1928 Half Dollar Coin Value (Errors List, “S” Worth)

The 1928 Walking Liberty Half Dollar represents a unique chapter in American coinage, as all 1928 Half Dollars were struck only in San Francisco with no Philadelphia or Denver production that year. This exclusive San Francisco mintage makes the 1928-S particularly significant among collectors of the Walking Liberty series.

Current market values reflect this distinction, with examples averaging $275 in Fine condition, $1,591 in AU condition, and reaching $9,150 in mint state grades.

 

1928 Half Dollar Value By Variety

The following chart provides current market values for the 1928-S Half Dollar across different condition grades, helping collectors quickly assess their coin’s worth.

If you know the grade of your coin, you can find the exact price below in the Value Guides section.

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Top 10 Most Valuable 1928 Half Dollar Worth Money

The Top 10 Most Valuable 1928 Half Dollar auction records showcase why this San Francisco issue commands respect among serious Walking Liberty collectors.

The chart spanning over a decade of auction data reveals the steep premium structure that defines this key date, with the record-setting MS66 at $28,800 demonstrating the extraordinary rarity found in superior grades.

The substantial value gap between MS64 and MS65—jumping from $6,463 to $20,400—reflects the genuine scarcity that emerges when both condition and strike quality align.

Even circulated examples maintain strong collector interest, with AU grades consistently exceeding $1,000 and reflecting the coin’s established market position. The data confirms that condition assessment becomes critical with the 1928-S, as each grade level represents significant financial impact.

These auction results validate the coin’s reputation as a conditionally challenging issue where striking problems limit the population of premium examples.

This remarkable value structure places the 1928-S among the Walking Liberty series’ most coveted issues, earning its prominent ranking in our detailed Top 100 Most Valuable Walking Liberty Half Dollar Worth Money (Value Chart by Year).

 

History of the 1928 Half Dollar

The 1928 Half Dollar emerged during one of the most optimistic periods in American history, capturing the exuberant spirit of the Roaring Twenties at its absolute peak.

This coin represents more than just currency—it embodies the confidence and prosperity that defined the era before the economic upheaval that would soon reshape the nation.

The year 1928 found America riding an unprecedented wave of economic expansion. Stock prices soared to record heights, consumer confidence reached new peaks, and the nation basked in what seemed like limitless prosperity. Jazz music filled the airwaves, automobiles transformed daily life, and technological innovations promised an ever-brighter future.

Against this backdrop of national optimism, the U.S. Mint continued producing Adolph Weinman’s magnificent Walking Liberty design, first introduced in 1916.

The Walking Liberty Half Dollar had already established itself as one of America’s most beloved coin designs by 1928. Weinman’s artistic vision—featuring Liberty striding confidently toward the dawn while draped in the American flag—perfectly captured the nation’s forward-looking spirit. The reverse, with its majestic eagle perched on a mountain crag, symbolized America’s strength and natural grandeur.

However, 1928 would prove to be the calm before the storm. Within months of these coins entering circulation, the stock market crash of October 1929 would shatter the nation’s economic dreams and usher in the Great Depression.

This historical context transforms the 1928 Half Dollar into a poignant reminder of America’s last moments of unbridled optimism before confronting its greatest economic challenge.

The coin’s production occurred exclusively at the San Francisco Mint, reflecting the regional minting practices of the era. These half dollars circulated widely throughout the country, changing hands in a bustling economy where silver coins held significant purchasing power and represented real value in everyday transactions.

Also Read:Top 35 Most Valuable Franklin Half Dollar Worth Money (1948 – 1963)

 

Is your 1928 Half Dollar rare?

Collectors can access detailed survival statistics and comparative analysis through the CoinValueChecker App to understand these rarity dynamics across the complete series.

 

Key Features of the 1928 Half Dollar

The 1928-S Half Dollar represents the final year of 1920s prosperity production, featuring design elements that showcase the mature development of Adolph Weinman’s Walking Liberty motif.

These coins display characteristics that reflect both the artistic excellence of the series and the production challenges unique to San Francisco minting during this pivotal historical period.

