This particular coin, minted in San Francisco in 1928, represents a tangible piece of American history. Struck from 90% silver, it features the iconic Peace design, symbolizing the end of World War I. The “S” mint mark indicates its origin, differentiating it from those produced in Philadelphia or Denver.
Its significance lies not only in its precious metal content but also in its historical context. Released during a period of economic prosperity, it serves as a reminder of a specific era. Moreover, the surviving examples offer collectors a fascinating insight into the minting practices and economic conditions of the time, making them highly sought after.
Further details concerning rarity, grading, and value fluctuations significantly influence its desirability among numismatists. Examination of the coin’s condition, the number minted, and the current market demand are critical elements in understanding its true worth.
1. San Francisco Mint
The San Francisco Mint’s role in producing the 1928-S Peace Silver Dollar is central to understanding the coin’s value and collectibility. The “S” mint mark distinguishes it from those produced in Philadelphia (no mint mark) or Denver (“D” mint mark), directly influencing its scarcity and desirability among numismatists.
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Mint Mark Significance
The “S” mint mark signifies the coin’s origin, the San Francisco Mint. This is not merely a geographical indicator; it dictates the quantity produced. San Francisco often had lower mintages compared to Philadelphia, making the “S” marked coins generally more valuable. This difference in mintage creates a tiered system of value within the Peace Dollar series.
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Production Volume
The San Francisco Mint’s production volume for the 1928 Peace Dollar was a critical factor. Specific mintage figures are meticulously recorded and consulted by collectors. Lower production numbers translate directly to higher rarity, provided other factors such as preservation rates are similar across different mints. The 1928-S’s mintage is lower than the Philadelphia mint’s, but higher than some other San Francisco Peace Dollars.
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Striking Quality
While subjective, the San Francisco Mint’s striking quality can influence value. Collectors often look for well-struck examples with sharp details. The quality of the die, the striking pressure, and the die’s lifespan all affect the final appearance of the coin. Examples from San Francisco with strong strikes command higher premiums.
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Historical Context of the San Francisco Mint
The San Francisco Mint’s historical context within the broader U.S. Mint system adds another layer of significance. Operating since 1854, its history is intertwined with the California Gold Rush and the westward expansion of the United States. Coins produced there carry a certain cachet due to this association. The story of the San Francisco Mint contributes to the narrative surrounding the 1928-S Peace Dollar.
In conclusion, the San Francisco Mint’s involvement in the production of the 1928-S Peace Silver Dollar is a multifaceted factor. The “S” mint mark serves as a primary identifier, while production volume, striking quality, and the Mint’s historical context all contribute to the coin’s overall value and appeal to collectors.
2. 90% Silver Content
The 90% silver composition of the 1928-S Peace Silver Dollar is a fundamental aspect of its intrinsic and collectible value. This specification, established by law, dictates the coin’s metallic makeup and influences its weight, appearance, and historical significance.
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Intrinsic Value Component
The 90% silver content contributes directly to the coin’s intrinsic value. The price of silver fluctuates on the commodities market, thereby influencing the minimum worth of the coin based solely on its metallic composition. During periods of high silver prices, the intrinsic value can approach or even exceed the coin’s face value, adding to its appeal as a tangible asset. For example, if silver trades at $25 per ounce, a coin containing 0.77344 troy ounces of silver possesses a melt value of approximately $19.34, before any premiums for collectibility are factored in.
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Alloy Composition Impact
The remaining 10% of the coin’s composition typically consists of copper. This alloy is crucial for enhancing the coin’s durability and resistance to wear. Pure silver is relatively soft; the addition of copper hardens the metal, allowing the coin to withstand circulation without excessive damage. The specific alloy influences the coin’s color and how it patinates over time. Different alloys can result in variations in toning, a patina that collectors find appealing, and this contributes to the coin’s unique character.
