The item in question is a United States coin struck from silver in the year 1928. It is a legal tender coin that was produced by the United States Mint. An example is the Peace dollar, a design emblematic of peace following World War I, which was minted in 1928 at the Philadelphia, Denver, and San Francisco mints.
These particular pieces of currency hold significance for collectors and historians alike. They represent a tangible link to a specific era in American history, reflecting the economic and artistic sensibilities of the time. Their value can extend beyond their intrinsic metal content, driven by factors such as rarity, condition, mint mark, and historical context, often making them attractive to numismatists and investors.
Understanding the nuances of coin grading, identifying mint marks, and researching historical production figures are crucial steps in appreciating the potential value and story behind each individual specimen. Subsequent sections will delve deeper into specific aspects related to these factors, providing a more detailed analysis.
1. Historical Context
The historical context surrounding the 1928 silver dollar coin is crucial for understanding its value and significance. The coin is not merely a piece of currency but a tangible artifact reflecting the economic, political, and social landscape of the late 1920s in the United States.
-
The Roaring Twenties and Economic Prosperity
The year 1928 was part of the “Roaring Twenties,” a period of economic boom and cultural change in the United States. This era witnessed increased industrial production, consumerism, and optimism. The silver dollar, as a circulating currency, reflected this economic activity. Its production levels and the publics acceptance of it as a medium of exchange provide insights into the economic health of the time.
-
The Aftermath of World War I
The Peace dollar design, which was common in 1928, was created to commemorate the end of World War I and the pursuit of peace. The imagery on the coin, including the depiction of Lady Liberty and the eagle, symbolized the nation’s aspirations for peace and prosperity after a major global conflict. The coin served as a daily reminder of the countrys commitment to these ideals.
-
The Silver Acts and Monetary Policy
The Bland-Allison Act of 1878 and the Sherman Silver Purchase Act of 1890, although repealed earlier, still had an impact on silver coinage. The government’s policies regarding silver purchase and coinage influenced the production of silver dollars. Understanding these policies provides context for the quantity of coins produced in 1928 and their subsequent distribution.
-
The Prelude to the Great Depression
While 1928 represented a period of prosperity, it also preceded the Stock Market Crash of 1929 and the subsequent Great Depression. The coins produced in 1928 serve as a marker of the economic peak before the downturn. Their survival and preservation offer a glimpse into a time of relative economic stability before a period of widespread hardship.
These facets of historical context demonstrate that the 1928 silver dollar coin is more than just a piece of currency; it is a historical artifact that encapsulates a specific moment in American history. Its value is enhanced by understanding the economic conditions, political climate, and social aspirations of the era in which it was produced.
2. Mint mark location
The mint mark on a 1928 silver dollar coin is a critical element influencing its value and indicating its origin. This small letter, or absence thereof, designates the specific United States Mint facility where the coin was struck. The Philadelphia Mint, Denver Mint, and San Francisco Mint were operational at the time, each potentially producing the 1928 silver dollar. A ‘D’ mint mark signifies Denver production, an ‘S’ indicates San Francisco origin, while coins struck in Philadelphia typically lack a mint mark. The differing production volumes at each mint directly impact the scarcity and, consequently, the numismatic value of the coin. For instance, if the San Francisco Mint produced a significantly lower number of 1928 silver dollars compared to Philadelphia, a 1928-S coin would generally command a higher premium among collectors. Its location is near the bottom of the reverse side of the coin, between the ‘O’ and ‘N’ of ONE.
The accurate identification of the mint mark location is essential for proper coin authentication and valuation. Counterfeit coins often exhibit inconsistencies in the placement, style, or presence of the mint mark. Furthermore, certain mint mark varieties, such as repunched mint marks or doubled die mint marks, can significantly increase a coin’s value due to their rarity and collectibility. Thorough examination of the mint mark under magnification is a standard practice among numismatists to identify these subtle variations and assess the coin’s authenticity.
In summary, the mint mark location on a 1928 silver dollar coin serves as a vital identifier, influencing its value and verifying its authenticity. Correct interpretation of the mint mark, and a detailed understanding of its location, are fundamental to appreciating the history and assessing the potential worth of this particular coin. The challenges in identifying subtle mint mark varieties underscore the importance of expert knowledge in numismatics.
