A United States coin minted in 1928 at the Philadelphia Mint, it is comprised of 90% silver and 10% copper. This particular issue is a tangible piece of American history, representing a period of economic growth and optimism following World War I. The obverse features a representation of Liberty, while the reverse depicts an eagle perched on a rock, symbolizing peace. Its face value was one dollar, but its intrinsic value is significantly higher due to its silver content and collectibility.
Possessing one of these coins provides a connection to the past and can serve as an investment vehicle. Its historical significance lies in its association with the Peace Dollar series, which was initiated to commemorate the end of World War I. The Philadelphia Mint examples are generally more common than those produced at other mints, but they still command a premium from collectors due to their silver content and condition. Examining its features can reveal information about its authenticity and grade, influencing its value.
Further exploration of these coins involves understanding their grading, assessing their market value, and learning about techniques for proper storage and preservation. These aspects are crucial for anyone interested in numismatics or considering the acquisition of such a historical artifact. Knowing the mint marks and characteristics can prevent fraudulent purchasing attempts.
1. Mint mark location
The presence or absence of a mint mark on a United States coin, such as the Peace Dollar, is a crucial identifier that indicates where the coin was struck. For the 1928 Peace Dollar, the location of the mint mark, or lack thereof, is directly tied to its production facility and, consequently, can influence its value and collectibility.
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Philadelphia Mint Absence
The 1928 Peace Dollar produced at the Philadelphia Mint does not bear a mint mark. This is a defining characteristic. Coins struck in Philadelphia during this period typically lack a mint mark, serving as the visual identifier. The absence is not a defect but rather a standard practice. Examples include other coins from the same era also originating from Philadelphia. The implication is that verification requires careful examination of other identifying features, such as luster and strike quality, because the lack of a mint mark is not unique to rare or special issues.
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Denver and San Francisco Presence
In contrast to the Philadelphia issue, 1928 Peace Dollars struck at the Denver (D) and San Francisco (S) Mints are clearly marked. The “D” mint mark is located on the reverse of the coin, below the word “ONE” in “ONE DOLLAR.” The “S” mint mark is in the same location on coins produced in San Francisco. This differentiation is significant. An example would be comparing a coin sold online as a 1928 Peace Dollar; the presence of a “D” or “S” immediately disqualifies it as a Philadelphia issue. Implications include the need for potential buyers to verify the mint mark status before finalizing a purchase.
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Authentication Implications
Knowledge of the expected mint mark status aids in the authentication process. Counterfeit coins may incorrectly include a mint mark or place it in the wrong location. An authentic 1928 Peace Dollar from Philadelphia will never possess a mint mark. Consider a scenario where a coin is presented as a Philadelphia 1928 Peace Dollar but has a faint mint mark; this should immediately raise suspicion. The implications extend to due diligence, requiring careful scrutiny and, potentially, professional authentication.
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Value Considerations
While the absence of a mint mark identifies the Philadelphia issue, other factors determine its value. Condition, strike quality, and luster contribute to the overall collectibility of the coin. Even though the Philadelphia issue is relatively common compared to the Denver and San Francisco issues, well-preserved examples still command a premium. For example, an uncirculated 1928 Philadelphia Peace Dollar will be more valuable than a heavily circulated one, despite both lacking a mint mark. The implications are that simply identifying the mint of origin is insufficient for assessing a coin’s true value; a comprehensive evaluation is required.
Ultimately, the absence of a mint mark on the 1928 Peace Dollar is not simply a detail but a fundamental attribute that defines its origin and contributes to its identification, authentication, and valuation within the numismatic community. Awareness of this characteristic is crucial for both seasoned collectors and those newly exploring the intricacies of this historical coin.
2. Silver content (90%)
The composition of a 1928 P Peace Silver Dollar, specifically its 90% silver content, is a primary determinant of its intrinsic value and historical significance. This alloy, consisting of 90% silver and 10% copper, was mandated by law at the time of the coin’s production. The silver content provided a tangible link to precious metal reserves and contributed to the coin’s perceived stability and worth in circulation. Absent this high silver percentage, the coin would have represented a different financial instrument altogether. Real-world examples demonstrate this: a Peace Dollar melted down during silver price spikes held a value close to its silver weight, irrespective of its numismatic condition.
