1940 Jefferson Nickel Value

Picture this - You find a copper coin in your grandparent's attic. Curious about its value, you visit a coin dealer and find out that the coin is a treasure!

Coming back to reality, you probably have that coin in your palms as we speak. The 1940 Nickel value is a hot topic among avid coin collectors. The 1940 Jefferson Nickel can have values as high as $7,850. However, the value is determined by three factors: the Mintmarks, the Coin Condition, and the Errors.

Let’s breakdown the 1940 Nickel value and its influencing factors.

     Brief History of Buffalo Nickel

The United States Mint started producing Jefferson nickel coins in October 1938 when it took over the production of Buffalo nickel coins that were hard to manufacture. Having been in circulation for 25 years the U.S. Mint conducted a design competition during January 1938 which selected Felix Schlag's entry showing Jefferson's portrait on one side and Monticello on the other.

Finally the US Mint authorized the production at Philadelphia Denver and San Francisco mints following numerous design alterations. The nickel faced initial collector demand before it started to circulate widely during 1940. The United States Mint implemented a new striking hub during 1939 to enhance the staircase detail on the Monticello design.

The early versions of these coins displayed faded steps but the new minted coins possessed distinct steps which coin collectors referred to as "Full Steps." The Full Steps design on these coins increased their value among collectors thus making them vital components of Jefferson nickel historical significance.

     Features and Specifications of the 1940 Nickel (H2)

Check out this descriptive video by BigDCoins explaining the specifications of the Jefferson Nickel with its design and history!

     1940 Nickel Value

The total mintage of the Jefferson Nickels in 1940 was a staggering amount of around 260 million. The mintage is divided into three different US Mint facilities, which are discussed below:

1940 No Mint Mark Nickel Value

The No mint mark Nickel means that the nickels were struck at the Philadelphia Mint. The Philadelphia Mint struck a total of 176,485,000, 1940 Jefferson nickels. With this scale of mintage, the no mintmark Jefferson nickels are easy to find in the circulated condition. Even the uncirculated and full-step no mintmark ones are common.

The circulated 1940 Jefferson Nickels lacking the mintmark would fetch values from $0.10 to $0.90. While, the coins from grades MS61 to MS63 can have values as high as $5.

Higher up the grading scale, the MS67 graded nickels can have values of around $100. According to an auction record, an MS68 1940 Jefferson Nickel was sold at $558 in 2021.

1940 D Nickel Value

The “D” mintmark is carried by the nickels struck at the Denver facility of the US Mint. The Denver struck a total of 176,485,000 nickels, the second-highest mintage of the 1940 Jefferson Nickels. Similar to the Philadelphia, the high mintage makes these coins easier to find. However, they are said to have a well-struck design with luster.

An circulated Nickel with the D mintmark is worth between $0.10 and $2. The mint state nickels from the MS62 grade up to MS67, have values from $3.50 to as high as $125.

From the auction records, an MS67 graded 1940 -Jefferson nickel was auctioned and sold at $795.

1940 S Nickel Value

The 1940 S Nickels are the coins struck at the San Francisco facility of the US Mint. A total of 36,690,000 nickels were struck, which is definitely not a small number.

Furthermore, the mint also struck proof versions with the S mintmark, Keep reading for it! There are prices however are low also because of their worn out nature since they were made from worn dies.

The San Francisco Jefferson Nickels in circulated condition have values from $0.10 to $1.80, while those in uncirculated condition from grades MS63 to MS67 can fetch values from $7 to as high as $175.

1940 S Nickel (Proof) Value

Remember, the proof version of the S mintmark Jefferson Nickels? The San Francisco Mint also struck only 14,158 nickels in 1940. These proof coins have a satin-like finish with excellent luster and contrast.

If you want to buy, the lower graded nickels are affordable however, the prices drastically rise for higher graded proof coins. From as low as $25, the value of these proof coins can go at a staggering price of $7,950.

An interesting auction record: An PF68 Jefferson Nickel was auctioned off at $18,400 in 2005.

     Grading the 1940 Buffalo Nickel

Uncirculated (MS 60 or higher):

• A coin in uncirculated condition has never been used in commerce. It shows no signs of wear, and the details on the coin are crisp and sharp.
• Look for full, sharp details on the coin's design, including the hair, nose, and bowtie on Jefferson's portrait.
• The reverse side should have clear, detailed elements like the Monticello building and the steps leading to it.
• There should be no wear or flattening on the high points of the coin.

Extremely Fine (EF 40–45):

• A coin in extremely fine condition will show only minor wear, mostly on the highest points of the design, such as Jefferson's cheek, hair, or the steps of Monticello.
• You should see nearly all the details intact. The features on Jefferson’s face, such as his hair, should still be sharp, but there may be light wear that has slightly softened these features.
• The reverse should show clear details of Monticello, but with some minor wear on the edges of the structure.

Fine (F 12–15):

• A fine coin shows more wear, but the major design features are still identifiable.
• There will be more flattening on the coin's high points, and some of the finer details may be worn down or softened.
• In a 1940 Jefferson Nickel in fine condition, Jefferson’s features, such as his hair and facial features, will be more worn, with some of the finer lines and details blurred or missing.
• The reverse side will still show Monticello, but some of the fine architectural details may be worn smooth.

Good (G 4–6):

• A coin in good condition is heavily worn. Many of the details are gone, but the overall design is still recognizable.
• In a good-condition 1940 Jefferson Nickel, Jefferson’s face will be heavily worn, and only the basic shapes and outline of his features will be visible.
• The reverse side of Monticello may have significant wear, with only the basic outline remaining.
• There will be no sharp details left, and some letters or numbers may be worn away, making the coin’s readability more difficult.

     What’s in it for you?

Well, now you know the values of the 1940 Jefferson Nickels, but what can you get for it? Suppose you found an uncirculated 1940 S Nickel Value and sold it for its estimated value: $175.

You would want to know what is the 1940 S Nickel worth?

If you sold an uncirculated 1940 S Nickel at $175 you can get,

• One-year subscription of Netflix and Spotify.
• A pair of 2nd Gen AirPods.
• A pair of Nike or Adidas sneakers.
• A week’s grocery for a single person.
• A domestic flight ticket (depends on the destination).
• A decent piece of jewelry.