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Many people do not realize that their pockets may hide amazing and rare coins that are valuable and worth taking a place of honor in any collection. Jefferson nickels definitely refer to this group.
In fact, the Jefferson nickel is one of the most commonly circulated coins in the US, which still incorporates an interesting history, rare and valuable samples, and details turning an ordinary instance into a coin worth hundreds of dollars. So, which issues are worth keeping? What is the current value of Jefferson nickels? What are the key dates, and which features identify these coins as rare?
The Story Behind Rare Nickels in Circulation
The five-cent coin featuring a portrait of the third U.S. President, Thomas Jefferson, was first issued in 1938. Prior to that, nickel coins depicted an Indian chief, and the design of those instances (known as Buffalo Nickels) was rather popular. However, the U.S. Mint decided that they should replace the Indian figure with a portrait of Jefferson, honoring his role in the country's history.
The responsibility for coin creation fell on Felix Schlag, who put the profile of Jefferson on the obverse and his famous Monticello residence on the reverse side. This design is classic and one of the most recognizable, long-lasting in American numismatics (although it has been slightly changed over time).
Design and Characteristics
Over the decades, the Jefferson nickel needed a slight change in design, its composition, or die usage for the release, resulting in rare and valuable pieces. There are many different coins, e.g., 1984 nickel D, P, no mint mark, or 1987 issues.
Nevertheless, the main characteristics of the coin have remained unchanged.
Characteristic | Description |
Years of Minting | 1938 – present |
Composition | Copper-nickel alloy |
Weight | 5.00 g |
Diameter | 21.2 mm |
Thickness | 1.95 mm |
Designer | Felix Schlag |
Obverse | A portrait of Thomas Jefferson |
Reverse | An image of Monticello, Jefferson's estate |
Edge | Plain |
What Constitutes the Jefferson Nickels Value
As we mentioned above, the Jefferson nickel has gone through several important changes that might have influenced the overall appeal and, hence, the worth of each coin in the series:
Changes in the composition during World War II (1942-1945): Due to a wartime shortage of nickel, which was essential for military production, the U.S. Mint began producing coins using a silver alloy instead (1 ounce is $32.81!).
Design Update of 2004-2006: In honor of the 200th anniversary of the Lewis and Clark Expedition, the obverse was temporarily modified. Yet, in 2006, Monticello took its place back on the reverse, and the obverse got decorated with an elevated portrait of Jefferson (by Jamie Franki).
Modern Changes: As of 2020, the obverse has been modified again, keeping the same design style yet with a more modern and detailed image of Jefferson. The reverse of the coin remains the same.
Key Dates and The Most Valuable Examples
Now that all the main aspects that may affect the value have been studied, we may finally turn to particular examples and dates that are of great interest among collectors.
Since nickels have been in circulation for decades, collectors have the opportunity to “go wild” in their hunt to get their coveted, rare, and significant item into the collection. Rare pieces often stand out due to small mintages, minting errors, or other special attributes that make them unique. Here is a table with the most outstanding Jefferson nickel values by year.
Year/Coin | Mintage | Top Auction Record |
1938 | 19,496,000 | $33,600.00
|
1938 Proof | 19,365 | |
1938-D | 5,376,000 | |
1938-S | 4,105,000 | |
1939 | 120,615,000 | $26,400.00 |
1939 Proof | 12,535 | |
1939-D | 3,514,000 | |
1939-S | 6,630,000 | |
1942 | 49,789,000 | $32,200.00
|
1942 Proof | 29,600 | |
1942-D | 13,938,000 | |
1942-P Silver | 57,873,000 | |
1942-P Silver Proof | 27,600 | |
1942-S Silver | 32,900,000 | |
1945-P Silver | 119,408,100 | $4,320.00
|
1945-D Silver | 37,158,000 | |
1945-S Silver | 58,939,000 | |
1950 | 9,796,000 | $17,250.00 |
1950 Proof | 51,386 | |
1950-D | 2,630,030 | |
1954 | 47,684,050 | $35,250.00 |
1954 Proof | 233,300 | |
1954-D | 117,183,060 | |
1954-S | 29,384,000 | |
1960 | 55,416,000 | $32,200.00 |
1960 Proof | 1,691,602 | |
1960-D | 192,582,180 | |
1964 | 1,028,622,762 | $19,800.00 |
1964 Proof | 3,950,762 | |
1964-D | 1,787,297,160 | |
1970-D | 515,485,380 | $6,462.50
|
1970-S | 238,832,004 | |