The practical application of understanding the silver content extends to both collectors and investors. Knowledge of this composition allows for an informed assessment of the coin’s base value, providing a floor for pricing during transactions. Furthermore, awareness of the metal content safeguards against fraudulent activities. Counterfeit coins often lack the correct silver composition, possessing lower precious metal content or utilizing alternative materials. The specific alloy also impacts the coin’s physical characteristics, influencing its color, luster, and response to handling. For instance, the copper content contributes to the coin’s propensity to tone over time, a characteristic often sought after by collectors.
In summary, the 90% silver content is inextricably linked to the 1928 P Peace Silver Dollar’s identity, value, and historical context. It serves as a constant, providing intrinsic worth beyond its face value and influencing its physical properties. Recognizing the importance of this compositional element is paramount for anyone engaging with this coin, from casual observers to serious numismatists, mitigating the risks of misidentification or undervaluation. This characteristic provides a baseline for valuation, even amidst market fluctuations or varying conditions of individual specimens.
3. Obverse Liberty design
The “Obverse Liberty design” is a defining element of the 1928 P Peace Silver Dollar, serving as the coin’s primary visual representation of American ideals and contributing significantly to its historical and artistic appeal. This design is not merely decorative; it encapsulates the aspirations and values of a nation emerging from World War I, seeking lasting peace and prosperity.
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Facial Profile of Liberty
The design prominently features a left-facing profile of Liberty, a symbolic representation of freedom and national identity. Her features are distinctly American, eschewing classical Grecian or Roman ideals in favor of a modern, more realistic portrayal. Examples of this departure from traditional imagery are evident when comparing the Peace Dollar’s Liberty to earlier depictions on coins like the Morgan Dollar. The implication is a conscious effort to represent a contemporary American ideal rather than a historical allegory.
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Radiate Crown
Liberty is adorned with a radiate crown, symbolizing enlightenment and the dawn of a new era. These rays project outward, signifying the spread of liberty and peace throughout the world. In contrast to earlier designs with a more militaristic headdress, the radiate crown emphasizes a commitment to peaceful progress. The implication is that the coin’s design sought to visually communicate the nation’s transition from wartime engagement to peacetime leadership.
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Inscription “LIBERTY”
The inscription “LIBERTY” is prominently displayed above the profile, reinforcing the core theme of the coin and its intended message. Its placement and font contribute to the overall aesthetic appeal, framing the central image and emphasizing the fundamental American value. The deliberate choice of lettering style and positioning suggests an effort to create a cohesive and impactful design. Implications include a recognition of the power of visual communication in conveying national ideals.
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Motto “IN GOD WE TRUST”
The inclusion of the motto “IN GOD WE TRUST” reflects the prevailing religious sentiment of the time and its integration into national identity. Its presence on the coin underscores the belief in divine guidance and protection. The use of this motto connects the Peace Dollar to a broader historical trend of incorporating religious references into American currency. Implications highlight the intersection of faith, national identity, and economic representation.
The “Obverse Liberty design” is an integral component of the 1928 P Peace Silver Dollar, not merely a superficial decoration but a deliberate expression of American ideals in the post-World War I era. Its symbolic elements, from the facial profile to the inscriptions, contribute to the coin’s historical significance and enduring appeal. Understanding this design is crucial to appreciating the coin’s cultural and artistic value.
4. Reverse eagle symbolism
The depiction of an eagle on the reverse of the 1928 P Peace Silver Dollar is a deliberate symbolic choice, reflecting the aspirations for peace following World War I and reinforcing the national identity. This imagery is not arbitrary; it is deeply rooted in American history and conveys specific messages about the nation’s values and role in the world.
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Perched Eagle on a Rock
The eagle is shown perched on a rock, clutching an olive branch, a traditional symbol of peace. This contrasts with earlier depictions of the eagle holding arrows, a symbol of war. For example, the Morgan Dollar features an eagle with both arrows and an olive branch, whereas the Peace Dollar emphasizes the olive branch, signifying a shift in national focus towards peace. The implication is a conscious effort to represent a commitment to peaceful international relations.