The Obverse of the 1928 Half Dollar

The obverse presents Liberty in full stride, moving confidently toward the rising sun with her right arm extended in a gesture of welcome and invitation.

Her flowing gown and the American flag draped around her create dramatic movement that captures the optimistic spirit of the era. The intricate folds and details in the fabric demonstrate Weinman’s sculptural mastery, though San Francisco’s striking quality during this period sometimes resulted in softness in the finest details.

“LIBERTY” curves along the left border, with Liberty’s figure actually obscuring portions of the lettering—a deliberate design choice that emphasizes the prominence of the allegorical figure.

“IN GOD WE TRUST” appears above Liberty’s trailing foot, while the date “1928” is positioned below her striding form.

The relief shows excellent depth and proportion when well-struck, creating visual appeal that has made this design enduringly popular among collectors. However, the complex design proved challenging for consistent reproduction, particularly affecting detail retention in Liberty’s outstretched hand and the flag’s intricate folds.

The Reverse of the 1928 Half Dollar

The reverse features a majestic bald eagle perched on a rocky mountain crag, wings partially spread as if preparing for flight.

A small mountain pine sapling grows from the rocky outcropping beside the eagle, symbolizing America’s natural resilience and growth. The composition creates a sense of strength and permanence that complements the forward movement of the obverse design.

“UNITED STATES OF AMERICA” arcs along the upper rim, while “E PLURIBUS UNUM” appears to the left of the eagle. The denomination “HALF DOLLAR” spans the bottom of the coin. Weinman’s initials “AW” can be found beneath the eagle’s right wing, though they often appear faint on circulated examples.

The “S” mintmark is located at the lower left of the reverse, positioned at approximately 7:30 on the clock face. San Francisco used two different mintmark punches during 1928 production, creating small and large “S” varieties, though neither commands significant premium over the other.

Other Features of the 1928 Half Dollar

The 1928-S maintains the standard Walking Liberty specifications: 90% silver composition with 10% copper, weighing 12.5 grams with a diameter of 30.6 millimeters. The edge features reeding, consisting of vertical lines around the coin’s circumference that both prevented clipping and provided tactile identification.

Also Read:Top 60+ Most Valuable Walking Liberty Half Dollar (1916 -1947)

 

1928 Half Dollar Mintage & Survival Data

The 1928 Half Dollar production reflects the unique circumstances of its single-mint issuance, with San Francisco serving as the sole production facility. The mintage of 1,940,000 pieces represents a moderate production run that would prove insufficient to meet long-term collector demand.

Current survival statistics reveal approximately 95,000 specimens remaining in collectible condition, yielding a 4.8969% survival rate.

This relatively high survival percentage compared to other Walking Liberty issues reflects several factors: the coin’s production during peacetime conditions, its timing before the most intensive wartime metal drives, and the beginning awareness among some collectors of the series’ numismatic potential.

However, survival rates tell only part of the story. The distribution heavily favors lower grades, with high-quality specimens representing a small fraction of surviving coins. The economic turmoil following 1929 led to extensive circulation and limited preservation efforts during the Depression years.

The survival data positions the 1928-S within specific collecting parameters, where availability in circulated grades contrasts sharply with scarcity in premium condition. Understanding these survival patterns across all dates helps collectors identify the most challenging issues to acquire.

Also Read:What Half Dollars Are Worth Money?

 

The Easy Way to Know Your 1928 Half Dollar Value

Determining your 1928-S Half Dollar’s value requires assessing two critical factors: grade and strike quality. First, verify the “S” mintmark on the reverse at 7:30 position—all 1928 half dollars were struck exclusively in San Francisco. Next, examine Liberty’s extended hand and the eagle’s breast feathers for detail sharpness, as weak strikes significantly reduce value.

Values range dramatically by condition: Fine grade examples average $275, AU specimens reach $1,591, while mint state coins command $9,150 or more. Well-struck MS65+ examples are exceptionally rare, with recent sales exceeding $20,000.

For accurate preliminary grading and instant value assessment, use the CoinValueChecker App, which provides professional-grade evaluation tools and current market pricing based on your coin’s specific condition and strike characteristics.

