Jefferson nickel value: key dates, varieties and what to look for

Most Jefferson nickels are worth face value, but a few dates stand out: the 1939-D and 1950-D have the lowest mintages of the series, the 1942-1945 war nickels contain silver, and coins with fully struck Monticello steps carry real premiums in Mint State.

By the Coin Scanner team · Updated 2026-10-13

Have one of these coins? Scan it with Coin Scanner for an instant ID and an estimated value. App Store →

A short history of the Jefferson nickel

Thomas Jefferson replaced the Buffalo nickel in 1938, with his home, Monticello, on the reverse. The U.S. Mint credits both original designs to Felix Schlag. The coin has been made in huge numbers from the start, so even the scarcest regular dates number in the millions. Value in this series therefore comes from three places: low-mintage dates in nice condition, varieties and errors, and sharply struck coins.

During World War II the alloy changed to include silver, and the mint mark moved above Monticello's dome. That story has its own page: see war nickels (1942-1945).

Where the mint mark is

From 1938 to 1964 (outside the war years) a small D or S sits on the reverse to the right of Monticello; Philadelphia coins have none. The U.S. Mint says no mint marks were used on circulating coins from 1965 to 1967, that mint marks moved to the obverse in 1968, and that Philadelphia's P has appeared on the nickel since 1980.

Key dates and varieties with mintages

Mintages are business-strike figures as listed by PCGS CoinFacts.

1939 Reverse of 1938 and Reverse of 1940

In 1939 the Mint revised the reverse. PCGS explains that the original hub had weak, wavy steps on Monticello, while the improved version, called the Reverse of 1940, shows crisper, straighter steps. Look at the area just below the bottom step in the middle of the building: on the Reverse of 1938 the line curves noticeably. PCGS considers the 1939 Philadelphia coin with the Reverse of 1938 the scarcer of the two, which suggests that hub was used only briefly.

1939-D versus 1950-D

The 1950-D has the lower mintage, but PCGS points out that it was hoarded as a key date from the start, so even full rolls survive. The 1939-D was not saved in the same way, and many were lost to circulation, so it usually brings a higher premium than the 1950-D despite having about 900,000 more coins struck.

1942-D D over horizontal D

Mint marks were punched into working dies by hand in those years. On this variety a D was first punched on its side and then corrected. PCGS describes the error as visible to the naked eye and estimates that only a few hundred exist, with probably fewer than 100 in Mint State. PCGS lists its auction record as about $15,275 for an MS66 sold by Heritage in April 2013.

Full Steps: the strike that changes the price

The six steps at the base of Monticello are among the first details to come up weak. NGC notes that steps on circulation strikes are often soft, that strike quality fell off sharply from 1950, and that the coin's relief was lowered by the late 1980s, which produced sharper strikes afterward. NGC adds 5FS when five steps are complete and 6FS when all six are; PCGS uses a single FS label for coins with at least five complete steps. The designation does not change the numerical grade, but collectors often value a Full Steps coin well above an otherwise similar coin without it. One tip from NGC: the small "FS" on the obverse of modern nickels is the designer's initials, not a grading mark.

Westward Journey (2004-2005) and the 2006 redesign

For the bicentennials of the Louisiana Purchase and the Lewis and Clark expedition, the Mint issued four Westward Journey designs under Public Law 108-15. The 2004 coins showed the Peace Medal and the Keelboat. In 2005 a new portrait of Jefferson appeared, paired with an American Bison reverse and an "Ocean in View" scene. In 2006 the Mint returned to Monticello, now with more detail in the dome, balconies, door and windows, and placed a forward-facing portrait of Jefferson on the obverse, based on an 1800 portrait by Rembrandt Peale. For 2026 the Mint's listed inscriptions include the dual date 1776 ~ 2026. These modern coins were made in large numbers, so circulated examples are face value; collectors look for top-grade uncirculated pieces and genuine errors.

How to check your Jefferson nickel

1. Find the date and mint mark. Use the locations above. A 1939-D, 1950-D or early S-mint coin is worth a closer look.
2. Look for a big letter above the dome. If present, you have a silver war nickel.
3. Check 1939 coins for the Reverse of 1938 versus 1940 step style, and 1942-D coins for a sideways D under the mint mark.
4. Study the steps with a loupe. Count how many unbroken steps run across the base of Monticello.
5. Rule out damage. Scratches through the steps, cleaning and corrosion lower value; post-mint damage is not an error.

Scan both sides with Coin Scanner to have the app read the date and mint mark and give you an estimated value range in a few seconds.

What drives value

Grade matters most: a worn 1939-D is a modest collectible, while the same date in high Mint State is a serious coin. Strike (Full Steps), eye appeal, varieties and certification all add to that. Treat any number you see online, including app estimates, as a starting point. For coins that look uncirculated or show a variety, professional grading is the way to establish what they are actually worth.

Check your coin in seconds

Coin Scanner identifies a coin from a photo of both sides, reads the date and mint mark, and gives an estimated value range so you know whether it deserves a closer look.