The 1968-S Jefferson Nickel is worth anywhere from its face value of $0.05 in circulated condition to over $1,500 for high-grade Deep Cameo proof specimens. While most of these coins found in pocket change aren’t hidden fortunes, certain “S” mint marks carry significant premiums for collectors and history buffs alike.
| Condition / Grade | Estimated Value |
|---|---|
| Circulated (Average Wear) | $0.05 – $0.15 |
| Uncirculated (MS60 – MS65) | $1.00 – $15.00 |
| Proof (PR65 – PR69) | $2.00 – $40.00 |
| High-Grade Proof Deep Cameo | $100 – $1,500+ |
Understanding the History of the 1968-S Jefferson Nickel
If you have discovered a nickel featuring Thomas Jefferson with a small “S” next to the building on the back, you are holding a piece of American numismatic history. The year 1968 marked a significant transition for the United States Mint.
During the mid-1960s, the mint stopped using mint marks to discourage coin collecting, which they blamed for a national coin shortage. However, by 1968, mint marks returned, and the San Francisco Mint (denoted by the “S”) took over a specific role in production.
If you are unsure whether your coin is a standard strike or a proof, using the best coin identifier app can help you distinguish between the different finishes instantly.
During this year, San Francisco produced over 100 million nickels for general circulation and over 3 million proof sets for collectors. Most people use CoinHix to quickly scan these coins and see if they have a rare proof that accidentally entered circulation. Identifying the strike type is the first step in determining the true 1968-S nickel market price.
Identifying Mint Marks and Coin Varieties
The “S” mint mark on a 1968 nickel is located on the reverse (back) side of the coin. Look closely at the right side of the Monticello building, near the rim.
While the San Francisco Mint is often associated with high-quality “proof” coins today, in 1968 they were still striking millions of coins for everyday commerce. This means that just seeing an “S” doesn’t automatically mean you have a rare treasure.
| Mint Mark | Meaning | Production Type |
|---|---|---|
| None (P) | Philadelphia | Business Strike (Circulation) |
| D | Denver | Business Strike (Circulation) |
| S | San Francisco | Business Strike & Proofs |
Comparing these values is much easier when you have a live database. For instance, you can check the current value for 1968 Jefferson Nickels to see how the Denver and San Francisco productions differ in the eyes of collectors. Generally, the 1968-S is more common than some earlier dates, keeping the price accessible for new hobbyists.
The Difference Between Business Strikes and Proofs
One of the most confusing things for everyday Americans is distinguishing a shiny “business strike” from a “proof” coin. Business strikes were made to be spent on groceries and gas. They were tossed into large bins, causing small scratches and nicks.
Proofs, however, were struck twice using specially polished dies to create a mirror-like background and “frosted” details on Jefferson’s portrait. These were sold in plastic sets directly to collectors.
Interestingly, many 1968-S proof nickels have spent decades in circulation after being removed from their sets by people who didn’t know their value. If you find a nickel that looks significantly shinier than others, it might be a proof.
Expert collectors often use the CoinHix app to zoom in on the “Full Steps” on the back of the building. On business strikes, these steps are rarely fully defined, but on high-quality proofs, they should be sharp and distinct. Knowing real-time 1968-S nickel pricing and rarity factors can help you decide if your coin is worth sending to a professional grading service like PCGS or NGC.
Grading and Determining Condition
The value of your 1968-S Jefferson Nickel is almost entirely dependent on its grade. Professional graders use a 70-point scale, where 1 is barely recognizable and 70 is a perfect coin.
Most coins you find in your pocket will be “Circulated,” meaning they have lost some of the finer details in Jefferson’s hair and the pillars of Monticello.
| Grade Designation | Visual Description | Typical Value |
|---|---|---|
| Good (G4) | Heavily worn; outlines are flat. | $0.05 |
| About Uncirculated (AU58) | Slight wear on high points; most luster present. | $0.25 – $0.50 |
| Mint State (MS65) | Bright luster; very few marks; highly collectible. | $15 – $30 |
| Proof (PR69 DCAM) | Flawless mirror finish; intense contrast. | $100 – $500 |
While the “Full Steps” (FS) designation is the “holy grail” for many Jefferson Nickel years, it is significantly harder to find on 1968-S business strikes. If you happen to find an uncirculated 1968-S with five or six clear steps on the back, you might be looking at a coin worth hundreds of dollars. Before you get too excited, use CoinHix to compare your coin’s details with high-resolution images of certified graded coins.
Rare Errors to Look For
Error coins are where the real money is made in “pocket change hunting.” The 1968-S series has a few known errors that can turn a five-cent piece into a valuable collector’s item.
Repunched Mint Marks (RPM) were common during this era because the “S” was hand-punched into the die. If you see a “shadow” or a double-image of the S, you have a variety that collectors will pay more for.
Another rare error is the “Clipped Planchet,” where a portion of the coin is missing in a crescent shape because of a mistake during the blank-cutting process. Die cracks and “cuds” are also found on these nickels.
When you find something that looks “wrong,” don’t clean it! Cleaning a coin destroys its numismatic value instantly. Instead, use a magnifying glass or a high-quality coin app to verify the error. Many collectors have found 1968-S coins with doubling on the lettering, which can add $20 to $50 to the value even in lower grades.
Where to Sell and Buy 1968-S Nickels
If you’ve identified a valuable 1968-S nickel, your next question is likely: “How do I turn this into cash?” For coins worth less than $10, selling on eBay or to a local coin shop might not be worth the effort due to shipping and fees. These are often better kept as the start of a personal collection.
For high-value proofs or MS65+ business strikes, professional auction houses or specialized coin dealers are the best route. You should always check recent “Sold” listings on auction sites rather than “Asking” prices. People can ask for $10,000 for a common nickel, but that doesn’t mean anyone is buying it.
Keeping an eye on market trends is essential. The value of nickels fluctuates based on collector demand and the price of nickel and copper, though for these years, the “numismatic” (collector) value far outweighs the melt value of the metal. If you are serious about selling, getting a professional grade is usually necessary for any coin valued over $100.
FAQ
Q: Is a 1968-S nickel made of silver?
A: No. Unlike some older quarters and dimes, Jefferson Nickels have not contained silver since the “War Nickels” ended in 1945. The 1968-S nickel is composed of 75% copper and 25% nickel.
Q: Are all 1968 nickels from the San Francisco Mint?
A: No, nickels were also produced in Philadelphia (no mint mark) and Denver (D mint mark). Each mint produced millions of coins, so all three are common in circulation.
Q: Why is my 1968-S nickel so much shinier than others?
A: It is likely a “Proof” coin from a collector’s set. These have a mirror-like finish. While beautiful, millions were made, so they are only highly valuable if they are in “perfect” condition (PR69 or PR70).
Q: What is the most expensive 1968-S nickel ever sold?
A: High-grade proof specimens with Deep Cameo finishes have sold for over $1,500 at major auctions. Business strikes in MS66 or higher with Full Steps are also extremely rare and valuable.