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Historical Significance Reflector
The 90% silver standard connects the 1928-S Peace Silver Dollar to a specific era in American coinage. This standard was common for silver coins during the late 19th and early 20th centuries. It reflects a time when coinage was backed by precious metals, linking currency to tangible wealth. This historical connection adds to the coin’s appeal as a historical artifact, representing a shift away from hard currency as the United States transitioned to fiat currency.
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Collector Grading Consideration
The 90% silver content influences how the coin is graded by numismatists. The presence of scratches, abrasions, or cleaning marks on the surface of the coin is more apparent on silver coins and impacts the grade assigned. A well-preserved example with minimal wear and original luster will command a significant premium. Collectors carefully examine the surface condition to assess the coin’s overall grade, directly influencing its market value.
In conclusion, the 90% silver content is an integral aspect of the 1928-S Peace Silver Dollar. It impacts its intrinsic value, durability, historical context, and the criteria used for grading. This composition ties the coin to a specific era in American coinage history and contributes to its overall desirability among collectors and investors.
3. Peace Design Symbolism
The design featured on the 1928-S Peace Silver Dollar is not merely aesthetic; it is a deliberate and symbolic representation of the nation’s aspirations following the First World War. Its presence is inextricably linked to the coin’s issuance and its historical significance. The Peace design, replacing the Morgan Dollar design, was intended to commemorate the end of the war and the hope for lasting peace, directly affecting the coin’s purpose and public perception.
The obverse features Liberty, depicted as a youthful woman, facing left. This symbolizes a new era of freedom and progress. The reverse showcases an eagle perched on a rock, holding an olive branch, a classical symbol of peace. The broken sword beneath the eagle represents the end of conflict. The word “Peace” is prominently displayed. The artist, Anthony de Francisci, used his wife as the model for Liberty, imbuing the design with a sense of contemporary relevance. The choice of these symbols underscores the nation’s commitment to a peaceful future after the global conflict, directly influencing the coin’s design and message. The design acted as visual propaganda to shape public perception after the First World War. In 1921, when the design was first adopted, it was a bold statement.
Understanding the Peace Design’s symbolism provides a deeper appreciation for the 1928-S Peace Silver Dollar. It transforms the coin from a mere piece of currency into a tangible representation of a pivotal moment in American history. Collectors and historians alike recognize the importance of this symbolism in interpreting the coin’s cultural significance. Failure to recognize the symbolism diminishes the coin’s significance, reducing it to a mere silver commodity. The Peace design remains a potent symbol of hope and the pursuit of international harmony.
4. Limited Minted Quantity
The relatively small number of 1928-S Peace Silver Dollars produced by the San Francisco Mint is a key determinant of its value and collectibility. Scarcer coins, by definition, command higher premiums due to basic supply and demand principles. This holds true even when the coin’s condition is less than perfect. The 1928-S’s mintage figures are meticulously tracked and documented; these records directly influence its pricing in the numismatic market. For example, if the mintage figures of two coins are almost similar, the coin with a smaller mintage is deemed more valuable.
Compared to other Peace Silver Dollars, the 1928-S falls into a category of mid-range scarcity. Some years saw significantly lower mintages, making those coins far more difficult to acquire. However, the 1928-S is not nearly as common as the Philadelphia-minted Peace Dollars of the same year. This intermediate level of scarcity means that while the 1928-S is accessible to many collectors, it still carries a substantial premium over its silver melt value and over more common Peace Dollars. A 1928-S in MS63 condition might fetch several hundred dollars, while a common Peace Dollar of similar grade may be worth only a fraction of that amount. This difference shows the importance of mintage.
Therefore, the limited minted quantity of the 1928-S Peace Silver Dollar is a crucial aspect for collectors and investors to consider. Understanding its place within the broader spectrum of Peace Dollar mintages allows for informed purchasing decisions. While not the rarest Peace Dollar, its relatively low production numbers compared to other years and mints contribute significantly to its desirability and market value, underscoring the coin’s worth as a numismatic artifact.
