Are you a coin collector or have you recently found a 1940 Jefferson nickel Worth and are wondering how much it’s worth? Whether you’re looking to buy or sell a coin, it’s important to know how to evaluate the value of a 1940 nickel. This article will provide you with the necessary information to understand the value of these coins, including key features, mint marks, and grading details. By the end, you’ll know how much your 1940 Jefferson nickel is worth and what makes certain coins more valuable than others.
1940 Nickel Value Chart
The value of a 1940 Jefferson nickel depends on its condition and mint mark. Here’s a quick overview of the value based on different conditions:
| Mint Mark | Good | Fine | Extremely Fine | Uncirculated |
|---|---|---|---|---|
| 1940 No Mint Mark | $0.10 | $0.10 | $0.25 | $100 |
| 1940 D Nickel | $0.10 | $0.20 | $0.50 | $125 |
| 1940 S Nickel | $0.10 | $0.20 | $0.60 | $175 |
| 1940 S (Proof) Nickel | – | – | – | $7,850 |
This table shows how the value increases with the coin’s condition, with the highest value being for uncirculated coins. The 1940 S (Proof) nickel is especially valuable, with a price of up to $7,850.
History of the 1940 Nickel
The Jefferson nickel Worth, which features the third president of the United States, Thomas Jefferson, was first introduced in 1938. It replaced the Buffalo nickel, which had been in circulation for 25 years but was difficult to produce. After a competition in 1938, the U.S. Mint selected Felix Schlag’s design, which featured Jefferson on the front and his home, Monticello, on the back.
In 1940, the Jefferson nickel Worth became widely circulated after being hoarded by collectors in previous years. The U.S. Mint made some improvements in the coin’s design, such as sharpening the Monticello staircase details, making it easier to identify Full Step versions, which are more valuable.
Features of the 1940 Nickel
Understanding the design features of a 1940 nickel is essential when evaluating its value. Let’s break down the key features of this coin:
The Obverse of the 1940 Nickel
The obverse (front) of the 1940 Jefferson nickel Worth shows a left-facing portrait of Thomas Jefferson. Along the rim on the left, you’ll find the motto “IN GOD WE TRUST,” and on the right, the word “LIBERTY” along with the date of minting. A star separates these two inscriptions.
The Reverse of the 1940 Nickel
The reverse (back) of the 1940 nickel features an image of Jefferson’s famous home, Monticello. The words “E PLURIBUS UNUM” are placed around the top rim, and “MONTICELLO” is written below the building. The word “FIVE CENTS” is also found near the bottom of the reverse. The mint mark, indicating where the coin was made (Philadelphia, Denver, or San Francisco), can be found on the right side of the Monticello image.
Other Important Features
The 1940 nickel is made from 75% copper and 25% nickel. It weighs 5 grams, has a diameter of 21.20 millimeters, and has a plain edge. The Mint struck these coins in Philadelphia, Denver, and San Francisco, and they are distinguished by their mint marks. Coins minted in Philadelphia do not have a mint mark, while coins minted in Denver and San Francisco have a “D” or “S” mint mark, respectively.
How to Grade Your 1940 Nickel
The grade of a coin refers to its condition, and this is one of the main factors that affect its value. Here’s how to grade a 1940 nickel:
- Good (G): The coin shows obvious signs of wear and tear, but the design is still visible.
- Fine (F): The coin has some wear, but the design details are still clear.
- Extremely Fine (EF): The coin has minimal wear, and the design details are nearly perfect.
- Uncirculated (MS): The coin shows no signs of wear, and it has a pristine appearance.
You can also look for Full Step nickels, which are more valuable. These coins have sharp details, particularly on the Monticello steps, and are considered more collectible.
Mint Marks and Their Impact on Value
The mint mark on a coin indicates where it was made. For the 1940 nickel, there are three key types:
- No Mint Mark: These coins were minted in Philadelphia, and they are the most common type.
- D Mint Mark: Coins with a “D” were minted in Denver.
- S Mint Mark: Coins with an “S” were minted in San Francisco.
Coins with a mint mark can be more valuable than those without, especially if they are in higher grades or have full steps.
1940 Nickel Value Guides
The 1940 Jefferson nickel is one of the most common coins from that era, but its value can still vary based on its condition and rarity. Here’s a breakdown of what you can expect for the different types of 1940 nickels:
1940 No Mint Mark Nickel Value
The Philadelphia mint produced the highest number of 1940 nickels, around 176 million coins. As a result, these coins are very common and typically worth only their face value unless they are in excellent condition. A 1940 No Mint Mark nickel in mint state (MS67) can be worth up to $100, while one with Full Steps can fetch as much as $2,150.
1940 D Nickel Value
The Denver mint produced around 43 million 1940 nickels, and these coins are known for their high quality and attractive luster. However, because of the large mintage, circulated coins are not particularly valuable. A 1940 D nickel in mint state (MS67) can be worth up to $125, with Full Step coins reaching higher values.
1940 S Nickel Value
The San Francisco mint produced fewer 1940 nickels, around 36 million, and these coins are considered to be of lower quality compared to those from Denver. Most of the 1940 S nickels have weak strikes and other issues. However, coins in mint state can still be worth a good amount, with Full Step versions being particularly valuable. A 1940 S Full Step nickel can be worth up to $1,250 in MS67.
Conclusion
The 1940 Jefferson nickel Worth is an important piece of American coinage, and its value can vary greatly depending on its condition, mint mark, and unique features. If you have a 1940 nickel, understanding these factors will help you determine its worth. Remember, coins in excellent condition, especially those with Full Steps, can fetch significant amounts of money. Whether you’re a collector or looking to sell, it’s important to grade your coin carefully and know what you have.
FAQs
1. What is the value of a 1940 Jefferson nickel?
The value of a 1940 Jefferson nickel depends on several factors, including its condition, mint mark, and whether it has any unique features like Full Steps. In general:
1940 No Mint Mark Nickel: $0.10 to $100
1940 D Nickel: $0.10 to $125
1940 S Nickel: $0.10 to $175
2. What are Full Steps on a 1940 nickel?
Full Steps refer to the clear, sharp details on the steps of Monticello, Thomas Jefferson’s home, which is featured on the reverse side of the nickel. Coins with Full Steps are considered more valuable because they represent a higher level of detail and quality in the minting process. Collectors often look for these sharp, well-defined steps, and they can significantly increase the value of the coin.
3. How can I tell if my 1940 nickel is uncirculated?
The design should be crisp and clear with no wear.
Jefferson’s hair should have visible frost, which is a sign of mint-state coins.
The areas above Jefferson’s eye, his collar, and shoulder should show no signs of wear.
On the reverse side, check the steps of Monticello for sharpness and clarity.