Must-Have Key Date Jefferson Nickels Worth Saving

When you check your change, do you often think about what real valuables may be lying among ordinary coins? Many people do not even realize that in their pockets may be lurking amazing and rare Jefferson nickels that are valuable and worth taking a place of honor in any collection. 

The Jefferson nickel is one of the most common U.S. coins still in use today. However, this humble five-cent coin hides a lot: an interesting history, rare and valuable specimens, and details making an ordinary nickel into a coin worth hundreds of dollars. So let's find out what nickels are worth keeping, what are key dates for nickels, what year Jefferson nickels are valuable and what are the most valuable nickels in circulation today?

A Little Went a Long Way: The Story Behind Rare Nickels in Circulation

Before we start talking about Jefferson nickels key dates and Jefferson nickels value, we would like to go back to the beginning and briefly review the history of one of the most widely used coins in the United States.

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 these coins (known as Buffalo Nickels), was popular. However, the U.S. Mint decided to replace the Indian with a portrait of Jefferson, honoring his role in the country's history.

The new coin was designed by sculptor Felix Schlag. The obverse of the coin depicts Jefferson's profile, while the reverse shows his famous Monticello residence. This design is a classic and is one of the most recognizable and long-lived in US numismatics (although it has slightly changed over time).

Not Just Another Nickel: Coin Design and Characteristics

Over the decades of its history, the Jefferson nickel needed a slight change in design, a 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 nickels.

However, the main characteristics of Jefferson nickel have remained unchanged over the years. You can study them in the table below.

Changes and Peculiarities: What Makes Nickel a Collectible One

As we mentioned above, the Jefferson nickel has gone through several important changes since it was first released, which should be considered when collecting Jefferson nickels:

• Changes in the composition of the coin during World War II (1942-1945): due to the shortage of nickel, which was needed for military purposes, coins began to be made of silver alloy.

• Design Update 2004-2006: In honor of the 200th anniversary of the Lewis and Clark Expedition, the obverse was temporarily modified. But in 2006, Monticello returned to the reverse of the coin, and the obverse of the coin was decorated with an upgraded portrait of Jefferson (by Jamie Franki).

• Modern Changes: as of 2020, the obverse of the coin has been updated again, keeping the same design style but with a more modern and detailed image of Jefferson. The reverse of the coin remains unchanged.

A Collectors’ Wishlist: Key Dates for Nickels and The Most Valuable Nickle Examples

Now when all the main details and milestones of history directly affecting the value of the coin were studied, we can move on to the main thing and learn the answer to the questions: “Are there any nickels that are valuable and what year nickels are worth keeping?”

Since Jefferson nickels have been in circulation for decades (and even still in use today), collectors have the opportunity to “go wild” in their search to get their coveted, rare, and significant item into the collection. Rare pieces often stand out due to small mintages, minting errors, or the use of unusual metals.

The Hunt Begins: What Nickels to Look for?

Please refer to the table below to explore key dates for Jefferson nickels and outstanding pieces with high collectability and value.

New Turn: What About Modern Nickels Worth Money?

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 misprint coins. Let's take a look at what nickels worth money in circulation can become an important collection item if you happen to stumble upon them.

1. 2009 D and P

Due to a sharp reduction in mintage during the economic crisis, 2009 nickels are not often found in circulation, but some people are lucky.  These coins are especially valuable in good condition. The value of such specimens can reach $10-50 and more.

2. 2004–2005 Westward Journey Nickels

These are special series coins issued to commemorate the 200th anniversary of the Lewis and Clark Expedition. Nickels with new reverses, e.g., “Keelboat” and “American Bison” can still be found in circulation. They are sought after by collectors (especially in high quality). Their cost can go up to several tens of dollars.

3. 2005-D "Speared Bison"

These coins are another variety of valuable nickels in circulation. The coin was minted with an error that resulted in an additional line on the obverse of the coin: the bison depicted on the reverse appears to be pierced by a spear. This nickel specimen is also valuable and its market price ranges from $300 to $1,200 depending on condition.

Such a simple, widely known and circulated coin like the Jefferson nickel can surprise and delight any collector. 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 (https://coin-identifier.com/) can help you quickly identify coins, determine their rarity and estimated value. It's 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!

Sources:

1. https://www.coincollecting.com/modern-jefferson-nickels

2. https://en.wikipedia.org/wiki/Jefferson_nickel

3. https://en.wikipedia.org/wiki/United_States_nickel_mintage_figures