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The world of coin collecting is full of surprises, and sometimes the most ordinary-looking coins turn out to be incredibly valuable. Among American coins, the Jefferson nickel holds a special place, not only for its historical significance but also for the rare varieties that collectors are eager to find. One such coin is the 1939 Jefferson nickel, which in certain rare conditions and mint varieties can be valued as high as $350,000. If you think this nickel might be hiding in your collection or even in spare change, it is worth learning what makes it so valuable.
The History of the Jefferson Nickel
The Jefferson nickel was first introduced in 1938, replacing the Buffalo nickel that had been in circulation for 25 years. Designed by artist Felix Schlag, the coin features a portrait of Thomas Jefferson on the obverse and his Virginia home, Monticello, on the reverse. The design was chosen through a national competition, and it has remained a staple of U.S. coinage ever since, with some modifications over the years. The 1939 nickel was part of the early years of this design, making it historically significant for collectors.
Why the 1939 Nickel Stands Out
Not every 1939 nickel is worth a fortune. What makes certain examples valuable are unique varieties and minting errors. During this time, the U.S. Mint faced challenges with striking sharp details on the reverse design, particularly around Monticello. This led to differences known as “reverse of 1938” and “reverse of 1940.” Collectors also pay close attention to the clarity of the steps on Monticello, referred to as “Full Steps.” A 1939 Jefferson nickel with sharp Full Steps, in pristine condition, is extremely rare and highly sought after.
The Key Varieties of 1939 Jefferson Nickels
There are several important varieties of the 1939 nickel that collectors look for:
1939 Reverse of 1938
This version used the original reverse design from the first year of issue in 1938. The design details are less sharp, especially around Monticello. While collectible, this variety is more common compared to others.
1939 Reverse of 1940
This variety features a sharper design introduced in 1940 but used on some 1939 nickels. It is less common than the reverse of 1938 and can be very valuable when found in top condition.
1939 Doubled Monticello and Five Cents
Perhaps the most famous variety of the year is the 1939 doubled die reverse. On this coin, the words “Monticello” and “Five Cents” appear doubled, making it highly distinctive. This error occurred during the minting process and is considered one of the rarest and most valuable Jefferson nickel varieties.
The Role of Condition and Grading
Condition plays a huge role in the value of any collectible coin. A 1939 Jefferson nickel in circulated condition may only be worth a few dollars, but one in uncirculated condition with Full Steps can command staggering prices. Professional grading services such as PCGS (Professional Coin Grading Service) and NGC (Numismatic Guaranty Company) evaluate coins based on strike quality, surface preservation, luster, and eye appeal. The highest-graded examples of rare varieties are the ones that reach values as high as $350,000.
Record Prices and Auction Highlights
Rare examples of the 1939 Jefferson nickel have made headlines in the numismatic community. At auctions, collectors compete fiercely for well-preserved and rare varieties, driving prices to remarkable levels. Coins with Full Steps and clear doubling on the reverse have sold for tens of thousands of dollars, with the finest known specimens reaching the extraordinary figure of $350,000. Such sales highlight not only the rarity but also the passion collectors have for U.S. coinage.
How to Check If You Have One
Finding a rare coin requires careful examination. If you come across a 1939 nickel, here are some steps to follow:
- Check the Reverse Design – Determine whether it is the reverse of 1938 or reverse of 1940.
- Look for Doubling – Pay close attention to “Monticello” and “Five Cents” for any signs of doubling.
- Examine the Steps – The more complete and sharp the steps on Monticello, the more valuable the coin.
- Check Mint Marks – 1939 nickels were minted in Philadelphia (no mint mark), Denver (D), and San Francisco (S). Some mint marks can be rarer than others.
- Consider Professional Grading – If you believe you have a rare variety, sending it to a grading service can authenticate its value.
Why Collectors Value the 1939 Nickel
The Jefferson nickel series is still ongoing, and coins from its earliest years hold special significance. The 1939 nickel is treasured not only for its design variations and errors but also for its connection to American history. Collectors see these coins as pieces of art, symbols of craftsmanship, and tangible links to the past. Rare varieties, especially those preserved in excellent condition, represent the pinnacle of collecting within this series.
Conclusion
The 1939 Jefferson nickel is a perfect example of how something ordinary can turn out to be extraordinary. While millions were minted, only a handful carry the unique varieties, errors, and pristine conditions that make them worth a fortune. Whether it is the doubled die reverse, the reverse of 1940 with Full Steps, or simply a high-grade specimen, these coins have captured the imagination of collectors worldwide. With some valued as high as $350,000, the 1939 nickel proves that rare treasures can sometimes be found in the most unexpected places.
