty silver dollar.

The silver peace dollars with no mintmark have a much higher value and are popular among coin collectors. This is because they are rare, as a little over 360,000 pieces were struck.

Condition/Grade

Another way to determine the value of your silver dollar is the grade or condition. A comprehensive grading of your 1928 Morgan silver dollar will indicate its current value. A close inspection is required to figure this out.

When inspecting the coin, you need to consider important aspects like shine, luster, text, and color. Keep on reading to see the different grades.

Grading Conditions of the 1928 Silver Dollars

Whether you’re buying or selling 1928 silver bullions, you need to take your time in inspecting their condition. This is the only way you can accurately determine the value. It’s a good idea to follow images and descriptions and compare your coin to the uncirculated one.

Degrees of wear and fade on your 1928 Morgan silver dollar is classified in different grades based on their condition. These include:

Good

If your peace silver dollar coin is in poor condition, it is graded as Good. Peace dollars in good grade display many signs of wear throughout the surface. Even the writing IN GOD WE TRVST is barely visible. Despite the good condition being a low grade, those in this category are still accepted by collectors because of their rarity.

For the good grade, the hairline and neck of Liberty have already fully merged. On the reverse, most of the details on the eagle’s feathers are missing, but the eagle’s outline is still intact.

Fine

You can also find 1928 silver dollars in the fine grade. Your coin is in fine condition when the reduction of design is not too extreme, but the metal has experienced obvious wear. The wear causes the metal to reduce all over the design.

You can still see a few details on the peace dollar, with the hair still obvious. But, the strands of hair would have merged, and the cheek and neck of Liberty appear flat. The eagle’s feathers might have also merged on the reverse side of the coin.

Extremely Fine

Another highly-sought 1928 silver dollar coin is those in the extremely fine grade. When a coin is in extremely fine condition, it is only slightly worn, and the wear is limited to the highest points of the surface.

Since mint condition silver dollars are very rare, the extremely fine condition is considered the next best thing for collectors. When examining the dollar coin, you should check if the rounded features around the hair are still full. Also, Liberty’s bun should be bold, with only minimal merging with the other parts of the extremely fine coin.

Uncirculated or Mint Condition

1928 Peace Silver Dollar
Image Scource: Coinstudy

The most valuable 1928 liberty silver coin is one in uncirculated condition. It is also very scarce. These silver dollars were not circulated, so they are still in mint condition. You will notice the original mint luster on the coin, with no wear on the surface.

The best way to check if your silver dollar is in the uncirculated grade is to hold it close to a light source and tilt it at an angle. You will notice luster over the designs. Also, the hair and cheek on Liberty will be the highest points of the coin’s surface.

This video can help you in grading your 1928 coin:

Features of the 1928 Silver Bullion

Since the 1928 peace silver coin is known for its beautiful design, it’s not surprising that some subtle features are attractive to coin collectors. Anthony de Francisci is known to have used his wife’s bust for inspiration.

When inspecting your 1928 coin, here are the main features that you will see:

Obverse

Obverse

On the obverse (the front of the coin in loose terms), the main image you see is Liberty. It is a young lady looking left, with a glowing crown on her head. Her hair is neatly put together with a hairband, although you will see some strands hanging downwards.

Over her head is LIBERTY, and under is 1928, the year of issue. Below her chin is IN GOD WE TRVST and AF, the sculptor’s initials. At first, it was believed that the word TRVST was an error, but coin experts say it was intentional and is regarding the victory of the US and its allies in the war.

Reverse

Reverse

On the other side of the coin is the bald eagle, perched at the center. The eagle is facing right, with olive branches pointing out its paws. Above the eagle, you will see the UNITED STATES OF AMERICA and E PLURIBUS UNUM running along the upper rim. There should also be a dot between the E and PLURIBUS.

At the lower rim is PEACE in block letters. You will also see ONE DOLLAR written beside the eagle.

Mint Mark

If you see a tiny S on the reverse of the coin, below the word ONE, this isn’t a Philadelphia coin. On the other hand, if you notice no sign at all on the coin, it is the rarer peace silver dollar.

How Can You Buy an Authentic 1928 Peace Dollar

If you want to add a 1928 liberty silver dollar to your collection, it’s important to tread carefully so that you don’t buy a fake one.

Watch this video to know how to spot a counterfeit:

Now that you know what the coin is worth, you can purchase one through these mediums:

Online Platforms

You can start your search with online platforms like eBay and Amazon. Because of convenience, many coin collectors list their peace silver dollars on these platforms. Before purchasing on eBay and other websites, read the description and ask to see the coin in-person to ensure it is authentic. But you should expect to spend $100+ depending on the coin you find.

Currency Converter

Online currency converters make it easy to buy these peace dollars, especially since there are still a few 1928 pennies in regular circulation. Simply use their search box to find the coin you’re looking for. Some top currency converters include Leftover Currency and Foreign Currency, and Coin.

Local Coin Dealer

Although local coin dealers are not common today, you can still find one and start searching for the 1928 peace silver dollar. The best part about dealing with these coin shops is that they have already checked the silver dollars for you. So, you can rest assured that whatever you buy from them is authentic. You can look for local coin dealers in your city. It’s also a good idea to ask online, as other collectors will have ideas.

Dealers and Auction Houses

If you want the most reliable option, purchase it directly from dealers and auction houses. You can contact a specialist dealer to help you get the coin. But keep in mind that when you’re auctioning, there will be other collectors, causing the value to increase. On the upside, the coins are already graded and are well taken care of.

Steps to Sell a 1928 Peace Silver Dollar

If you own 1928 peace silver dollars, you can decide to sell them to other collectors instead.

Grade the Coin

Start by analyzing your peace silver dollar, and check the grade it falls in. You should also be able to write a description of the coin, especially if you’re selling online. By checking the condition, buyers will be convinced about its authenticity. You also need to check the coin’s date, denomination, and mintmark (or lack thereof).

Choose a Medium

Whether you sell it to a local coin shop or put it up on eBay, you should decide how you want to see your coin. When doing this, ensure you can prove the grade and the year to prospective buyers.

Conclusion

The 1928 peace silver dollar is one of the scarcest coins in US Mint history, with its value going as high as $3,500. Although you can check your spare change for some, it’s more likely to see the 1928 S. These dollar coins can be easily purchased or sold through different platforms, but ensure you inspect them before taking action.

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