1970-S Proof | 2,632,810 | |
1974 | 601,752,000 | $4,230.00
|
1974-D | 277,373,000 | |
1974-S Proof | 2,612,568 | |
1979 | 463,188,000 | $4,500.00
|
1979-D | 325,867,672 | |
1979-S Proof | 3,677,175 | |
1983-P | 561,615,000 | $5,760.00
|
1983-D | 536,726,276 | |
1983-S Proof | 3,279,126 | |
1989-P | 898,812,000 | $1,610.00
|
1989-D | 570,842,474 | |
1989-S Proof | 3,220,194 | |
1990-P | 661,636,000 | $2,990.00
|
1990-D | 663,938,503 | |
1990-S Proof | 3,299,559 | |
1994-P | 722,160,000 | $1,356.00
|
1994-P Matte Finish | 167,703 | |
1994-D | 715,762,110 | |
1994-S Proof | 3,269,923 | |
1996-P | 829,332,000 | $805.00
|
1996-D | 817,736,000 | |
1996-S Proof | 2,525,265 | |
1999-P | 1,212,000,000 | $5,463.00
|
1999-D | 1,066,720,000 | |
1999-S Proof | 3,347,966 | |
2000-P | 846,240,000 | $6,000.00
|
2000-D | 1,509,520,000 | |
2000-S Proof | 4,047,993 | |
2016-P | 786,960,000 | $2,520.00
|
2016-D | 759,600,000 | |
2016-S Proof | 1,011,624 | |
2020-P | 772,780,000 | $3,350.00
|
2020-D | 798,000,000 | |
2020-S Proof | 824,332 | |
2020-W | 465,080 | |
2020-W Reverse Proof | 313,184 | |
2023-P | 692,600,000 | $905.00
|
2023-D | 734,800,000 | |
2023-S Proof | — |
Top 5 Modern Jefferson Nickels
At first glance, the newest coins are rarely of great value. However, this is not always true. Valuable US nickels in circulation can be found among coins issued after the year 2000, especially if they are misprints or erroneous. Let us take a look at what nickels worth money in circulation can become an important collection item if you happen to stumble upon them.
2000-P 5C MS
Auction Record: $6,000
Mint: Philadelphia (P)
Composition: 75% copper, 25% nickel
Unique Features: This coin boasts a razor-sharp strike, clean surfaces, and unusually vibrant luster.
Why It Stands Out: The 2000-P nickel was minted in huge numbers, but finding one in nearly flawless condition with full steps is extremely difficult.
2004-P Peace Medal MS
Auction Record: $4,230
Mint: Philadelphia (P)
Composition: 75% copper, 25% nickel
Unique Features: Part of the celebrated Westward Journey series, honoring the Lewis and Clark Expedition.
Why It Stands Out: The historical theme referring to the Lewis and Clark Expedition, limited release, and intricate reverse design make this issue a unique creation.
2006-D 5C Return to Monticello MS
Auction Record: $4,300
Mint: Denver (D)
Composition: 75% copper, 25% nickel
Unique Features: Marks the return to the classic Monticello building on the reverse with an updated design and enhanced realism.
Why It Stands Out: This coin bridged the old and new eras of Jefferson nickels with a nearly perfect strike and full steps – qualities rarely achieved in circulation issues. It is a reminder that transitional-year coins can hold unique appeal.
2011-D 5C MS
Auction Record: $6,462
Mint: Denver (D)
Composition: 75% copper, 25% nickel
Unique Features: Known for its brilliant luster and strong strike with near-flawless surfaces under magnification.
Why It Stands Out: Few modern nickels from this era have commanded such a high price. The combination of technical excellence and visual appeal made this piece a peculiar option at auction, proving that collectors continue to chase perfection, even in more recent mintages.
2021-P 5C MS
Auction Record: $3,350
Mint: Philadelphia (P)
Composition: 75% copper, 25% nickel
Unique Features: Contemporary issue with a clean, modern profile of Jefferson and sharp Monticello detail on the reverse.
Why It Stands Out: Though freshly minted, this coin dazzles at auctions due to its nearly pristine condition. As grading standards become even more refined, standout modern coins like this one are setting new records.
One More Thing…
Such a simple, widely known, and circulated coin can surprise and delight any collector with its Jefferson nickel value lists. The next time you have this or any other unremarkable coin in your hands, be sure to examine it carefully: you may have a valuable collectible in front of you with secrets to be discovered and studied.
In order not to miss a rare coin that might be in your pocket, you can use modern digital tools. For example, the Coin ID Scanner app can help you quickly identify coins, determine their rarity, and estimate their value. It is a great way to make the collecting process easier and more accurate.
Find, study, and save rare specimens, which is not that difficult, as even a seemingly ordinary nickel can be of great value!
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