3. Silver content purity
The silver content purity of a 1928 silver dollar coin is a defining characteristic that significantly impacts its intrinsic value and historical importance. Specifically, these coins are composed of 90% silver and 10% copper, a standard established for silver coinage in the United States to balance durability with precious metal content. This composition means that a typical 1928 silver dollar contains approximately 0.77344 troy ounces of pure silver. The precise silver content is crucial because the coin’s melt value is directly tied to the current market price of silver. Fluctuations in silver prices directly affect the minimum worth of the coin, regardless of its numismatic value. For example, if silver is trading at $25 per troy ounce, the melt value of a 1928 silver dollar would be approximately $19.34.
Beyond its impact on melt value, the silver content purity also contributes to the coin’s historical significance. The United States’ commitment to silver coinage in the early 20th century reflected the economic policies and monetary standards of the time. The decision to maintain a high silver content in these dollars was a deliberate effort to ensure their acceptance and utility in commerce, both domestically and internationally. The copper component, while seemingly minor, was essential to enhance the coin’s resistance to wear and tear during circulation. A coin made of pure silver would be too soft and easily damaged, making it impractical for everyday use. The precise 90/10 blend struck the necessary balance between value and functionality.
In conclusion, the silver content purity of the 1928 silver dollar coin is not merely a technical specification but a fundamental aspect of its identity, value, and historical context. It defines the coin’s intrinsic worth based on precious metal content and provides insight into the economic and monetary policies of the era. Understanding this purity is essential for both collectors and investors, as it allows them to assess the coin’s true value and appreciate its role in American history. The standardization of this content also presents a benchmark for assessing the authenticity and integrity of the coin, helping to prevent the proliferation of counterfeits and ensuring the enduring legacy of the 1928 silver dollar.
4. Rarity by mintage
The concept of rarity by mintage is intrinsically linked to the value of a 1928 silver dollar coin. The number of coins produced at each minting facility directly impacts their availability to collectors, thereby influencing their desirability and market price. Low mintage figures generally translate to higher premiums, especially for coins in well-preserved condition.
-
Total Production Numbers
The aggregate number of 1928 silver dollars struck across all mints established a baseline for scarcity. Higher overall production might suggest lower individual coin values, but this is offset by factors such as mint location and coin condition. Total production figures provide a reference point for assessing individual coin rarity.
-
Mint-Specific Production
Variations in production volumes between the Philadelphia, Denver, and San Francisco mints create distinct levels of rarity. For example, if the San Francisco Mint produced significantly fewer 1928 silver dollars than the Philadelphia Mint, the 1928-S coin commands a higher price due to its relative scarcity. These mint-specific production numbers are crucial for determining a coin’s potential value.
-
Survival Rates
The number of coins that survived in collectible condition further refines the assessment of rarity. Factors such as handling, storage conditions, and historical events impact the preservation of these coins. Even if the original mintage was relatively high, a low survival rate can elevate a coin’s value. Accurately estimating the survival rate requires expertise in numismatics and access to historical records.
-
Impact of Hoarding and Melting
Historical hoarding and melting practices influence the availability of 1928 silver dollars. During periods of economic uncertainty or rising silver prices, individuals might have hoarded these coins or melted them down for their silver content. Such practices reduce the number of coins available to collectors, thereby increasing the value of the remaining specimens. Understanding these historical factors is essential for comprehending the current market dynamics for 1928 silver dollars.
The interplay between total production, mint-specific output, survival rates, and historical practices shapes the rarity of 1928 silver dollar coins. Assessing these factors requires a combination of historical data analysis, numismatic expertise, and an understanding of market dynamics. Ultimately, rarity by mintage is a cornerstone of determining the value and desirability of these coins among collectors and investors.
