1938 Jefferson Nickel

1938 | P | Mintage: 109,056,025 | 75% Copper, 25% Nickel

$3.5 – $2,275 Key Date

Obverse

Reverse

The 1938 Jefferson Nickel was minted at the Philadelphia Mint with a mintage of 109,056,025. Values range from $3.5 in lower grades to $2,275 in top condition. This is a key date, making it especially sought-after by collectors.

CoinValueDB Value Estimate

$2.40 – $2,275

Price History

SoldHigh BidFor SaleLast Asking PriceMoving Average

Avg: $266 High: $2,275 Low: $2 11 total data points

CoinValueDB Price Guide by Grade

CoinValueDB Price Guide by Grade
Grade	Value
Good (G-4)	$4
Very Good (VG-8)	$7
Fine (F-12)	$9
Very Fine (VF-20)	$13
Extremely Fine (EF-40)	$18
About Uncirculated (AU-50)	$38
Mint State (MS-60)	$57
Choice Mint State (MS-63)	$150
Gem Mint State (MS-65)	$355
Superb Gem+ (MS-67)	$2,275

About the Jefferson Nickel

The Jefferson Nickel replaced the Buffalo Nickel in 1938. The Treasury Department held a public competition for the new design and awarded the $1,000 prize to Felix Schlag. His design features Thomas Jefferson on the obverse and his home, Monticello, on the reverse. The United States Mint struck the first coins for circulation on November 15, 1938. Changes occurred over the decades. The Mint added the designer's initials to the obverse in 1966. In 2004 and 2005, the Mint issued the Westward Journey series to commemorate the bicentennial of the Lewis and Clark expedition. These coins featured new reverse designs, including the Peace Medal and the Keelboat. The Mint returned to the original Monticello reverse in 2006 but updated the portrait of Jefferson to a forward-facing design by Jamie Franki.

Coin Details

Designer: James Earle Fraser
Composition: 75% Copper, 25% Nickel
Weight: 5
Diameter: 21.21
Edge: Plain
Series: Jefferson Nickel (1938-present)

Collecting Jefferson Nickel Coins

Focus your collection on the Jefferson Nickel series by looking for the 1938-1964 date range first, as these are easy to find in circulation. Look for the 1942-1945 'War Nickels' which contain 35% silver and feature a large mint mark above Monticello. Watch for wear on the steps of Monticello, as collectors pay a premium for Full Steps examples. Avoid coins with heavy corrosion or scratches, as these hold no numismatic value. You should buy a folder for your coins to keep them organized by date and mint mark.

This series includes key dates — check individual coin pages for rarity details.

Frequently Asked Questions

What is a 1938 Jefferson Nickel worth? +

A 1938 Jefferson Nickel is worth between $3.5 and $2,275 depending on condition. Coins in higher grades (MS-65 and above) command significant premiums.

How many 1938 Jefferson Nickel coins were made? +

The Philadelphia Mint produced 109,056,025 1938 Jefferson Nickel coins. Lower mintage numbers generally correlate with higher collector value.

Is the 1938 Jefferson Nickel a key date? +

Yes, the 1938 Jefferson Nickel is considered a key date in the Jefferson Nickel series. Key dates are coins with low mintage, high collector demand, or both, making them among the most valuable in the series.

How much is a 1938 Jefferson Nickel worth? +

Most circulated 1938 Jefferson Nickels are worth their face value of 5 cents. In uncirculated condition, the coin typically sells for between $5 and $15 depending on the specific grade.

Is the 1938 Jefferson Nickel considered a rare coin? +

The 1938 Philadelphia Jefferson Nickel is not rare due to its high mintage of over 109 million. However, the 1938-D and 1938-S mintages are significantly lower and hold higher collector value.