The 1939 Reverse of 1940 Jefferson Nickel is worth anywhere from $5 in worn condition to over $6,000 in pristine mint state. While most 1939 nickels are common pocket change, the specific variety featuring the “straight steps” design is a hidden treasure for everyday collectors.
| Condition | Approximate Value |
|---|---|
| Circulated (Average Wear) | $5 – $15 |
| About Uncirculated (AU) | $25 – $75 |
| Uncirculated (Mint State) | $150 – $600 |
| Gem Quality / Rare Mint Marks | $1,000 – $6,000+ |
Understanding the 1939 Jefferson Nickel Varieties
If you’ve recently looked through an old coin jar and found a Jefferson Nickel from 1939, you might be holding a significant rarity. During 1939, the United States Mint changed the design of Monticello’s steps on the reverse of the coin. This resulted in two distinct types: the “Reverse of 1938” (wavy steps) and the “Reverse of 1940” (straight, well-defined steps).
Identifying these nuances can be difficult for the untrained eye. To ensure you aren’t missing a payday, many collectors use the best coin identifier app to scan their coins and instantly recognize these subtle design shifts. The “Reverse of 1940” variety is particularly sought after when paired with specific mint marks, such as the Denver (D) or San Francisco (S) marks.
While the “Reverse of 1938” is the standard for that year, the “Reverse of 1940” version represents a transition into the next production cycle. For everyday Americans, finding one in high grade is like winning a mini-lottery. Using a tool like CoinHix can help you verify if your coin has the “Full Steps” designation, which dramatically increases its market value.
The Distinctive Features of the Reverse of 1940
The key difference lies in the depiction of Thomas Jefferson’s home, Monticello. On the 1938 reverse, the steps leading up to the building are often blurry or “wavy.” On the 1940 reverse, the steps were redesigned to be sharper and perfectly parallel. This change was meant to improve the strike quality and the longevity of the dies.
Because this change happened mid-year, 1939 nickels can have either style. The “Reverse of 1940” is generally considered the more desirable variety for 1939-dated coins, especially for the 1939-D and 1939-S issues. If you have a 1939-D with the 1940 steps, you are looking at one of the “keys” to the entire Jefferson Nickel series.
Many people confuse the two, so it’s vital to check the 1939 Jefferson nickel price data before listing a coin for sale. A quick scan with CoinHix can provide a high-resolution view of the steps to confirm which variety you possess.
| Feature | Reverse of 1938 | Reverse of 1940 |
|---|---|---|
| Steps of Monticello | Wavy, blurry, less defined | Sharp, straight, parallel lines |
| Scarcity | Common for Philadelphia | Scarcer for Denver/S.F. |
Grading and Its Impact on Price
The value of any 1939 Reverse of 1940 Jefferson Nickel depends heavily on its “grade”—a measure of its physical condition. Most coins found in circulation today will grade between Good (G) and Very Fine (VF). At these levels, they are worth a few dollars. However, the price leaps exponentially once you reach “Uncirculated” grades.
For instance, a 1939-D Reverse of 1940 in MS65 (Mint State 65) condition is a major prize. At this level, the coin must have no major scratches and full luster. Collectors often look for the “Full Steps” (FS) designation, meaning at least five or six steps on Monticello are clearly visible and uninterrupted.
You can find current 1939 nickel auction prices for high-grade specimens online to see how massive the price gap is between a worn coin and a slabbed, graded one. If you think your coin looks “brand new,” it is absolutely worth having it checked by an expert or using an app like CoinHix to estimate its potential grade.
Mint Marks: Denver, San Francisco, and Philadelphia
Where your coin was minted plays a massive role in its 1939 Reverse of 1940 Jefferson Nickel value. You can find the mint mark on the reverse of the coin, to the right of Monticello, next to the rim. Philadelphia coins have no mint mark, while Denver coins have a ‘D’ and San Francisco coins have an ‘S’.
The 1939-D is the “Rarer” of the group, especially with the 1940 reverse. While millions were minted, very few were preserved in high grades. The 1939-S is also highly sought after but generally slightly more common in better conditions than the D-mint.
| Mint Mark | Rarity (Rev 1940) | Price Range (VF – MS65) |
|---|---|---|
| No Mint Mark (P) | Common | $2 – $200 |
| D (Denver) | Very Rare | $20 – $5,500 |
| S (San Francisco) | Rare | $10 – $1,500 |
What to Look for Under a Magnifying Glass
To truly identify the 1939 Reverse of 1940, you’ll need some magnification. Focus your attention on the steps of Monticello. In the “Reverse of 1938,” the lines of the steps are not deeply cut; they look like they have melted slightly. In the “Reverse of 1940,” the lines are incredibly crisp.
Another detail to check is the “Double Die” error. There is a famous 1939 “Doubled Monticello” error where the words “MONTICELLO” and “FIVE CENTS” appear doubled. If you find a 1939 nickel with both the 1940 reverse and doubling on the letters, you’ve hit the jackpot.
Always handle your nickel by the edges. Even oils from your fingers can degrade the “Full Steps” and lower the value from hundreds of dollars down to just a few. When in doubt, take a high-quality photo and let an AI-powered tool help you identify the specifics.
Historical Context: Why Was the Design Changed?
The Jefferson Nickel was first introduced in 1938 to replace the Buffalo Nickel. However, the initial design of the steps on Monticello was criticized for being too weak. The dies tended to wear down quickly, resulting in “mushy” looking coins.
By late 1939, the Chief Engraver of the Mint decided to strengthen the design. This transition period created a fascinating world for collectors. In 1939, they were using up the old dies while phasing in the new ones. This means that both “types” were produced simultaneously for a short time.
The 1939 Reverse of 1940 Jefferson Nickel remains a favorite among “completist” collectors who want every single variation of the series. Because most people in the 1940s didn’t notice the difference, many of these coins were spent, making high-quality survivors incredibly rare and valuable today.
Frequently Asked Questions
FAQ
Q: How can I tell if my 1939 nickel has the “Reverse of 1940”?
A: Look at the steps of Monticello on the back. If the steps look like distinct, straight horizontal lines with sharp edges, it is the Reverse of 1940. If they look wavy or blurred, it is the Reverse of 1938.
Q: Is a regular 1939 nickel worth money?
A: A standard, worn 1939 nickel without a mint mark is usually only worth its face value or a small premium ($0.25 to $1). However, if it has a ‘D’ or ‘S’ mint mark, or if it is the Reverse of 1940 variety, the value increases significantly.
Q: What is the “Full Steps” (FS) designation?
A: “Full Steps” is a grading term used for Jefferson Nickels. It means that the steps on Monticello are fully struck with no interruptions from scratches or weak strikes. Coins with Full Steps are worth much more than those without.
Q: Where is the mint mark on a 1939 nickel?
A: On 1939 nickels, the mint mark (D or S) is located on the reverse side, to the right of Monticello, between the building and the rim. If there is no letter there, the coin was minted in Philadelphia.
Q: Should I clean my 1939 Jefferson nickel to see the steps better?
A: Never clean your coins! Cleaning a coin with chemicals or abrasives will permanently damage its surface and destroy its collector value. Use a magnifying glass or a coin identification app to view the details instead.
