Valuation of Early Jefferson Nickels: The Jefferson nickel circulated between 1938 and 1964 is not considered valuable by coin collectors—you can pull most of these coins right out of your pocket. As a result, this series is not nearly as appreciated as it should be by intermediate and above-level collectors. But I can assure you that collecting pre-1964 Jefferson nickels can be fun and, at the same time, not that hard.
In the following article, you will find a short description of Jefferson nickels minted after 1938 until 1964 and a simple guide to explain which of such coins may be valuable for their real coin value.
Contents
Jefferson Nickel History and Design
The Jefferson nickel was designed by Felix Schlag and first struck at the mint in 1938. He got $1000 because he was the winner of a design competition involving 390 designers. Nonetheless, the United States Mint officials did not appreciate the form of the lettering he selected for the coin or depicting Monticello, the home of Jefferson, which the winning design featured in a corner view while the Mint desired a head-on view of the well-known structure.
Also Read: 10 Valuable Kennedy Half Dollar Coins
This was the third circulating coin that had the US mint do away with a symbol on the obverse, such as Lady Liberty or an American Indian and put the face of a former president of the USA on it. Other redesigned coins were the penny, which for the year 1909 adopted the face of Abraham Lincoln and the quarter, which adopted the face of George Washington in 1932.
It is composed of 75% copper and 25% nickel and has a mass of five grams. Further, to preserve the copper, which was scarce due to the war, in mid-1942 the composition was altered to 56% Cu, 35% Ag and 9% Mn (consisting of . 05626 t oz ASW). This silver composition remained in operation until the end of the year 1945. The size of the Jefferson nickel is 21 millimeters in diameter. Is 2 mm wide and has no teeth on the cutting edge.
Market For Jefferson Nickels
Jefferson nickels are still being produced by the U. S. Mint and are popularly used as legal tender today. Hence, the vast majority of the specimens in circulation are valued at face value only. There are a few specimens, however, that are worth a little bit more. War Nickels existed from 1942 through 1945; these coins were made of 35% silver and are also known as Jefferson Nickels. This means they should be valued greater than their face value and the majority of such notes have been withdrawn from the market. One of the best ways to determine which of the two is more valuable is to look at the reverse side of the latter. Since we are given for every occurrence of a letter P,D or S over the dome of Monticello it is a silver coin.
Key Dates, Rarities, and Varieties
All the following Jefferson nickels, including those in terrible condition, are more valuable as compared to pocket change coins. Thus, examine the coin, send it for an appraisal to a professional or hail the services of a genuine certification company.
- 1939-D
- 1942–1945 wartime silver alloy
- Note: If the mint mark on the reverse is above the building, the coin has 35% silver or about 0. 550 grams of pure silver or 0563 troy ounces of pure silver.
- 1943 P 3/2 Doubled Die Obverse This is a stimulating issue since two different images of the same coin produced in the same year by the same mint with the same mint mark are placed on the opposite sides of the coin.
- 1949 D/S: Re-punched Mint Mark (or RPM).
- 1950 D
- 1954 S/D = RPM
- 1955 D/S-RPM
Condition or Grade Of Jefferson Nickel
If your coin looks like that in the picture below and you can’t find any signs that it has ever been used and, as a result, shows some signs of wear, then your coin is an uncirculated one. Always remember that circulated coins should not be mistaken for shiny coins and vice versa, because they are all in a different class. One may be tempted to clean a coin in order to polish its surface so as to make it shiny but this will not in any way change its worth. It will decrease its value because a clean coin is much less valuable to a coin collector than an uncleanly circulated coin.
Mint Marks On Jefferson Nickel
Which is depicted in the following photograph: At bottom, under NEBRASKA and the state shield, for coins dated 1938 to 1942 and 1946 to 1964: , Philadelphia (no mint mark), Denver (D), and San Francisco (S). The use of 35% silver began in 1942 up to 1945, with mintmark enlargement and position above Monticello. For a short while during the mint mark change, coins coined in Philadelphia had a “P” mint mark, while those produced in Denver and San Francisco retained their “D” and “S” marks, respectively.
