A notable example of United States coinage, this particular silver dollar represents a significant period in American history. Struck in 1928, it exemplifies the artistic style and minting practices of the era, featuring a design intended to symbolize peace following World War I. Its composition is primarily silver, contributing to its intrinsic value and appeal to collectors.
This coin holds substantial importance due to its historical context and relatively low mintage numbers compared to other years in the series. This has resulted in increased demand within the numismatic community. The combination of its silver content, historical significance, and collectibility contributes to its perceived value and makes it a sought-after piece for both seasoned collectors and those new to the hobby.
Further exploration of the series of which it is a part will reveal insights into its production, design variations, and factors affecting its current market value. Detailed examination of the coin’s characteristics, including its condition and any identifying marks, is crucial for accurate assessment and valuation. The information presented will help one navigate the complexities of collecting and investing in such valuable and historical pieces.
1. Silver Composition
The intrinsic value of the 1928 Peace Silver Dollar is fundamentally linked to its silver composition. Struck from a 90% silver and 10% copper alloy, its bullion value fluctuates directly with the prevailing silver market price. This composition was standard for United States silver coinage of the era, established by law. Therefore, any analysis of the coin’s potential worth must begin with a consideration of the current spot price of silver. For example, if silver trades at $25 per ounce, the raw silver content contributes a significant portion to the coin’s overall value, even before considering its numismatic worth.
Beyond the immediate economic impact, the high silver content contributed to the coin’s durability and preservation over time. Silver is relatively resistant to corrosion, which has allowed many examples to survive in reasonably good condition, enhancing their collectibility. Furthermore, the specific alloy mixture influenced the coin’s strike quality and luster, characteristics sought after by collectors. A well-struck coin with original luster is typically more desirable and commands a higher premium. Even subtle variations in the alloy mixing process during minting could impact the coin’s long-term appearance and appeal.
In conclusion, the silver composition is not merely a material fact but an integral aspect influencing both the inherent and collectible value of the 1928 Peace Silver Dollar. While numismatic value is driven by scarcity, condition, and historical significance, the underlying silver content provides a baseline worth and contributes to the coin’s physical characteristics, ultimately shaping its enduring appeal and market performance. Understanding this connection is paramount for anyone seeking to buy, sell, or appreciate this iconic coin.
2. High Relief Design
The 1928 Peace Silver Dollar’s design, while not as pronounced in high relief as the initial 1921 issues, still retains a noticeable three-dimensional quality that is key to its aesthetic appeal. This characteristic, resulting from the depth and projection of the design elements above the coin’s field, was intended to convey strength and artistic merit. However, this design feature presented production challenges. The higher the relief, the more pressure required during striking, potentially leading to increased die wear and less sharply defined details on some coins. The degree of relief directly influenced the coin’s susceptibility to wear; high points on the design were more prone to abrasion and consequent degradation of the coin’s overall appearance. This interplay between artistic vision and practical constraints played a role in the eventual standardization of the Peace Dollar design.
The visual impact of the high relief design also affects a coin’s perceived value and collectibility. Examples exhibiting crisp details, particularly in areas such as Lady Liberty’s hair and the eagle’s feathers, are considered more desirable. The higher the relief, the more susceptible these details are to weakening with circulation. Consequently, well-preserved specimens with minimal wear in these critical areas command higher premiums in the numismatic market. For example, a 1928 Peace Silver Dollar graded MS-65 (Mint State) with strong relief details will typically be valued significantly higher than a similar coin with softened details resulting from either wear or a weak strike. The high relief, therefore, becomes a key factor in assessing the coin’s grade and market value.
In summary, the high relief design of the 1928 Peace Silver Dollar represents a balance between artistic intention and practical limitations in minting. This feature directly affects the coin’s visual appeal, susceptibility to wear, and ultimately, its value to collectors. Recognizing the influence of the high relief design on the coin’s condition and aesthetic qualities is essential for accurate grading and informed valuation within the numismatic context. Understanding this interaction allows for a more nuanced appreciation of the coin’s historical and artistic significance.