5. Condition grading scale
The condition grading scale is a standardized system used to assess the physical state of a 1928 silver dollar coin, significantly impacting its numismatic value. This scale, primarily defined by the Sheldon Scale and adapted by organizations such as the Professional Coin Grading Service (PCGS) and the Numismatic Guaranty Corporation (NGC), provides a consistent method for evaluating coin preservation and assigning a grade ranging from Poor (PO-1) to Perfect Uncirculated (MS-70). The assigned grade directly influences the coin’s market value, with higher grades commanding substantial premiums due to their rarity and aesthetic appeal. For example, a 1928 Peace dollar in MS-65 condition can be worth significantly more than the same coin graded AU-50 (Almost Uncirculated), even though both coins show minimal wear. The subtle differences in surface preservation, luster, and strike quality differentiate these grades and justify the price disparity. This scale is crucial for establishing a 1928 silver dollar coin.
The grading process involves a meticulous examination of the coin’s surface, paying close attention to factors such as wear, scratches, luster, and eye appeal. Professionals scrutinize the coin under magnification to identify minute imperfections that can affect the grade. Wear, particularly on high points of the design, is a primary determinant of grade. The presence and quality of the original mint luster also play a significant role, as luster diminishes with handling and environmental exposure. Real-life examples illustrate the importance of accurate grading; a 1928-S Peace dollar, a relatively scarce coin, could be worth hundreds of dollars in AU condition but thousands in MS condition. This underlines the practical significance of condition grading in determining a coin’s true market value.
In summary, the condition grading scale is an indispensable tool for valuing 1928 silver dollar coins. It provides a standardized framework for assessing a coin’s physical state, enabling collectors and dealers to accurately determine its market value. While the grading process is subjective to some extent, the established criteria and professional expertise involved contribute to a reliable system. Understanding the condition grading scale is essential for anyone involved in buying, selling, or collecting 1928 silver dollar coins, as it directly impacts their investment and appreciation of these historical artifacts.
6. Numismatic value impact
The numismatic value impact on a 1928 silver dollar coin represents the culmination of several factors that transcend the coin’s intrinsic silver content. It embodies the subjective premium assigned by collectors and investors based on rarity, condition, historical significance, and aesthetic appeal, collectively influencing its market price.
-
Rarity Premium
A primary driver of numismatic value is the coin’s rarity, dictated by its mintage figures at different mints. For instance, a 1928-S Peace dollar, produced in lower quantities compared to its Philadelphia counterpart, commands a higher premium. In real-world scenarios, this increased rarity translates directly into higher auction prices and dealer markups, reflecting the demand from collectors seeking to complete their sets. If the 1928-S silver dollar price can be thousands of dollars at auction, its value is significantly greater than the silver value.
-
Condition Sensitivity
The physical condition of a 1928 silver dollar coin profoundly influences its numismatic value. Coins graded as Mint State (MS) with exceptional luster and minimal imperfections are highly sought after and fetch substantially higher prices than circulated examples. Consider a 1928 Peace dollar in MS-65 condition; its flawless preservation and original mint brilliance could increase its value exponentially, demonstrating the critical role of condition in determining collector appeal and monetary worth.
-
Historical Significance Influence
The historical context surrounding the 1928 silver dollar coin adds a layer of intangible value. As a product of the Roaring Twenties and a symbol of post-World War I aspirations for peace, the coin resonates with collectors interested in American history. This historical association amplifies its desirability and contributes to its numismatic value, positioning it as more than just a piece of currency but as a tangible artifact of a specific era.
-
Collector Demand and Market Sentiment
Prevailing market sentiment and collector demand exert considerable influence on the numismatic value of 1928 silver dollar coins. Periods of increased interest in silver dollars or historical coin collecting can drive up prices, particularly for rare or high-grade examples. Market trends and collector preferences play a critical role in fluctuating coin values, highlighting the dynamic and subjective nature of numismatic valuation.
These facets collectively underscore that the numismatic value impact extends well beyond the coin’s silver content, incorporating factors related to rarity, condition, historical significance, and market sentiment. This complex interplay determines the premium that collectors and investors are willing to pay, solidifying the 1928 silver dollar coin’s place as a valuable and historically significant collectible.
7. Design artistry merit
The aesthetic qualities of the 1928 silver dollar coin significantly contribute to its overall appeal and numismatic value. The design, whether the Morgan or Peace dollar, reflects the artistic sensibilities of its time and influences collector interest and appreciation.
