Key Dates and Varieties of the Jefferson Nickel

The Jefferson Nickel, first introduced in 1938, stands as one of the most collected U.S. coins. Named after Thomas Jefferson, the third president of the United States, this coin replaced the Buffalo Nickel, marking a new era in American coinage. Over the decades, the Jefferson Nickel has seen numerous key dates, varieties, and unique issues that make it particularly fascinating for collectors. Understanding these key dates and varieties is essential for both novice and seasoned numismatists looking to build a valuable collection.

In this article, we will explore the history of the Jefferson Nickel, dive into key dates and varieties, and discuss why certain versions of this coin are highly sought after by collectors.

1. The Introduction of the Jefferson Nickel (1938)

Before diving into the key dates and varieties, it’s important to understand the context behind the Jefferson Nickel’s introduction. In 1938, the U.S. Mint decided to replace the Buffalo Nickel with a new design to honor the 200th anniversary of Thomas Jefferson’s birth. Felix Schlag, a German-born American sculptor, won the competition to design the new nickel. His design features a left-facing profile of Jefferson on the obverse and Jefferson’s Virginia home, Monticello, on the reverse.

The first Jefferson Nickels were minted in 1938, and since then, the coin has remained a staple of U.S. currency, undergoing several changes but maintaining its iconic design.

2. Key Dates in Jefferson Nickel History

1938: The First Jefferson Nickels

The first Jefferson Nickels were minted in 1938 at three different U.S. Mint locations: Philadelphia (no mint mark), Denver (D), and San Francisco (S). These early coins are important to collectors because they represent the first year of issue, and the 1938-D and 1938-S nickels, in particular, are highly sought after due to their relatively low mintage figures.

• 1938-D: With a mintage of just over 5.3 million, the Denver-minted Jefferson Nickel from 1938 is a key coin for collectors.
• 1938-S: The San Francisco mint produced even fewer coins, with a mintage of approximately 4.1 million, making the 1938-S nickel another key date for collectors.

1939: The “Reverse of 1938” and “Reverse of 1940” Varieties

In 1939, the U.S. Mint made subtle changes to the reverse design of the Jefferson Nickel. The original reverse, used in 1938 and some of 1939, is known as the “Reverse of 1938.” Later in 1939, the design was modified to create the “Reverse of 1940,” which featured sharper details in the steps of Monticello.

• 1939-D Reverse of 1938: This is a significant variety for collectors because the Denver mint produced a limited number of nickels with the older reverse design. These coins are relatively scarce and highly sought after.
• 1939-D Reverse of 1940: This variety is more common than the Reverse of 1938, but it’s still an important piece of the Jefferson Nickel series.

1942-1945: The Wartime Silver Nickels

One of the most famous varieties of the Jefferson Nickel is the wartime silver version, minted between 1942 and 1945. During World War II, the U.S. Mint needed to conserve nickel for the war effort, so the composition of the coin was changed. Wartime nickels contain 35% silver, 56% copper, and 9% manganese, making them unique among U.S. nickels.

These coins can be easily identified by the large mint mark above Monticello on the reverse. The Philadelphia mint used a “P” mint mark for the first time on these coins, while the Denver (D) and San Francisco (S) mint marks were also prominent.

• 1942-P and 1942-S: These are the first wartime silver nickels, minted in relatively low quantities. The 1942-P is particularly notable for being the first nickel to feature the “P” mint mark.
• 1943-P 3 Over 2 Variety: One of the most famous errors in the Jefferson Nickel series is the 1943-P 3 Over 2 variety. This occurred when a die intended for a 1942 nickel was overpunched with the 1943 date, creating a distinctive error that is highly sought after by collectors.
• 1945-P Double Die Reverse: Another wartime nickel variety is the 1945-P Double Die Reverse, which shows doubling on the lettering on the reverse of the coin. This error is relatively scarce and valuable.

1950-D: The “King of Jefferson Nickels”

The 1950-D Jefferson Nickel is often referred to as the “King of Jefferson Nickels” because of its low mintage and high demand among collectors. With only 2.6 million coins minted, the 1950-D has the lowest mintage of any regular-issue Jefferson Nickel, making it a key date for any serious collection.

The 1950-D became a popular collector’s item almost immediately after its release, with many collectors hoarding the coins. Today, high-quality examples of the 1950-D are highly prized, especially in uncirculated condition.

1964: The Final Year of Traditional Mint Marks

In 1964, the U.S. Mint made a major change to its coinage, eliminating mint marks from all coins in an effort to discourage hoarding. This meant that all Jefferson Nickels produced between 1965 and 1967 bore no mint marks, regardless of where they were minted.

The 1964-D Jefferson Nickel is an important coin because it was the last nickel to feature the “D” mint mark until it was reinstated in 1968.

1971: The Proof Variety

The Jefferson Nickel series also includes several key proof coins, one of the most notable being the 1971-S No-S Proof. This variety occurred when a batch of proof nickels was struck at the San Francisco Mint without the “S” mint mark, which is typically present on proof coins. Only a small number of these error coins were released, making them extremely rare and valuable.

