The 1939-S Reverse of 1940 Jefferson Nickel is worth anywhere from $3 in heavily worn condition to over $200 or more in pristine mint state grades — and certain high-grade examples have sold for hundreds at auction. If you just found one of these nickels in an old jar or coin collection, you might be sitting on more than pocket change.
What Makes the 1939-S Reverse of 1940 Jefferson Nickel Special
Not all 1939 Jefferson Nickels are created equal. The 1939-S with the Reverse of 1940 is a recognized variety that stands apart from the standard 1939-S issue. The difference lies in the reverse die used to strike the coin — the Reverse of 1940 design features a slightly different depiction of Monticello, with sharper, more refined architectural details compared to the earlier reverse.
The U.S. Mint in San Francisco used updated reverse dies toward the end of 1939, which is why some of these coins ended up with what collectors call the “Reverse of 1940.” This makes them transitional varieties — a type of coin that serious collectors actively seek out.
If you’re not sure which reverse your coin has, the best coin identifier app can help you compare design details side by side and quickly confirm the variety. It’s a handy tool for everyday people who aren’t coin experts yet.
How Much Is the 1939-S Reverse of 1940 Jefferson Nickel Worth?
Value depends heavily on condition, also called “grade” in the coin world. A well-worn coin that has been circulated for decades will show flattened details and dull surfaces — these are worth the least. Coins in better shape, especially those that were never circulated, can be significantly more valuable.
Here’s a general value guide for the 1939-S Reverse of 1940 Jefferson Nickel:
| Grade / Condition | Estimated Value |
|---|---|
| Good (G-4) | $3 – $5 |
| Fine (F-12) | $8 – $15 |
| Extremely Fine (EF-40) | $25 – $45 |
| About Uncirculated (AU-55) | $55 – $90 |
| Mint State (MS-63) | $100 – $175 |
| Mint State (MS-65+) | $200 – $400+ |
For the most current market data, you can check real-time 1939 Jefferson Nickel price listings across mint state grades to see what buyers are actually paying right now.
How to Tell If Your Coin Is the Reverse of 1940 Variety
This is the question most people ask first, and it’s a fair one. The two reverses look similar at first glance, but there are key differences. The Reverse of 1940 has a stronger, more defined depiction of Monticello, including more prominent steps on the building and crisper column detail.
To check your coin, use a magnifying glass or loupe and look closely at the architectural elements on the back. The steps below the doorway are one of the most telling areas — if they’re sharply struck and well-defined, you may have the Reverse of 1940 variety.
You can also use CoinHix to photograph your coin and compare it to confirmed examples. CoinHix gives collectors and casual finders a simple way to research varieties without needing a reference library.
What Affects the Value of Your 1939-S Reverse of 1940 Nickel
Beyond grade, a few other factors influence what your coin is actually worth on today’s market.
Eye appeal matters — coins with original luster, no cleaning, and no spots or scratches tend to sell for more, even within the same grade. Cleaning a coin actually destroys its value, so don’t polish it.
Strike quality is especially relevant for this variety. Well-struck examples with full steps on Monticello (called “Full Steps” or FS coins) command significant premiums. A coin graded MS-65 Full Steps can sometimes be worth two to three times as much as a regular MS-65 example.
For a full breakdown of how this coin’s value compares to other 1939 Nickel issues and varieties, this detailed 1939 nickel value guide covers all the key factors that affect your coin’s worth.
Should You Get Your Coin Graded?
If your 1939-S Reverse of 1940 Jefferson Nickel looks like it was never circulated — bright, shiny, with sharp details — it may be worth sending to a professional grading service like PCGS or NGC. Certified coins in high grades often sell for significantly more than raw (ungraded) examples.
For coins in circulated condition, professional grading usually isn’t cost-effective. In that case, doing your own research with tools like CoinHix or a trusted price guide is the smart first step before deciding whether to sell, hold, or seek a professional opinion.
FAQ About the 1939-S Reverse of 1940 Jefferson Nickel
Q: How many 1939-S Reverse of 1940 Jefferson Nickels were made?
A: The U.S. Mint did not separately track the production of specific die varieties, so an exact mintage for this variety is unknown. It is considered scarcer than the 1939-S Reverse of 1938, which makes it more desirable among collectors.
Q: Is the 1939-S Reverse of 1940 worth more than a regular 1939-S Nickel?
A: Yes, generally speaking. The Reverse of 1940 variety typically commands a premium over the standard 1939-S, especially in higher circulated and mint state grades. The difference can range from a few dollars in lower grades to $50 or more in uncirculated condition.
Q: Where is the best place to sell a 1939-S Reverse of 1940 Jefferson Nickel?
A: eBay is a popular option for common to mid-range coins, while heritage auction houses are better for high-grade certified examples. Before selling anywhere, use a tool like CoinHix to get a sense of current market value so you don’t undersell.
