1928-S 25C G4 Certification #12070242, PCGS #5770

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Expert Comments

Charles Morgan

The 1928-S Standing Liberty Quarter

Despite its undeniable beauty, Hermon Atkins MacNeil’s Standing Liberty Quarter posed significant challenges for the United States Mint, leading to two major design overhauls. The first occurred in 1917, precipitated by "unauthorized" alterations to MacNeil’s original work. After MacNeil successfully lobbied Treasury Secretary William G. McAdoo, he was permitted to make extensive revisions that went well beyond his initial complaints. Gone was the partially disrobed figure of Liberty; in its place stood a completely redesigned figure protected by a coat of chain mail. The second major change followed in 1925, when the Mint recessed the date pedestal to ensure the date remained legible even after years of heavy circulation.

Production throughout the series’ three distinct periods was generally robust, excluding the rare 1916 issue (base #5704), with the notable exceptions of the 1927 branch mint releases. The 1927-D (base #5762), with a mintage of 976,000, is marginally lower than other years but not scarce enough to command a massive premium. The 1927-S (#5764), however, saw a production of only 396,000 pieces. It remains scarce-to-rare in Mint State, overshadowed only by the 1916 and the 1918/7-S overdate (base #5726).

Branch mint production recovered in 1928, even as the Philadelphia Mint saw a decline of nearly 47%. While some specialists suggest that only 5% of 1928-S Standing Liberty Quarters would qualify for Full Head (FH) status, PCGS population data indicates the survival rate is closer to 20%. Regardless of the head detail, the rivets on the shield and the feathers on the eagle are typically weak for this date.

1928-S Standling Liberty Quarter Cherrypickers' Guide Varieties

The Cherrypickers' Guide enumerates two collectible varieties for the 1928-S: the FS-501 Inverted Mintmark (base #395951) and the FS-502 Repunched Mintmark (base #395955). PCGS no longer recognizes the FS-501 due to a change in consensus regarding the status of the the "inverted S"; however, we continue to verify the FS-502 both through our Variety Attribution Program.

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PCGS #

5770

Designer

Hermon A. Mac Neil

Edge

Reeded

Diameter

24.30 millimeters

Weight

6.30 grams

Mintage

2644000

Metal

90% Silver, 10% Copper

Pop Higher

2215

Pop Lower

Region

The United States of America

Price Guide

PCGS Population

Auctions - PCGS Graded

Auctions - NGC Graded

Rarity and Survival Estimates Learn More

Grades	Survival Estimate The Survival Estimate represents an average of one or more experts opinions as to how many examples survive of a particular coin in three categories: 1) all grades, 2) 60 or better, and 3) 65 or better. These estimates are based on a variety of sources, including population reports, auction appearances, and personal knowledge. Survival estimates include coins that are raw, certified by PCGS, and certified by other grading services.	Numismatic Rarity Numismatic Rarity converts the Survival Estimate for a particular coin into a number from 1 to 10 (with decimal increments) based on the PCGS Rarity Scale. The higher the number, the more rare the coin.	Relative Rarity by Type Relative Rarity By Type ranks the rarity of this coin with all other coins of this Type. Lower numbers indicate rarer coins.	Relative Rarity by Series Relative Rarity By Series ranks the rarity of this coin with all other coins of this Series. Lower numbers indicate rarer coins.
65 or Better	13000	R-2.9	10 / 15 TIE	N/A
All Grades	2500	R-4.5	13 / 15	N/A
60 or Better	1100	R-4.9	15 / 15	N/A

Survival Estimate The Survival Estimate represents an average of one or more experts opinions as to how many examples survive of a particular coin in three categories: 1) all grades, 2) 60 or better, and 3) 65 or better. These estimates are based on a variety of sources, including population reports, auction appearances, and personal knowledge. Survival estimates include coins that are raw, certified by PCGS, and certified by other grading services.
65 or Better	13000
All Grades	2500
60 or Better	1100

