1928 Peace Dollar
The 1928 Peace Dollar features two of the most difficult coins of the series. This was also the year when the United States Mint finished striking all of the silver dollar coins required by the Pittman Act. A production gap of five years followed, with the next Peace Dollars in the series not produced until 1934.
With a low mintage of 360,649, the 1928 Peace Dollar produced at the Philadelphia Mint is considered the key date of the series. The coin carries a premium across all grade levels, with even well circulated examples priced at several hundred dollars. Overall, the issue is perhaps more available than the mintage would indicate, but its status as a popular key date provides a higher than typical level of demand. More than 300 pieces have been graded MS65 by PCGS and NGC, with only thirteen pieces grading higher at MS66. One of these finest known specimens sold for $48,875 at an auction held in April 2011.
The 1928-S Peace Dollar is noted as one of the most conditionally challenging issues of the series. Although the mintage was much higher than the Philadelphia minted coin at 1,632,000, examples graded MS65 and higher are rarities. The coins were poorly produced and almost always found with weak strikes, dull luster, and many bag marks. On a combined basis, PCGS and NGC have graded fewer than 100 coins as MS65, with only a single example graded MS66 by each service. Considering the populations across both grading services, this is the rarest issue in grades MS65 and MS66.
A superlative example of the 1928-S graded PCGS MS65 with a CAC sticker of approval sold for $32,200 in April 2011.
1928 Peace Dollar Mintage and Specifications
Mintages: 360,649 (Philadelphia), 1,632,000 (San Francisco)
Designer: Anthony de Francisci
Composition: 90% silver, 10% copper
Weight: 26.73 grams
Diameter: 38.1 mm
Edge: reeded