3. Philadelphia Mint
The Philadelphia Mint holds a central role in the narrative of the 1928 Peace Silver Dollar. As the primary minting facility in the United States, its production volume and quality control directly impacted the availability and characteristics of this particular coin. The presence or absence of a mint mark, typically found on other coins produced at branch mints, is a key feature for identifying those specimens originating from Philadelphia.
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Absence of Mint Mark
Coins produced at the Philadelphia Mint during this period, including the 1928 Peace Silver Dollar, lack a mint mark. This absence serves as an identifying characteristic, distinguishing them from coins struck at other mints like Denver or San Francisco, which bear a “D” or “S” mint mark, respectively. The lack of a mint mark is not an error but a standard practice, indicating Philadelphia as the point of origin. The implications are significant for collectors, as it simplifies the identification process and helps in attributing the coin’s production to the Philadelphia facility.
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Production Volume
The Philadelphia Mint was responsible for the majority of 1928 Peace Silver Dollar production. Its higher production capacity meant a larger number of these coins entered circulation, influencing their current availability. While not the rarest of the Peace Dollar series, the significant quantity produced at Philadelphia contributes to its relative affordability compared to lower-mintage dates. This higher volume also means that a wider range of conditions are available, from circulated examples to those preserved in near-mint state. The vast output from Philadelphia shapes the market dynamics and accessibility of the 1928 Peace Silver Dollar.
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Quality Control
The Philadelphia Mint’s quality control standards during the 1920s impacted the strike quality and overall appearance of the 1928 Peace Silver Dollar. Well-struck examples from Philadelphia, exhibiting sharp details and lustrous surfaces, are particularly sought after by collectors. Variations in striking pressure and die condition could result in inconsistencies, leading to differences in the clarity of the design elements. These subtle variations, observable under magnification, contribute to the individuality of each coin and affect its grading and market value. The quality control processes, though consistent, were subject to minor fluctuations that ultimately influenced the collector appeal of individual specimens.
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Economic Impact
The decision to strike Peace Silver Dollars at the Philadelphia Mint had a direct economic impact. The mint’s operations provided employment and consumed resources, contributing to the local economy. The volume of silver required for minting these coins influenced silver prices and trade dynamics. The output of Peace Dollars from the Philadelphia Mint facilitated commerce and financial transactions across the nation. Therefore, the mint’s role extended beyond simply producing coins; it was an integral component of the broader economic landscape of the time. The consistent operation of the Philadelphia Mint ensured a steady supply of coinage to meet the demands of a growing economy.
In conclusion, the Philadelphia Mint’s involvement in the production of the 1928 Peace Silver Dollar is multifaceted. From the absence of a mint mark to its high production volume and quality control standards, the mint’s influence is deeply ingrained in the coin’s identity and value. Understanding these connections provides a more complete appreciation of the 1928 Peace Silver Dollar within its historical and numismatic context, enriching the collector’s experience and informing investment decisions.
4. Circulation Figures
The circulation figures for the 1928 Peace Silver Dollar are critical in understanding its relative scarcity, current market value, and availability to collectors. The number of coins initially released into circulation directly influences their condition today and their presence within the numismatic market.
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Original Mintage Numbers
The United States Mint records document the original mintage figure for the 1928 Peace Silver Dollar. This number, while significant, does not fully represent the quantity that survived to the present day. Coins were melted down over time due to fluctuations in silver prices or were lost through attrition. The initial mintage establishes the starting point for evaluating the coin’s rarity.
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Impact of the Pittman Act
The Pittman Act of 1918 authorized the melting of millions of silver dollars. While primarily affecting Morgan Silver Dollars, the Act also influenced the overall supply of silver dollars available, indirectly affecting the Peace Dollar series. The Act’s ramifications resulted in increased minting of silver dollars to replace those melted down, thus affecting the circulation figures of later years, including 1928.
