First minted in 1938, the Jefferson nickel is one of the most popular 20th century U.S. coin series. Named for America‘s 3rd president Thomas Jefferson, whose profile graces the obverse, the series offers a fascinating variety of rare dates, low mintages, interesting errors, and conditional rarities. In this comprehensive guide, we‘ll dive deep into the most valuable Jefferson nickels and share expert tips for assembling a top-notch collection.
A Brief History of the Jefferson Nickel
The Jefferson nickel was introduced in 1938, replacing the Buffalo nickel. Its obverse features a left-facing portrait of Thomas Jefferson by artist Felix Schlag, while the reverse depicts Jefferson‘s home, Monticello. Schlag‘s initials FS appear below the portrait.
The composition of the Jefferson nickel changed several times throughout the series:
- 1938-1942; 1946-2014: 75% copper, 25% nickel
- 1942-1945: 56% copper, 35% silver, 9% manganese
- 2014-present: 75% copper, 25% nickel with trace amounts of manganese
The so-called "Wartime Nickels" struck from 1942-1945 have a large mintmark above Monticello to denote their silver content, including a "P" for the Philadelphia mint which did not normally use a mintmark.
Starting in 2004, the reverse of the nickel featured scenes commemorating the bicentennial of the Lewis and Clark Expedition and Louisiana Purchase. 2005 saw the introduction of a new obverse portrait of Jefferson facing forward and the return of Monticello to the reverse, a design which continues today.
Rare & Key Date Jefferson Nickels by Year
The rarest and most valuable Jefferson nickels by date and mintmark include:
| Date/MM | Mintage | Notes |
|---|---|---|
| 1939-D | 3,514,000 | Lowest mintage of series |
| 1939-S | 6,630,000 | 2nd lowest mintage |
| 1950-D | 2,630,030 | Low mintage |
| 1955 | 7,888,000 (P) | Low mintages at all mints |
| 1955-D | 3,182,600 | Low mintage |
| 1955-S | 6,408,000 | Low mintage |
Other better dates include the 1938-D, 1938-S, 1939-P, 1941-D, 1942-D, 1951-S and 1957-D. High grade examples of these issues are extremely valuable. For example, the finest known 1939-D graded MS68 Full Steps by PCGS sold for $160,625 in 2022.
Jefferson Nickel Population Report – Top Rarities
Using population data from PCGS and NGC, here are the Jefferson nickels with the lowest populations in grades MS67+ and MS68:
| Date/MM | MS67+FT | Price | MS68FT | Price |
|---|---|---|---|---|
| 1939-D | 0 | N/A | 1 | $160,625 |
| 1939-S | 0 | N/A | 2 | $38,000 |
| 1940 | 2 | $38,400 | 0 | N/A |
| 1940-D | 3 | $32,900 | 0 | N/A |
| 1941 | 7 | $18,800 | 0 | N/A |
| 1941-D | 1 | $74,750 | 0 | N/A |
| 1941-S | 4 | $29,375 | 0 | N/A |
| 1942-D | 11 | $15,600 | 0 | N/A |
| 1943-P | 11 | $16,800 | 0 | N/A |
| 1953-S | 4 | $28,200 | 0 | N/A |
| 1954-S | 5 | $35,250 | 0 | N/A |
| 1955-D | 3 | $57,000 | 0 | N/A |
| 1955-S | 9 | $17,038 | 0 | N/A |
As you can see, Jefferson nickels at the very highest grade levels are incredibly rare and valuable when they do appear at auction. Building a registry set of these top pop coins is the ultimate challenge for Jefferson nickel collectors.
Most Valuable Varieties and Errors
In addition to the rare dates above, certain varieties and errors are also highly prized by Jefferson nickel collectors, including:
- 1939 Doubled Die Reverse – Doubling visible on "MONTICELLO" and "FIVE CENTS", $200-$15,000+
- 1943/2-P Overdate – The "3" in the date is punched over a "2", $250-$15,000+
- 1949-D/S – D mintmark punched over an S, $200-$3,000
- 1954-S S Over D – S mintmark punched over a D, $400-$25,000
- 1955 Doubled Die Obverse – Doubling on "IN GOD WE TRUST" and "LIBERTY", $50-$5,000
Collecting these varieties can add depth and interest to a Jefferson nickel set and allows collectors to pursue rarities at a variety of price points.
Collecting Strategies & Tips
For collectors interested in assembling a valuable and rewarding set of Jefferson nickels, here are some expert tips:
- Specialize by series – Focus on the original 1938-2003 series before the commemorative Westward Journey issues began.
- Consider key dates first – Secure the rare key dates like the 1939-D, 1939-S and 1950-D when high grade examples become available.
- Collect by variety – Expand your set beyond just dates and mintmarks by pursuing the scarce varieties like the 1939 DDR and 1943/2 Overdate.
- Set realistic grade goals – Determine how much you can afford to spend and target the nicest grade you can within your budget.
- Be patient – Take your time and wait for attractive, high-end examples of your target dates and varieties to appear.
- Buy certified coins – For valuable issues, stick to coins graded by PCGS or NGC to ensure authenticity and condition.
- Focus on eye appeal – In addition to technical grade, look for coins with strong luster, attractive color and clean surfaces.
- Study the series – Read the definitive Jefferson nickel references like Bernard Nagengast‘s "The Jefferson Nickel Analyst" to build your expertise.
Studying the Series
Some of the greatest collectors and researchers in numismatic history have extensively studied the Jefferson nickel series. Legendary collector Louis Eliasberg assembled a complete collection of Jefferson nickels, including the finest known 1939-D.
Outstanding present-day Jefferson nickel collections have been built by specialists like Tom Delhousaye, whose high-grade set is one of the finest ever assembled. PCGS and NGC maintain Jefferson nickel registry sets where collectors can view the top-ranked sets and compete with their own collections.
Conclusion
With its combination of interesting history, challenging key dates, and fascinating varieties, the Jefferson nickel series is a perennial favorite of U.S. coin collectors. While top rarities have reached astronomical heights in recent years, there are collecting opportunities for nearly every budget.
By studying the series in-depth, seeking coins with strong eye appeal for grade, and making strategic acquisitions of key issues when they appear, you can assemble a Jefferson nickel set that‘s the envy of your collecting peers. Whether you‘re just starting out or looking to take your set to the next level, this rewarding series has much to offer the passionate collector.
