1938 5C Jefferson Nickel
The 1938 5C, commonly known as the Jefferson Nickel, marks the inaugural year of the Jefferson Nickel series. This coin replaced the Buffalo Nickel and featured a design by Felix Schlag, chosen through a public competition. The obverse bears the left-profile portrait of Thomas Jefferson, while the reverse originally showcased Monticello, Jefferson's Virginia estate.
Mint and Mintage
The 1938 Jefferson Nickel was struck at three different U.S. Mints: Philadelphia (no mint mark), Denver (D), and San Francisco (S). The mintage for each mint is as follows:
- Philadelphia (No mint mark): 19,500,000
- Denver (D): 5,376,000
- San Francisco (S): 4,105,000
These figures illustrate the coin’s relatively low production, especially for the D and S mints, leading to the varying levels of rarity across the variants.
PCGS Information
According to PCGS CoinFacts, the 1938 Jefferson Nickel has been assigned the following numbers:
Philadelphia: PCGS #4012
Denver: PCGS #4013
San Francisco: PCGS #4014
Rarity and Value
In terms of rarity, the 1938-D and 1938-S are considered more desirable due to their lower mintages. These coins, particularly in higher grades of mint state, are sought after by collectors. The 1938 no mint mark from Philadelphia, while not as scarce, is nonetheless popular due to its historical significance as the first Jefferson Nickel. The value of the 1938 Jefferson Nickel varies depending on the mint, condition, and grading. Coins in average circulated condition are generally affordable, yet those in mint state can command higher prices.
Recent Sales Performance:
A 1938-D graded MS67 recently sold for a premium, underscoring its desirability. The 1938-S also sees strong demand, with MS67 specimens reaching significant prices at auction. These sales highlight the coin's collectible nature, especially for those that exhibit full steps on the Monticello (a condition indicating strong detail).
Historical Significance
From a numismatic perspective, the transition from the iconic Buffalo design to the Jefferson portrait was significant. This shift mirrored a broader trend of celebrating historical figures, aligning with the era's sense of heritage and nationalism. The Jefferson Nickel has since become a mainstay in American coinage, with the original 1938 issues continuing to capture collector interest due to their intricate details and historical context. For collectors and history enthusiasts, the 1938 Jefferson Nickel represents not just a monetary coinage but a piece of American history, marking the beginning of a series that remains in circulation today. This combination of history, artistry, and rarity makes the 1938 Jefferson Nickel a fascinating and valuable component of numismatic collections. Whether you are a seasoned numismatist or a new collector, the 1938 Jefferson Nickel offers an exceptional glimpse into the evolution of American coinage.
