Have you ever wondered if that loose change jingling in your pocket could be worth more than you think? Well, get ready for a surprise, because some of those ordinary-looking nickels from 1939 could be worth thousands or even hundreds of thousands of dollars! That’s right, certain rare varieties of the 1939 Jefferson Nickel are still in circulation and could fetch up to $350,000 at auction. It’s like finding a winning lottery ticket hiding in plain sight.
In this article, we’ll dive into the fascinating world of rare 1939 Jefferson Nickels, exploring the top 5 varieties that could make you rich. We’ll look at what makes these coins so valuable, how to identify them, and why they’re still circulating after all these years. So, grab that jar of loose change and let’s start our treasure hunt!
The 1939 Jefferson Nickel: A Brief History
Before we get into the rare varieties, let’s take a quick trip back to 1939. The Jefferson Nickel had just been introduced the year before, replacing the beloved Buffalo Nickel. Designed by Felix Schlag, the new coin featured Thomas Jefferson’s profile on the obverse and his home, Monticello, on the reverse.
Little did the U.S. Mint know that some of the coins they produced that year would become highly sought-after rarities. It’s like they accidentally sprinkled a bit of numismatic magic dust on a few of those nickels!
Why Are Some 1939 Nickels So Valuable?
The value of these rare nickels comes down to a few key factors:
- Minting errors
- Low mintage numbers
- Exceptional preservation
- Unique design variations
It’s a perfect storm of numismatic factors that turns these five-cent pieces into five-figure (or more) treasures.
Top 5 Rare 1939 Jefferson Nickels Still in Circulation
Now, let’s get to the good stuff. Here are the top 5 rare 1939 Jefferson Nickels that could be hiding in your spare change:
1. 1939 Doubled Monticello Jefferson Nickel
This is the crown jewel of 1939 Jefferson Nickels. The Doubled Monticello error occurs when the die strikes the coin twice, slightly out of alignment, creating a ghostly double image of Monticello on the reverse.
Value: Up to $350,000 for a pristine specimen
How to Spot It: Look closely at the Monticello image on the reverse. If you see doubling in the pillars, steps, or “MONTICELLO” text, you might have hit the jackpot!
2. 1939 Reverse of 1938 Full Steps Nickel
This variety features the original 1938 reverse design, which had slightly curved steps on Monticello. The “Full Steps” designation means all six steps are clearly visible, which is rare for this year.
Value: Up to $5,000 in top condition
How to Spot It: Check the steps on Monticello. If you can see all six steps clearly and they have a slight curve, you might have this valuable variety.
3. 1939-D Reverse of 1940 Full Steps Nickel
This Denver Mint coin features the updated 1940 reverse design (with straighter steps) paired with the 1939 obverse. The Full Steps designation adds significant value.
Value: Up to $27,500 in pristine condition
How to Spot It: Look for the “D” mint mark under the Monticello on the reverse. If the steps are straight and all visible, you’ve got a winner.
4. 1939-S Reverse of 1940 Full Steps Nickel
Similar to the Denver version, this San Francisco Mint coin combines the 1939 obverse with the 1940 reverse design. Again, the Full Steps feature is key to its value.
Value: Up to $8,500 in top grade
How to Spot It: Check for the “S” mint mark and straight, fully visible steps on Monticello.
5. 1939 Proof Reverse of 1940 Nickel
This is a specially struck collector’s version featuring the 1940 reverse design. It’s extremely rare and valuable in high grades.
Value: Up to $14,500 in perfect condition
How to Spot It: Proof coins have a mirror-like finish and sharp details. Look for no mint mark and the 1940-style straight steps on Monticello.
How to Identify Valuable 1939 Jefferson Nickels
Now that you know what to look for, here are some tips to help you identify these rare coins:
- Use a magnifying glass: Many of the valuable features are small and require close inspection.
- Check the date and mint mark: Make sure you’re looking at a 1939 nickel, and note whether it has a “D” or “S” mint mark (or no mint mark for Philadelphia).
- Examine Monticello closely: Look for doubling, step clarity, and whether the steps are curved (1938 style) or straight (1940 style).
- Assess the overall condition: The most valuable coins are those in the best condition, known as “mint state” in collector terms.
- Compare to known examples: Use online resources or coin collecting guides to compare your find to authenticated rare varieties.
Remember, it’s like being a numismatic detective – attention to detail is key!
Why Are These Rare Coins Still in Circulation?
You might be wondering, “If these coins are so valuable, why haven’t they all been snatched up?” It’s a great question! There are a few reasons:
- Rarity: These varieties are extremely rare, so the chances of finding one are slim.
- Lack of awareness: Many people don’t know these valuable varieties exist.
- Condition issues: Circulated coins often show wear, making it harder to spot valuable features.
- Mistaken identity: Some may have been misidentified as common 1939 nickels.
It’s like finding a needle in a haystack, but that needle could be worth thousands!
Value Table for Rare 1939 Jefferson Nickels
Here’s a quick reference table for the values of these rare nickels:
| Coin Variety | Condition | Estimated Value |
|---|---|---|
| 1939 Doubled Monticello | MS-67 | $350,000 |
| 1939 Reverse of 1938 Full Steps | MS-67+ | $5,000 |
| 1939-D Reverse of 1940 Full Steps | MS-68 | $27,500 |
| 1939-S Reverse of 1940 Full Steps | MS-67 | $8,500 |
| 1939 Proof Reverse of 1940 | PR-68 | $14,500 |
Conclusion
The world of rare coins is full of surprises, and the 1939 Jefferson Nickel is a perfect example. Who would have thought that a humble five-cent piece could be worth hundreds of thousands of dollars? These rare varieties are like hidden treasures, waiting to be discovered by sharp-eyed collectors or lucky individuals.
While the chances of finding one of these rare nickels in your pocket change are slim, it’s not impossible. The next time you’re sorting through your coins, take a closer look at those 1939 Jefferson Nickels. You never know – you might just be holding a small fortune in your hand!
Remember, coin collecting is not just about the potential financial gain. It’s a hobby that connects us to history, art, and the thrill of discovery. So even if you don’t find that $350,000 nickel, you might just discover a new passion.
FAQs About Rare 1939 Jefferson Nickels
1. How can I tell if my 1939 Jefferson Nickel is valuable? Look for signs of doubling on Monticello, check the clarity of the steps, and examine whether the steps are curved (1938 style) or straight (1940 style). Use a magnifying glass for best results.
2. Should I clean my old nickels to see the details better? No! Cleaning can significantly reduce a coin’s value. If you think you have a valuable coin, consult a professional numismatist before doing anything.
3. Are all 1939 Jefferson Nickels valuable? No, most 1939 nickels are worth only face value or slightly more. The rare varieties we’ve discussed are exceptions and are extremely uncommon.
4. Where can I get my 1939 Jefferson Nickel appraised? Consider taking it to a reputable coin dealer or having it evaluated by a professional grading service like PCGS or NGC.
5. Is it legal to keep valuable coins I find in circulation? Yes, it’s perfectly legal to keep any coins you find in circulation, regardless of their potential value. Happy hunting!