Jefferson nickels have been a staple of American currency since 1938, but some of them are worth far more than their five-cent face value. While most are common, a few rare varieties can fetch over $50,000 at auction. If you’re a coin collector or just curious about what might be hiding in your pocket change, this guide will help you identify the ultra-rare Jefferson nickels that are highly sought after by numismatists.
Table of Contents
History
The Jefferson nickel was first introduced in 1938, replacing the Buffalo nickel. Designed by Felix Schlag, it features a portrait of Thomas Jefferson on the obverse and Monticello, his Virginia estate, on the reverse. Over the years, variations in minting, errors, and striking quality have made certain Jefferson nickels exceptionally rare and valuable.
While most Jefferson nickels remain common, a few stand out due to unique errors, special minting processes, or exceptionally well-preserved details. These are the coins collectors dream of finding.
Rare Jefferson Nickels
| Year & Type | Notable Feature | Auction Price |
|---|---|---|
| 1938-D Full Steps | First-year issue, high-quality strike | $33,600 |
| 1942-D/D Horizontal | Double mint mark error | $32,200 |
| 1943/2 Overdate | Misstamped year, WWII-era nickel | $16,675 |
| 1953-S Full Steps | Scarce San Francisco issue with Full Steps | $24,000 |
| 1964 SMS | Special Mint Set with sharp details | $32,900 |
Identifying Nickels
The 1938-D nickel is a first-year issue from the Denver Mint. While many were produced, finding one with Full Steps on the reverse is extremely rare. Full Steps indicate that the Monticello design was struck with such precision that all six steps are visible.
- Why It’s Valuable: Coins with sharp strikes and Full Steps are rare in early Jefferson nickels.
- Auction Price: A specimen graded MS68+ Full Steps sold for $33,600 in 2022.
1942-D/D Horizontal Jefferson Nickel
This coin features a double-struck “D” mint mark, where the second “D” is positioned horizontally over the first. These minting errors occurred when dies were repunched, creating a distinct and collectible variety.
- Why It’s Valuable: Minting errors like this are uncommon, making them highly desirable.
- Auction Price: A well-preserved example graded MS64 Full Steps sold for $32,200.
1943/2 Jefferson Nickel Overdate
During World War II, the U.S. Mint changed nickel composition to include 35% silver. In 1943, some dies mistakenly carried a faint impression of a “2” beneath the “3” in the date, creating an overdate variety.
- Why It’s Valuable: The overdate error is rare, and war-era nickels are already highly collectible.
- Auction Price: An MS67 Full Steps specimen sold for $16,675 in 2008.
1953-S Jefferson Nickel with Full Steps
San Francisco-minted Jefferson nickels from the 1950s are known for weak strikes, making Full Steps versions incredibly rare. A well-struck 1953-S nickel with clearly visible steps is a collector’s treasure.
- Why It’s Valuable: Few 1953-S nickels exhibit Full Steps, making them exceptionally scarce.
- Auction Price: A high-grade example sold for $24,000 in 2019.
1964 Jefferson Nickel from the Special Mint Set (SMS)
The 1964 SMS nickel is not a standard circulation coin but part of a Special Mint Set (SMS) with higher-quality strikes. These coins were likely experimental and have sharper details than regular 1964 nickels.
- Why It’s Valuable: Only a handful of these SMS nickels exist, making them one of the rarest Jefferson nickels.
- Auction Price: A specimen graded SP68 Full Steps sold for $32,900 in 2016.
How to Spot
Certain years and mint locations are associated with rare varieties. Look for key years such as 1938-D, 1942-D, 1943/2, 1953-S, and 1964 SMS. Mint marks (“D” for Denver, “S” for San Francisco) can be found on the reverse, to the right of Monticello.
Look for Full Steps
A Jefferson nickel with well-defined Full Steps on Monticello’s staircase is significantly more valuable. Examine the reverse under good lighting or a magnifying glass to see if the steps are complete.
Inspect for Errors
- Double mint marks (e.g., 1942-D/D Horizontal)
- Overdates (e.g., 1943/2)
- Misprints such as off-center strikes or die cracks
Examine the Condition
Coins in Mint State (MS) condition with minimal wear are worth significantly more. Graded coins in MS65 or higher command premium prices.
Consult a Professional Grader
If you think you have a rare Jefferson nickel, consider having it professionally graded by PCGS (Professional Coin Grading Service) or NGC (Numismatic Guaranty Company) to determine its true value.
Where to Sell Rare Jefferson Nickels
If you’ve identified a valuable Jefferson nickel, here are the best places to sell it:
- Online Auctions – eBay, Heritage Auctions, Stack’s Bowers
- Coin Dealers – Local shops or professional numismatists
- Coin Shows & Conventions – Ideal for networking with collectors
- Grading Services – Certified coins fetch higher prices
Jefferson nickels may seem like ordinary pocket change, but some of them are worth thousands—or even tens of thousands—of dollars. Whether it’s due to a minting error, a Full Steps designation, or a rare Special Mint Set release, these nickels have become prized collector’s items. By checking your coins carefully and knowing what makes them valuable, you might just uncover a hidden gem in your collection.
FAQs
What is the rarest Jefferson nickel?
The 1964 SMS nickel is one of the rarest, with very few known examples.
How do I know if my Jefferson nickel is valuable?
Check for Full Steps, rare dates, mint marks, and minting errors.
Where can I sell a rare Jefferson nickel?
Sell through online auctions, coin dealers, or professional grading services.
Why are Full Steps important?
Full Steps indicate a sharp strike, making the coin more valuable.
Should I get my Jefferson nickel graded?
Yes, professional grading increases credibility and market value.