2004-2006: The Westward Journey Series

In 2004, the U.S. Mint introduced a series of commemorative nickels known as the Westward Journey series to celebrate the bicentennial of the Lewis and Clark Expedition. This series featured new designs on the reverse of the nickel, including the Peace Medal (2004), the Keelboat (2004), the American Bison (2005), and the Ocean in View (2005).

In 2006, the Mint returned to the traditional Monticello reverse but introduced a new obverse design featuring a more modern, forward-facing portrait of Jefferson by sculptor Jamie Franki.

• 2004-P and 2004-D Peace Medal: These coins feature the Peace Medal design, which depicts a handshake between a Native American and a European-American, symbolizing the peaceful relations during the Lewis and Clark expedition.
• 2005-P and 2005-D American Bison: The American Bison nickel is particularly popular with collectors because it recalls the Buffalo Nickel design from earlier in the 20th century.
• 2006-P and 2006-D Return to Monticello: These coins mark the return of the Monticello reverse, combined with a new obverse portrait of Jefferson.

2020-W: The “W” Mint Mark Nickels

In 2020, the U.S. Mint struck a limited number of Jefferson Nickels at the West Point Mint. These coins, known as 2020-W nickels, were not released into circulation but were included in special mint sets. The addition of the “W” mint mark makes these coins a unique part of the Jefferson Nickel series.

3. Significant Varieties of the Jefferson Nickel

In addition to key dates, several varieties of the Jefferson Nickel are of interest to collectors. These varieties often occur as the result of errors during the minting process, making them rare and valuable.

1939 Doubled Monticello

The 1939 Doubled Monticello variety is a notable error in the Jefferson Nickel series. This variety features doubling on the reverse of the coin, particularly in the word “Monticello” and “Five Cents.” The doubling is most prominent on coins minted in Philadelphia and is highly sought after by error collectors.

1943-P 3 Over 2

As mentioned earlier, the 1943-P 3 Over 2 variety is one of the most famous errors in the Jefferson Nickel series. This error occurred when a die intended for a 1942 nickel was repunched with the 1943 date, creating a distinctive overdate that is easily recognizable.

1954-S S Over D

The 1954-S S Over D variety is another popular error in the Jefferson Nickel series. This variety features a repunched mint mark, where the original “D” mint mark from the Denver Mint was struck over with an “S” mint mark from the San Francisco Mint. This error is relatively rare and commands a premium among collectors.

2005-D Speared Bison

The 2005-D Speared Bison is a modern error that occurred during the production of the Westward Journey nickels. This variety features a die crack that runs through the image of the bison on the reverse, giving the appearance that the bison has been “speared.” This error is relatively rare and is sought after by collectors of modern U.S. coins.

4. Collecting Jefferson Nickels

For collectors, Jefferson Nickels offer a rich and varied series with many key dates and varieties to explore. Whether you’re interested in early issues, wartime silver nickels, or modern varieties, there are plenty of opportunities to build a diverse and valuable collection.

Some key factors to consider when collecting Jefferson Nickels include:

• Condition: Like all coins, the value of a Jefferson Nickel depends heavily on its condition. Uncirculated and proof coins are generally more valuable than circulated coins.
• Mintage: Coins with lower mintage figures are typically more valuable than those produced in large quantities. This is especially true for coins like the 1950-D and the 1939-D Reverse of 1938.
• Varieties and Errors: Varieties and errors can add significant value to a Jefferson Nickel collection. Look for coins with doubled dies, repunched mint marks, or overdates, as these are often highly sought after by collectors.

Conclusion

The Jefferson Nickel, with its rich history and numerous key dates and varieties, is a fascinating series for both novice and experienced collectors. From the early issues of 1938 to the wartime silver nickels and modern varieties, there are plenty of unique coins to discover. Whether you’re collecting for historical significance, rarity, or simply for the love of numismatics, the Jefferson Nickel offers a rewarding and educational journey.

By understanding the key dates, significant varieties, and the overall historical context of the Jefferson Nickel, collectors can build a valuable and meaningful collection that spans decades of American history.

FAQs

1. What is the rarest Jefferson Nickel?

The 1950-D Jefferson Nickel is considered one of the rarest due to its low mintage of only 2.6 million coins. It is highly sought after by collectors in uncirculated condition.

2. How can I tell if my 1939 Jefferson Nickel is a “Reverse of 1938” or “Reverse of 1940”?

To identify whether your 1939 Jefferson Nickel is a “Reverse of 1938” or “Reverse of 1940,” examine the details on the steps of Monticello. The “Reverse of 1938” has weaker step details, while the “Reverse of 1940” shows more distinct, sharper steps.

3. Why are wartime silver nickels valuable?

Wartime silver nickels, minted from 1942 to 1945, contain 35% silver due to the wartime demand for nickel. Their silver content, along with the large mint marks above Monticello, makes them valuable to collectors.

4. What is the significance of the 1943-P 3 Over 2 variety?

The 1943-P 3 Over 2 variety is an error coin where the date “1943” was stamped over a “1942” die, creating a noticeable overdate. This rare error is highly prized by collectors.

5. What is the Westward Journey Series?

The Westward Journey Series, minted between 2004 and 2006, commemorates the Lewis and Clark Expedition. It features different reverse designs, such as the Peace Medal, Keelboat, and American Bison, offering a modern twist to the Jefferson Nickel series.