Valuation of Early Jefferson Nickels
The buy price is the amount that one is likely to spend on a dealer in the purchase of a Jefferson Nickel. The sell value is how much a coin dealer will purchase from you if you decide to sell the coin to them. These are the rough retail costs and whole-sale prices. More often than not, the offer the individual coin dealer gives you will not be purely based on the face value of the coin, hence the agreed-upon grade of the coin and other aspects of its value.
| Date & Mint | Circulated Buy | Circulated Sell | Uncirculated Buy | Uncirculated Sell |
|---|---|---|---|---|
| 1938 | $0.30 | $0.15 | $4.50 | $3.50 |
| 1938-D | $0.90 | $0.50 | $5.50 | $4.50 |
| 1938-S | $1.20 | $0.70 | $5.50 | $4.00 |
| 1939 | $0.13 | F.V. | $3.00 | $2.00 |
| 1939-D | $3.00 | $1.50 | $55.00 | $47.00 |
| 1939-S | $0.60 | $0.35 | $18.00 | $14.00 |
| 1940 | $0.06 | F.V. | $2.50 | $1.70 |
| 1940-D | $0.10 | F.V. | $3.50 | $2.50 |
| 1940-S | $0.10 | F.V. | $4.50 | $3.50 |
| 1941 | $0.07 | F.V. | $2.50 | $1.50 |
| 1941-D | $0.10 | F.V. | $4.50 | $3.50 |
| 1941-S | $0.10 | F.V. | $5.00 | $3.50 |
| 1942 | $0.08 | F.V. | $5.00 | $3.70 |
| War Time Silver Alloy | ||||
| 1942-P TII | $1.50 | $1.00 | $7.00 | $5.00 |
| 1942-D | $1.50 | $1.00 | $19.00 | $13.00 |
| 1942-S | $1.50 | $1.00 | $6.00 | $4.50 |
| 1943-P | $1.50 | $1.00 | $5.00 | $3.50 |
| 1943-P 3 over 2 | $35.00 | $25.00 | $300.00 | $250.00 |
| 1943-D | $1.50 | $1.00 | $4.00 | $3.00 |
| 1943-S | $1.50 | $1.00 | $4.50 | $3.50 |
| 1944-P | $1.50 | $1.00 | $5.50 | $4.00 |
| 1944-D | $1.50 | $1.00 | $7.00 | $5.00 |
| 1944-S | $1.50 | $1.00 | $6.00 | $4.00 |
| 1945-P | $1.50 | $1.00 | $5.00 | $3.50 |
| 1945-D | $1.50 | $1.00 | $5.00 | $3.50 |
| 1945-S | $1.50 | $1.00 | $4.50 | $3.00 |
| Resume Copper Nickel Alloy | ||||
| 1946 | $0.06 | F.V. | $1.70 | $1.00 |
| 1946-D | $0.06 | F.V. | $1.70 | $1.00 |
| 1946-S | $0.06 | F.V. | $1.70 | $1.00 |
| 1947 | $0.06 | F.V. | $1.30 | $1.00 |
| 1947-D | $0.06 | F.V. | $2.90 | $1.90 |
| 1947-S | $0.06 | F.V. | $3.00 | $2.20 |
| 1948 | $0.06 | F.V. | $1.30 | $1.00 |
| 1948-D | $0.06 | F.V. | $2.30 | $1.60 |
| 1948-S | $0.09 | F.V. | $2.70 | $1.80 |
| 1949 | $0.09 | F.V. | $1.90 | $1.00 |
| 1949-D | $0.09 | F.V. | $1.90 | $1.00 |
| 1949-D D over S | $28.00 | $13.00 | $190.00 | $120.00 |
| 1949-S | $0.30 | $0.15 | $2.20 | $1.50 |
| 1950 | $0.10 | F.V. | $1.70 | $1.00 |
| 1950-D | $6.00 | $3.00 | $12.30 | $8.30 |
| 1951 | $0.10 | F.V. | $2.80 | $1.90 |
| 1951-D | $0.10 | F.V. | $3.30 | $2.30 |
| 1951-S | $0.17 | F.V. | $3.70 | $2.50 |
| 1952 | $0.07 | F.V. | $2.80 | $1.90 |
| 1952-D | $0.10 | F.V. | $4.00 | $2.70 |
