The 1938-D Jefferson Nickel holds a unique position in U.S. coin history, as it was the first coin in the Jefferson Nickel series.
Minted in Denver, this coin replaced the Buffalo Nickel and marked a new era in American currency. Due to its limited mintage and historical importance, it is highly sought after by collectors and enthusiasts alike.
The Jefferson Nickel
In 1938, the U.S. Mint introduced the Jefferson Nickel to replace the Buffalo Nickel, which had been in circulation since 1913. The Mint held a public design contest, which was won by Felix Schlag. His design featured a left-facing portrait of Thomas Jefferson on the obverse and his historic home, Monticello, on the reverse.
This design was a significant departure from the previous coin’s western frontier theme, instead celebrating America’s founding fathers and their contributions to the nation’s heritage.
Key Specifications of the 1938-D Jefferson Nickel
| Category | Details |
|---|---|
| Coin Name | 1938-D Jefferson Nickel |
| Mint & Mintage | Denver Mint (D), 5,376,000 coins struck |
| Composition | 75% Copper, 25% Nickel |
| Weight & Diameter | 5.00 grams, 21.2 mm |
| Obverse Design | Thomas Jefferson’s portrait with “IN GOD WE TRUST” and “LIBERTY” |
| Reverse Design | Monticello (Jefferson’s home), inscribed with “UNITED STATES OF AMERICA” and “FIVE CENTS” |
| Historical Significance | First-year issue of the Jefferson Nickel, replacing the Buffalo Nickel |
| Rarity | Considered scarce, especially in high grades due to low mintage |
| Collector Appeal | A must-have for Jefferson Nickel collectors due to its historic importance and design |
| Legacy | Symbolizes the transition in U.S. coinage and the celebration of America’s founding fathers |
Why the 1938-D Jefferson Nickel is a Key Collector’s Item
The 1938-D Jefferson Nickel is especially significant because it was the first year of the Jefferson Nickel series and was exclusively minted at the Denver Mint. This makes it a crucial piece for collectors looking to complete a full set of Jefferson Nickels.
Although the Philadelphia Mint produced over 19 million Jefferson Nickels that year, the Denver Mint’s output was significantly lower, at just 5,376,000 coins. This lower mintage makes the 1938-D a scarce and desirable coin, particularly in higher grades.
How Rare is the 1938-D Jefferson Nickel?
While not the rarest coin in the series, the 1938-D Jefferson Nickel is considered scarce, especially in mint condition. Many of these coins were widely circulated, making well-preserved specimens difficult to find.
Collectors especially seek out versions with Full Steps (FS) on Monticello, which indicates that the fine details of the building’s steps are fully visible. These FS varieties fetch significantly higher prices in the numismatic market.
Value of the 1938-D Jefferson Nickel
The value of a 1938-D Jefferson Nickel depends primarily on its condition:
- Circulated Coins: Affordable and accessible to most collectors.
- Uncirculated Coins (Mint State): More expensive, especially those graded MS-65 or higher.
- Full Steps (FS) Variety: Commands the highest premiums, with well-preserved specimens selling for hundreds to thousands of dollars at auctions.
The rarity and condition of the coin greatly influence its price, making well-preserved versions particularly valuable.
FAQs
What makes the 1938-D Jefferson Nickel special?
The 1938-D Jefferson Nickel is significant as the first coin in the Jefferson Nickel series and was minted in lower quantities compared to the Philadelphia Mint version.
How rare is the 1938-D Jefferson Nickel?
While not the rarest in the series, its low mintage and the challenge of finding high-grade examples make it a valuable collector’s item.
How much is a 1938-D Jefferson Nickel worth?
The value varies based on its condition, with circulated coins being affordable but uncirculated and Full Steps (FS) varieties commanding high premiums.