-
Symbolism and Imagery
The symbolism embedded within the design elements of the 1928 silver dollar enhances its artistic value. The Peace dollar, for example, features Lady Liberty on the obverse and an eagle perched on a rock with an olive branch on the reverse, symbolizing peace after World War I. These images, rich in historical and cultural context, appeal to collectors who appreciate the artistry and meaning behind the coin’s design. This contributes directly to an increased demand for these historical pieces.
-
Engraver’s Skill and Execution
The skill of the engraver in executing the design directly impacts the coin’s aesthetic quality. Sharp strikes, well-defined details, and smooth surfaces enhance the visual appeal of the 1928 silver dollar. The engraver’s ability to translate the intended design into a tangible form influences the coin’s overall artistic merit. Flaws or imperfections in the engraving can diminish the coin’s aesthetic value, influencing collector preference and premium pricing.
-
Artistic Style and Influence
The design of the 1928 silver dollar reflects the artistic style prevalent at the time of its creation. The Peace dollar, designed by Anthony de Francisci, showcases a departure from earlier coin designs, embracing a more modern and streamlined aesthetic. Understanding the artistic influences that shaped the coin’s design provides insight into its aesthetic significance. Comparisons with other contemporary artistic movements help evaluate the uniqueness and innovative aspects of the coin’s design.
-
Collector Appreciation and Subjectivity
While objective criteria exist for evaluating the quality of a coin’s design, collector appreciation remains subjective. Some collectors may favor the historical symbolism of the Peace dollar, while others may appreciate the intricate details of the Morgan dollar. This subjective element contributes to the market value, as demand for specific design features influences pricing and collector preference. The artistic merit of these coins is, in part, determined by the emotional and intellectual response they evoke among collectors.
These elements collectively underscore the importance of design artistry merit in appreciating the 1928 silver dollar coin. The interplay of symbolism, engraver’s skill, artistic style, and collector appreciation contributes to its overall value and appeal, solidifying its status as both a historical artifact and a work of art.
8. Economic era reflection
The 1928 silver dollar coin serves as a tangible reflection of the economic conditions and societal values prevalent during the late 1920s in the United States. Its production, distribution, and usage patterns are directly correlated with the economic prosperity and optimism characteristic of the “Roaring Twenties.” The widespread acceptance of the silver dollar as a medium of exchange indicated confidence in the stability of the nation’s monetary system and the overall economic health of the period. This widespread usage would not exist without a healthy economy to support it. For instance, high levels of industrial production and increased consumer spending fueled the demand for currency, including silver dollars, to facilitate transactions. The existence of these coins is a direct reflection of this economic strength.
Furthermore, the composition of the coin itself reflects the economic policies of the time. The 90% silver content, established by previous legislation, was a deliberate effort to maintain a bimetallic standard, linking the nation’s currency to both gold and silver. While the economic debates surrounding bimetallism had largely subsided by 1928, the silver dollar remained a vestige of these earlier monetary policies. The coin, therefore, serves as a physical embodiment of the ongoing tension between different economic philosophies. The high silver content, though costly to maintain, reflects the need to meet certain economic policy during this specific era. For example, this policy was intended to benefit the Western mining states which were dependent on silver.
In summary, the 1928 silver dollar coin is more than a mere piece of currency; it is a microcosm of the economic forces and societal values shaping the United States in the late 1920s. From its production and distribution patterns to its metallic composition, the coin provides valuable insights into the economic climate of the era. The understanding of the 1928 silver dollar economic era reflection is crucial, particularly to understanding the historical context of numismatics and economic policy.
Frequently Asked Questions
The following section addresses common inquiries regarding the 1928 silver dollar coin, providing concise and factual information for collectors and enthusiasts.
Question 1: What determines the value of a 1928 silver dollar coin?
The value is influenced by factors including condition (graded on the Sheldon Scale), mint mark (Philadelphia, Denver, or San Francisco), silver content, mintage figures, and overall market demand. Coins in uncirculated condition with low mintage numbers generally command higher prices.
Question 2: How can the authenticity of a 1928 silver dollar coin be verified?
Authenticity can be verified by examining the coin’s weight, dimensions, and design details. Counterfeit coins often deviate from the standard specifications. Professional grading services like PCGS and NGC provide authentication and grading services.
