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The Certified Peace Silver Dollar 1928 MS62 ANACS stands as one of the most coveted issues in the entire Peace Dollar series, not only for its low mintage but also for its historical placement as the key date in a collection spanning from 1921 to 1935. Struck at the Philadelphia Mint during a time of economic uncertainty and reduced silver dollar demand, the 1928 Peace Dollar remains an iconic rarity among 20th-century American coinage. With a Mint State 62 grade assigned by ANACS, this example offers collectors a desirable combination of uncirculated preservation, sharp detail, and the inherent value of the series’ rarest regular issue. Its significance in the Peace Dollar series cannot be overstated, and its presence in a collection adds both depth and prestige.
The Peace Dollar was introduced in 1921 as a symbol of the nation’s desire for peace following the devastation of World War I. Designed by Anthony de Francisci, it replaced the Morgan Dollar and introduced a more modern, idealized interpretation of Liberty along with powerful symbolism on the reverse. The series was struck intermittently from 1921 through 1935, with the 1928 issue being the lowest-mintage business strike of them all. Only 360,649 pieces were struck at the Philadelphia Mint that year, a figure far below any other non-proof Peace Dollar. As such, the 1928 issue became instantly recognized as a key date, with strong demand from both collectors and investors, particularly in Mint State condition where surviving examples are considerably scarcer.
The obverse of the 1928 Peace Dollar features a radiant profile of Lady Liberty wearing a spiked crown reminiscent of the Statue of Liberty. Designed with youthful, neoclassical elegance, Liberty faces left, with her hair flowing in stylized strands. The inscriptions “LIBERTY,” “IN GOD WE TRVST” (using the classical Latin “V” for “U”), and the date “1928” complete the composition. On a Mint State 62 example, the obverse retains original mint luster across most of the fields and devices, though light contact marks or minor abrasions may be visible upon close inspection. Despite these imperfections, the overall strike quality and visual appeal of the design remain compelling, offering a bright and sharply defined portrait that reflects the ideals of the postwar generation.
The reverse features a powerful image of a bald eagle perched on a rock, clutching an olive branch while gazing toward the rising sun. Rays emanate behind the eagle, representing peace and a new beginning for the nation. The words “UNITED STATES OF AMERICA,” “E PLURIBUS UNUM,” and “ONE DOLLAR” encircle the image, while the word “PEACE” is inscribed prominently at the base. This reverse was a departure from the heraldic eagles of earlier U.S. coinage, choosing instead a more naturalistic and serene image to align with the coin’s commemorative intent. On a certified MS62 example, the reverse maintains considerable detail in the eagle’s feathers, the rays of light, and the rock’s texture, though slight chatter or softness may occur in the fields or eagle’s leg due to the limitations of the striking process.
Unlike the 1921 high-relief Peace Dollars or later San Francisco and Denver issues, the 1928 Philadelphia strike typically shows good central detail but can occasionally exhibit weakness on Liberty’s hair or the eagle’s breast. Even so, Mint State specimens are prized for their originality and relative scarcity. The ANACS MS62 certification ensures the coin has no signs of circulation and displays all the hallmarks of uncirculated condition—such as intact luster and full design elements—with only moderate contact marks or minor abrasions limiting its grade. Collectors value this grade level as it offers a more affordable entry point into uncirculated territory compared to higher Mint State grades, which escalate dramatically in price due to the coin’s rarity.
As a Philadelphia Mint issue, the 1928 Peace Dollar does not carry a mintmark. Unlike branch mint issues from Denver (“D”) or San Francisco (“S”), Philadelphia coins can be identified solely by their absence of a mark beneath the word “ONE” on the reverse. The lack of mintmark, combined with the low mintage, makes this coin particularly unique among Philadelphia-struck dollars. The production was likely limited due to declining demand for silver dollars during the late 1920s, as the Treasury and banks already held ample supplies. The modest output that year ensured that relatively few examples survived, especially in Mint State, where the coin’s age and usage further diminished the surviving population.
The ANACS certification brings added confidence to the collector, verifying the coin’s authenticity and assigning a standardized grade based on industry-accepted criteria. ANACS, established in 1972, was the first third-party grading service in the United States and remains a respected name in numismatics. Coins encapsulated by ANACS are protected in a secure plastic holder and accompanied by a label displaying the date, mint, denomination, grade, and certification number. For this 1928 Peace Dollar, the MS62 grade indicates a coin with original surfaces and no evidence of wear, but with minor detracting marks or subdued luster that preclude a higher grade. Still, the coin is considered uncirculated and a fundamentally sound investment for those pursuing the complete Peace Dollar series.
In the marketplace, the 1928 Peace Dollar consistently ranks among the most desirable dates in the series, with even heavily circulated examples commanding attention. As the lowest-mintage business strike of the series, it occupies a position akin to the 1909-S VDB in Lincoln Cents or the 1916-D in Mercury Dimes—a true cornerstone for series collectors. The appeal of a certified Mint State example lies in the combination of numismatic rarity, historical significance, and preserved aesthetic quality. Even at MS62, the coin exhibits the original artistry of Anthony de Francisci’s design and offers collectors an accessible yet valuable addition to a Peace Dollar collection.
The 1928 Peace Dollar has continued to appreciate in value and recognition, particularly among those assembling complete date-and-mintmark sets. Collectors often seek certified examples to ensure authenticity and condition consistency, especially given the coin’s high value and history of counterfeiting or alterations. The MS62 grade remains a strategic acquisition for budget-conscious collectors who want an uncirculated key date without paying the steep premiums associated with MS64 or higher specimens. As demand for vintage silver dollars remains strong and collector interest in the Peace Dollar series continues to grow, the 1928 issue in certified MS62 condition offers enduring potential for both appreciation and enjoyment.
The Certified Peace Silver Dollar 1928 MS62 ANACS embodies the rare intersection of low mintage, artistic merit, historical relevance, and numismatic prestige. With its unmistakable status as the series’ key date, it commands respect from collectors at every level. The MS62 grade offers a pleasing balance of quality and affordability, allowing collectors to obtain an uncirculated example of one of America’s most iconic silver dollars. Whether pursued as a cornerstone investment, a milestone in a complete set, or a beautiful example of 20th-century coinage, the 1928 Peace Dollar in ANACS MS62 represents a timeless and essential piece of U.S. numismatic history.