The coin in question is a United States silver dollar struck in the year 1928. These coins are composed of 90% silver and 10% copper, adhering to the standard silver dollar composition of that era. They represent a tangible piece of American history and reflect the economic and artistic landscape of the time. A specific example might feature the Peace design, a popular motif on silver dollars of the period, depicting Liberty on the obverse and an eagle on the reverse.
These coins hold significance for collectors due to their historical value, intrinsic silver content, and aesthetic appeal. Certain mint marks or conditions can significantly increase the numismatic value. They serve as a connection to the past, offering insights into the nation’s monetary system and artistic trends of the early 20th century. Moreover, they represent a form of tangible asset that can appreciate in value over time, particularly those specimens in uncirculated condition or possessing unique attributes.
The following sections will delve into specific aspects of these coins, including their production figures, variations, grading standards, and factors influencing their market value. Understanding these elements is crucial for anyone interested in collecting, investing, or simply appreciating these historical artifacts.
1. Silver Composition
The silver composition of the 1928 American silver dollar is a defining characteristic directly influencing its intrinsic value and historical context. Standardized at 90% silver and 10% copper, this alloy dictated the coin’s inherent worth based on prevailing silver market prices at the time of minting and subsequently. The presence of silver ensured the coin possessed a tangible, widely recognized value, contributing to its acceptance in commerce and as a store of wealth. Changes in silver prices, then and now, directly impact the coin’s perceived and real worth. A heightened demand for silver, for example, will inevitably increase the value of the melt value of the coin.
The specified composition also played a crucial role in the coin’s durability and aesthetic qualities. The addition of 10% copper, while reducing the overall silver content, enhanced the coin’s resistance to wear and tear, prolonging its lifespan in circulation. This alloy provided the necessary hardness for everyday use, preventing excessive deformation and preserving the coin’s design details. Furthermore, the copper component subtly influenced the color and luster of the coin, contributing to its distinctive appearance. Without it, a pure silver coin would be too soft for use and more susceptible to damage.
Understanding the silver composition of the 1928 American silver dollar is essential for collectors, investors, and historians alike. It provides a foundation for assessing the coin’s value, authenticating its origin, and appreciating its historical significance within the broader context of American monetary policy and precious metal markets. Challenges related to the fluctuating price of silver continue to shape the coin’s investment appeal, highlighting the enduring connection between its physical composition and its economic value.
2. Peace Design
The Peace design, gracing the surface of the 1928 American silver dollar, represents more than mere ornamentation; it embodies a significant historical moment and artistic vision reflective of the post-World War I era. Its presence on these coins connects the currency directly to themes of peace, recovery, and national aspiration.
-
Conceptual Origins
The Peace design was conceived following the conclusion of World War I, intended to commemorate the cessation of hostilities and symbolize the nation’s hope for lasting peace. The design emerged from a competition seeking a motif that would capture the spirit of the time. The selected design by Anthony de Francisci replaced the Morgan dollar design, signaling a shift in national sentiment.
-
Artistic Representation
The obverse features a depiction of Liberty, portrayed as a youthful, American woman, her hair flowing freely. This symbolizes freedom and a new era. The reverse displays an eagle perched on a rock, clasping an olive branch, while the word “Peace” is inscribed below. These elements combine to communicate a message of harmony and recovery.
-
Historical Significance
The Peace dollar series, initiated in 1921 and continuing until 1935, including the 1928 mintage, served as a constant reminder of the nation’s commitment to international amity. The designs prominence on a circulating currency reinforced the idea of peace as a fundamental value, influencing public perception and shaping national identity during a period of rebuilding and reconciliation.
-
Numismatic Implications
The Peace design significantly impacts the desirability and collectibility of 1928 American silver dollars. Collectors often seek examples with sharp strikes and minimal wear, as the design’s details contribute substantially to the coin’s aesthetic appeal and overall value. Variations in mint marks and strike quality, combined with the inherent symbolism of the design, make these coins a sought-after addition to numismatic collections.
In conclusion, the Peace design is an integral component of the 1928 American silver dollar, enriching its historical and artistic significance. Its symbolic representation of peace, combined with its artistic execution, enhances the coin’s appeal to collectors and historians alike. The design serves as a lasting reminder of the nation’s aspirations and the historical context in which these coins were produced.
