History of the 1928 Peace Dollar
The 1928 Philadelphia is the key date of the Peace dollar series, with the lowest mintage of any issue at 360,649 — struck merely to round out legal requirements as silver dollar demand evaporated in the late 1920s.
Because collectors knew it was scarce from the start, a healthy share of the mintage was saved, so the 1928 is obtainable in most grades — just never cheap. Its status as "the" Peace dollar key keeps demand permanent.
The 1928 Peace dollar was struck in 1928 in 90% silver. Each coin weighs 26.73 grams. Production took place at Philadelphia, with 360,649 struck.
How much is a 1928 Peace dollar worth?
Like every collectible coin, the value of a 1928 Peace dollar comes down to grade, rarity and demand. The ranges below are approximate retail prices collectors pay for problem-free examples — coins that have been cleaned, scratched or holed usually trade well below these figures.
Printed price guides age quickly. The most honest benchmark is what comparable coins actually sold for, which is why CoinVault Pro shows live values built on Numista catalog data and real eBay sold results whenever it identifies a coin.
- Very Fine: $220–$280
- Extremely Fine: $280–$350
- MS-63: $600–$850
- MS-65: $3,000–$4,500
How to identify a genuine 1928 Peace Dollar
Before you get excited about a potential find, confirm that the coin in your hand matches the genuine article. Work through this checklist:
When a coin fails any of these checks, treat it with suspicion. Modern counterfeits can be convincing at arm's length, but weight, dimensions and die details rarely lie.
- No mint mark: a genuine 1928 key has nothing at the wing tip — a 1928-S (common) with a removed S is the classic fake.
- Look for smoothing or scratches in the mint mark area under magnification.
- The GOD in the motto shows characteristic die polish on many genuine examples.
Check your 1928 Peace dollar with CoinVault Pro
The fastest way to find out what you have is to photograph the coin with CoinVault Pro. The app identifies it using Gemini AI combined with Coin-CLIP image matching, estimates a grade on the full Sheldon 1–70 scale, and shows live market values built on Numista catalog data and real eBay sold prices.
From there you can add the coin to your collection, track its value over time, put upgrades on your wishlist, or list it on the in-app marketplace with escrow protection. The app is free to download on iOS and Android.