Jefferson Nickel Values

San Francisco struck the fewest Jefferson nickels of the three mints throughout the early years; 1938 to 1964. A total just over 230 million nickel-copper alloy coins. Low mintages signal to collectors a less available coin and in general values follow with slightly higher premiums.

Mintmarks were placed on coins to identify branch mint production. San Francisco used an "S" mintmark on nickel-copper Jefferson nickels 1938 through 1964. Find the small "S" mintmark on the reverse, to the right of Monticello, and next to the rim.

Lowest mintage year is 1938, some 4 million struck in San Francisco. A sought-after coin, worth is above face value in circulated condition.

The first few years of production of the Denver mint 1938 to 1942 started slow. Just under 120 million struck. 1938 and 1939 are notable for low mintages and above average values. Numbers of coins struck in the 1960's increased and Denver through 1964 struck the largest total of nickels, more than Philadelphia and San Francisco combined.

Denver uses a "D" mintmark to indicate its production. The "D" is placed to the right of Monticello next to the rim.

Despite Denver's total mintages compared to the other mints, many individual years are modest in numbers. 1950 stands out as the lowest of the entire series, just over 2.5 million struck and a premium find in any condition.

Philadelphia mint placed into circulation over 2.7 billion nickels of the nickel-copper variety spanning the years 1938 to 1964. Quantities are available today and collecting of the variety is focused on high condition examples.

Philadelphia did not place any mintmarks on these nickel-copper alloy pieces. Those dated 1938 through 1968 without any mintmark are Philadelphia nickels.

Lowest production year from the Philadelphia mint of the nickel-copper variety is 1955 with 7.8 million struck for circulation.

San Francisco Mint Silver Alloy Jefferson Nickel

Large "S" mintmark above Monticello confirms the silver alloy nickel. San Francisco produced over 217 million pieces and all are premium value coins because of silver content.

Denver Mint Silver Alloy Jefferson Nickel

Large "D" mintmark above Monticello confirms the silver alloy nickel. No production of 1942 silver alloys nickels from Denver. Total production of Denver silver nickels over 84 million.

Philadelphia Mint Silver Alloy Jefferson Nickel

1942 silver Jefferson nickel is the first time Philadelphia used a mintmark on coinage. A large "P" over Monticello confirms the silver alloy nickel. Over 567 million struck during the four years of the variety, the majority stayed in circulation until the mid-1960's becoming well worn.

Obverse: Features Identifying Mint State Grade: No wear to the surface defines a coin in Mint State grade. A few minutes viewing the highest points of the design determines the grade.

Jefferson's cheek and eye brow are high areas wear occurs first. Minting imparts a delicate grain to the metal producing the luster, the shimmer of a freshly mint state coin. When worn luster is removed and the metal takes on a different, smooth texture and a different color.

Compare Jefferson's cheek area with surrounding metal for a consistent appearance.

Also, waves of hair are high and low in relief, all contours must have a similar luster and texture.

Reverse: Features Identifying Mint State Grade: The reverse features Monticello with the central area highest in relief.

Columns are slightly rounded with an exposed surface. Looking closely, original luster is present and a bright surface remains. Dulling of the metal indicates slight wear.

Leading edges of the triangular roof lines are also inspected; absence of wear leaves these areas without any flattening from wear.

Vertical lines of the building next to the windows remain crisp and of a similar look as nearby metal.

Obverse: Features Identifying Extremely Fine Grade: Light wear is beginning to smooth small portions of waves of hair.

Small spots of flat areas a confined to just the tops of hair waves. This evidence of wear is seen concentrated just above Jefferson's ear. Smoothness must remain disconnected and minor.

Wear is light to the high area of cheek near Jefferson's eye. A flattening is seen limited to an area smaller than his eye. His eye brow is also just beginning to show smoothness and slight flattening.

Lower line of collar is strong and separated from coat along the majority of its length.

Reverse: Features Identifying Extremely Fine Grade: Monticello, because of its high relief position, begins to lose minor detail quickly.

A triangular arch, above the pillars, must show upper defining lines. These upper lines are faint but remain.

Pillars themselves are faint, however, each side of the pillars is clear. Fading of the defining lines is beginning, but definition places the coin solid in the Extremely Fine grade.

Notice a base line to the triangle is just visible. Wear is extensive and a close look is needed. Tilt the coin under a light helping bring out these subtle details and correctly identifying a grade.

Obverse: Features Identifying the Fine Grade: Wear is heavy in the central areas creating large flat zones.

Above Jefferson's ear is a smooth plane extending to the top of his head. This flatness has removed the part in his hair through the center. Just traces of hair waves along the back and above collar remain.

Jefferson's cheek and eye brow is worn flat and connecting this flat area is also connecting with his hair. A small separation is noted between his cheek and the jaw area below.

Shoulder along the rim is flattened and without contour. No longer is a full connected line separating the collar from the coat.

Reverse: Features Identifying the Fine Grade: Heavy wear has removed all traces of fine detail of Monticello.

Traces of pillars remain, very weak. The central area of Monticello is just slightly raised with partial indications of pillars.

Peak area of the triangular arch is visible with only minor connecting with the dome above.

Windows show on either side of the central pillar area. Four windows, two on each side of pillars helps place a worn Jefferson nickel in the Fine grade.

Obverse: Features Identifying the Good Grade: Wear now covers the entire design smoothing details to outlines.

Jefferson remains outlined. Hair is now fully connected with his forehead at temple.

Eye brow plus cheek is connected with hair forming flat areas covering Jefferson's face.

Rim is beginning to merge with tops of lettering.

Reverse: Features Identifying the Good Grade: Heavy wear leaves Monticello as a featureless flat surface.

Dome is now a flat area and fully connected and forming an outlined Monticello.

Letters along the rim are readable, faint along tops and often merging with the rim.

"Five Cents" in a protected area, is now becoming faint in comparison with letters of upper and lower legend.

Surface Quality

One of the first steps in evaluating a coin is quality of its surface. Circulated coins pick up marks and abrasions. Circulation wear plus noticeable marks are considered by all collectors as lowering desirability. Overly abraded coins fall out of collectible range.

Preservation Quality

How a coin is stored over the decades has a visual result to the surface. A slightly worn example properly kept is a collectible quality Jefferson nickel. Humidity and elements are beginning to show discoloration and deterioration to the surface of the nickel; result, no longer any collector value.

Strike Quality

A subtle difference is detected when comparing the two reverses. Jefferson nickels occasionally suffer from a weak strike when minted. A small change in strike quality is picked up by advanced collectors and their preference is a strong strike.

All three nickels represent eye appealing mint state coins. Bright as minted, slight toning enhancing devices, and surfaces toned colors are all appealing to the different preferences of collectors. Missing from the examples are eye distractions such as spots, uneven or mottled toning, any of these lowers quality.

Today's Modern Jefferson Nickel Values

New era nickels are collected in top condition. It is in Mint State preservation added premium value and higher prices are found. Important to compare you coins to the condition images to separate the worn from those with no wear.

More Old Nickel Values

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