5. Wear and Condition
The physical state of a 1928-S Peace Silver Dollar significantly impacts its valuation and collectibility. Wear and condition, graded on scales such as the Sheldon scale, reflect the coin’s circulation history and handling. Coins that circulated extensively exhibit noticeable wear, characterized by flattened details, scratches, and reduced luster. These imperfections reduce the coin’s aesthetic appeal and, consequently, its market value. Examples of heavily worn 1928-S Peace Silver Dollars, graded Poor (PO-01) or Fair (FR-02), might only be worth slightly above their silver melt value due to their deteriorated condition. In contrast, coins that saw limited or no circulation retain sharper details and original mint luster.
Grading services, such as PCGS and NGC, assign numerical grades to coins based on established criteria for wear, surface preservation, and eye appeal. A 1928-S Peace Silver Dollar graded as Mint State (MS-60 or higher) signifies it was never circulated and retains its original mint condition. Such coins are highly prized by collectors and command substantial premiums. The presence of bag marks (small abrasions from contact with other coins during minting and transport) is tolerated in lower Mint State grades, but their severity and location influence the final assigned grade. Similarly, the presence of toning, a natural oxidation process that creates colorful patinas on the coin’s surface, can either enhance or detract from its value depending on its evenness and aesthetic appeal. For example, rainbow toning on a 1928-S Peace Silver Dollar can increase its value significantly, while dark, unattractive toning can decrease it.
Ultimately, wear and condition are pivotal considerations when evaluating a 1928-S Peace Silver Dollar. Understanding grading standards and the impact of various imperfections enables collectors to make informed purchasing decisions. The preservation of original details and surface quality directly correlates with the coin’s value, emphasizing the importance of careful handling and storage to maintain its condition over time. This understanding facilitates the preservation of numismatic heritage and promotes responsible collecting practices.
6. Rarity Assessment
Rarity assessment is fundamental to determining the value of a 1928-S Peace Silver Dollar. This involves analyzing several factors, including the original mintage figures, the number of coins that survived circulation, and the condition of existing specimens. The San Francisco Mint produced a specific quantity of these coins, a figure documented in official mint records. However, not all of these coins remain in existence today. Wear, damage, melting, and loss have reduced the population over time. A lower surviving population, relative to the original mintage, elevates its scarcity, increasing its desirability among collectors. For instance, even if the 1928-S had a higher initial mintage than another Peace Dollar year, it may be rarer today if a higher percentage of the 1928-S were melted for their silver content.
The assessment extends beyond mere survival rates. The condition of surviving examples significantly influences their rarity. A coin graded Mint State (MS) is considerably rarer and more valuable than a circulated example of the same year and mint mark. Grading services, such as PCGS and NGC, provide independent assessments of a coin’s condition, contributing to a standardized understanding of its rarity. Furthermore, certain varieties within the 1928-S issue, such as those with specific die errors or subtle design variations, may be exceptionally rare. Discovering and authenticating these varieties requires specialized knowledge and meticulous examination. An example is the discovery of a small die error on a limited number of 1928-S coins. That can cause an increase in the assessed value of the coin.
In summary, rarity assessment is a multi-faceted process crucial for evaluating a 1928-S Peace Silver Dollar. It encompasses analyzing mintage figures, estimating survival rates, assessing condition, and identifying rare varieties. While challenges exist in accurately estimating surviving populations, these assessments are indispensable for determining a coin’s true value and its significance within the broader numismatic landscape. This understanding also highlights the importance of preservation efforts, as the long-term value of these coins hinges on the continued existence of well-preserved examples. It is hard to determine the exact existing number of these coins, but assessment tools help a lot.
7. Numismatic Value
Numismatic value, in the context of the 1928-S Peace Silver Dollar, transcends the coin’s intrinsic silver content and face value. It reflects a complex interplay of factors that determine its desirability and worth within the collector market. This value is subject to market fluctuations and collector demand.
