Coin Specifications

Category: Standing Liberty Quarters (1916-1930)
Mint: San Francisco
Mintage: 2,644,000
Obverse Designer: Hermon A. MacNeil
Reverse Designer: Hermon A. MacNeil
Composition: Silver
Fineness: 0.9000
Weight: 6.2500g
ASW: 0.1808oz
Melt Value: $3.15 (5/28/2017)
Diameter: 24.3mm
Edge: Reeded
Link to this coin

1928 S 25C MS obverse 1928 S 25C MS reverse

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Description & Analysis

Production of quarter dollars at the San Francisco Mint returned to a normal level in 1928, after the drastic dip of the previous year. It's evident that several rolls of 1928-S must have survived as late as the 1960s or '70s, as this issue is rather plentiful in Mint State. Gems are quite common, though nearly all of these have mediocre strikes. An overall weakness at the centers is typical, and Full Head specimens are scarce, though not truly rare. As with 1928-D, the scarcity of XF and AU examples has not resulted in high prices for the simple reason that MS coins are so available.

The Small S mintmark typical of San Francisco coins made from 1917 through 1941 is slightly more scarce than the Large S also used in 1928 alone for several denominations. Jay Cline seems to have overstated the rarity of the Small S, and neither variety carries a premium. The Large S is of a style used 30-40 years earlier, and why it was applied to several dies in 1928 is unknown. The Large S dies were used in the second half of the year, and the greater availability of this variety suggests that most 1928-S quarters were likewise coined late in the year. For all other denominations the Small S is more common, and no nickels are known with the Large S.

NGC will attribute these mintmark varieties under its VarietyPlus Service, and one of the Large S dies features a repunched mintmark.


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Price Guide

Last Updated: 5/5/2017

Click on a price to see historical prices, comparison charts and trends.

1928 S 25C MS
Base $ 7.50 8.50 9.50 17.00 37.00 75.00 80.00 90.00 125 135 150 175 245 340 480 675 2300 - - -
$ - - - - 130 - - - - 350 500 850 3500 -
1928 S 25C MS Full Head
Base $ - - - - - 90.00 100.00 115 155 205 245 310 400 675 1150 1950 8450 37500 - -
$ - - - - - - - - - 700 1250 2250 22500 -

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Total Graded: 1448
Low Grade: PrAg
Average Grade: 63
High Grade: 68

Upcoming Auctions

Auction Prices Realized

A random selection of coins is shown below.

Auction House
Sale / Lot
6/4/1997 NGC MS 64   Teletrade Auction 0951, 951/Lot# 1366 $141.70
9/10/2006 PCGS MS 64   Goldberg September 10-13, 2006 Pre-Long Beach Coin and Currency Auction, 37/Lot# 130 $356.50
7/18/2011 NGC MS 67   David Lawrence Rare Coins Monday - Internet Auction # 602, 609/Lot# 1680 $954.50
11/20/2011 NGC MS 64   GreatCollections GreatCollections Coin Auctions 11/20/2011, 145/Lot# 25488 $243.43
6/10/2012 NGC MS 65   Heritage Auctions Internet Coin Auction Session(1), 131225/Lot# 26130 $373.75
7/14/2013 NGC Details UNC Details  Heritage Auctions Internet Coin Auction Session(2), 131330/Lot# 23006 $96.35
3/31/2015 PCGS MS 63   Stack's Bowers March 2015 Baltimore, 6065/Lot# 32909 $199.75
  NGC MS 65   Full Head Bonhams $643.00
11/9/2015 PCGS MS 62   Stack's Bowers November 2015 Baltimore, 6110/Lot# 25054 $152.75

NGC Registry

NGC Registry Score 1928 S 25C MS
1928 S 25C MS Full Head
Registry Image Gallery
Grade: MS 67 FH
Points: 5044
Owner: PetroKaz
Grade: MS 67 FH
Points: 3991
Owner: JMWorlock
View the Registry Image Gallery

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The 1928-S "Large S" Coins

9/1/2003 — "Cherrypicking" is the term applied by collectors to the hunt for scarce and rare coins that can be purchased at the price of common items. My favorite cherrypick has long been the Large S mintmark varieties unique to 1928.
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