1964 Nickel
The 1964 Nickel, also known as the Jefferson Nickel, features a portrait of Thomas Jefferson on the obverse and Monticello, his Virginia estate, on the reverse. Collectors often seek out 1964 nickels in uncirculated condition or with full steps on Monticello for their collections. These characteristics can increase the coin's value beyond its face value. Continue reading to learn more about 1964 nickel value.
The 1964 Nickel is a standard issue Jefferson Nickel minted in the United States. It features Thomas Jefferson on the obverse and his Monticello home on the reverse. Made from a copper-nickel alloy, it does not contain silver. The 1964 Nickel is relatively common and is valued primarily based on its condition. In general, it is worth face value in circulated condition, with higher values for coins in uncirculated or mint-state condition, or those with rare errors.
Image source: PCGS
AUCTION RECORD: $9,700 • PCGS Genuine
1964 Nickel Varieties and Features
The 1964 Jefferson Nickel, designed by Felix Schlag, features a portrait of Thomas Jefferson on the obverse, inspired by Jean-Antoine Houdon's famous bust of the former president. The reverse showcases the Monticello estate, Jefferson's home, with intricate architectural details. These nickels were produced at both the Philadelphia Mint (no mintmark) and the Denver Mint (marked with a small "D" mintmark). With a composition of a nickel outer layer over a copper core, the coin has a distinct metallic appearance, and 1964 was a year of high mintage, leading to many surviving coins in circulation.
Collectors pay special attention to varieties like the Full Steps designation, which refers to the sharpness and clarity of the steps on Monticello's image. A coin with all six steps visible in high relief can command a premium, as this detail is often lost in the minting process. The 1964 nickels, with their vast mintage from both mints, can exhibit subtle differences in strike quality, making the presence of strong features like Full Steps and lack of wear particularly desirable for collectors.
1964 Nickel Value
The value of a 1964 nickel can range from its face value of 5 cents to several dollars, depending on its condition and rarity. Uncirculated or high-grade examples, particularly those with full steps on Monticello, can be worth significantly more. Additionally, error coins from 1964, such as those with double die obverses or reverses, are highly sought after and can command higher prices from collectors.
1964 Nickel Value: What Influences Its Worth?
The 1964 Jefferson Nickel is a popular coin among collectors, partly due to its high mintage and its place in U.S. numismatic history. While most 1964 nickels are worth only face value, certain factors like mint marks, condition, and special features can elevate their value. Here's a guide to what makes a 1964 nickel more valuable.
1. Mint Marks: Denver and Philadelphia Mint
In 1964, Jefferson nickels were produced at both the Philadelphia Mint and the Denver Mint. Coins from the Denver Mint bear a small "D" mint mark on the reverse, to the right of Monticello. Philadelphia-minted coins have no mint mark for 1964.
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Denver Mint ("D" Mint Mark): Some 1964 nickels with the "D" mint mark may hold a premium, especially if they are in high-grade or have specific features like full steps (discussed below).
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Philadelphia Mint (No Mint Mark): While more common, Philadelphia-minted 1964 nickels can still hold value if they are in pristine condition or feature notable mint errors.
2. Coin Condition: Circulated vs. Uncirculated
The condition of a 1964 nickel significantly affects its value. Coins are graded on the coin grading scale, which ranges from Poor (P-1) to Mint State (MS-70).
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Circulated Condition: Most 1964 nickels found in circulation will have wear and tear, making them worth only face value. However, some well-preserved circulated nickels may still hold a small premium if they are free of major blemishes.
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Uncirculated Condition: Uncirculated condition coins, especially those graded by the Professional Coin Grading Service (PCGS) or Numismatic Guaranty Corporation (NGC), are more valuable. Mint State (MS)nickels, particularly in MS-65 or higher, are desirable to collectors due to their luster and sharp details.
3. Full Steps Nickels
One of the most important features collectors look for on a 1964 Jefferson Nickel is the Full Steps (FS) designation. Full Steps refers to the clarity and sharpness of the steps on Monticello, located on the reverse of the coin.
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To qualify for Full Steps, all five or six steps leading up to Monticello must be completely visible and unbroken. This feature is rare because it is easily worn down during circulation or struck poorly at the mint.
