People in the United States have been using the Jefferson Nickel for decades, passing it from hand to hand. It is often forgotten as a mere 5-cent coin. But some Jefferson nickels are worth a lot more than their face value. This is especially true for ones that have very few mint marks or mistakes or are from years when very few were made.
In fact, some very rare types of these nickels can fetch thousands of dollars at sale, giving the happy person who finds them a big surprise windfall.
This article talks about the past of the Jefferson Nickel. It also lists the years and mintmarks that you should look out for, as well as giving you advice on how to tell if an old nickel in your collection is a secret gem.
A Brief History of the Jefferson Nickel
The Jefferson Nickel took the place of the Buffalo Nickel and was first made in 1938. The design, which was made by artist Felix Schlag, showed Thomas Jefferson’s home, Monticello, on the back and a picture of him on the front.
The coin’s shape has changed a few times over the years. Notably, the Westward Journey Series had a new backward design from 2004 to 2005. In 2006, a new version came out with Jefferson looking forward. Even with these changes, older Jefferson Nickels are still used, and collectors are now very interested in some very rare examples from earlier years.
Key Dates and Features to Watch For
Most Jefferson Nickels are worth nothing more than what they are worth, but some years and mintmarks are very expensive. These are some of the most sought-after examples:
1939-D Jefferson Nickel
The 1939-D is one of the semi-key numbers in the Jefferson Nickel line. It is very rare, with only a little more than 3.5 million coins made. This nickel can be worth up to $1,000 if it is still in mint condition.
1950-D Jefferson Nickel
Many people think of the 1950-D as the “Holy Grail” of wartime Jefferson Nickels. It has the lowest mintage of any regular-issue nickel in the 20th century, with only 2.6 million coins made. Depending on their grade, uncirculated copies can easily fetch $500 to $2,000 or even more.
War Nickels (1942-1945)
During WWII, the U.S. government changed the makeup of nickels by adding 35% silver to the metal to save nickel for use in wartime production. These “War Nickels” have a big mintmark (P, D, or S) on the back of them above Monticello. Depending on their state, these coins are worth anywhere from $1.50 to $50. They are important to history because they are made of silver.
Full Steps Nickels (FS Designation)
Some Jefferson Nickels, especially those that are in very good shape, have the steps to Monticello that can be seen clearly. Depending on the year and mintmark, these “Full Steps” coins are very expensive. They can fetch anywhere from $200 to over $3,000.
Mint Error Nickels
Nickels that have minting flaws like double dies, off-center strikes, or repunched mintmarks can be worth a lot of money. Even small mistakes can make the coin more valuable; based on how rare it is and how much people want it, it can sell for hundreds or even thousands of dollars.
How to Identify a Valuable Jefferson Nickel
Follow these steps to find out if your Jefferson Nickel is a rare find:
Step 1: Check the Date and Mintmark
Look for the year and mintmark on the obverse (front) of the coin. Mintmarks include:
No mintmark = Philadelphia
D = Denver
S = San Francisco
P = For War Nickels only
Focus on key dates like 1939-D, 1950-D, and War Nickels.
Step 2: Inspect the Reverse Side
Look closely at Monticello on the back. Is the road clear and free of anything in the way? It might be a Full Steps coin, which is worth more if you can see all of Monticello’s steps.
Step 3: Look for Errors
Check the coin with a coin loupe or a magnifying glass for mistakes made during the minting process, such as doubling, misalignment, or mintmarks that were punched out again. The worth of a nickel can go up by a lot because of these mistakes.
The Importance of Grading: Condition Matters
A coin’s value can change a lot based on how good or bad it is. A common 1950-D Jefferson Nickel in used condition might only be worth $5 to $10, but one in MS-65 Full Steps condition could be worth over $1,500.
Some reliable grading companies that you might want to send your rare coins to for certification are
PCGS stands for “Professional Coin Grading Service.”
NGC stands for Numismatic Guaranty Corporation.
Certified coins are more likely to sell for more money because their state and authenticity have been checked.
Where to Offer Your Unique Jefferson Nickel
If you think your Jefferson Nickel is worth something, here are some ways you could sell it:
- Traders in Coins: Depending on how rare and good the coin is, local or national coin traders may be able to offer a fair price.
- Coin Shows: Coin experts and fans often go to coin shows, where you can sell your nickel.
- Online auctions: You can sell rare coins on sites like eBay and Heritage Auctions.
- Facebook Groups for Coin Collectors: There are a lot of specialized Facebook groups where people are looking to buy coins.
- Certified auction houses are the best places to sell rare or valuable coins for the most money.
If your coin has been certified, make sure you have a proof of authenticity or a grading slip. This will add to its value and trustworthiness.
Why You Should Check Your Change
It’s still possible to find an expensive Jefferson Nickel in your pocket change, an old coin jar, or a collection you acquired. You should always look through your coins because you might find a prize.
Last Thoughts
Even though the Jefferson Nickel looks like a simple 5-cent coin, some very rare types, especially those made between 1938 and 1964, can be worth a lot more than their market value. If you know what you’re doing, you can turn a simple nickel into something important.
Take a moment to carefully check your nickel the next time you get it. You might find a small coin with a big reward inside.
FAQs
Why are Jefferson Nickels Considered Valuable?
Jefferson Nickels can be valuable due to low mintage years, minting errors, silver content (in War Nickels), or high-grade conditions with Full Steps on Monticello.
Which Jefferson Nickel is the Rarest?
The 1950-D Jefferson Nickel is among the rarest, with only 2.6 million minted. Those in high-grade condition with Full Steps are particularly valuable.
How Can I Tell if My Nickel Has Full Steps?
Look at the steps on Monticello on the reverse side. If all five or six steps are clearly visible and unbroken, the coin is considered a Full Steps variety, which can significantly increase its value.