1968-S Jefferson Nickel Value: What Is Your Coin Worth?
The 1968-S Jefferson Nickel is worth anywhere from its $0.05 face value in worn condition to over $100 for high-grade Deep Cameo proof specimens. While most found in pocket change are common, certain San Francisco mintages hold significant appeal for collectors looking to complete their sets.
| Condition / Grade | Estimated Value |
|---|---|
| Circulated (Average) | $0.05 – $0.15 |
| Uncirculated (MS65) | $1.00 – $5.00 |
| Proof (PF65) | $2.00 – $10.00 |
| Proof (PF69 Deep Cameo) | $50 – $150+ |
History of the 1968-S Jefferson Nickel
If you’ve recently sorted through a jar of old change and spotted an “S” mint mark on a nickel, you have found a piece of American history from a transitional era. In 1968, the United States Mint resumed the use of mint marks on coins after a three-year hiatus (1965-1967) intended to discourage coin hoarding during the silver shortage. This was also the first year that the mint mark was moved from the reverse side, next to Monticello, to the obverse side, just below the date.
The “S” stands for the San Francisco Assay Office (now the San Francisco Mint). Interestingly, in 1968, the San Francisco facility produced both business-strike coins intended for circulation AND special Proof sets for collectors. This dual-purpose production makes the 1968-S Jefferson Nickel a unique case for beginners. If you are unsure which version you have, you can use a free coin identifier app to quickly recognize the strike type and texture of your coin.
Identifying your coin’s specifics is easier than ever with digital tools. Using the CoinKnow app, you can take a clear photo of your 1968 nickel to see if it matches the frosty appearance of a collector’s proof or the matte finish of a standard circulation strike. Understanding these nuances is essential because the market demand varies wildly between a coin that spent years in a vending machine and one that was preserved in a plastic case.
Understanding the 1968-S Proof vs. Business Strike
The most important step in determining value is distinguishing between the two types of 1968-S nickels. The San Francisco Mint produced roughly 100 million “business strike” nickels meant for everyday spending. These generally have a duller, satin finish. Because they were minted in such high numbers, a regular 1968-S found in your pocket is usually only worth its five-cent face value unless it is in pristine, “uncirculated” condition.
On the other hand, the Mint also produced over 3 million Proof coins. These were specially struck twice using polished dies to create a mirror-like background and frosted details. While 3 million sounds like a lot, these coins were never meant for circulation. However, many “broken” proof sets eventually lead to these coins ending up in the wild. If your 1968-S is exceptionally shiny, it might be a proof.
The 1968 Jefferson nickel market values show a clear divide in pricing based on these two categories. Collectors are often willing to pay a premium for Proof coins that exhibit “Cameo” (CAM) or “Deep Cameo” (DCAM) effects, where Thomas Jefferson’s portrait stands out sharply against the dark, reflective fields of the coin.
| Mintage Type | Total Mintage | Primary Purpose |
|---|---|---|
| 1968-S Business Strike | 100,396,000 | General Commerce |
| 1968-S Proof | 3,041,506 | Collector Sets |
Grading and the “Full Steps” Designation
For serious collectors, the value of a 1968-S Jefferson Nickel is determined by its grade on a scale of 1 to 70. A coin graded MS65 (Mint State 65) is considered high quality, while an MS67 is nearly perfect and very rare. One specific detail that can skyrocket the price of a business strike nickel is the “Full Steps” (FS) designation. This refers to the steps of Monticello on the reverse of the coin.
On most 1968 nickels, the strikes were weak, causing the steps to appear blurry or merged. If you find a 1968-S with five or six clearly defined, horizontal lines on the steps, you have a rare treasure. These “Full Steps” coins are highly scrutinized by professional graders and can sell for hundreds of dollars at auction.
You can check your own coin’s potential by using the CoinKnow app’s magnification features to inspect the reverse. Seeing the 1968 nickel’s price guide figures will show you that while a regular MS65 might be worth $10, an MS65 with Full Steps is a different story entirely. Most everyday Americans overlook this detail, making it a great “Easter egg” to hunt for.