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Scarcity and Rarity Premiums
A primary component of numismatic value stems from the coin’s scarcity. The 1928-S Peace Silver Dollar, while not the rarest in the series, possesses a mintage that contributes to its relative scarcity compared to other years or mint marks. This scarcity translates into a premium above the coin’s melt value. For example, a 1928-S in circulated condition might fetch several times the value of its silver content, solely due to its limited availability to collectors. A heavily worn 1928-S might be worth $30 to $40, while the price increases with the condition of the coin. Higher values are assigned to uncirculated coins.
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Condition and Grading Influence
The physical condition of a 1928-S Peace Silver Dollar is a significant determinant of its numismatic value. Professional grading services, such as PCGS and NGC, assign numerical grades based on factors like wear, surface preservation, and eye appeal. A coin graded Mint State (MS) commands a significantly higher value than a circulated example of the same issue. For instance, a 1928-S Peace Dollar graded MS-65 could be worth hundreds or even thousands of dollars, while a coin graded Very Good (VG) might be worth only a fraction of that amount. Professional grading gives a universal value to each coin based on condition.
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Historical Significance and Collector Demand
The 1928-S Peace Silver Dollar’s historical context contributes to its numismatic appeal. As a tangible artifact from the late 1920s, it represents a specific era in American history and coinage. The Peace Dollar design, symbolizing the end of World War I, adds to its intrinsic interest for collectors. Demand from collectors focused on completing a Peace Dollar set, or those interested in the San Francisco Mint, further impacts its value. Collector demand will always vary over time. Collectors have long been attracted to the Peace Dollar design for its beautiful art.
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Market Trends and Economic Factors
External factors, such as market trends and economic conditions, can influence the numismatic value of a 1928-S Peace Silver Dollar. Fluctuations in the price of silver can affect its baseline value, while broader economic downturns may lead to increased demand for tangible assets, including collectible coins. Similarly, the discovery of new hoards or the emergence of new collector trends can impact the market dynamics for this particular issue. Collectors and investors need to monitor market information.
In conclusion, the numismatic value of the 1928-S Peace Silver Dollar is a dynamic attribute shaped by a confluence of scarcity, condition, historical significance, and market forces. Understanding these elements is crucial for collectors seeking to acquire, evaluate, or sell this particular coin. The inherent appeal of the Peace Dollar design will ensure the coin’s value.
8. Investment Potential
The 1928-S Peace Silver Dollar, beyond its numismatic and historical value, presents a compelling case for consideration as an investment asset. Several factors contribute to its potential for appreciation and make it an attractive option for both seasoned investors and those new to coin collecting. Market trends and collector demand have historically increased coin values over time.
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Scarcity and Appreciation
The limited mintage of the 1928-S Peace Silver Dollar, coupled with attrition due to wear, damage, and melting, has created a situation of increasing scarcity. As fewer examples remain available, their value tends to appreciate over time, driven by collector demand and a finite supply. Well-preserved examples, particularly those graded Mint State by reputable grading services, command significant premiums and exhibit strong potential for continued appreciation. The number of coins in excellent condition keeps decreasing.
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Hedge Against Inflation
Precious metals, including silver, have historically served as a hedge against inflation. The 1928-S Peace Silver Dollar, composed of 90% silver, provides a tangible asset that can retain its value during periods of economic uncertainty and currency devaluation. While the coin’s numismatic value typically exceeds its melt value, the underlying silver content offers a baseline level of security. The silver protects the coin’s base value, and coin market increases value over time.
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Diversification of Portfolio
Investing in collectible coins, such as the 1928-S Peace Silver Dollar, can contribute to diversification within an investment portfolio. Coins offer a non-correlated asset class, meaning their performance is not directly tied to the stock market or other traditional investments. This diversification can help mitigate risk and enhance overall portfolio stability. Peace dollars are a relatively safe investment compared to stocks, bonds, and cryptocurrency.
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Tangible Asset and Long-Term Investment
The 1928-S Peace Silver Dollar represents a tangible asset that can be physically held and appreciated. Unlike digital assets or paper investments, the coin offers a sense of ownership and permanence. Investing in coins is often viewed as a long-term strategy, with the potential for significant returns over several decades. Careful storage and protection help to preserve the coin’s value. A safe investment, coins offer low risk and high reward.