3. Numismatic Value
The numismatic value of a 1928 American silver dollar extends beyond its intrinsic silver content, encompassing a complex interplay of factors that determine its worth to collectors and investors. This value is influenced by condition, rarity, historical significance, and market demand, each contributing to the coin’s overall appraisal.
-
Condition and Grading
The physical condition of the coin significantly impacts its numismatic value. Coins are graded on a scale ranging from Poor (PR) to Mint State (MS), with higher grades indicating better preservation. A 1928 silver dollar in uncirculated (MS) condition will command a substantially higher price than one that is heavily worn. Grading services such as PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Corporation) provide independent assessments of a coin’s condition, further influencing its market value through certified grading.
-
Mint Marks and Rarity
The presence and type of mint mark influence a 1928 silver dollar’s numismatic value. The San Francisco (S) mint produced a smaller quantity of these coins compared to the Philadelphia (no mint mark) and Denver (D) mints. Consequently, 1928-S silver dollars are generally scarcer and command a premium. The rarity of specific mint mark varieties, coupled with demand from collectors, drives up their market price.
-
Historical Significance and Demand
The historical context of the 1928 silver dollar contributes to its appeal and numismatic value. Issued during the economic prosperity of the late 1920s, these coins represent a tangible link to a pivotal era in American history. Demand for these coins is driven by collectors seeking to complete sets, investors looking for tangible assets, and individuals drawn to their historical significance. Increased demand, coupled with limited supply, can lead to significant appreciation in value.
-
Errors and Varieties
The existence of minting errors or die varieties can substantially increase the value of a 1928 American silver dollar. Examples may include double dies, off-center strikes, or other anomalies that occurred during the minting process. These errors are often rare and highly sought after by specialist collectors, commanding premium prices based on their unique characteristics and the degree of the error.
In summary, the numismatic value of a 1928 American silver dollar is a multifaceted assessment influenced by its condition, rarity, historical context, market demand, and the presence of any minting errors. These factors collectively determine its worth within the numismatic community, making it a valuable collectible and a reflection of American history.
4. Mint Marks and the 1928 American Silver Dollar
Mint marks on the 1928 American silver dollar serve as critical identifiers of the coin’s origin, directly impacting its rarity and, consequently, its numismatic value. These small letter designations, stamped onto the coin during the minting process, denote the specific United States Mint facility responsible for its production. The presence, absence, or type of mint mark provide key insights into the coin’s mintage figures and its relative scarcity within the broader population of 1928 silver dollars. For instance, the 1928-S Peace dollar, bearing the “S” mint mark for San Francisco, is generally considered more valuable than the 1928 Peace dollar minted in Philadelphia, which carries no mint mark. This disparity in value stems directly from the lower production numbers at the San Francisco Mint that year.
The practical significance of understanding mint marks lies in their pivotal role in coin identification and authentication. Counterfeit coins often lack accurate mint marks or possess incorrectly placed or styled marks, making the presence and proper form of the mint mark essential for verifying a coin’s authenticity. Furthermore, the combination of a specific date and mint mark allows collectors to determine the mintage figures, which in turn informs their decisions regarding the coin’s desirability and potential investment value. For example, a collector seeking to complete a Peace dollar set will prioritize acquiring the 1928-S, recognizing its relative scarcity compared to other dates and mint marks in the series.
In conclusion, mint marks are integral components of the 1928 American silver dollar, serving as vital indicators of origin, rarity, and potential value. Accurate identification and understanding of these marks are essential for collectors, investors, and numismatists seeking to authenticate, appraise, and appreciate these pieces of American history. The challenges associated with identifying subtle variations in mint mark styles and positions underscore the need for careful examination and expert knowledge in evaluating these coins.
5. Rarity Factors
Rarity factors significantly influence the numismatic value of the 1928 American silver dollar. These factors encompass elements such as mintage figures, survival rates, condition rarity, and the presence of errors, each contributing to the overall scarcity and desirability of specific examples.
-
Mintage Figures
The quantity of 1928 silver dollars produced at each mint (Philadelphia, Denver, and San Francisco) directly correlates with their relative rarity. The San Francisco Mint produced significantly fewer 1928-S dollars compared to the Philadelphia Mint, making the 1928-S inherently scarcer. Lower mintage translates to a higher potential value, assuming other factors are equal. Official mint records provide verifiable data supporting the differential in mintage numbers.