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Survival Rates and Condition
Circulation subjects coins to wear and tear, impacting their condition. Higher circulation figures generally translate to a larger pool of worn coins. However, the number of well-preserved 1928 Peace Silver Dollars is limited due to the effects of daily use. Consequently, high-grade examples command a substantial premium in the collector market. The inverse relationship between circulation figures and surviving condition is a critical factor in determining a coin’s value.
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Regional Distribution and Hoarding
The distribution of 1928 Peace Silver Dollars across different regions of the United States influenced their preservation. Areas with a higher propensity for coin collecting or hoarding practices may have retained a larger proportion of uncirculated or lightly circulated specimens. Regional variations in economic conditions and collecting habits contributed to the uneven survival rates observed today.
In summary, circulation figures provide a crucial benchmark for assessing the 1928 Peace Silver Dollar’s current status within the numismatic community. When combined with considerations of the Pittman Act, survival rates, and regional distribution, a clearer understanding of the coin’s scarcity and value emerges. These figures highlight the interplay between historical context, economic factors, and collector demand in shaping the market dynamics of this iconic silver dollar.
5. Collector Demand
Collector demand significantly influences the value and market dynamics surrounding the 1928 Peace Silver Dollar. This demand stems from a confluence of factors, including the coin’s historical significance, aesthetic appeal, and relative scarcity, all of which contribute to its desirability among numismatists.
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Historical Significance
The Peace Silver Dollar, minted to commemorate the end of World War I, carries substantial historical weight. Collectors seek to acquire pieces that represent important periods and events in American history. The 1928 issue, as part of this series, benefits from this historical association, making it a popular choice for those assembling collections focused on U.S. coinage or the post-war era. For example, collectors may prioritize obtaining a 1928 Peace Dollar to complement their collections of Morgan Dollars or other coins from the early 20th century, thereby enhancing the historical narrative of their holdings.
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Condition Rarity
While not the rarest date in the Peace Dollar series, the 1928 issue is relatively scarce in higher grades. Coins in uncirculated or near-uncirculated condition are highly sought after, as they exhibit the original luster and detail that are often lost through circulation. Collector demand drives up the prices for these pristine examples, creating a significant premium for coins graded MS-65 (Mint State) or higher. The disparity in value between circulated and uncirculated examples underscores the importance of condition to collectors and the impact of this factor on market pricing.
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Series Completion
Many collectors aim to assemble a complete set of Peace Silver Dollars, encompassing all dates and mint marks. The 1928 issue is a necessary component for achieving this goal, creating consistent demand. As collectors progress toward completing their sets, they often seek out specific dates, including the 1928, thereby maintaining its desirability in the market. This pursuit of series completion ensures a steady base level of demand, regardless of broader economic trends or fluctuations in the price of silver.
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Investment Potential
Beyond its numismatic appeal, the 1928 Peace Silver Dollar is also viewed as an investment. Collectors and investors alike recognize the potential for value appreciation over time, driven by the coin’s intrinsic silver content, historical significance, and increasing scarcity. This investment motivation further fuels demand, particularly during periods of economic uncertainty or when precious metals are seen as a safe haven asset. The combination of collector interest and investment considerations contributes to the sustained market value of the 1928 Peace Silver Dollar.
In conclusion, collector demand for the 1928 Peace Silver Dollar is a multifaceted phenomenon driven by historical interest, condition rarity, the desire for series completion, and investment potential. These factors collectively contribute to its enduring appeal and market value, highlighting its significance within the broader landscape of numismatics.
6. Numismatic Value
The numismatic value of a 1928 Peace Silver Dollar extends beyond its intrinsic silver content, encompassing factors that appeal to collectors and influence its market worth. This value is shaped by a combination of rarity, condition, historical context, and aesthetic appeal, making it a complex assessment that requires careful consideration.