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Absence of Arrows
Notably absent from the eagle’s grasp are the arrows, further underscoring the theme of peace. This deliberate omission reinforces the coin’s overall message and distinguishes it from previous coinage designs. The exclusion of arrows is a visual statement about the nation’s priorities. An absence of weaponry represents a rejection of aggression in favor of diplomacy. The implication is a visual narrative supporting the country’s goal toward a peaceful resolution.
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Sunburst and Rays
A sunburst with rays emanating from behind the eagle symbolizes a new dawn and the hope for a brighter future. The rays represent enlightenment and the promise of a peaceful world. These elements create a sense of optimism and renewal. For instance, the sunburst can be seen as a metaphor for a new era of peace and prosperity. The implication is to provide a visual manifestation of peace.
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Inscription “E PLURIBUS UNUM”
The inclusion of the motto “E PLURIBUS UNUM” (Out of Many, One) reinforces the theme of national unity and strength. This inscription emphasizes the importance of cooperation and collaboration in achieving common goals. The presence of this motto connects the Peace Dollar to core American ideals. Examples of its integration demonstrate the value of community as a nation. The implication is that even after world wars, the country can come back together again.
These symbolic elements on the reverse of the 1928 P Peace Silver Dollar collectively convey a powerful message about the nation’s commitment to peace, unity, and a brighter future. The design serves as a tangible reminder of these ideals, contributing to the coin’s enduring historical and artistic significance.
5. Historical context (Post-WWI)
The 1928 P Peace Silver Dollar exists as a direct consequence of the aftermath of World War I. The conflict, concluded in 1918, prompted a desire for lasting peace and a return to normalcy. This sentiment fueled the passage of the Pittman Act in 1918, which authorized the melting of millions of silver dollars for sale to Great Britain, aiding their war efforts and stabilizing silver prices. Following the war, the Act mandated the striking of new silver dollars to replace those that had been melted. The Peace Dollar series, initiated in 1921, was specifically intended to commemorate the end of “the war to end all wars” and to symbolize the aspiration for lasting peace. Therefore, the creation and design of the 1928 P Peace Silver Dollar cannot be fully understood without recognizing the profound impact of World War I on American society and the desire to visually represent a commitment to peace.
The Peace Dollar’s design choices further reflect the post-WWI context. The obverse, featuring Liberty wearing a radiate crown, symbolizes the dawn of a new era of enlightenment and progress, a direct contrast to the war’s devastation. The reverse, depicting an eagle perched on a rock clutching an olive branch, emphasizes peace and the nation’s intention to pursue diplomatic solutions rather than military aggression. These design elements were carefully chosen to communicate a message of hope and optimism to a nation weary of conflict. The prevalence of the Peace Dollar during the economic prosperity of the 1920s further solidified its association with a period of recovery and growth following the war’s challenges. The availability of these coins, particularly the Philadelphia minted examples, allowed for wider circulation and reinforced their symbolic importance among the general public.
Understanding the historical context is crucial for appreciating the 1928 P Peace Silver Dollar as more than just a piece of currency. It represents a tangible link to a pivotal moment in history and embodies the hopes and aspirations of a generation seeking to build a more peaceful world. Without acknowledging the influence of post-WWI sentiments, the coin’s design and purpose lose much of their significance. Recognizing this connection enhances the coin’s numismatic value and strengthens its position as a valuable historical artifact, providing insight into the mindset of a nation striving for a brighter future after a period of immense global upheaval.
6. Rarity and value drivers
The value of a 1928 P Peace Silver Dollar is inextricably linked to its rarity, which is, in turn, driven by several factors. While the Philadelphia Mint produced a relatively large number of these coins compared to the Denver and San Francisco Mints, their current value is dependent on factors beyond the initial mintage figures. Surviving examples in higher grades are significantly rarer than those showing wear, a direct result of circulation and handling over the decades. Consequently, a 1928 P Peace Silver Dollar graded MS-65 (Mint State 65) commands a significantly higher price than a circulated coin graded, for instance, VF-20 (Very Fine 20). This disparity exemplifies how condition, directly impacting perceived rarity, influences market value.