In conclusion, the 1928-S Peace Silver Dollar offers a compelling investment proposition due to its scarcity, precious metal content, diversification potential, and tangible nature. While market fluctuations and grading standards must be carefully considered, the coin’s inherent value and historical significance make it a worthwhile addition to a well-rounded investment strategy. Prudent investors should research the Peace Dollar market and compare coin values before investing.
9. Historical Significance
The 1928-S Peace Silver Dollar represents a tangible link to a specific period in American history, encapsulating both economic and cultural sentiments of the late 1920s. Its existence provides insights into the post-World War I era, the prevailing monetary policies, and the artistic expression prevalent at the time. The coins historical significance is multifaceted, influencing its numismatic value and collector appeal.
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Symbol of Post-War Optimism
The Peace Dollar design, introduced in 1921, embodies the nation’s aspiration for enduring peace following the First World War. The 1928-S, as a later iteration of this design, continued to convey this message of hope and recovery. The coin’s release coincided with a period of relative economic prosperity in the United States, contributing to a sense of national optimism. Its presence in circulation reflected a belief in a stable future and a return to normalcy after years of global conflict.
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Reflection of Monetary Policy
The 1928-S Peace Silver Dollar reflects the prevailing monetary policies of the United States during the late 1920s. Its composition, 90% silver and 10% copper, adhered to the standards established for silver coinage at the time. The coin’s production was authorized under the Pittman Act of 1918, which aimed to replenish silver reserves depleted during the war. The 1928-S, therefore, represents a continuation of this policy and a tangible example of the government’s commitment to silver-backed currency.
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Artistic Representation of the Era
The Peace Dollar design, created by Anthony de Francisci, showcases the artistic sensibilities of the era. The obverse depicts Liberty as a youthful and modern figure, while the reverse features an eagle perched on a rock, symbolizing peace and strength. The design incorporates classical elements while embracing a more contemporary aesthetic. The 1928-S, as a product of this artistic vision, serves as a reminder of the cultural trends and artistic expressions that characterized the late 1920s.
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Evidence of San Francisco Mint Operations
The “S” mint mark on the 1928-S Peace Silver Dollar indicates its origin at the San Francisco Mint. This institution played a crucial role in the production of American coinage, particularly in the western United States. The 1928-S provides tangible evidence of the mint’s ongoing operations during a period of economic growth and expansion. Its existence helps to document the mint’s output and its contribution to the nation’s monetary system. The San Francisco Mint has an interesting history.
In conclusion, the historical significance of the 1928-S Peace Silver Dollar extends beyond its value as a collectible item. It serves as a tangible representation of a specific period in American history, reflecting the economic conditions, monetary policies, and artistic expressions of the late 1920s. Its existence provides valuable insights into the nation’s past and enhances its appeal for collectors and historians alike. Knowledge of the silver dollar can also shed light on monetary values and policies.
Frequently Asked Questions
The following questions address common inquiries and misconceptions surrounding the 1928-S Peace Silver Dollar, providing informative answers grounded in numismatic principles.
Question 1: What factors primarily influence the value of a 1928-S Peace Silver Dollar?
The value is chiefly determined by its condition, as graded by reputable services (PCGS, NGC), and its scarcity, which is linked to its mintage figures and surviving population. Market demand and precious metal content also play contributing roles.
Question 2: How does the San Francisco mint mark (“S”) affect the value of this coin?
The “S” mint mark denotes that the coin was struck at the San Francisco Mint. The mintage figures for the San Francisco Mint typically impact collectibility. Due to lower mintage volumes, coins bearing the “S” are valued more than those with no mint marks.
Question 3: Is the silver content of the 1928-S Peace Silver Dollar a significant factor in its overall value?
Yes, the silver content comprises 90% of the coin’s weight, contributing to its intrinsic value. While numismatic value often exceeds melt value, fluctuations in silver prices can influence the coin’s baseline worth. Investors will note the coin’s silver value and numismatic appeal.
