Coin collecting, often called numismatics, is an interesting hobby which combines history, artistry and discovery. Some coins (rare, unique errors, or other types of significance or rarity) can be worth high prices. One such coin is the 1939 Jefferson Nickel that may be valued at $350,000. Let’s look at the story behind this exceptional coin before outlining three of the most valuable coins that collectors want today.
1939 Jefferson Nickel: A Glimpse into History
The Jefferson Nickel made its debut in 1938 with the profile of Thomas Jefferson on the obverse and an image of Thomas Jefferson’s home, Monticello, on the reverse side. The 1939 edition is again notable for specific varieties, which add much to the desirability and value of that coin.
Key Variations of the 1939 Jefferson Nickel
1939 Double Monticello
A rare minting error where the reverse side appears to have two images of Monticello, making it highly desirable among collectors.
1939 Reverse of 1940
Some 1939 nickels mistakenly featured the reverse design intended for 1940, increasing their rarity.
1939 “Full Steps”
Coins with a well-defined depiction of the steps on Monticello’s portico are significantly more valuable in higher grades.
High-grade examples, particularly those with unique errors or striking details, have been known to command prices of up to $350,000 at auctions. These coins remain a coveted find for serious collectors.
3 More Valuable Coins to Look Out For
While the 1939 Jefferson Nickel is a standout, several other coins have attained legendary status due to their rarity and high value. Here are three coins that collectors dream of finding
1. 1893-S Morgan Silver Dollar
The 1893-S Morgan Silver Dollar is regarded as a scarce and desirable coin in America. It is the lowest minted coin in the Morgan series, with a mintage of just 100,000. The combination of heavy circulation and melting has resulted in uncirculated pieces being very rare and valuable.
Key Features:
- Mint Mark: The “S” denotes that it was minted in San Francisco.
- Design: Lady Liberty is depicted on the obverse, with an eagle holding arrows and an olive branch on the reverse.
- Composition: 90% silver, 10% copper.
- Value: Circulated coins can be worth thousands of dollars, while uncirculated coins have sold for over $2 million at auction.
2. 1913 Liberty Head Nickel
The 1913 Liberty Head Nickel is one of the most mysterious and highly prized coins in U.S. history. Only five specimens are known to exist, making it an extremely rare collector’s item.
Key Features:
- Design: The obverse showcases Liberty wearing a coronet, while the reverse features a Roman numeral “V” indicating the coin’s value of five cents.
- Minting History: This coin was struck illegally after the official transition to the Buffalo Nickel in 1913, adding to its allure.
- Value: A single example sold for $3.7 million, solidifying its status as one of the most coveted coins in existence.
3. 1943 Copper Penny
The U.S. Mint had to change the composition of the penny from copper to steel due to a national copper shortage during World War II, and there were a small number of pennies that were mistakenly struck on copper planchets, making them one of the most valuable error coins ever discovered.
Key Features:
- Composition: Regular 1943 pennies were made of steel; any copper versions are rare errors.
- Appearance: Unlike standard steel pennies, which have a silvery-gray color, these pennies maintain a traditional copper hue.
- Identification: Steel pennies are magnetic, while genuine 1943 copper pennies are non-magnetic.
- Value: One such penny sold for $840,000, proving its immense rarity and value.
Tips for Identifying Valuable Coins
If you’re interested in coin collecting or just want to check your pocket change for unexpected value, remember these tips:
- Evaluate for Minting Errors: Look for double images, missing letters or mis-spacing – these could mean valuable minting errors.
- Check the Year and Mint Mark: Some years and mints created fewer coins, making them scarcer.
- Check Coin Condition: Higher grade coins (better condition) are of significantly more value.
- Use a Loupe: This allows you to see finer detail, such as “Full Steps” on nickels, or doubling errors on the coin.
- Weigh the Coin / Coin Test: Some rare coins may have a different element or weight in the metal composition, so use a magnet or scale to help confirm.
The Thrill of Coin Collecting
Coin collecting is more than a hobby; it is a journey into a world of history, art, and the thrill of the hunt. Sure, you may not be fortunate enough to find mythical coins like the 1939 Jefferson Nickel, the 1893-S Morgan Silver Dollar, or even the 1943 Copper Penny, but the constant and infinite thrill of hunting for coins is the key.
Every coin has a story and, beyond that, can even educate you about an era in the past. Whether you are a lifelong collector of coins or simply a person checking your pocket change for something interesting, the opportunity for a valuable coin is ever-present. So keep looking, keep educating yourself, and enjoy the treasure hunt!
FAQs
1. Why is the 1939 Jefferson Nickel worth $350,000?
The high value of this coin is due to its rarity, condition, and unique errors or variations. Some 1939 Jefferson Nickels, particularly those with the “Doubled Monticello” error or in pristine condition, can fetch high prices at auctions.
2. How can I tell if I have a rare 1939 Jefferson Nickel?
Look for special features like the “Doubled Monticello” error, a well-defined strike, or mint marks indicating a rare variety. Having the coin professionally graded by PCGS or NGC can confirm its authenticity and value.
3. What are some other valuable coins I can find in circulation?
Aside from the 1939 Jefferson Nickel, other rare coins include the 1943 Copper Penny, the 1955 Doubled Die Lincoln Cent, and the 1969-S Doubled Die Penny. These coins are valuable due to their rarity and demand among collectors.
4. Where can I sell a valuable coin if I find one?
You can sell rare coins through online auction sites (eBay, Heritage Auctions), coin dealers, or numismatic conventions. Having the coin graded can help maximize its value.
5. How do I know if a coin is worth money?
Research its mint year, errors, and condition. Online price guides, coin grading services, and reputable coin dealers can help determine a coin’s market value.