Key value drivers include the coin’s grade, strike quality, luster, and any unique features, such as errors or varieties. Grading, assigned by independent grading services such as PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation), provides a standardized assessment of the coin’s condition. A well-struck coin exhibits sharp details and minimal imperfections, enhancing its desirability among collectors. Luster, the way light reflects off the coin’s surface, is another critical factor. Original, undisturbed luster is highly prized, particularly in uncirculated examples. Instances of mint errors, such as double dies or off-center strikes, can significantly increase a coin’s value due to their inherent rarity. For example, a 1928 P Peace Dollar with a documented and certified die error would be significantly more valuable than a standard, flawless specimen in comparable condition. These factors, collectively, influence a coin’s rarity assessment and, subsequently, its market value.
Ultimately, the value of a 1928 P Peace Silver Dollar is not solely determined by its original mintage or inherent silver content, but rather by a complex interplay of factors that contribute to its perceived rarity and desirability among collectors. While the Philadelphia mint produced a fair number of these coins, high-grade examples with strong strikes, attractive luster, and minimal imperfections are scarce and command premium prices. Understanding these rarity and value drivers is essential for anyone interested in collecting, investing in, or assessing the true worth of this particular silver dollar.
7. Grading impact
Professional grading exerts a substantial influence on the valuation and marketability of a 1928 P Peace Silver Dollar. The assigned grade, determined by independent grading services, directly reflects the coin’s condition and significantly affects its perceived value and desirability among collectors and investors.
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Numerical Grade and Condition Assessment
The numerical grade assigned by services such as PCGS or NGC quantifies the coin’s condition based on factors including surface preservation, strike quality, and eye appeal. Higher grades, such as MS-65 (Mint State 65) or above, indicate exceptional condition and command substantial premiums. Conversely, lower grades, such as Good or Very Good, reflect significant wear and diminished surface detail, resulting in lower values. An example of this is the significant price difference between a 1928 P Peace Silver Dollar graded MS-66 and one graded AU-55 (Almost Uncirculated 55), despite both being uncirculated to near-uncirculated. The implication is that even minor differences in condition can translate to substantial variations in market value.
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Authentication and Certification
Professional grading incorporates authentication, verifying the coin’s genuineness and protecting against counterfeiting. Encapsulation in a certified holder provides a tamper-evident seal, assuring potential buyers of the coin’s authenticity and grade. Counterfeit 1928 P Peace Silver Dollars exist, and certified examples offer peace of mind. Instances where uncertified coins have been misrepresented as higher grades highlight the importance of authentication in safeguarding against fraud. The implication is that certification enhances buyer confidence and reduces the risk associated with purchasing valuable coins.
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Market Liquidity and Transaction Ease
Graded coins are easier to buy and sell due to the standardized assessment of their condition. The numerical grade provides a common language and framework for transactions, facilitating price discovery and reducing ambiguity. Collectors and investors often prefer graded coins because they offer a more objective and transparent evaluation of value. For example, online auctions and coin shows frequently feature graded coins, allowing buyers to quickly assess their condition and make informed purchasing decisions. The implication is that grading enhances market liquidity and streamlines the buying and selling process.
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Preservation and Long-Term Value
Encapsulation in a certified holder protects the coin from environmental factors, such as humidity and handling, which can degrade its condition over time. This preservation can help maintain the coin’s grade and value over the long term. Graded coins are less likely to be damaged by improper storage or handling, ensuring their continued appeal to future collectors. For instance, a properly graded and encapsulated 1928 P Peace Silver Dollar is more likely to retain its luster and surface quality, preserving its numismatic value. The implication is that grading contributes to the long-term preservation of the coin and safeguards its value against potential damage.
The impact of grading on a 1928 P Peace Silver Dollar is multifaceted, influencing its authenticity, marketability, and long-term preservation. Professional grading provides a standardized assessment of condition, enhances buyer confidence, and facilitates transactions within the numismatic community. Understanding the significance of grading is crucial for anyone involved in the collecting, investing, or trading of these historical coins.
Frequently Asked Questions
This section addresses common inquiries regarding the 1928 P Peace Silver Dollar, providing concise and informative answers to assist collectors and investors.
Question 1: What factors determine the value of a 1928 P Peace Silver Dollar?
The value is primarily determined by its condition (grade), strike quality, luster, and any presence of mint errors. Third-party grading services, such as PCGS and NGC, assess these factors and assign a standardized grade, which significantly impacts the coin’s market value.
