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I think it's weird that the 1934-S is really cheap in low grade, while the 1928 is expensive in ANY grade. Yet once you hit higher grades, the 1934-S is much more expensive. Strange market forces, there.
Not really. The 28 is low mintage but didn't really circulate. The 34 S has a higher mintage but they were mostly released into circulation. So today the low mintage 28 is common in the higher grades and less so in the lower grades. So there isn't much price difference between grades. But the 34 S is very scarce in high grade and very common in lower grades so low grades are cheap and high grades very expensive.