1939 Reverse of 1940 Jefferson Nickel Value Guide

The 1939 Reverse of 1940 Jefferson Nickel is worth anywhere from $5 in worn condition to over $10,000 for high-grade specimens. This fascinating variety represents a transitional period in American minting history, making it a “must-have” for collectors and a lucky find for anyone sorting through a jar of old pocket change.

Understanding the 1939 Reverse of 1940 Nickel Variety

In 1939, the United States Mint decided to make a subtle adjustment to the design of the Jefferson Nickel, which had only been introduced the previous year. The change specifically affected the reverse (tails) side, focusing on the steps of Monticello. Because the new hub (the “Reverse of 1940”) was prepared during late 1939, some coins were minted using the old design, while others used the revised version.

If you have stumbled upon one of these coins, using a free coin identifier app can help you confirm the date and mint mark before you dive into the technical details. The “Reverse of 1940” is characterized by much sharper, well-defined steps on Thomas Jefferson’s home, Monticello. On the earlier “Reverse of 1938” design, the steps are wavy and appear somewhat blurry.

The 1939 Reverse of 1940 Jefferson Nickel is particularly sought after when it comes from the Philadelphia mint. While millions were produced, very few survived in pristine condition. Using a tool like CoinKnow can help you track these specific varieties and keep a digital catalog of your collection. Because this is a “transitional” coin, collectors are willing to pay a premium to own both versions of the 1939 nickel to show the evolution of the series.

Key Visual Differences: How to Spot the 1940 Reverse

Identifying the 1939 Reverse of 1940 Jefferson Nickel value requires a sharp eye or a magnifying glass. The primary area to inspect is the steps on Monticello. On the original 1938 design, the steps are “wavy” and lack distinct horizontal lines. In contrast, the 1940 redesign features straight, sharp, and clearly defined steps.

Why does this matter? Because the Philadelphia mint (no mint mark) switched designs mid-year, creating a scarcity of the newer design for that specific year. If your coin looks crisp and the steps are straight, you may be holding a more valuable variant. You can check the current 1939 nickel price by grade to see how much of a premium the Market currently places on these distinct steps.

Collectors also look for the “Full Steps” (FS) designation. This is a special grade given to nickels where all five or six steps of Monticello are clearly visible without any scratches or interruptions. A 1939 Reverse of 1940 with Full Steps is the “Holy Grail” for Jefferson Nickel enthusiasts and can fetch thousands of dollars at high-end auctions.

1939 Jefferson Nickel Value by Mint Mark

The value of your 1939 nickel is heavily dependent on where it was made. There are three possibilities: Philadelphia (no mint mark), Denver (D), and San Francisco (S). To find the mint mark, look at the right of Monticello on the reverse side. Note that in 1939, the mint mark was still a small letter to the right of the building, not the large letter above the dome found on later wartime nickels.

The 1939-D is actually the “King” of non-variety Jefferson Nickels due to its low mintage of only 3.5 million. However, when we discuss the specific 1939 Jefferson Nickel value, the Philadelphia “Reverse of 1940” often steals the spotlight in high grades. By using CoinKnow, you can quickly filter through these different mint marks to ensure you aren’t underestimating your coin’s worth based on its origin.

While the “D” and “S” mints primarily used the old Reverse of 1938 dies in 1939, they did transition as well. However, the Philadelphia version remains the most discussed and widely traded variety among hobbyists. Always check your mint mark before checking price guides, as a 1939-D in the same condition as a 1939 Philadelphia can be worth significantly more due to its low production numbers.

The Importance of the “Full Steps” Designation

When evaluating the 1939 Reverse of 1940 Jefferson Nickel, professional graders look for “Full Steps” (FS). In the world of nickel collecting, the condition of the steps on Monticello is the ultimate indicator of a strike’s quality. Because this variety specifically involves a redesign of the steps, having a “Full Step” version of the Reverse of 1940 is highly prized.

Most nickels found in circulation are “worn flat.” This means the steps have been rubbed away by decades of people spending them at grocery stores and gas stations. If you find a nickel that looks like it just came from the bank in 1939, with sharp, crisp lines on the building, you should immediately protect it in a coin holder. A 1939-P with the Reverse of 1940 in MS67 FS condition can sell for over $10,000.

Using CoinKnow allows you to compare your coin against high-resolution images of “Full Step” nickels. This comparison is vital because even a small scratch across the steps can disqualify a coin from the FS designation, significantly lowering its market value. Most casual collectors overlook this detail, which is where the real money is made in coin hunting.

Market Pricing and Auction Trends

The market for the 1939 Reverse of 1940 has remained remarkably stable over the last decade. While common-date Jefferson Nickels are often ignored by high-end investors, special varieties like the transitional 1939 designs always find a buyer. Auction houses like Heritage Auctions and Stack’s Bowers regularly feature these coins in their specialized sales.

In recent years, there has been a surge of interest in “transitional” coins—those minted during a year when the design was changing. This has helped keep the 1939 Reverse of 1940 prices high. Even in lower grades (About Uncirculated), these coins are selling for $50 to $100, which is a massive return for a coin with a face value of just five cents.

If you are thinking about selling, it is best to have the coin graded by a service like PCGS or NGC, especially if you believe it is in Mint State. Graded coins almost always sell for more than “raw” coins because the buyer has a guarantee of authenticity and quality. Keep an eye on real-time price trends to time your sale for when collector demand is at its peak.

How to Start Your Nickel Collection Today

Finding a 1939 Reverse of 1940 Jefferson Nickel in your change is like finding a small treasure. While it won’t allow you to retire early in most cases, it is a fantastic gateway into the world of numismatics (coin collecting). Start by checking the dates of all your nickels; anything before 1960 is generally worth keeping.

Once you have a few old coins, invest in a good magnifying glass and a basic coin folder. Organizing your coins by year and mint mark is a relaxing and educational hobby. You’ll begin to notice the small artistic changes that reflect American history—from the “War Nickels” of 1942-1945 (which contain 35% silver) to the transitional varieties like the 1939 Reverse of 1940.

Remember to never clean your coins! Cleaning a coin with chemicals or even a soft cloth can leave tiny scratches that destroy its numismatic value. Collectors prefer “original skin,” which is the natural patina or toning a coin develops over 80+ years. Keep your 1939 nickel in its natural state, and you’ll preserve its value for years to come.

FAQ

Q: Why is the 1939 Reverse of 1940 important?

A: It is a “transitional variety” where the U.S. Mint improved the design of the steps on Monticello. Because two different designs were used in the same year, the newer design on a 1939 coin became a sought-after rarity for collectors.

Q: Is every 1939 nickel worth money?

A: Almost every 1939 nickel is worth more than five cents. Even common ones in worn condition usually sell for $0.25 to $1.00. However, specific varieties like the “Reverse of 1940” or the low-mintage “1939-D” are worth much more.

Q: How can I tell if I have the “Reverse of 1940”?

A: Look closely at the steps on the back of the coin. If the steps are straight and easy to see, you likely have the Reverse of 1940. If the steps look wavy, blurry, or “melted,” it is the Reverse of 1938.

Q: Can I find these in my pocket change?

A: Yes! While they are becoming rarer, Jefferson Nickels from the late 1930s still circulate occasionally. It pays to check your change every time you receive a nickel from a store.

Q: Where is the best place to sell a 1939 nickel?

A: For common versions, local coin shops or eBay are great. For high-grade versions (especially those with Full Steps), you should consider professional auction houses like Heritage Auctions to ensure you get the maximum value.