Question 2: How can one verify the authenticity of a 1928 P Peace Silver Dollar?
Authenticity is best verified through third-party grading. These services employ experts who can detect counterfeit coins and provide certification, ensuring the coin is genuine. Key indicators to examine include weight, diameter, and the sharpness of the details.
Question 3: Why does the 1928 P Peace Silver Dollar not have a mint mark?
The absence of a mint mark indicates that the coin was struck at the Philadelphia Mint. Coins produced at Philadelphia during this period typically do not bear a mint mark. Denver and San Francisco minted coins will feature a “D” or “S” mint mark, respectively.
Question 4: What is the composition of a 1928 P Peace Silver Dollar?
The coin is composed of 90% silver and 10% copper. This composition was standard for silver dollars of that era and contributes to the coin’s intrinsic value.
Question 5: What is the significance of the design on the 1928 P Peace Silver Dollar?
The design commemorates the end of World War I and symbolizes the aspiration for peace. The obverse features Liberty, while the reverse depicts an eagle clutching an olive branch, representing peace and prosperity.
Question 6: How should a 1928 P Peace Silver Dollar be stored to preserve its value?
To preserve its value, the coin should be stored in a dry, cool environment away from direct sunlight and potential contaminants. Encapsulation in a certified holder or storage in acid-free coin albums is recommended to protect the coin from environmental damage and handling.
Understanding these FAQs provides a foundational knowledge for evaluating and appreciating the 1928 P Peace Silver Dollar.
Proceed to the next section for further insights into market trends and investment strategies.
Expert Guidance for Assessing the 1928 P Peace Silver Dollar
This section provides targeted advice to assist in the evaluation and responsible management of a 1928 P Peace Silver Dollar.
Tip 1: Prioritize Third-Party Grading. Before acquiring this or any collectible coin, seek grading from reputable services such as PCGS or NGC. Certified grades provide an objective assessment of condition and authenticity, mitigating risks associated with counterfeits or overgrading.
Tip 2: Examine Strike Quality. Analyze the sharpness of the design details, particularly on Liberty’s hair and the eagle’s feathers. A well-struck coin exhibits crisp features, indicative of a strong impression during minting, adding to its desirability and value.
Tip 3: Evaluate Luster Carefully. Assess the coin’s surface for original mint luster, the way light reflects off the coin’s surface. Avoid examples with artificial toning or surface abrasions, as these detract from the coin’s value and originality.
Tip 4: Research Market Values Diligently. Consult reputable price guides and auction records to establish a fair market value. Be aware of fluctuations in silver prices, which can influence the coin’s intrinsic worth. Exercise caution when encountering prices that seem significantly above or below market averages.
Tip 5: Implement Proper Storage Techniques. Store the 1928 P Peace Silver Dollar in a protective holder, such as a certified slab or acid-free coin album. Avoid handling the coin directly to prevent surface damage and maintain its condition over time.
Tip 6: Understand Grading Nuances. Familiarize yourself with the grading standards used by PCGS and NGC. Minor variations in condition can result in substantial price differences. Consult grading guides and online resources to improve your grading skills.
Tip 7: Document the Provenance. If available, maintain a record of the coin’s history of ownership, including previous sales or ownership information. Documented provenance can enhance the coin’s collectibility and value.
Adherence to these guidelines promotes informed decisions when evaluating and managing a 1928 P Peace Silver Dollar, safeguarding against potential risks and maximizing its long-term value.
The subsequent section provides a concise conclusion to this comprehensive examination.
Conclusion
This exploration of the 1928 P Peace Silver Dollar has underscored its significance as a tangible representation of American history and numismatic value. From its silver content and iconic design to the impact of grading and market forces, the coin embodies a confluence of factors that determine its appeal to collectors and investors. A thorough understanding of these elements is paramount for responsible acquisition and management of this historical artifact.
As a relic of a bygone era, the 1928 P Peace Silver Dollar warrants careful consideration, meticulous evaluation, and prudent preservation. Its enduring legacy serves as a reminder of the past and a potential avenue for investment in the future. Continued research and diligence remain essential for all who seek to engage with this piece of American heritage.
