The 1928-S Walking Liberty Half Dollar is worth anywhere from $20 in heavily worn condition to well over $5,000 in top mint state grades. If you’ve stumbled across one of these beautiful old coins, you’re in luck — this is one of the more desirable issues in the Walking Liberty series, and collectors are willing to pay a premium for it.
Whether you found it in a drawer, inherited it, or picked it up at a garage sale, this guide will walk you through exactly what affects the value and what you might expect to get for yours.
What Makes the 1928-S Half Dollar Special
The 1928-S Walking Liberty Half Dollar was struck at the San Francisco Mint, indicated by the small “S” mintmark on the obverse (front) of the coin, just below “IN GOD WE TRUST.” The Walking Liberty design, created by Adolph Weinman, is widely considered one of the most beautiful coin designs in American history. Lady Liberty strides confidently toward the rising sun, draped in an American flag — it’s truly iconic.
What makes the 1928-S stand out is its relatively low mintage. Only 1,940,000 examples were produced that year, which is modest for a half dollar issue. Lower mintage often means fewer surviving examples, especially in higher grades.
If you’re not sure whether your coin has an “S” mintmark or want to identify it quickly, a free coin identifier app can help you confirm the details right from your phone. Apps like CoinKnow let you scan your coin and instantly get information about what you have.
1928-S Walking Liberty Half Dollar Value by Grade
The condition of your coin — known as its “grade” — is the single most important factor in determining value. A coin that looks shiny and detailed is worth far more than one that’s scratched, dark, or heavily worn. Here’s a general breakdown of what the 1928-S Walking Liberty Half Dollar is worth across different grades:
| Grade | Description | Estimated Value |
|---|---|---|
| Good (G-4) | Heavy wear, major details visible | $20 – $30 |
| Fine (F-12) | Moderate wear, all features clear | $35 – $55 |
| Extremely Fine (EF-40) | Light wear on high points | $90 – $150 |
| About Uncirculated (AU-55) | Slight wear, most luster intact | $200 – $400 |
| Mint State (MS-63) | Uncirculated, minor blemishes | $900 – $1,800 |
| Mint State (MS-65+) | Gem quality, full luster | $3,500 – $6,000+ |
For the most current auction results and market trends, you can check out live 1928-S Walking Liberty Half Dollar price data across mint state grades to see what these coins are actually selling for right now.
How to Tell What Grade Your Coin Is
Grading coins takes practice, but you can get a rough idea at home. Start by examining the coin under good lighting — natural sunlight works well.
Look at the high points of the design: Lady Liberty’s hand, her head, and the eagle’s breast feathers on the reverse. These areas wear down first. If the details are sharp and you can see fine lines in Liberty’s gown and the eagle’s feathers, your coin is likely in Fine or better condition.
If the coin looks almost brand new with a natural shine (called “luster”), you might have an uncirculated example — and that’s where serious money comes in. For professional grading, services like PCGS or NGC will certify your coin and dramatically increase its marketability and value.
You can also use CoinKnow to get a preliminary grade estimate before spending money on professional services — it’s a smart first step.
Silver Content and Its Role in Value
Even in the worst condition, your 1928-S Walking Liberty Half Dollar is worth money because of its silver content. These coins are made of 90% silver and 10% copper. Each coin contains 0.3617 troy ounces of pure silver.
With silver prices hovering around $28–$32 per troy ounce (depending on the market at the time you’re reading this), the melt value alone is roughly $10–$12. But the numismatic (collector) value almost always exceeds the silver value for this date, so don’t melt it down!
If you want a full breakdown of what your 1928 half dollar is worth including silver value and collector premiums, that resource gives a helpful overview for different conditions and mintmarks.
Tips for Selling Your 1928-S Walking Liberty Half Dollar
If you’ve decided it’s time to sell, you have several options. Online marketplaces like eBay let you reach a wide audience, but you’ll need good photos and an accurate description. Local coin dealers are convenient but may offer less than market value since they need to make a profit on resale.
Coin shows are a great middle ground — you can get multiple offers in one afternoon and compare them on the spot.
Before you sell, do your homework. CoinKnow can help you understand what your coin is worth so you walk into any negotiation informed. Dealers respect sellers who know their coins, and you’re far less likely to leave money on the table.
FAQ
Q: How do I know if my coin is a 1928-S and not a different mint?
A: Look for a small “S” mintmark on the obverse (front) of the coin, located on the left side just below the motto “IN GOD WE TRUST.” If there’s no mintmark, it was struck at the Philadelphia Mint. A “D” means Denver.
Q: Is the 1928-S Walking Liberty Half Dollar rare?
A: It’s considered a semi-key date in the series. With fewer than two million minted, it’s not the rarest Walking Liberty half dollar, but surviving examples in high grades are genuinely scarce and command strong collector premiums.
Q: Should I clean my coin before selling it?
A: Absolutely not. Cleaning a coin — even gently — destroys its natural surface and dramatically reduces its value. Collectors and dealers strongly prefer original, uncleaned coins. Leave it exactly as you found it.