Numismatic Rarity Numismatic Rarity converts the Survival Estimate for a particular coin into a number from 1 to 10 (with decimal increments) based on the PCGS Rarity Scale. The higher the number, the more rare the coin.
65 or Better	R-2.9
All Grades	R-4.5
60 or Better	R-4.9

Relative Rarity by Type Relative Rarity By Type ranks the rarity of this coin with all other coins of this Type. Lower numbers indicate rarer coins.
65 or Better	10 / 15 TIE
All Grades	13 / 15
60 or Better	15 / 15

Relative Rarity by Series Relative Rarity By Series ranks the rarity of this coin with all other coins of this Series. Lower numbers indicate rarer coins.
65 or Better	N/A
All Grades	N/A
60 or Better	N/A

Condition Census Learn More

Pos	Grade	Pedigree and History
1	PCGS MS67	Stack's Bowers, June 27, 2025, Lot 2119 - $2,040. Faint toning streaks across an otherwise brilliant example. Two parallel diagonal ticks across Liberty's garment near the obverse center.
1	PCGS MS67	Legend Rare Coin Auctions, September 26, 2019, Lot 243 - $2,056.25; David Lawrence Rare Coins, April 2, 2023, Lot 4270 - $2,559; "The Screaming Eagle Collection" (PCGS Set Registry). Predominantly brilliant. Wispy rose toning at Liberty's knee. Small toning spot above Liberty's right arm. Contact mark on the eagle's left wing.
1	PCGS MS67	David Lawrence Rare Coins, February 20, 2017, Lot 2115 - $1,650; Heritage Auctions, June 8, 2017, Lot 3477 - $1,292.50; Heritage Auctions, May 25, 2022, Lot 27153 - $1,020; "The Usedcatman Collection" (PCGS Set Registry). Champagne toning with flecks of russet on the reverse.
1	PCGS MS67	Heritage Auctions, October, 3, 2016, Lot 3717 - $1,880; "The Five Generations of Eby Collection," Heritage Auctions, January 14, 2019, Lot 3290 - $2,280. Predominantly brilliant. Faint bronze toning. Rivets more defined than typically found, but still incomplete.
1	PCGS MS67	GreatCollections, June 26, 2016, Lot 370265 - $1,800. Dappled toning in pea-green and goldenrod. Bronze and aubergine coloration in the upper-right obverse field.

#1 PCGS MS67

Stack's Bowers, June 27, 2025, Lot 2119 - $2,040. Faint toning streaks across an otherwise brilliant example. Two parallel diagonal ticks across Liberty's garment near the obverse center.

#1 PCGS MS67

Legend Rare Coin Auctions, September 26, 2019, Lot 243 - $2,056.25; David Lawrence Rare Coins, April 2, 2023, Lot 4270 - $2,559; "The Screaming Eagle Collection" (PCGS Set Registry). Predominantly brilliant. Wispy rose toning at Liberty's knee. Small toning spot above Liberty's right arm. Contact mark on the eagle's left wing.

#1 PCGS MS67

David Lawrence Rare Coins, February 20, 2017, Lot 2115 - $1,650; Heritage Auctions, June 8, 2017, Lot 3477 - $1,292.50; Heritage Auctions, May 25, 2022, Lot 27153 - $1,020; "The Usedcatman Collection" (PCGS Set Registry). Champagne toning with flecks of russet on the reverse.

#1 PCGS MS67

Heritage Auctions, October, 3, 2016, Lot 3717 - $1,880; "The Five Generations of Eby Collection," Heritage Auctions, January 14, 2019, Lot 3290 - $2,280. Predominantly brilliant. Faint bronze toning. Rivets more defined than typically found, but still incomplete.

#1 PCGS MS67

GreatCollections, June 26, 2016, Lot 370265 - $1,800. Dappled toning in pea-green and goldenrod. Bronze and aubergine coloration in the upper-right obverse field.