The Monticello Jefferson Nickels, especially the “silver” wartime issues and rare error varieties, are highly sought after by collectors, with some commanding values in the thousands or even tens of thousands of dollars.
The term “Silver Nickels” refers specifically to the Wartime Jefferson Nickels minted from mid-1942 through 1945, which contain an alloy of 35% silver to conserve nickel for the war effort. These coins are easily identified by a large mint mark (P, D, or S) placed above the image of Monticello on the reverse side.
While most silver war nickels are valuable for their silver content, the truly “life-changing” values come from rare errors, varieties, or high-grade proofs within the series.
Most Valuable Jefferson Nickels (Including Silver Nickels)
Some of the rarest and most valuable Jefferson Nickels include major errors and special issues, with their potential auction values in high grades:
- 1942 Frith Jefferson Proof ($175,000): This is an extremely rare proof version of the wartime silver-alloy nickel. One of the rarest examples of these wartime coins, one sold privately for $175,000, setting a record for the wartime Jefferson nickels.
- 1939 Doubled Monticello (DDR) ($23,500): This variety is known as a “Doubled Die Reverse” (DDR) error, showing a noticeable doubling of the “MONTICELLO” text and the words “FIVE CENTS” on the reverse. An MS67 graded coin sold for $23,500.
- 1945-P Doubled Die Reverse ($18,800): This is a rare variety of the silver war nickel that exhibits doubling on the reverse design elements. The highest recorded auction price for this error is approximately $18,800.
- 1943 P (3 Over 2) Overdate ($16,675): This silver war nickel error occurred when a die originally intended for 1942 was repurposed for 1943, with the “3” in the date struck over a visible “2”. An MS66 graded example sold for $16,675.
- 1943-P Doubled Eye ($10,200): This silver war nickel variety shows doubling in Thomas Jefferson’s eyelid on the obverse. The highest recorded auction price for this error is approximately $10,200.
- 1942-D (D Over Horizontal D) ($10,000 for Full Steps): This error features a strange horizontal alignment of an underlying “D” mintmark beneath the normal, properly oriented “D” mintmark. Examples with the “Full Steps” designation (a premium for exceptional strike quality) can command prices up to $10,000.
Key Features to Look For:
To identify potentially valuable Jefferson Nickels, collectors look for specific characteristics:
- Large Mint Mark over Monticello: A large ‘P’, ‘D’, or ‘S’ mint mark above the image of Monticello indicates a 35% silver War Nickel (1942-1945).
- Doubled Die Errors: Look for clear doubling on the lettering, date, or design elements, such as the “Doubled Monticello” (1939) or “Doubled Eye” (1943-P).
- Overdates: Errors where one date is clearly visible beneath a corrected date, such as the 1943 P (3 Over 2).
- Full Steps (FS): This is a designation given to coins with an exceptionally sharp strike, showing all five steps of Monticello clearly and distinctly, which adds a significant premium to the coin’s value.