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Full Steps nickels in uncirculated condition are much more valuable, with prices ranging significantly higher than non-Full Steps coins in the same grade. For example, a 1964 nickel with a "D" mint mark and Full Steps in MS-65 could sell for several hundred dollars.
4. Mint Errors
Like many coins from this era, 1964 nickels are known to have several mint errors, which can greatly enhance their value. Some common errors to watch for include:
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Off-Center Strikes: If the coin's design is struck off-center, leaving part of the surface blank, it can be quite valuable, especially if the date is still visible.
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Die Cracks: Cracks or breaks in the die used to mint the coin can leave raised lines on the nickel, adding to its collectible value.
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Struck-Through Errors: These occur when foreign objects, like grease or debris, are present on the die, causing the coin to have missing or faded design details.
Rare Errors and Special Strikes
Rare errors and special strikes in 1964 nickels can make certain coins highly valuable and sought after by collectors. Some notable errors include the 1964 broadstruck nickel, where the coin’s rim is incomplete due to being struck outside the collar during the minting process, and the 1964 four strikes and three off-center nickel, which exhibits multiple strikes misaligned from the coin’s center. Other rare varieties include the late brockage error, where part of the design from one side is imprinted on the other, and the 1964 nickel struck on a 10-centavo coin, a dramatic error resulting from using a foreign planchet. These errors can significantly increase a nickel's value, especially when combined with clear details and minimal wear.
Additionally, certain special strike 1964 nickels are also highly prized. These coins were made using specially polished dies and have a satin-like finish, making them stand out from standard issues. Double die obverses and double die reverses—where the design is doubled due to a misalignment in the die—are another variety that draws attention from collectors. These errors and special strike features, when graded high on the coin-grading scale, can dramatically boost the coin's worth and make them rare finds in the numismatic market.
5. Material: Copper-Nickel Alloy
The 1964 nickel is made from a copper-nickel alloy (75% copper, 25% nickel). Unlike earlier Jefferson nickels, which were made of silver during World War II, the 1964 nickel's composition does not contain any precious metal, meaning its intrinsic metal value remains low. However, its numismatic value can be much higher depending on its condition and features.
6. Proof-Like Features
Some 1964 nickels, especially those struck from highly polished dies, exhibit proof-like features, even though they were not struck as official proof coins. These coins have mirror-like surfaces and can be worth more, particularly when in high grades.
7. Auction Sales and Certification
Nickels from 1964 that are in exceptional condition, have Full Steps, or display notable mint errors are often sold at auctions, where collectors are willing to pay a premium. Coins that have been certified by professional grading services like PCGS or NGC are more desirable in the marketplace, as the certification guarantees their authenticity and grade.
Grading and Condition Assessment
Grading and condition assessment play a key role in determining the value of a 1964 nickel, with coins in higher grades generally commanding higher prices. Using the Sheldon Coin Grading Scale, collectors evaluate coins from Mint State (MS), which shows no wear and retains its original luster, to Extremely Fine (XF), where slight wear appears on high relief areas, like facial features. Factors like eye appeal, the coin's surface quality, and any noticeable mint errors can influence grading. Professional services like NGC and PCGS provide expert certification, ensuring accurate assessment of a coin’s condition.
History of the 1964 Jefferson Nickel
The 1964 Jefferson Nickel is a fun coin to search for because of its high mintage. This gives collectors the opportunity to really pick and choose what kind of coin they want as well as haggle for the price they’re willing to pay. Although that is true for most of the coins in the series, there are some reserved for serious collectors that are very scarce and command a premium. The original designs of the Jefferson Nickel were chosen during a competition. Felix Schlag won that competition and his coin featured a left-facing profile of Thomas Jefferson’s head on the obverse, and his Monticello plantation home on the reverse. This coin is still in production today, although the designs changed somewhat in later years.
Most Valuable 1964 Jefferson Nickels
The 1964 Jefferson Nickel value ranges from around $630 to upwards of $14,000 for the highest grades of the coin in both Mint State and with the Full Step distinction. Typically, the Full Step versions cost more due to them being more sharply struck, and often scarce because of the poor strike qualities during these years. The 1964 Jefferson Nickel would make an excellent addition to any Jefferson Nickel series collection.