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Grade and Condition
The condition of a 1928 Peace Silver Dollar is paramount in determining its numismatic value. Coins are graded on a scale ranging from Poor (P-1) to Mint State (MS-70), with higher grades commanding significantly higher prices. A coin graded MS-65, for instance, exhibits minimal imperfections and retains its original luster, making it far more valuable than a heavily circulated example. The presence of scratches, dents, or wear reduces a coin’s grade and, consequently, its numismatic worth. Certified grading by reputable services like PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Corporation) provides assurance and standardization, increasing buyer confidence and justifying higher valuations.
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Rarity and Mintage Figures
While the 1928 Peace Silver Dollar is not the rarest date in the series, its mintage figures contribute to its overall numismatic value. Lower mintage numbers typically translate to increased scarcity and higher demand among collectors. Although the Philadelphia Mint produced a substantial quantity of 1928 Peace Dollars, the number of surviving high-grade examples is limited, adding a layer of condition rarity. Furthermore, certain varieties, such as those with striking errors or subtle design differences, can be exceptionally rare and valuable. Researching mintage figures and identifying potential varieties are essential steps in assessing the numismatic potential of a 1928 Peace Silver Dollar.
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Historical Context and Demand
The historical context of the Peace Silver Dollar, symbolizing peace after World War I, enhances its appeal to collectors. The coin’s design, featuring Lady Liberty on the obverse and an eagle on the reverse, reflects the artistic and cultural sentiments of the era. Demand for the 1928 Peace Dollar is driven by both seasoned collectors and those new to numismatics, seeking to own a tangible piece of American history. Market trends, economic conditions, and the overall popularity of silver dollars all influence demand and, consequently, the coin’s numismatic value. External factors, such as anniversaries or commemorative events, can also spur renewed interest and price appreciation.
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Eye Appeal and Aesthetics
The subjective element of eye appeal plays a role in determining numismatic value. A coin with attractive toning, strong luster, and well-defined details is generally more desirable than a dull or damaged specimen, even if both share the same numerical grade. Toning, the natural oxidation process that occurs over time, can enhance a coin’s beauty and increase its collectibility, particularly if the toning is even and aesthetically pleasing. Conversely, unattractive toning or artificial treatments can diminish a coin’s value. Collectors often pay a premium for coins that possess exceptional eye appeal, reflecting the artistic and subjective aspects of numismatic valuation.
In conclusion, the numismatic value of a 1928 Peace Silver Dollar is a complex interplay of tangible and intangible factors. While the coin’s silver content provides a baseline value, it is the combination of condition, rarity, historical context, and eye appeal that ultimately determines its worth in the collector market. A thorough understanding of these elements is essential for anyone seeking to buy, sell, or appreciate the enduring appeal of this iconic silver dollar.
7. Peace Symbolism
The 1928 Peace Silver Dollar is inextricably linked to the peace symbolism it embodies. Designed in the aftermath of World War I, the coin served as a tangible representation of the nation’s aspiration for enduring peace and a return to normalcy. The coin’s imagery, carefully chosen, was intended to resonate with the American public and convey a message of hope and reconciliation. Lady Liberty, depicted on the obverse, is portrayed as youthful and serene, moving away from the war-like imagery of earlier coins. The broken sword on the reverse, positioned at the base of the eagle’s perch, symbolizes the disarmament and cessation of hostilities following the conflict. This imagery was not merely decorative; it was a conscious effort to promote a sense of optimism and national unity.
The importance of peace symbolism as a component of the 1928 Peace Silver Dollar is underscored by its role in shaping public perception and fostering a sense of national identity. The coin’s design became a widely recognized emblem of American values and aspirations, circulating in everyday commerce and reminding citizens of the nation’s commitment to peace. For example, during the interwar period, the Peace Dollar served as a counterpoint to the lingering trauma and disillusionment caused by the war, offering a vision of a more hopeful future. Its symbolic value extended beyond national borders, projecting an image of the United States as a proponent of international cooperation and stability. Understanding the peace symbolism inherent in the 1928 Peace Silver Dollar provides insight into the socio-political context of the time and the coin’s intended purpose as a vehicle for promoting peace and unity.