Common Errors Found on 1968-S Nickels
Errors are where the real excitement begins for casual treasure hunters. During the 1960s, the minting process was not as automated or precise as it is today, leading to several “mint errors” that make a 1968-S nickel worth more than its face value. These errors occur when something goes wrong during the striking process.
One common error to look for is the “Repunched Mint Mark” (RPM). This happens when the “S” was punched into the die twice, creating a shadowed or doubled effect on the letter. Other errors include “Die Cracks,” which look like raised jagged lines on the surface, or “Off-Center Strikes,” where the design is pushed to one side, leaving a blank crescent on the coin.
| Error Type | Appearance | Estimated Value |
|---|---|---|
| Repunched S Mint Mark | Overlapping “S” letters | $5 – $25 |
| Off-Center (10%+) | Missing portion of design | $20 – $100 |
| Die Break (Cud) | Raised blob of metal | $10 – $50 |
How to Store and Protect Your 1968 Nickels
If you realize that your 1968-S Jefferson Nickel is a Proof or a high-grade uncirculated coin, you must stop touching it with your bare fingers. The oils from human skin can cause “toning” or corrosion over time, which can lower the coin’s grade and value. Instead, handle the coin by its edges or wear soft cotton gloves.
The best way to preserve the value of your find is to place it in a PVC-free coin flip or a hard plastic capsule. Many people make the mistake of cleaning their coins to make them “shinier.” Never do this! Cleaning a coin with chemicals or cloths creates microscopic scratches that professional graders can easily detect, often devaluing the coin by 50% or more. Original “luster” is always better than artificial shine.
Before you decide to pay for professional grading (which can cost $20-$50 per coin), use the CoinKnow app to get a preliminary assessment. This helps you decide if your nickel is actually a high-grade specimen worth the investment or if it’s better kept as a cool conversation piece in your personal collection.
Where to Sell Your 1968-S Jefferson Nickel
Once you’ve identified a valuable nickel, you have several options for selling. For common uncirculated coins or low-level errors, eBay is often the best marketplace. It allows you to reach thousands of collectors. Just make sure to take high-quality, clear photos of both the front and back of the coin.
For high-value items, such as a Proof 69 Deep Cameo or a Full Steps business strike, you might consider specialized auction houses like Heritage Auctions or GreatCollections. These venues cater to serious numismatists who are willing to pay top dollar for registry-set quality coins. Alternatively, visiting a local coin shop can give you a quick cash offer, though dealers typically offer about 60-70% of the retail value so they can make a profit.
Always verify the current market trends before selling. Prices can fluctuate based on collector demand and the overall economy. Keeping an eye on recent “Sold” listings on auction sites is the most accurate way to gauge what someone is actually willing to pay for your 1968-S nickel today.
FAQ
Q: Is there any silver in a 1968-S nickel?
A: No. Jefferson Nickels only contained silver during World War II (1942-1945). The 1968-S nickel is composed of 75% copper and 25% nickel. Its value comes from its condition and rarity, not its metal content.
Q: What does the “S” mint mark mean?
A: The “S” indicates that the coin was struck at the San Francisco Mint. In 1968, San Francisco produced both regular coins for pocket change and special Proof coins for collectors.
Q: How can I tell if my 1968-S is a Proof?
A: Proof coins have a mirror-like, reflective surface and very sharp details. If you can see your reflection in the background (the “field”) of the coin, it is likely a Proof. Business strikes have a more dull, matte appearance.
Q: Are 1968-D or 1968-No Mint Mark nickels worth more?
A: Generally, no. The 1968-D (Denver) and 1968 (Philadelphia, no mint mark) were produced in even larger quantities than the 1968-S. They are very common in circulation and usually only worth five cents unless they are in perfect condition.
Q: Is it worth getting my 1968-S nickel graded?
A: It is only worth it if the coin is in near-perfect condition (MS67 or higher) or features the “Full Steps” on Monticello. For most 1968-S nickels, the cost of grading will be higher than the actual value of the coin.
