If you’re into collecting coins or just curious about the value of the change in your pocket, you might want to check out Jefferson nickels. These five-cent coins have been around since 1938 and have some rare versions worth a lot of money. Knowing how to identify these coins and what makes them special could turn your collection into a small fortune!
What Makes a Jefferson Nickel Valuable?
Jefferson nickels are popular among collectors for their history and the variations that have popped up over the years. Here’s what to look for:
- The Design: Every Jefferson nickel shows a portrait of Thomas Jefferson on the front. It’s been this way since 1938. Older coins show Jefferson in profile, while newer ones (after 2005) have him in a three-quarter view.
- Monticello on the Back: The reverse of the nickel always shows Monticello, Jefferson’s home, along with the words “E PLURIBUS UNUM,” “FIVE CENTS,” and “UNITED STATES OF AMERICA.”
- Full Steps: One key feature that can boost a coin’s value is whether the steps of Monticello on the back are fully visible. A clear, well-defined set of steps is a rare find and can make the coin worth much more.
The Most Valuable Jefferson Nickels
Now that you know what to look for, here are some of the most valuable Jefferson nickels ever sold:
1938-D Full Steps—$33,600
The 1938 Jefferson nickel from the Denver Mint is highly sought after, especially if it has “full steps” visible on the back. Full steps are a mark of the coin’s quality. A well-preserved 1938-D nickel sold for $33,600 at auction in 2022, making it one of the most valuable nickels out there. Finding one in mint condition is extremely rare, and collectors will pay a premium for it.
1949-D D Over S Full Steps—$32,900
Another highly valuable coin is the 1949-D nickel with a “D over S” minting error. The mint used a die intended for the San Francisco Mint but added a “D” for Denver. This creates a rare coin, especially when it’s in near-mint condition with full steps on the back. One example sold for $32,900 in 2014.
1964 Special Mint Set Full Steps—$32,900
Coins from Special Mint Sets (SMS) are rarer because they were made in small batches to test dies. Only 20-50 of the 1964 SMS Jefferson nickels were made, and those with full steps are considered top-tier collector items. One such nickel went for $32,900 in 2016.
1942-D D Over Horizontal D—$32,200
In 1942, the Denver Mint made a rare error by stamping some nickels with a horizontal “D” before re-stamping it with a normal “D.” These coins are extremely rare, and when they’re in excellent condition with full steps, they can fetch around $32,200, as seen in 2006.
1940 Reverse of 1938—$28,750
A minting error occurred in 1940 when a die from 1938 was mistakenly used for the reverse side of some nickels. These coins can be identified by the wavy, less distinct steps on Monticello’s back. A rare one in mint condition sold for $28,750 in 2011.
How to Spot a Rare Jefferson Nickel
You don’t need to be an expert to spot a valuable Jefferson nickel. Here are a few tips:
- Check the Date and Mint Mark: The first thing to look at is the year and mint mark (D for Denver, S for San Francisco, or no mark for Philadelphia).
- Look for Full Steps: This feature is one of the most important. If the steps on the back of the coin are clear and complete, it’s a big plus.
- Examine Minting Errors: Pay attention to any unusual markings, such as overstrikes, double stamps, or other irregularities. These errors can significantly increase a coin’s value.
- Condition Matters: The better the condition of the coin, the more it’s worth. Coins in mint or near-mint condition fetch the highest prices.
Conclusion
Collecting Jefferson nickels can be a fun and rewarding hobby. Some of these coins, especially those with rare minting errors or full steps, can be worth thousands of dollars. By knowing what to look for and carefully inspecting your nickels, you might just discover a hidden gem in your collection. Keep your eyes peeled, and who knows—you might be holding onto a coin worth much more than five cents!
FAQ’s
Why are some Jefferson nickels worth so much?
Jefferson nickels can be valuable due to rare minting errors, full steps on the Monticello design, and their excellent condition. Coins from specific years or with rare features are highly sought after by collectors.
How can I tell if my Jefferson nickel is valuable?
Check the year and mint mark, look for full steps on the Monticello design, and examine the coin for any minting errors. Coins in better condition are generally worth more.
What’s the most valuable Jefferson nickel?
The 1938-D Full Steps Jefferson nickel is one of the most valuable, with one example selling for $33,600 in 2022.
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