Question 4: What are the key characteristics to look for when assessing the condition of this silver dollar?
Examine the coin for wear on high points, such as Liberty’s face and the eagle’s feathers. Assess the presence of scratches, abrasions, and luster. Consult grading standards from PCGS or NGC to understand how these factors translate to a numerical grade. High grade coins are very difficult to find in circulation.
Question 5: Does the Peace Dollar design itself influence its collectibility?
The Peace Dollar design, symbolizing the end of World War I, contributes to its historical significance and collector appeal. Many collectors find the Peace Dollar to be beautiful.
Question 6: How should a 1928-S Peace Silver Dollar be stored to maintain its value?
Store the coin in a dry, stable environment, away from direct sunlight and extreme temperature fluctuations. Use archival-quality holders or albums designed for coin storage to protect it from scratches and corrosion. Improper storage will reduce the coins value over time.
In summary, careful evaluation of condition, mint mark, silver content, and adherence to proper storage techniques are essential when dealing with the 1928-S Peace Silver Dollar. These coins are an excellent part of United States history.
The next section will provide insights into market trends and long-term investment strategies concerning this historically significant coin.
Tips
The following tips provide essential guidance for navigating the complexities of acquiring, assessing, and preserving a 1928-S Peace Silver Dollar. Adherence to these practices is crucial for maximizing investment potential and ensuring the long-term value of this numismatic asset.
Tip 1: Prioritize certified grading. Third-party grading services like PCGS and NGC offer objective assessments of condition. Encapsulated, graded coins provide assurance of authenticity and condition, critical for establishing market value. Uncertified coins may be cheaper.
Tip 2: Scrutinize mint marks meticulously. Ensure the “S” mint mark is authentic and properly positioned. Counterfeit mint marks diminish the coin’s value significantly. Examine it closely for counterfeiting.
Tip 3: Understand mintage figures. The 1928-S Peace Silver Dollar had a specific mintage number. Research and know this number to assess its relative scarcity within the Peace Dollar series. Knowledge of the original mintage figures impacts purchasing decisions.
Tip 4: Monitor silver market fluctuations. While numismatic value often exceeds melt value, movements in the price of silver will still affect the coin’s underlying worth, impacting investment strategy. Investors should pay attention to the current silver spot price.
Tip 5: Implement proper storage techniques. Store the 1928-S Peace Silver Dollar in acid-free holders or albums designed for coin preservation. Proper storage prevents corrosion and maintains its condition over time. Avoid storing the coin in humid locations.
Tip 6: Verify authenticity. Prior to purchasing, consult reputable dealers or numismatic experts to confirm the coin’s authenticity. Counterfeit coins hold no numismatic value. Counterfeiting is a threat to investors.
Tip 7: Research sales history. Before acquiring a 1928-S, examine recent sales data for comparable coins in similar grades to establish a fair market price. Pricing guides are available and should be followed.
By implementing these guidelines, collectors can significantly enhance their understanding of the 1928-S Peace Silver Dollar and approach their acquisitions with greater confidence and informed decision-making. Careful research is rewarded.
The subsequent section will summarize key takeaways from this article and offer concluding thoughts.
Conclusion
This exploration of the 1928-S Peace Silver Dollar underscores its multifaceted value, extending beyond mere silver content. Its historical context as a symbol of post-World War I optimism, coupled with its scarcity determined by mintage figures and surviving condition, contributes significantly to its numismatic desirability. The influence of grading services and the importance of proper storage further emphasize the need for informed acquisition and preservation strategies.
The 1928-S Peace Silver Dollar merits careful consideration by collectors and investors alike. Its inherent appeal, combined with its tangible connection to a specific period in American history, suggests a continued, if not increasing, value over time. Diligence in research, authentication, and storage practices will ensure the preservation of this valuable artifact for future generations. Interested parties should continue to consult with reputable numismatists and stay abreast of market trends to make well-informed decisions.
