1939-D 5C Reverse of 1940 Jefferson Nickel
The 1939-D Jefferson Nickel, featuring the "Reverse of 1940," is a fascinating piece for numismatists and collectors. This variant emerged during a transitional year in the series, distinguishing itself from the typical 1939 nickels. To better appreciate its allure and market dynamics, let's delve into its rarity, mintage figures, value, and historical significance.
Mint and Mintage
The 1939-D Jefferson Nickel was struck at the Denver Mint, which produced a total of 3,514,000 nickels that year. What particularly adds to the mystique of this coin is the concurrent production of two distinct reverse designs: the "Reverse of 1938" and the "Reverse of 1940." The latter, which aligns with coins struck from 1940 onwards, is notably rarer, arising from changes in the hub used for minting.
PCGS Details
According to PCGS Coin Facts, this particular variant, identified by its subtle alterations in the depiction of Monticello (most notably in the steps), has been designated as PCGS #94005. Collectors can rely on such specifics to ensure authenticity and to assist in grading accuracy.
Rarity and Grading
The 1939-D Reverse of 1940 is particularly scarce in high-grade conditions, making it a sought-after specimen. Coins in lower grades are more common due to the heavy circulation they endured, but examples in Mint State, especially those graded MS65 and above, are prized. Full Step nickels, defined by having five complete steps visible on Monticello, drive the desirability even higher due to their rarity.
Value and Market Trends
The coin's value varies significantly based on condition. For instance, circulated pieces may fetch modest sums, typically reflecting their numismatic interest rather than historical wear. However, uncirculated specimens can command premiums, with prices escalating dramatically with the quality of the mint state and the presence of full steps. Historically, auction sales have demonstrated the market's appetite: coins without full steps have frequently sold for hundreds of dollars, while top-grade full step examples have periodically reached into the thousands. These values fluctuate with market demand, underscoring the importance of quality and rarity.
Historical Significance
The 1939-D Reverse of 1940 serves as an emblem of numismatic transition. Its emergence corresponds to an era of design refinement, wherein the Mint sought to refine the quality and durability of its coinage. For numismatists, it is a physical testament to the evolution of coinage artistry and production techniques in the late 1930s. The contrast between its reverse and those preceding it marks an important chapter in the Jefferson Nickel's legacy. This unique coin intertwines rarity with historical context, positioning it as a cherished target for both burgeoning enthusiasts and seasoned collectors. Its journey through history—rooted in Denver's production halls and extending through collectors' showcases worldwide—embodies the perpetual allure of numismatics.
