How to Collect Jefferson Nickels

When the Buffalo nickel (minted in 1913 and one of the most beloved coins of all time) was nearing the end of its run in 1937, there was a growing sentiment to issue a coin to honor Thomas Jefferson. A contest was held and nearly 400 artists competed for the $1,000 prize which was offered to the winning designer. Felix Schlag emerged as the victor, and after a few modifications to his designs, production of the nickels started in September 1938. Interestingly enough, Mr. Schalg's initials were not added to his nickel until 1966!

The Jefferson nickel has had some metal composition and design changes since its appearance--yet to this day still remains a tribute to a man who did so much for his country. It's also an easy set to assemble since most of the modern issues can be found in pocket change!

Here are some things to look for when collecting Jefferson nickels.

Instructions

Difficulty: Moderately Easy

Things You’ll Need:

• A basic magnifying glass
• A good light source
• A Dansco or Whitman Jefferson nickel album
• A current copy of the "Red Book" of U.S. Coins

1. JEFFERSON NICKEL MINT MARKS
   
   
   1938 to 1942--Mint mark is to the right of the building on the reverse.
   
   1942 to 1945--An enlarged mint mark is above the dome on the reverse.
   
   1946 to 1967--Mint mark is to the right of the buliding on the reverse.
   
   1968 to 2003--Mint mark is to the right of Jefferson's ponytail (obverse)
   
   
   
   * A new design was introduced in 2004 to commemorate the Lewis & Clark expeditions.
2. KEY DATES
   
   
   Many of these coins were produced in huge quantities. Here are a few of the "keys" to the series:
   
   1938S; 1939D; 1943 to 1945 (all dates and mint marks), 1950D.
   
   
   
   * At one time the 1950D was considered a very rare coin and carried a premium. This has changed, as many more specimens of this date/mint mark have became available from old hordes.
3. PROOF ISSUES
   
   
   These were issued as collectibles. All of the older proofs (1938 to 1942) are very valuable. Minting of proof sets was discontinued in 1942 and resumed in 1950. After 1956 the value of proof issues dropped as larger quantities were minted. It is not necessary to include the proof coints when assembling the standard set.
4. RARITIES AND ERROR COINS
   
   
   As is the case with any series, there are always a few of these unusual or "error" releases. These are valuable only to those who collect them are not part of the standard set:
   
   
   1943P (3 over 2); 1949D (D over S); 1954S (S over D); 1955D (D over S)
   
   
   
   * Two limited edition "matte" proofs were issued in 1994 and 1997 by the Philadephia mint and are valued at $75 and $200 respectively.
5. LEWIS & CLARK COMMEMORATIVE SERIES 2004/2006
   
   
   A design change was approved to honor the Lewis & Clark expeditions. In 2004 there were two new reverse designs: The "handshake" and the "keelboat." In 2005 the new reverse side designs were the "bison" and the "ocean." In 2006 the Monticello design was restored to the reverse side and the obverse featured a "facing portrait" with the inscription "Liberty." 2007 saw the resumption of the original design. The overwhelming mintage of this new design lowers the value of any of the coins in the limited Lewis & Clark series.

Tips & Warnings

• Purchase Jefferson rolls from your local bank in order to accommodate collection of the series.
• Older (pre 1960) nickels may have to be purchased. These are relatively inexpensive and available online or from local dealers.
• Use the nickel coin album to help organize your collection.
• You do not need proof or error coins in order to complete your set.
• Do not store your coins in warm or humid places.
• Never purchase coins from a TV coin distributor or at a flea market.