1940 Jefferson Nickel Value Guide

The 1940 Jefferson Nickel is a foundational piece of the series, minted just two years after the design replaced the iconic Buffalo Nickel. It is highly collectible for its historical transition period and its composition of 75% copper and 25% nickel, used before the wartime silver alloy shift.

What affects the value of 1940 Jefferson Nickel?

• The presence of 'Full Steps' on the base of Monticello significantly increases the coin's market value.
• Overall strike quality and the absence of heavy circulation wear or scratches.
• Mint location, with San Francisco (S) and Denver (D) strikes often carrying a slight premium over Philadelphia.
• Luster and preservation of the original mint frost on uncirculated examples.

How to Identify 1940 Jefferson Nickel?

• Verify the obverse features the original profile of Thomas Jefferson designed by Felix Schlag.
• Check the reverse for the frontal view of Monticello without a large mint mark above the dome.
• Look for the mint mark (D for Denver or S for San Francisco) located to the right of Monticello, or no mark for Philadelphia.
• Confirm the composition is the standard copper-nickel alloy, as silver versions did not begin until 1942.

History of 1940 Jefferson Nickel

The Jefferson Nickel was first minted in 1938, replacing the Buffalo Nickel. The initial design by Felix Schlag featured a frontal view of Monticello on the reverse. During World War II, from 1942 to 1945, nickels were made of a 35% silver alloy to conserve nickel for the war effort, easily identifiable by a large mint mark above Monticello. After the war, the original copper-nickel composition resumed.