The 1938-D Jefferson Nickel holds a distinguished place in American numismatics, marking the inaugural year of the Jefferson nickel series and featuring a notable minting at the Denver Mint.
This coin not only signifies a pivotal transition in U.S. coinage but also offers collectors a glimpse into the early days of the Jefferson nickel series.
1938-D Jefferson Nickel
In 1938, the United States Mint introduced the Jefferson nickel, replacing the Buffalo nickel that had been in circulation since 1913.
Designed by artist Felix Schlag, the Jefferson nickel features a left-facing portrait of President Thomas Jefferson on the obverse and an image of his home, Monticello, on the reverse.
The 1938-D variety, minted at the Denver Mint, is particularly significant due to its lower mintage compared to other mints that year.
Design and Features
- Obverse: The obverse showcases a left-facing bust of President Thomas Jefferson, closely resembling the 1789 bust by sculptor Jean-Antoine Houdon. The inscriptions “IN GOD WE TRUST,” “LIBERTY,” and the year “1938” are present, with a small five-pointed star dividing “LIBERTY” and the date.
- Reverse: The reverse depicts a front view of Monticello, Jefferson’s estate in Virginia. The inscriptions include “E PLURIBUS UNUM,” “MONTICELLO,” “UNITED STATES OF AMERICA,” and “FIVE CENTS.” The mint mark “D” is located to the right of Monticello, indicating it was minted in Denver.
Mintage and Rarity
The 1938-D Jefferson Nickel had a mintage of 5,376,000 coins. While this number is relatively high, the coin is considered a semi-key date due to its lower mintage compared to other years in the series.
High-grade examples, especially those with full steps on Monticello, are particularly sought after by collectors.
Value and Collectibility
In circulated condition, the 1938-D Jefferson Nickel is generally valued at around $1.22.
Uncirculated examples can command higher prices, with values ranging from $8.45 to $18 or more, depending on the grade.
Coins with full steps on Monticello are especially valuable, as they are rare and highly desired by collectors.
Grading and Certification
The quality of a coin is assessed through grading, which evaluates its condition based on factors like wear, luster, and strike quality.
Professional grading services, such as the Professional Coin Grading Service (PCGS), assign grades to coins, providing a standardized assessment that aids in determining value and authenticity.
Historical Significance
The introduction of the Jefferson nickel in 1938 marked a significant change in U.S. coinage, replacing the Buffalo nickel that had been in circulation since 1913.
The design, featuring Jefferson and Monticello, reflects the nation’s heritage and pays homage to one of its Founding Fathers.
The 1938-D Jefferson Nickel stands as a landmark in American numismatics, representing a pivotal moment in the nation’s coinage history.
Its unique design, lower mintage, and the historical context of its introduction make it a prized possession for collectors and a testament to the rich heritage of U.S. currency.
FAQs
What is the significance of the 1938-D Jefferson Nickel?
The 1938-D Jefferson Nickel is significant as it marks the first year of the Jefferson nickel series and was minted at the Denver Mint, making it a semi-key date due to its lower mintage.
How can I determine the value of my 1938-D Jefferson Nickel?
The value depends on the coin’s condition. Circulated coins are generally worth around $1.22, while uncirculated examples can range from $8.45 to $18 or more. Coins with full steps on Monticello are especially valuable.
What does ‘full steps’ mean in coin grading?
‘Full steps’ refers to the clarity and completeness of the steps on the reverse of the Jefferson nickel, which are part of the Monticello design. Coins with fully visible steps are considered higher quality and more valuable.