In summary, the peace symbolism integrated into the design of the 1928 Peace Silver Dollar is integral to its historical significance and enduring appeal. It serves as a reminder of the aspirations and challenges faced by the United States in the aftermath of World War I, highlighting the importance of peace and unity in shaping national identity. While the coin’s intrinsic value and collector demand contribute to its market worth, its symbolic value provides a deeper understanding of its role as a historical artifact and a tangible representation of American ideals. The coin’s message continues to resonate today, underscoring the enduring relevance of peace symbolism in a world still grappling with conflict and division.
8. Historical Context
The 1928 Peace Silver Dollar is best understood through the lens of its historical context, representing a confluence of post-World War I sentiments, economic policies, and artistic expression. Following the immense devastation of the Great War, there was a global yearning for peace. The Peace Silver Dollar, authorized by the Pittman Act and designed by Anthony de Francisci, directly reflected this desire. The coin’s imagerya serene Lady Liberty and an eagle perched on a broken swordsymbolized the nation’s commitment to peace and the cessation of hostilities. Its release coincided with the Roaring Twenties, a period of economic growth and cultural transformation in the United States. However, beneath the surface of prosperity, factors such as agricultural distress and income inequality were brewing, ultimately contributing to the Great Depression. The 1928 Peace Dollar, therefore, exists as a marker of this pivotal period, embodying both the optimism and the underlying economic vulnerabilities of the era. The historical context provides a crucial framework for interpreting the coin’s design, production, and subsequent reception by the public.
The economic factors of the time also directly influenced the production and circulation of the 1928 Peace Silver Dollar. The Pittman Act, initially intended to replenish the silver reserves after sales to Great Britain during the war, mandated the minting of millions of silver dollars. Fluctuations in silver prices and government policies affected the volume and quality of coinage produced. For example, periods of economic downturn sometimes led to the melting down of silver dollars for their bullion value, reducing the number of surviving examples. The relative stability of the American economy in 1928 contributed to the coin’s continued circulation and preservation. Understanding these economic forces is essential for comprehending the relative scarcity and value of the 1928 Peace Silver Dollar in today’s numismatic market. The coin’s survival is inextricably linked to the economic decisions and conditions prevailing throughout the 20th century.
In conclusion, the historical context is an indispensable element in appreciating the 1928 Peace Silver Dollar. It provides insights into the coin’s intended symbolism, the economic forces that shaped its production, and the social climate that influenced its reception. Recognizing this context enables a more nuanced understanding of the coin’s significance as a tangible artifact of a transformative period in American history. While assessing a coin’s grade and rarity is crucial for valuation, knowledge of its historical backdrop elevates it from a mere object of monetary worth to a meaningful symbol of a nation’s aspirations and challenges.
Frequently Asked Questions
This section addresses common inquiries regarding the 1928 Peace Silver Dollar, providing concise and informative answers for collectors and enthusiasts.
Question 1: What distinguishes the 1928 Peace Silver Dollar from other years in the series?
The 1928 issue is differentiated primarily by its mintage figures, which are neither the highest nor the lowest within the Peace Dollar series. It is also identified by the absence of a mint mark, indicating production at the Philadelphia Mint.
Question 2: How does silver content impact the value of a 1928 Peace Silver Dollar?
The coin’s silver content directly influences its intrinsic value, which fluctuates with the prevailing silver market price. This inherent value serves as a baseline, upon which numismatic value is added based on condition, rarity, and demand.
Question 3: What factors determine the grade of a 1928 Peace Silver Dollar?
Grading is determined by factors such as surface preservation, strike quality, luster, and the presence of any post-minting damage. Certified grading services assess these attributes to assign a standardized grade, influencing the coin’s market value.
Question 4: Where were 1928 Peace Silver Dollars minted, and how is this identified?
