Typically, a nickel, or five cents, is a common coin misplaced in a store receipt or on the edge of a pocket. But were you aware that one unique coin of America — the Jefferson Nickel — has been valued at thousands, if not millions, of dollars because of certain traits? If spotted at the correct time, with the correct eye, this common coin can alter your luck.
History of the Jefferson Nickel
The Jefferson Nickel was initially introduced in 1938, when it took over from the Buffalo Nickel. The coin was created by artist Felix Schlag. The obverse of the coin features a portrait of the third President of the United States Thomas Jefferson, and the reverse features an image of his iconic home Monticello.
Changes in mintage through the years, technical errors, and limited minted editions have rendered some Jefferson nickels to be rare and highly valuable.
What Makes Jefferson Nickels Special?
There are some key reasons why the price of these coins shoots through the roof:
- Minting error: Like double dies, twice-printed mint marks, or overdates — collectors love these coins.
- Low mintage: Those years in which few coins were minted are particularly rare.
- Full Steps designation: When the steps of Monticello are unobstructed and clearly visible, the coin falls into the “Full Steps” category, and its worth rises.
- High Grade Condition: Since the coin is not damaged and possesses a luster, particularly if graded MS65 or higher, it will command a good price in the market.
Which Jefferson Nickels Have Been the Most Expensive?
Although no Jefferson Nickel has ever reached the million dollar threshold, some have been sold for thousands of dollars at auctions:
| Year | Mint Mark | Features | Grade | Auction Price |
|---|---|---|---|---|
| 1964 | SMS (Special Mint Set) | Distinctive finish; fewer than 40 known | MS65 | $15,000+ |
| 1939 | D | Limited mintage; “Full Steps” | MS68+ FS | $33,600 |
| 1942 | D/D (Horizontal) | Reprinted Mint Mark | MS64 FS | $32,200 |
- Assess the condition: If the coin is shiny and unworn, it will be more valuable.
What to do if you discover a rare Jefferson nickel?
- Do not clean the coin: Polishing coins is a common thing that people attempt, but this lowers their worth.
- Have professional grading done: Professional institutions like PCGS or NGC can analyze your coin and grade it professionally.
- Reach out to authentic dealers: Professional coin dealers can provide you with right guidance regarding its worth and selling opportunities.
Summary
Though normally only worth five cents, some Jefferson Nickels are quite valuable based on minting errors, low-mintage dates, high-grade condition, and the scarce “Full Steps” feature on Monticello. Released in 1938 and designed by Felix Schlage, these nickels have been known to fetch thousands — even more than $30,000 — at auction. Chief among them are the 1939-D, 1942-D/D, and 1964 SMS nickels. If you think you’ve discovered a scarce coin, don’t clean it, have it professionally graded, and speak to a reputable dealer. A small coin may be worth a big financial find.
Conclusion
The Jefferson nickel can be a plain coin in your pocket, but it could be a treasure concealed within it with a couple of glances. If you have ever begun collecting vintage coins or are planning to do so in the future, don’t miss out on the Jefferson Nickel. Your next coin could transform your life!
FAQs
Q1. What makes a Jefferson Nickel valuable?
Errors, low mintage, “Full Steps” detail, and high-grade condition can significantly increase value.
Q2. What is the “Full Steps” designation?
It refers to fully visible, uninterrupted steps on Monticello’s image on the reverse side of the coin.
Q3. Which Jefferson Nickel is the most valuable?
The 1939-D and 1964 SMS nickels are among the most valuable, selling for over $15,000 to $30,000 at auctions.
Q4. Should I clean a rare nickel before selling?
No. Cleaning can damage the coin and significantly reduce its value.
Q5. How can I get a Jefferson Nickel appraised?
Submit it to professional grading services like PCGS or NGC, or consult a reputable coin dealer.
