1940 Jefferson Nickel
The 1940 Jefferson Nickel is a five-cent coin issued by the United States Mint, part of the Jefferson Nickel series introduced in 1938 to replace the Buffalo Nickel. It features President Thomas Jefferson on the obverse and his home, Monticello, on the reverse. Designed by Felix Schlag, it is composed of 75% copper and 25% nickel and does not include the wartime silver alloy used in later years.
In 1940, these nickels were minted in Philadelphia (no mint mark), Denver (D), and San Francisco (S). While common in circulated grades, they can hold collector value in uncirculated conditions, especially with "Full Steps" on the Monticello or rare errors like off-center strikes or repunched mint marks. Proof versions from 1940 are also collectible due to their limited production.
The 1940 Jefferson Nickel had an even larger mintage than the previous issue date from the Philadelphia Mint. With a mintage of over 176 million coins struck, it is very common in almost all circulated and uncirculated Mint State grades, in non-Full Step and Full Step versions up to about Mint State 69 which is pretty close to a perfect strike. Due to the commonness of the coin, it can also be found at affordable prices for even the most attractive of 1940 Jefferson Nickels.
History of the 1940 Jefferson Nickel
The 1940 Jefferson Nickel is worth cherrypicking to find a coin that is well struck with great overall eye appeal. The Jefferson Nickel was designed by Felix Schlag. It is still in circulation today, although the designs have changed somewhat over the years. The obverse of the coin features a left-facing portrait of Thomas Jefferson’s head and the reverse showcases his Monticello home. The coins that feature the “Full Step” show a full and clearly detailed strike on the stairs leading up to his home. These Full Step varieties typically command a higher price.
1940 Jefferson Nickel Value
As of 2025, the value of 1940 Jefferson Nickels varies depending on their condition, mint mark, and any rare features or errors. The value of a 1940 Jefferson Nickel ranges from $0.10 to $0.40 in circulated condition, depending on the mint mark (Philadelphia, Denver, or San Francisco). Uncirculated coins can fetch between $1.50 and $20, with those showing "Full Steps" details on Monticello commanding premiums of over $100. Proof coins, minted in Philadelphia, are more valuable, typically worth $25 to $75. Condition, mint mark, and rarity of features like "Full Steps" significantly influence the coin's worth.
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Circulated Coins:
- Generally worth $0.10 to $1.80 depending on wear and mint location (Philadelphia, Denver, or San Francisco)
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Uncirculated Coins:
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Proof Coins:
- Proof coins from 1940, with a mintage of only 14,158, can be worth $25 for lower grades, rising to $7,950 or more in exceptional grades like PF68. The highest recorded auction for a PF68 proof was $18,400
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Error Coins:
- Errors like off-center strikes, repunched mint marks, or Full Steps on the Monticello can significantly increase value. For instance, a 1940 Full Steps nickel has sold for over $21,000
- The rare "Reverse 1938" error, combining a 1940 obverse with a 1938 reverse die, has fetched up to $25,000 in top mint-state grades
- Errors like off-center strikes, repunched mint marks, or Full Steps on the Monticello can significantly increase value. For instance, a 1940 Full Steps nickel has sold for over $21,000
For a precise valuation of your 1940 nickel, consider professional grading and certification, especially for coins with unique characteristics.
Type of coin: Nickel
Year: 1940 Jefferson Nickel
Jefferson Nickel Mint Mark: Philadelphia
Total mintage: 176,485,000
Metal content: 75% Copper, 25% Nickel
Face value: 5 Cents
Weight: 5.00 grams
Edge: Plain
Designer: Felix Schlag
Diameter: 21.20 millimeters