The 1928 Peace Silver Dollar was exclusively minted at the Philadelphia Mint. This is identified by the absence of a mint mark on the coin’s reverse, below the word “ONE.” Coins from branch mints feature a “D” (Denver) or “S” (San Francisco) mint mark in this location.
Question 5: What is the significance of the Peace Dollar’s design?
The design symbolizes peace following World War I, featuring Lady Liberty on the obverse and an eagle perched on a broken sword on the reverse. These elements represent the nation’s aspiration for lasting peace and a return to normalcy.
Question 6: Is the 1928 Peace Silver Dollar a good investment?
The investment potential of the 1928 Peace Silver Dollar depends on market conditions, collector demand, and the coin’s condition. While it possesses intrinsic silver value, its numismatic worth is subject to fluctuations. Consultation with a numismatic expert is advised before making investment decisions.
Understanding these key factors provides a solid foundation for assessing the value and significance of the 1928 Peace Silver Dollar.
Further exploration of the Peace Dollar series and market trends will offer additional insights into the dynamics affecting its long-term collectibility and investment potential.
Tips for Evaluating a 1928 Peace Silver Dollar
The following guidance facilitates a more informed assessment of the 1928 Peace Silver Dollar, aiding collectors and investors in making prudent decisions. The tips provided below are aimed at evaluating genuineness and condition.
Tip 1: Verify Authenticity. Prior to any transaction, confirm the coin’s authenticity. Counterfeit coins exist and can be deceptively convincing. Compare the coin’s weight and diameter to official specifications. Discrepancies may indicate a forgery. Consult with a reputable numismatist to authenticate suspicious specimens.
Tip 2: Assess Surface Condition. Carefully examine the coin’s surface for signs of cleaning or alteration. Artificial cleaning can damage the coin’s original luster and diminish its value. Look for unnatural brightness or evidence of abrasive cleaning agents. Original, uncleaned coins are often preferred by collectors.
Tip 3: Evaluate Strike Quality. The sharpness of the coin’s strike is a critical factor in determining its grade and value. Examine the details of Lady Liberty’s hair and the eagle’s feathers. Weak or poorly defined details suggest a weak strike, which can lower the coin’s desirability.
Tip 4: Scrutinize for Damage. Thoroughly inspect the coin for any post-minting damage, such as scratches, dents, or corrosion. Damage detracts from the coin’s aesthetic appeal and significantly reduces its value. Handle the coin carefully to avoid causing further harm.
Tip 5: Research Grading Standards. Familiarize oneself with established grading standards, such as those used by PCGS or NGC. Understanding these standards enables a more accurate assessment of the coin’s condition and its corresponding market value. Consult grading guides and online resources.
Tip 6: Examine Toning. While subjective, toning can influence a coin’s aesthetic appeal and value. Even, naturally occurring toning can be attractive to collectors. However, uneven or artificially induced toning may be undesirable. Consider the overall appearance and consistency of the toning.
Tip 7: Check for Variety and Errors. Research known varieties and errors associated with the 1928 Peace Silver Dollar. Subtle differences in the design or minting process can create rare and valuable variations. Consult reputable numismatic sources to identify potential varieties.
Proper application of these tips enables a more thorough and informed evaluation. These tips are useful to determine the coin’s market value.
This guidance assists prospective buyers and sellers in navigating the complexities of the numismatic market and maximizing their appreciation for this historical coin.
Conclusion
The preceding exploration of the 1928 Peace Silver Dollar has encompassed its historical context, design elements, minting details, and numismatic value. The analysis has demonstrated how various factorssilver composition, production volume, condition, and collector demandconverge to determine the coin’s significance and market price. The examination has emphasized its role as a tangible representation of post-World War I aspirations and its enduring appeal to numismatists and investors alike.
The 1928 Peace Silver Dollar remains a sought-after piece, its value inextricably linked to its history and condition. Careful consideration of the information presented will facilitate a more informed appreciation of this iconic coin and responsible engagement with the numismatic marketplace. Further research and diligent evaluation are encouraged for anyone considering acquiring or selling this historical artifact.