Question 3: What is the silver content of a 1928 silver dollar coin?
The 1928 silver dollar coin contains 90% silver and 10% copper, with approximately 0.77344 troy ounces of pure silver.
Question 4: Where is the mint mark located on a 1928 silver dollar coin?
The mint mark, if present, is located on the reverse side of the coin, below the eagle and above the letters “ONE”. A “D” indicates Denver, and an “S” indicates San Francisco. Coins minted in Philadelphia do not have a mint mark.
Question 5: What is the historical significance of the 1928 silver dollar coin?
The 1928 silver dollar coin reflects the economic prosperity of the Roaring Twenties and the post-World War I era. It is a tangible artifact of American history, embodying the artistic and economic sensibilities of the time.
Question 6: How does the condition of a 1928 silver dollar coin affect its value?
The condition, as assessed by professional grading services, significantly impacts value. Coins in higher grades (e.g., MS-65) with minimal wear and strong luster are more valuable than circulated coins.
Understanding these factors provides a foundation for appreciating the value and historical significance of the 1928 silver dollar coin.
The following section will explore strategies for investing in and collecting 1928 silver dollar coins.
Investing and Collecting Strategies for 1928 Silver Dollar Coin
This section provides guidance on effectively investing in and collecting these coins, focusing on research, preservation, and diversification.
Tip 1: Conduct Thorough Research: Prior to acquisition, conduct detailed research on mintage figures, mint mark variations, and historical market values. Consult reputable numismatic resources and price guides to establish a baseline understanding of the coin’s potential worth. For example, understanding the differences in production numbers between the Philadelphia, Denver, and San Francisco mints is crucial for assessing rarity.
Tip 2: Prioritize Coin Grading: Seek coins that have been professionally graded by recognized services such as PCGS or NGC. Third-party grading provides an objective assessment of the coin’s condition, reducing the risk of overpaying for misrepresented specimens. A certified MS-65 (Mint State) coin will generally command a higher premium than an ungraded coin of similar appearance.
Tip 3: Focus on Key Dates and Mint Marks: Certain dates and mint marks within the 1928 silver dollar series are inherently rarer than others. Prioritize acquiring coins with significant numismatic value due to low mintage figures or unique historical attributes. The 1928-S Peace dollar, for example, is often more sought after than its Philadelphia counterpart due to its lower production numbers.
Tip 4: Emphasize Preservation: Proper storage is essential for maintaining the condition of 1928 silver dollar coins. Store coins in acid-free holders or albums to prevent environmental damage and handling wear. Avoid cleaning coins, as this can diminish their numismatic value. A coin damaged by improper handling will decrease its condition value.
Tip 5: Diversify Holdings: Spread investments across multiple 1928 silver dollar coins with varying mint marks and grades to mitigate risk. Diversification reduces the impact of market fluctuations on any single coin within the collection. If one coin in your collection has a value decrease, this does not mean your entire portfolio will be at a loss.
Tip 6: Stay Informed on Market Trends: Continuously monitor market trends and auction results to identify opportunities and make informed investment decisions. Subscribe to numismatic publications and attend coin shows to remain updated on the latest developments in the market. Many collectors will seek certain pieces that can increase the demand for them at a high valuation.
These guidelines provide a framework for making informed decisions when investing in and collecting 1928 silver dollar coins. Diligent research, proper preservation, and a diversified approach are essential for maximizing the potential return on investment and preserving these historical artifacts.
The subsequent section will present a concluding overview of the importance of the 1928 silver dollar coin within the broader context of numismatics and American history.
Conclusion
The preceding analysis has illuminated the multifaceted nature of the 1928 silver dollar coin. Its value extends beyond its intrinsic silver content, encompassing historical context, mint-specific rarity, condition grading, design artistry, and reflections of the economic era in which it was produced. Each element contributes to the coin’s numismatic significance, making it a compelling subject for both collectors and investors.
Further research and diligent preservation efforts are essential to fully appreciate and safeguard the legacy of the 1928 silver dollar coin. Recognizing the historical importance and intricacies of these coins ensures their continued value and preservation for future generations, serving as tangible links to a pivotal period in American history and economic policy. The understanding that the silver dollar is more than just metal is key to preserving them.
