The 1987-P Jefferson Nickel is worth anywhere from its face value of $0.05 in circulated condition to over $1,500 for rare specimens with Full Steps. While most of these coins in your pocket change aren’t hidden treasures, certain high-grade examples can be quite valuable to collectors.
Understanding the Value of Your 1987 Philadelphia Mint Nickel
If you have discovered a shiny nickel dated 1987 with a small “P” mint mark next to the portrait of Thomas Jefferson, you are likely wondering if it is a common pocket piece or a collector’s item. Because the Philadelphia Mint produced nearly 400 million of these coins, the vast majority remain in circulation and are only worth their face value. However, the story changes when we look at coins that never entered the hands of the public.
To get an instant evaluation of your collection, many hobbyists recommend using the best coin identifier app to see if your specific coin has features that appeal to buyers. If you find a 1987-P Nickel that looks like it just came from a fresh roll, you might want to look closer at the “steps” on Monticello. Professional grading can transform a five-cent piece into a triple-digit investment. By using the CoinHix mobile app, you can track these price shifts in real-time.
Condition and the Full Steps Designation
The primary factor that determines the 1987-P Jefferson Nickel value is its physical condition, specifically the presence of “Full Steps.” On the reverse side of the coin sits Monticello, Jefferson’s famous estate. Collectors pay a massive premium for coins where the five or six steps leading up to the building are perfectly defined and not blurred by the minting process or wear.
Most 1987 nickels suffered from die fatigue, meaning the details are often soft or mushy. Finding a 1987-P with complete, crisp horizontal lines on the steps is very rare. While a standard uncirculated coin might be worth a few dollars, a “Full Steps” version in high grade can skyrocket in price. You can check the current 1987-P Jefferson Nickel price guide to see how much of a premium these well-struck coins currently command in the market.
1987-P Jefferson Nickel Price Reference Table
To help you understand what your coin might be worth at different levels of preservation, refer to the pricing chart below. Note that “MS” stands for Mint State, which indicates a coin that has never been used in daily transactions.
| Grade / Condition | Estimated Value (USD) |
|---|---|
| Circulated (Average Wear) | $0.05 |
| Uncirculated (MS60) | $0.25 – $1.00 |
| Choice Uncirculated (MS65) | $5.00 – $12.00 |
| Gem Uncirculated (MS66 Full Steps) | $40.00 – $85.00 |
| Superb Gem (MS67 Full Steps) | $650.00 – $1,500.00+ |
Looking for Rare Errors on 1987 Nickels
Errors are another way that a common 1987 nickel can become valuable. During the high-speed minting process at the Philadelphia Mint, mistakes occasionally occurred. Keep an eye out for “Off-Center” strikes, where the design is pushed to one side, leaving a blank crescent of metal. Another common error is the “Die Crack,” which appears as a raised line of metal where the minting die began to break apart.
If you suspect you have an error coin, don’t clean it! Cleaning a coin can destroy its numismatic value instantly. Instead, use the CoinHix app to compare your coin against known error varieties. Reviewing the historical sales data for 1987 nickels can also provide clues on whether your specific error is sought after by specialists. Even a minor error can double or triple the value over a standard circulated coin.
How to Start Your Own Coin Collection with Modern Nickels
The 1987-P Jefferson Nickel is a great starting point for new collectors because it is still possible to find them in circulation. While you likely won’t strike it rich with every coin you find, the thrill of “roll hunting”—buying rolls of nickels from the bank to search for high-grade specimens—is a popular American pastime. It is a low-cost way to learn about the history of the United States Mint.
As you build your collection, tools like CoinHix help you organize your finds and stay updated on ever-changing market values. Remember that the “P” mint mark represents Philadelphia, while “D” represents Denver. By collecting one of each year and mint mark, you can create a complete set of Jefferson Nickels that tells the story of American commerce over the decades.
Q: Where is the mint mark on a 1987-P Jefferson Nickel?
A: The mint mark is located on the obverse (front) of the coin, just to the right of Thomas Jefferson’s ponytail, near the date. The “P” indicates it was minted in Philadelphia.
Q: Is a 1987-P nickel with stairs always worth a lot of money?
A: Not necessarily. Most nickels show some stairs, but to be “Full Steps” (FS), there must be no interruptions or scratches across at least five horizontal lines. Only high-grade MS65 or higher Full Steps coins carry high values.
Q: Should I spend a 1987-P nickel if I find one in my change?
A: If the coin is heavily worn, it is likely only worth five cents and is safe to spend. If it looks exceptionally shiny and brand new, you should set it aside and check its grade.
