1928 Peace dollars are decidedly scarce, with the 1928 Philadelphia silver dollar taking the cake on rare Peace dollar classifications. In fact, the 1928 Peace dollar is considered the key date for the Peace dollar series. Only 360,649 Peace dollars were made at the Philadelphia mint in 1928, which makes it even scarcer in terms of original mintage than even the famed 1909-S V.D.B. Lincoln cent. In fact, in a grace of VF-20, the 1928 Peace dollar has an approximate value of $500.
What does all this mean for the coin collector? Be careful when you’re buying a 1928 Peace dollar, as there are plenty of forgeries on the market, many of which are well disguised. Always buy any 1928 Peace dollar in a slab from a well-regarded third-party coin grading company. Remember, this is a $500 coin in the lower-circulated grades and $1,000 and up in the mid-range uncirculated grades, so be sure to spend your money wisely!
As for the 1928-S Peace dollar, many more of those were struck than their Philadelphia counterparts. 1,632,000 Peace dollars were made at the San Francisco mint, and these are worth about $35 each in Very Fine and around $250 in Mint State 60.
No Peace dollars would be struck until 1934.