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Assessing the Value of the 1938-1964 Jefferson Nickel

The-Jefferson-Nickel-coin-was-produced-in-1938

The Jefferson Nickel, minted between 1938 and 1964, is a common coin found in many people’s change. However, what makes this coin particularly exciting is the rare serial codes it bears. To learn more about this coin, please read the article below.

1. Jefferson Nickel History and Design

In 1938, the Jefferson Nickel was issued to supplant the Buffalo Nickel, also known as the Indian Head Nickel, which had been minted since 1913.

Felix Schlag’s design for the Jefferson Nickel was the winning entry in a coin design competition, beating out more than 390 other artists. Despite this, the United States Mint still had to approve the design before it could be used.

The managers expressed dissatisfaction with the font and corner-view design of the Jefferson coin, advocating instead for a more panoramic view of the iconic Monticello house.

The-Jefferson-Nickel-coin-was-produced-in-1938

Regulators have made three changes to the symbol image on the Jefferson coin. The American Indian goddess of liberty was initially replaced with an image of a former US president. Subsequent redesigns include the 1909 coin featuring Abraham Lincoln and the 1932 coin featuring George Washington.

Weighing 5g and measuring 21.2mm in diameter, the Jefferson Nickel coin has smooth edges and is composed of 75% copper and 25% nickel. However, due to the US government’s need for raw materials for war in mid-1842, the ratio of ingredients used to produce coins was altered. This Jefferson coin is composed of 56% copper, 35% silver, and 9% manganese. This 35% silver composition was exclusive to this coin until 1945, when the mints discontinued its use.

2. Market For Jefferson Nickels

The Jefferson Nickel, still produced by the United States Mint, remains a popular coin today. While its value is generally greater than its collectible worth, certain issues of the coin, produced from 1942 to 1945, are more valuable and have earned nicknames.

Jefferson-Nickel-produced-from-1942-to-1945-was-more-valuable-than-others

The composition of the Jefferson nickel consists of 35% silver, resulting in a value higher than its face value. Consequently, these coins are not circulated and are removed from the market.

Experienced numismatists can easily identify 1942 Jefferson Nickel coins. To do so, they should look for a letter near the dome of the Monticello symbol; if present, it will indicate a silver Jefferson coin. These letters can be P, D, or S, which represent the three major mints in the US at that time.

3. Key Dates, Rarities, and Varieties

Regardless of condition, Jefferson Nickels are always valuable. Notable examples include the 1938-D, 1939-D, 1950-D, and 1955/55 Doubled Die Obverse.

Some-of-valuable-Jefferson-Nickels

  • 1939 – D 1942 – 1945 – The ingredient contains 35% silver alloys.
  • 1943 P 3/2 – Double Die Obverse
  • 1949 DD/s – Repunched Mint Mark (or RPM)
  • 1950 DD
  • 1954 SS/D – RPM
  • 1955 DD/S – RPM

4. Condition or Grade

If a Jefferson Nickel displays signs of wear, it is indicative of a coin that has been circulated and is not of high value. Conversely, if the surface of the coin is free from any signs of wear and tear, it is likely to be of considerable value.

You-can-determine-the-value-of-a-coin-by-examining-the-details-on-the-surface

In order to accurately assess the value of a coin, it is essential to examine the details on its surface, rather than its luster. Cleaning the coin will not increase its value, but rather decrease it, as collectors prefer coins that have been circulated in their original, unclean state.

5. Mint Marks

Distinguishing between Jefferson Nickels is a straightforward process. The mint mark, located on the reverse side of the coin adjacent to the Monticello symbol, indicates the period of production. Coins minted between 1938 and 1942 feature a D for Denver, an S for San Francisco, or no mint mark for Philadelphia. Coins produced from 1942 to 1964 have the same mint marks.

Jefferson-Nickel-of-the-Denver-mint-mark

In 1942, the Jefferson Nickel coins were minted with alloys containing up to 35% silver. The mint mark was enlarged and moved above the Monticello symbol, while the Philadelphia foundry used the mint mark P. The Denver and San Francisco mints retained their symbols D and U, respectively.

6. Average Prices and Values

Distinguishing between the price and value of Jefferson coins is essential prior to learning about their average prices and value. Price is the amount one must pay to acquire a coin from a dealer, while value is the amount a dealer will pay to purchase the coin from an individual.

The value of Jefferson Nickels is determined by a variety of factors, including mining output, survival rate, demand, and melting value. Over time, the value of these coins may fluctuate. The following table provides a reference for their worth.

Date & Mint Circ. Buy Circ. Sell Unc. Buy Unc. 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
Date & Mint Circ. Buy Circ. Sell Unc. Buy Unc. Sell
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

$32.00 $13.50 $275.00 $200.00
Complete

Date Set

Total Coins: 27

$10.00 $3.00 $55.00 $40.00

Note:
F.V: Face Value

The Jefferson Nickel coin has been summarized in the article above, though data regarding its collection is limited in comparison to other coins. Nevertheless, it is hoped that the information provided has been of use.

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