The other day I found a 1938 Jefferson nickel in my change.
My initial thought was, “Wow… this is over 70 years old. Surely, it must be worth something.”
I think a lot of people tend to think that.
Nickels Are Common Coins In Pocket Change
It happens the most with nickels because they are the coin we receive in our everyday change that has gone the longest without any significant change to the design (other than special nickels — like the Westward Journey nickels).
Pennies changed in 1959. And all the other coins (dimes, quarters and up) either changed their design or at least went from being made of silver to steel after 1964.
Nickels though, have remained basically the same since 1938 — when the Thomas Jefferson design (aka “the Jefferson nickel”) was introduced.
It tends to be that when a coin’s design is still current, the coins from that series stay pretty low in price. They generally don’t go up much in value until the design on the coin is changed. So then, how much are Jefferson nickels worth today?
How Much Is A Jefferson Nickel Worth?
There are a few rare Jefferson nickels.
The ones to particularly watch for in circulation are these:
- 1938-D nickel
- 1938-S nickel
- 1939-D nickel
- 1950-D nickel
But even those nickels are only worth $1 to $5 apiece in the condition you will most likely find them in your change (which is to say, pretty worn down after 70+ years in circulation).
If you happen to find them in nearly pristine (almost new) condition, they’re worth several times more than that — anywhere from $3 to $25 apiece! (ANY nickel prior to 1956 is worth several times its face value in this condition, by the way).
Either way… that’s a nice bit of change for a coin that only “cost” you 5 cents!
Here’s a list of rare Jefferson nickel key dates and varieties.
Which Of The Rare Jefferson Nickels Is The Most Common?
The 1950-D Jefferson nickel might be the most likely to find, since it’s newer than the others. It’s worth $5 — even in very worn condition.
The wartime nickels from 1942 to 1946 were made of 40% silver, so they’re worth about $1 each.
I assume that people have removed most of these from circulation, but there may be some still out there since people generally assume that nickels are only worth face value.
A Word About Mint Marks…
In case you’re not familiar with mint marks, Jefferson nickels were made at 3 different U.S. Mints:
- Philadelphia
- San Francisco
- Denver
Most nickels made at the Philadelphia Mint have a “P” somewhere on the design. San Francisco nickels always have an “S.” And Denver nickels have a “D.”
Happy hunting and feel free to post any cool finds or questions here!
I’ve been a coin collector and a rare book and collectible dealer for over 15 years. My primary areas of interest are U.S. silver coins and older paper currency.