-
Survival Rates
The number of 1928 silver dollars that have survived to the present day in various conditions impacts their rarity. Coins that saw heavy circulation are less valuable than those preserved in uncirculated or near-uncirculated condition. Factors influencing survival rates include economic conditions (which might lead to melting), damage from handling, and environmental factors affecting coin preservation. Estimates of survival rates are often based on population reports from grading services.
-
Condition Rarity
Within a specific mintage, the number of coins that exist in high grades (e.g., MS-65 or higher) represents condition rarity. Even for a relatively common date like the 1928 Philadelphia minted dollar, examples graded MS-67 or MS-68 are exceedingly rare. Condition rarity is a major determinant of value for serious collectors who seek the highest quality examples. Grading service data provides empirical evidence of condition rarity.
-
Error Coins
The occurrence of minting errors, such as double dies, off-center strikes, or planchet errors, can significantly increase the rarity and value of a 1928 silver dollar. Error coins are inherently scarce because they represent deviations from the intended minting process. The more dramatic and visually appealing the error, the greater the demand and the higher the price. Documented examples of error coins, authenticated by numismatic experts, illustrate the impact of errors on rarity.
These rarity factors, operating in concert, establish the relative scarcity of different 1928 American silver dollars. Understanding these factors is crucial for accurately assessing the numismatic value and making informed decisions regarding collecting or investing in these historical coins. The 1928-S in high grade, or a 1928 with a significant minting error, can command prices far exceeding common examples due to the compounding effect of multiple rarity factors.
6. Historical Context and the 1928 American Silver Dollar
The historical context surrounding the 1928 American silver dollar significantly influences its value and appeal to collectors and historians. Understanding the economic, social, and political climate of the late 1920s provides essential insights into the coin’s production, distribution, and eventual place in American numismatic history.
-
The Roaring Twenties
The 1928 American silver dollar was minted during a period of economic expansion and social change known as the Roaring Twenties. This era was characterized by increased industrial production, consumerism, and a sense of optimism following World War I. The relative prosperity of the time facilitated the circulation of silver dollars in commerce, reflecting the nation’s economic confidence. The increased consumer spending also led to a surge in the demand for currency for transactions.
-
The Peace Dollar Design
The Peace dollar design, first introduced in 1921, symbolized the end of World War I and the nation’s aspirations for lasting peace. The 1928 silver dollar continued this theme, serving as a tangible reminder of the post-war era and the desire for global stability. The design itself reflects a shift in artistic sensibilities, moving away from the earlier Morgan dollar design to embrace a more modern aesthetic that aligned with the optimism and forward-looking spirit of the 1920s. The Peace dollar represents a conscious effort to commemorate peace and prosperity, making it a significant symbol of its time.
-
Silver Legislation
The production of silver dollars, including the 1928 issue, was influenced by legislation aimed at supporting the domestic silver mining industry. Laws such as the Pittman Act of 1918 required the U.S. government to purchase large quantities of silver, ensuring a market for American silver producers. These policies directly impacted the mintage figures of silver dollars and their role in the nation’s monetary system. Such legislation shaped the economic landscape for the American silver dollar, ensuring its production and circulation.
-
The Prelude to the Great Depression
While the 1928 American silver dollar represents an era of prosperity, it also foreshadowed the impending economic downturn of the Great Depression. The stock market crash of 1929 and the subsequent economic crisis dramatically altered the financial landscape, leading to a decline in the circulation of silver dollars and an increase in melting for their silver content. This transition from prosperity to hardship highlights the coin’s historical significance as a marker of a pivotal moment in American economic history. It represents the last gasp of an era before financial disaster, making it more valuable as a historical artifact.
In summary, the historical context of the 1928 American silver dollar is crucial for understanding its significance and value. Minted during a period of economic prosperity and optimism, yet preceding the Great Depression, the coin embodies the complexities and transitions of the era. Its design, production, and eventual fate reflect the economic, social, and political forces that shaped the United States in the late 1920s, making it a valuable and tangible piece of American history.
Frequently Asked Questions
The following section addresses common inquiries concerning the 1928 American silver dollar. It provides concise answers to frequently asked questions, focusing on key aspects of the coin’s history, value, and collectibility.
Question 1: What is the composition of the 1928 American silver dollar?
The 1928 American silver dollar consists of 90% silver and 10% copper. This composition was standard for silver dollars of that era and influences the coin’s intrinsic value.