 

1928 Half Dollar Value Guides

The 1928-S is a key date in the Walking Liberty series due to low mintage and striking issues. This San Francisco mint coin carries premiums in all grades, with even worn examples trading above silver value. Well-struck specimens are particularly scarce and valuable, making this date highly sought after by collectors.

 

1928-S Half Dollar Value

The 1928-S Half Dollar was struck at the San Francisco Mint with a mintage of 1,940,000 pieces.

The 1928-S Half Dollar is exceptionally special within the Walking Liberty series due to its extreme scarcity in high grades, with only one example of the highest recorded grade, MS66+. This rarity stems from two critical factors: timing and production issues.

Very few 1928 half dollars were collected when new as a result of the Great Depression, meaning most were spent and circulated heavily. Additionally, all 1928 Walking Liberty half dollars were struck exclusively at San Francisco, making it a single-mint issue.

The technical challenges of Adolph Weinman’s design created persistent striking problems, with the vast majority of San Francisco’s production being poorly struck, displaying flattening of details in Lady Liberty’s hand as well as the reverse eagle’s breast feathers and legs. Therefore, it is more difficult to find a coin in excellent condition today.

These factors combine to create extraordinary values. The coin remains available through AU grades but becomes genuinely scarce from MS60-MS65, with MS66 representing exceptional rarity.

Only 15 examples have achieved MS66 certification, with a recent MS66 bringing $31,200 in May 2025, while MS65s sold for between $4,500 to $6,500 in 2020. Even circulated examples command premiums, with values ranging from $13 in lower grades to over $1,000 in uncirculated condition.

The auction record chart below tracks the substantial premiums associated with higher grade examples of this date.

Current market activity indicates continued collector interest in this San Francisco half dollar.

Also Read:Rare Half Dollar Coins to Look For

 

Rare 1928 Half Dollar Error List

Error coins and varieties from the 1928-S Walking Liberty Half Dollar are scarce due to the limited mintage and challenging production conditions of that era.

1. 1928-S Large and Small Mintmark Varieties

The 1928-S Walking Liberty Half Dollar presents collectors with two distinct mintmark varieties, though both are commonly available and neither commands a significant premium.

San Francisco used two different mintmark punches in 1928, with the first type called MMS-002 “Small” used from 1917 until 1942. When dies became worn, mint workers re-punched the mintmark using what appears to be an older style punch similar to those used on 19th century Barber quarters, creating the larger mintmark variety.

While both varieties exist, the difference is primarily of academic interest to specialists, as condition and strike quality remain the primary value determinants for this key date.

2. Standard Mint Errors

Like other Walking Liberty half dollars, 1928-S examples can potentially exhibit standard mint errors including off-center strikes, double strikes, clipped planchets, and die cracks, though documented examples are extremely rare due to the coin’s limited population and the fact that most error coins from this era were likely spent or lost to time.

 

Where to Sell Your 1928 Half Dollar ?

Now that you understand the compelling value dynamics of your 1928 Half Dollar, selecting the appropriate selling venue will help you capture premium prices and connect with collectors who recognize the scarcity potential in these pre-Depression era Walking Liberty specimens before the market fully reflects their true rarity.

Check out now: Best Places To Sell Coins Online (Pros & Cons)

 

1928 Half Dollar Market Trend

*Market Trend Chart showing the number of people paying attention to this coin.

 

FAQ about the 1928 Half Dollar

1. Are there 1928 half dollars from Philadelphia or Denver?

No, all 1928 Walking Liberty half dollars were struck exclusively at San Francisco, so any coin without an “S” mintmark is either heavily worn or altered. Any piece claiming to be a 1928-D is automatically altered or counterfeit.

2. Why do most 1928-S half dollars have weak strikes?

The technical difficulty of replicating Weinman’s design, with high points on both sides in the same areas, caused serious striking issues throughout San Francisco production.

3. What should I look for when buying a 1928-S half dollar?

Focus on strike quality, particularly in Liberty’s hand and the eagle’s breast feathers. Toned mint state coins seem to be in the majority, with luster that can be white and somewhat frosty. Well-struck examples command significant premiums.Strike can be a real problem with this issue, and even a decent strike is very rare.