| 1952-S | $0.10 | F.V. | $2.00 | $1.00 |
| 1953 | $0.10 | F.V. | $1.30 | $1.00 |
| 1953-D | $0.10 | F.V. | $1.30 | $1.00 |
| 1953-S | $0.10 | F.V. | $1.50 | $1.00 |
| 1954 | $0.10 | F.V. | $1.20 | $1.00 |
| 1954-D | $0.06 | F.V. | $1.00 | $0.64 |
| 1954-S | $0.06 | F.V. | $2.20 | $1.60 |
| 1954-S S over D | $4.90 | $2.50 | $41.00 | $28.00 |
| 1955 | $0.18 | F.V. | $1.00 | $0.70 |
| 1955-D | F.V. | F.V. | $1.00 | $0.59 |
| 1955-D D over S | $5.50 | $2.90 | $48.00 | $33.00 |
| 1956 | F.V. | F.V. | $1.00 | F.V. |
| 1956-D | F.V. | F.V. | $1.00 | F.V. |
| 1957 | F.V. | F.V. | $0.75 | F.V. |
| 1957-D | F.V. | F.V. | $0.75 | F.V. |
| 1958 | F.V. | F.V. | $1.00 | F.V. |
| 1958-D | F.V. | F.V. | $0.75 | F.V. |
| 1959 | F.V. | F.V. | $0.50 | F.V. |
| 1959-D | F.V. | F.V. | $0.50 | F.V. |
| 1960 | F.V. | F.V. | $0.50 | F.V. |
| 1960-D | F.V. | F.V. | $0.50 | F.V. |
| 1961 | F.V. | F.V. | $0.50 | F.V. |
| 1961-D | F.V. | F.V. | $0.50 | F.V. |
| 1962 | F.V. | F.V. | $0.50 | F.V. |
| 1962-D | F.V. | F.V. | $0.50 | F.V. |
| 1963 | F.V. | F.V. | $0.50 | F.V. |
| 1963-D | F.V. | F.V. | $0.50 | F.V. |
| 1964 | F.V. | F.V. | $0.50 | F.V. |
| 1964-D | F.V. | F.V. | $0.50 | F.V. |
Complete Date-Mint Set
Total Coins: 71
| Value | Circ. Buy | Circ. Sell | Unc. Buy | Unc. Sell |
|---|---|---|---|---|
| Total Coins: 71 | $32.00 | $13.50 | $275.00 | $200.00 |
Complete Date Set
Total Coins: 27
| Value | Circ. Buy | Circ. Sell | Unc. Buy | Unc. Sell |
|---|---|---|---|---|
| Total Coins: 27 | $10 | $3.00 | $55.00 | $40.00 |
FAQs
Q. What is a 1964 Jefferson Nickel worth?
A. As stated by the NGC Price Guide, which is free for access on the NGC website, the raw MS 1964 Jefferson Nickels cost from 15 cents to 500 USD, so the coins in Proof are usually more expensive. Other nickels that carry the 5FS or 6FS mark are sold at prices ranging between $20 and $15,000.
Q. How Much Is a 1938 Jefferson Nickel Worth?
A. This is always a tough question to answer because it would depend on the condition of the 1938 Jefferson nickel. Compared to circulated grades, 1938 has a value of about a quarter. Thus, a collector should be willing to pay $3 for this coin in uncirculated condition. A 2×2 flip for an uncirculated example costs from $0.00 USD to $300.00 to $400.00 for a Superb Gem with Full Steps.
Q. Are Jefferson nickels valuable?
A. Though people would not consider that a five-cent piece can have any numismatic value to speak of, some issues of the Jefferson Nickel are worth a lot more than the face value that they depict. Collectors find the early mintage of this coin, like the 1938 version, real treasures.
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