Type of coin: Nickel
Year: 1964 Jefferson Nickel
Jefferson Nickel Mint Mark: Philadelphia
Total mintage: 1,024,672,000
Metal content: 75% Copper, 25% Nickel
Face value: 5 Cents
Weight: 5.00 grams
Edge: Plain
Designer: Felix Schlag
Diameter: 21.20 millimeters
Buying and Selling 1964 Nickels: A Guide for Collectors
When it comes to buying and selling 1964 Jefferson Nickels, understanding the coin's value and market dynamics is key. While most 1964 nickels are common and have minimal value beyond face value, certain factors like mint errors, high grades, and Full Steps can make them valuable to collectors. This guide explores the best practices for buying and selling these nickels.
Where to Buy 1964 Nickels
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Online Coin Selling Sites: Websites like Bullion Shark are popular platforms for buying 1964 nickels. These sites often have listings for both individual coins and bulk lots, allowing buyers to choose between affordable circulated nickels or high-grade, certified pieces.
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Auctions: Participating in auctions is a great way to acquire rare or high-quality 1964 nickels, especially those with Full Steps or mint errors. Some of the most valuable nickels can be found at online coin auctions at Bullion Shark.
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Coin Dealers and Shows: Visiting local coin dealers or attending coin shows is another way to purchase 1964 nickels. Dealers may offer a wide selection, from circulated coins to rare varieties. Shows also allow you to inspect coins in person before buying, which can be crucial when purchasing high-value pieces.
Where to Sell 1964 Nickels
Online Platforms: Selling 1964 nickels to online coin selling sites like Bullion Shark can provide sellers a hassle free experience. If you have valuable or rare 1964 nickels, selling them to professional coin dealers can be a convenient option. Dealers will typically evaluate your coin’s condition, mint mark, and rarity, and offer you a price based on current market trends. However, be aware that dealers may offer less than retail prices since they also need to make a profit.
FAQ
1. What is the value of a 1964 nickel?
The value of a 1964 Nickel is generally around face value, $0.05, in circulated condition. Uncirculated examples may be worth $1 to $5, depending on their condition. Since the 1964 Nickel is made from a standard copper-nickel alloy and not silver, its value is not significantly higher unless it has rare mint errors or is in exceptional condition.
2. Are there any errors on the 1964 nickel?
Yes, some 1964 nickels have notable errors, such as double die obverses or reverses, and die clashes. These error coins can be more valuable than regular issues.
3. What is a 1964 full steps nickel?
A 1964 full steps nickel refers to a coin where the steps on Monticello are fully visible and distinct. Full steps are rare and can significantly increase the coin's value.
4. How many 1964 nickels were minted?
Over one billion 1964 nickels were minted, with production split between the Philadelphia and Denver mints.
5. Where is the mint mark on a 1964 nickel?
The mint mark on a 1964 nickel can be found on the reverse side of the coin, to the right of Monticello. Coins without a mint mark were minted in Philadelphia, while those with a "D" were minted in Denver.
6. Why are 1964 nickels so common?
The U.S. Mint produced a large number of nickels in 1964 to meet increased demand for coinage, making them one of the most common dates for Jefferson nickels.
7. What makes a 1964 nickel valuable?
Factors that make a 1964 nickel valuable include its condition (with uncirculated or high-grade coins being worth more), the presence of full steps on Monticello, and any mint errors.
8. How do you determine the grade of a 1964 nickel?
The grade of a 1964 nickel is determined by its condition, including the amount of wear and the clarity of details. Professional grading services like PCGS or NGC can provide an official grade.
9. Can a 1964 nickel be silver?
No, 1964 nickels are not silver. They are made of a copper-nickel alloy. The only silver nickels were produced during World War II (1942-1945) due to metal shortages.
10. Is a 1964 nickel worth saving?
Yes, 1964 nickels can be worth saving, especially if they are in uncirculated condition, have full steps, or possess notable mint errors. These characteristics can make them valuable to collectors.
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