1938 Jefferson Nickel

The 1938 Jefferson Nickel had a total mintage of over 19 million coins struck at the Philadelphia Mint. This was the first year this coin was produced and has one of the higher mintages in the series. It had such a high mintage to meet demand and is still relatively easy for collectors to find today in lower Mint State grades. Although many are available, likely due to the high mintage, this coin was released into circulation. The highest grades usually found are Mint State 63, and Full Step versions, ones with clearly struck steps on the Monticello building on the reverse, can be found up to MS67.

History of the 1938 Jefferson Nickel

The 1938 Jefferson Nickel is worthwhile to cherrypick for a sharply struck coin with attractive surfaces. This coin was designed by Felix Schlag who won a design competition for this coin. The Jefferson Nickel replaced the Buffalo Nickel and is still in production today. It was believed that these earlier coins were hoarded when first released and weren’t seen in circulation until around 1940. The obverse of the coin features a left-facing profile of Thomas Jefferson. The reverse shows his Monticello home.