What Year Nickels Are Worth Money & How to Spot Them

Many nickels can hold a value far exceeding their face worth. Certain nickels possess characteristics that make them highly sought after by collectors. Understanding these attributes can lead to significant discoveries.

Factors Influencing Nickel Value

A nickel’s market value depends on several factors. Mintage figures, the total number of coins produced, directly impact scarcity; lower numbers generally mean higher values. Survival rates also contribute to rarity, as many older coins were lost, melted, or worn.

A coin’s physical condition, or grade, determines its worth. Coins with minimal wear, retaining original luster and design details, command higher prices than heavily circulated ones. Mint marks, letters indicating the production facility (e.g., “D” for Denver, “S” for San Francisco, “P” for Philadelphia), also affect value, as some mints produced fewer coins or unique varieties.

Coin errors and varieties represent deviations from the standard minting process. Errors include double dies, where the coin’s design appears duplicated, or off-center strikes, where the image is not perfectly aligned. Varieties, such as overdates or repunched mint marks, involve alterations to the dies themselves, leading to distinct features. The coin’s material composition can also influence value, particularly for historical issues like silver wartime nickels.

Valuable Nickel Series and Key Dates

The Shield Nickel series (1866-1883) was the first five-cent piece made of copper-nickel. Key dates include the 1877 and 1878 issues, primarily produced as proof coins, making circulated examples rare. Other dates like the 1879, 1880, and 1881 are valuable due to low mintage.

The 1866 “No Rays” and 1867 “With Rays” varieties are notable. An 1883 “3 Over 2” variety exists, where the numeral “3” is struck over an underlying “2” in the date.

The Liberty Head, or “V” Nickel (1883-1912), succeeded the Shield Nickel. The 1883 “No Cents” type lacked the word “CENTS” on the reverse, leading to gold-plated instances passed off as five-dollar gold pieces. The Mint quickly added “CENTS” later in 1883, creating the “With Cents” variety.

Key dates include the 1885 and 1886 issues, both with low mintages, and the 1912-S, with a limited mintage of just 238,000 coins from the San Francisco Mint. The 1913 issue is extremely rare, with only five pieces known to exist, commanding values often in the millions.

Buffalo Nickels (1913-1938) feature iconic Native American and bison designs. The 1913 Type 2 is distinguishable by the “FIVE CENTS” denomination being recessed below the buffalo, rather than on a raised mound as in Type 1.

Errors include the 1916 Doubled Die Obverse and the 1918-D 8 over 7. The 1937-D “3-Legged” Buffalo Nickel is a well-known error from a die over-polishing, which removed one of the buffalo’s front legs. Low mintage issues like the 1921-S, 1924-S, and 1926-S are sought after.

The Jefferson Nickel, issued in 1938 and still in production, has valuable dates and varieties. Key dates include the 1939-D, 1939-S, and 1950-D, with the 1950-D being particularly scarce due to its low mintage of just over 2.5 million.

During World War II (1942-1945), nickels were struck with a composition of 35% silver, 56% copper, and 9% manganese to conserve nickel. These “Silver War Nickels” are identifiable by a large mint mark (P, D, or S) above Monticello on the reverse, a feature not found on other Jefferson Nickels.

Errors include the 1939 Doubled Monticello, the 1943-P 3 over 2 overdate, and the 1943-P Doubled Eye. Modern errors, such as the 2005-D “Speared Bison” from the Westward Journey series, show a die gouge appearing as a spear through the bison’s back.

Identifying Specific Features

Locating mint marks is a primary step in identifying valuable nickels.

• Buffalo Nickels: Mint mark (D or S) on the reverse, below “FIVE CENTS”.
• Jefferson Nickels: Placement varied: 1938-1964 on the reverse right of Monticello; 1942-1945 wartime large mint mark (P, D, or S) above Monticello’s dome; after 1968 on the obverse, below the date.
• Liberty Head Nickels (1912 only): Mint mark (D or S) left of the date.
• Shield Nickels: No mint marks.

Identifying errors and varieties requires magnification. A jeweler’s loupe or strong magnifying glass (5x to 10x power) reveals subtle details. For doubled dies, look for overlapping or distorted elements.

Overdates show remnants of an earlier date. Die breaks or gouges appear as missing or altered portions. Compare a suspected error coin with known examples to confirm anomalies. Always hold coins by their edges to avoid transferring oils, which can damage the surface.

Assessing Condition and Market Worth

Assessing a valuable nickel’s condition is important, directly impacting its market worth. Coin grading uses the 70-point Sheldon Scale, where 1 is heavily worn and 70 is flawless. Terms like “Good” (G), “Fine” (F), “Very Fine” (VF), “Extremely Fine” (EF), and “Uncirculated” (MS) describe wear levels. A coin’s grade considers strike sharpness, original luster, and absence of scratches or contact marks. Slight differences in grade can lead to substantial value differences, especially for rare issues.

To determine current market worth, consult reputable coin price guides and online resources. The “Red Book” (A Guide Book of United States Coins) is a widely used physical reference. Online price guides from professional grading services like PCGS and NGC offer updated values based on recent sales and market trends, providing values for various grades.

For high-value or rare nickels, professional grading from services like PCGS or NGC is recommended. These services authenticate coins, assign an impartial grade, and encapsulate them in protective holders. While grading involves a fee, typically $20 to $50 per coin, it can significantly increase the coin’s market value and protect its condition. Coin values can fluctuate based on collector demand, economic conditions, and the overall numismatic market.