Question 2: What does the Peace design symbolize on the 1928 silver dollar?
The Peace design, featured on the 1928 silver dollar, symbolizes the end of World War I and the nation’s aspirations for lasting peace. It reflects the post-war optimism and desire for global stability.
Question 3: How do mint marks affect the value of the 1928 silver dollar?
Mint marks indicate where the coin was produced (Philadelphia, Denver, or San Francisco). The San Francisco (“S”) mint mark typically signifies greater rarity and thus a higher value, due to lower mintage numbers.
Question 4: What factors determine the numismatic value of a 1928 silver dollar?
The numismatic value is influenced by the coin’s condition, rarity (based on mint mark and mintage), historical significance, and market demand. Coins in higher grades and with scarcer mint marks command higher prices.
Question 5: Are there any known errors or varieties of the 1928 silver dollar?
Yes, minting errors or die varieties, such as double dies or off-center strikes, can occur on the 1928 silver dollar. These errors typically increase the coin’s value and are sought after by collectors.
Question 6: How can one authenticate a 1928 American silver dollar?
Authenticating a 1928 silver dollar involves verifying its weight, dimensions, silver content, and the accuracy of its design details, including the mint mark. Professional grading services can provide certified authentication.
In summary, the 1928 American silver dollar is a historical artifact with value stemming from its silver content, design, and historical context. Its condition, rarity, and the presence of minting errors further influence its value to collectors and investors.
The subsequent section will explore strategies for collecting and preserving these historical coins.
Collecting Considerations for the 1928 American Silver Dollar
The acquisition of the 1928 American silver dollar requires a strategic approach, factoring in condition, rarity, authentication, and long-term preservation to maximize both enjoyment and potential investment returns.
Tip 1: Prioritize Condition Assessment: Before acquiring any 1928 American silver dollar, rigorously assess its condition. Refer to established grading standards (e.g., Sheldon Scale) and, when possible, seek opinions from reputable numismatists or grading services. Higher grades (MS-63 and above) typically command significant premiums.
Tip 2: Scrutinize Mint Marks: The 1928 American silver dollar was produced at three mints. Thoroughly inspect the mint mark (“S” for San Francisco, “D” for Denver, no mark for Philadelphia) for authenticity and placement. Variations in mint mark styles can influence value.
Tip 3: Emphasize Authentication Procedures: To mitigate the risk of acquiring counterfeit specimens, obtain coins graded by reputable third-party grading services (PCGS, NGC). Alternatively, compare any prospective purchase against known genuine examples, paying close attention to design details, weight, and dimensions.
Tip 4: Evaluate Market Trends: Monitor prevailing market prices for 1928 American silver dollars through established numismatic publications and online resources. Track auction results and dealer inventories to gauge current demand and identify potential buying opportunities.
Tip 5: Consider Long-Term Preservation: Once acquired, store 1928 American silver dollars in inert, archival-quality holders. Avoid handling coins directly to prevent surface damage. Control humidity and temperature in storage areas to minimize environmental degradation.
Tip 6: Research Provenance (If Possible): When feasible, investigate the historical provenance of the coin. Coins with documented ownership by prominent collectors or association with significant historical events may hold enhanced numismatic value.
These practical considerations facilitate informed decisions when seeking to add the 1928 American silver dollar to a collection. Careful research and diligent assessment enhance the potential for building a valuable and historically significant holding.
The concluding section will summarize the core aspects of the 1928 American Silver Dollar and reiterate its historical importance.
Concluding Remarks on the 1928 american silver dollar
This exploration has illuminated several facets of the 1928 american silver dollar, from its silver composition and the symbolism of its Peace design to the nuances of its mint marks and the complexities of its numismatic value. Its historical context, situated within the economic vibrancy of the late 1920s, adds another layer of significance, making it a compelling subject for collectors and historians alike. Mintage figures, survival rates, and condition rarity all play a role in establishing its value in the numismatic marketplace.
The ongoing interest in the 1928 american silver dollar underscores its enduring appeal as a tangible link to American history. Its value, both intrinsic and collectible, necessitates careful consideration and informed decision-making from prospective collectors. As a representative of an era marked by both prosperity and impending economic turmoil, its significance extends beyond its monetary worth, serving as a constant reminder of America’s past, present, and future financial decisions.
