1939-S Reverse of 1940 Jefferson Nickel Value Guide
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The 1939-S Reverse of 1940 Jefferson Nickel is worth anywhere from $5 in worn condition to over $3,500 in high-grade mint state. This specific variety is a favorite among collectors because it represents a transitional moment in the history of the United States Mint’s design processes.
| Condition | Estimated Value |
|---|---|
| Good / Very Good (Circulated) | $5.00 – $15.00 |
| Fine / Extremely Fine | $20.00 – $85.00 |
| About Uncirculated (AU) | $100.00 – $250.00 |
| Mint State (MS65+) | $400.00 – $3,500+ |
Identifying the 1939-S Reverse of 1940 Variety
If you’ve just found a shiny 1939 nickel in a jar or collection, you might be sitting on a rare variety. In 1939, the San Francisco Mint used two different dies for the “tails” side of the coin. The “Reverse of 1938” features wavy, soft lines on the steps of Monticello, while the “Reverse of 1940” features straight, crisp steps.
To properly identify your find, it is highly recommended to use a top coin identifier and value app to zoom in on the design details. The 1939-S Reverse of 1940 is much scarcer than the 1938 design, making it a high-priority target for numismatists.
When evaluating your coin, look closely at the “S” mint mark located to the right of Monticello. If the steps on the building appear perfectly straight and have clearly defined boundaries, you have the 1940 hub style. This subtle difference can mean a jump of hundreds of dollars in market price. Using tools like CoinKnow can help you differentiate these architectural nuances without needing a professional microscope.
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Grading and Market Value for San Francisco Nickels
The value of the 1939-S Reverse of 1940 Jefferson Nickel is heavily dependent on its preservation. Most coins found in change today are “Average Circulated,” meaning the details of Thomas Jefferson’s hair and the pillars of Monticello are smoothed down. Even in this condition, the 1939-S variety remains one of the more valuable early Jefferson nickels.
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For those looking for precise data, check the current 1939 Jefferson nickel market prices to see how mint state specimens are performing at auction. A coin that has never been spent—showing original mint luster—is the dream for any collector.
If you are unsure about the grade, the CoinKnow app provides visual grading guides. A grade of MS65 (Mint State 65) indicates a coin with very few distracting marks. Because the San Francisco Mint had a relatively low production run compared to Philadelphia, finding these in high grades is exceptionally difficult.
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| Grade | Price Range | Scarcity |
|---|---|---|
| MS60 | $150 | Uncommon |
| MS64 | $350 | Rare |
| MS66 | $1,250+ | Very Rare |
| MS67 | $3,500+ | Extremely Rare |
The Importance of the Full Steps (FS) Designation
For serious investors, the ultimate “holy grail” for the 1939-S Reverse of 1940 nickel is the “Full Steps” (FS) designation. This refers to the steps leading up to Monticello on the reverse. If a coin has five or six fully visible, uninterrupted steps, its value skyrockets.
Most nickels from this era suffer from “weak strikes,” where the metal didn’t fully fill the deep crevices of the die. Finding a 1939-S with sharp, crisp steps is like finding a needle in a haystack. You can find more 1939-S Jefferson nickel valuation details regarding the Full Steps premium online.
When a coin earns the FS label from a grading service like PCGS or NGC, the price can often double or triple. For example, an MS66 without full steps might sell for $1,000, but the same coin with Full Steps could easily fetch $3,000 or more because of its strike quality.
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Why the 1939-S Reverse of 1940 is a Key Date
In the world of coin collecting, a “key date” is a coin that is particularly hard to find within a series. While the 1939-S isn’t the rarest Jefferson Nickel (that title often goes to the 1950-D), the “Reverse of 1940” variety is considered a semi-key date.
Collectors want to complete their sets, and most albums have a specific slot just for this variety. The demand consistently outweighs the supply, especially as more people start using apps like CoinKnow to filter through their spare change. This steady demand keeps prices stable even when the broader economy fluctuates.
Historical context also adds to the allure. As the U.S. was emerging from the Great Depression and the world was moving toward WWII, the San Francisco Mint was producing coins with limited resources. These nickels are a tangible piece of American history from a pivotal year.
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| Mint Mark | Variety | Mintage (Approx) |
|---|---|---|
| 1939-S | Reverse of 1938 | 6,630,000 (Total) |
| 1939-S | Reverse of 1940 | Estimated < 1,000,000 |
Tips for Preserving and Selling Your 1939 Nickels
If you believe you have discovered a 1939-S Reverse of 1940, the most important rule is: Do not clean it. Cleaning a coin with chemicals or even a soft cloth can leave microscopic scratches that instantly destroy its numismatic value. A “shiny” cleaned coin is worth much less than a dirty, original coin.
To preserve the value, place the coin in a PVC-free plastic flip or a cardboard “2×2” holder. This prevents oil from your skin from causing corrosion or toning. Acidic environments can also turn the nickel a dark, unattractive grey, which collectors dislike.
When you are ready to sell, consider getting the coin authenticated if it appears to be in Uncirculated condition. A certified grade provides buyers with confidence and ensures you get the maximum possible price. Local coin shops are great for quick cash, but online auctions often bring higher prices for Rare varieties like the 1939-S Reverse of 1940.
1939-S Jefferson Nickel FAQ
Q: How can I tell the difference between the Reverse of 1938 and 1940?
A: Look at the steps of Monticello on the back. The 1938 variety has “wavy” steps that look blurry or melted. The 1940 variety has sharp, straight, and clearly defined steps.
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Q: Is the 1939-S nickel made of silver?
A: No, the 1939-S Jefferson Nickel is composed of 75% copper and 25% nickel. Silver “War Nickels” were only produced from 1942 to 1945.
Q: Where is the mint mark on a 1939-S Jefferson Nickel?
A: The “S” mint mark is located on the reverse (back) of the coin, to the right of the Monticello building, near the rim.
Q: How much is a common 1939 nickel worth?
A: A common 1939 nickel from Philadelphia (no mint mark) in circulated condition is generally worth only face value or a few cents over. Only the “S” and “D” mint marks or specific varieties carry large premiums.
