Rare or Common? The Exploration of the 1958 Nickel Value

Coins do not become rare overnight. This is a long-lasting process that may commence at any point of production, distribution, or even beyond. The 1958 Jefferson Nickel is a fine example of how the journey of the coin, its origin, and its background can influence the value for good. 

Although commonly circulated instances might be out of interest, those well-preserved pieces draw one’s attention without a doubt. But what really determines whether a coin is rare or not? Learn which components constitute the numismatic worth and where to check coin value appropriately without the fear of being wrong. 

Quick Notes about The Appearance

According to Coin ID Scanner*, the 1958 nickel is a standard Jefferson Nickel featuring Thomas Jefferson on the obverse and Monticello on the reverse. It has a diameter of 21.21 millimeters and weighs 5.00 grams, composed of an alloy of 75% copper and 25% nickel. These are standard characteristics that do not affect the value but define this instance as a fine representative of the series.

*Coin ID Scanner is a free numismatic app designed specifically for identifying, evaluating, and providing detailed information about coins via photos. This also includes coin-management tools for those who wish to keep track of their collections online.

The Value: What It Means and How It is Formed

The worth of a coin is an unpredictable variable that may either match or surpass its face value. This actually depends on several factors that may come down to minting details, condition, and any variations (both of intended and accidental nature). So, here is how the 1958 nickel worth is determined. 

1. Mint Marks and Mintage Figures

The place where a coin was born matters when it comes to rarity and consequent pricing tendencies. Those instances that were produced in lower quantities usually attract collector interest thanks to the fact that these are harder to find (especially in high grades).

2. Grade and Condition

One of the most important factors that inevitably influences the worth of a collectible is its condition. As a rule, coins are graded from Poor (heavily worn and hardly discernible) to Mint State (flawless and uncirculated) based on systems like the Sheldon scale.

3. Errors and Variations

One more aspect to note refers to any imperfection occurring during the mintage process or afterward. Errors generally include misaligned strikes, doubled die obverse, or planchet faults, which, due to their rarity, collectors are usually fond of.

4. Historical and Market Significance

Coins are literal artifacts that represent something more than simple tools of trading. In this respect, the 1958 nickel symbolizes the latter years of post-war America and the ongoing production of the Jefferson series which started 20 years ago, in 1938. The more appealing a coin can be, the more collectors aspire to get it. When the interest rises, so does the value – that is the rule.

Value by Condition: Circulated to Mint State

First of all, let us take a look at how a condition and a grade may affect the value of a 1958 nickel. As time goes on, coins inevitably deteriorate in quality and appearance as they move through hands and are subjected to the stresses of circulation. However, some instances may remain preserved and obtain the grades of uncirculated or mint-state coins with their original characteristics intact and pristine.

Circulated Coins

Coins that have been intensively circulated often exhibit wear, e.g., scratches, dulled surfaces, and loss of details. Since their condition frequently fails to grab collectors' interest, these circulated pieces of the 1958 nickel typically only hold their face value of 5 cents and gradually fade away.

Uncirculated Coins

Uncirculated or mint-state coins are those that have never been used and are still in excellent condition. These nickels have vivid luster, crisp features, and no obvious wear. When examined by professional services, their value is far higher than that of samples of common use.

An Example to Know

Let us take the particular examples of the 1958 Jefferson nickels. While coins graded MS62 are valued at around $14, the price may rise dramatically with higher grades. In turn, according to the PCGS Price Guide, specimens graded MS66 could be sold for $4,150 or more at auctions. This vividly illustrates the enormous influence that condition may have on the nickel 1958 value and explains why collectors prefer superior instances over ordinary ones.

*FS (Full Steps) refers to a designation for Jefferson Nickels with fully visible, uninterrupted, discernible steps on the reverse side of Monticello. 

Predetermined Worth: Rare Errors and Variations in 1958 Nickels

While the condition may change (from Mint State to circulated; not vice versa, though), there are some other aspects that may preliminarily determine how valuable a coin should be. Note this is not an unequivocal rule, but a tendency that keeps going for years. 

1958 Nickel Mintage Figures

In 1958, only two US mints were responsible for the production of Jefferson nickels, i.e., those located in Philadelphia and Denver. 

• Philadelphia Mint: 17,088,000 (1958 Nickel No Mint Mark)

• Denver Mint: 168,249,120 (1958 D Nickel)

Although these numbers imply that the 1958 D Jefferson Nickel is more widespread, it is important to keep in mind that condition and survival rates are important factors in assessing value.

Proof Coins

A proof coin is a specially minted coin struck with polished dies and planchets to achieve a mirror-like finish, sharper details, and a higher level of aesthetic appeal. With a mintage of approximately 875,652, these proof nickels are relatively limited and may be sold for hundreds of dollars:

• 1958 5C Proof MS69 – $820

• 1958 5C Proof CAM MS69 – $1,200

• 1958 5C Proof DCAM MS69 – $10,500

Full Steps (FS) Designation

Full Steps is a unique designation characteristic of the Jefferson nickels only. The most indicative feature of the design is the depiction of the Monticello building on the reverse of the coin. The stair of this object can be either crisp or blurred. The first option is considered the rarest of all. 

Rare Errors and Variations

Another source of value refers to the 1958 nickel errors and deviations. At this point, it is irrelevant whether this coin has been in circulation or not, how high its grade is, etc., because imperfection can make your coin a perfect addition that boosts the worth of the whole collection at once. Here are the main errors to look for:

• Doubled Die Errors: Doubling on important characteristics like the date or inscriptions.

• Off-Center Strikes: Misalignment that appears 10% or more off-center.

• Planchet Errors: Coins struck on defective metal or clipped planchets.

• Die Cracks and Cuds: Small minting defects.

Assess the value of a coin before purchasing it and make your collection thrive like never before!

Sources: 

1. https://www.pcgs.com/coinfacts/coin/1958-5c-fs/84063 

2. https://en.wikipedia.org/wiki/Nickel_(United_States_coin)