1938-S Jefferson Nickel
Circulation strike struck at the San Francisco Mint · 4,105,000 made
- Mintage
- 4,105,000
- Metal
- 75% copper, 25% nickel
- Weight
- 5 g
- Diameter
- 21.21 mm
Original illustration. Tap to flip. Not a photograph of the actual coin.
Face value · Metal value · Small premium · Collector premium · Significant rarity. We use bands because prices change daily.
What is a 1938-S Jefferson Nickel worth?
It's scarcer than a typical date, so even circulated examples sell above face. The best uncirculated coins are where the money is.
What would make yours worth more:
- Uncirculated condition with full original luster
- Full steps on Monticello (5FS or 6FS)
- A die variety or minting error
- Certification by PCGS or NGC, which buyers expect for scarce dates
For market prices, check recent sold results for certified coins in the same grade.
Quick answers
- Is the 1938-S Jefferson Nickel rare?
- Somewhat. 4,105,000 were made, fewer than most dates, so collectors treat it as a semi-key.
- Is the 1938-S Jefferson Nickel silver?
- No. It's 75% copper, 25% nickel. The only silver nickels are the 1942 to 1945 wartime coins with a large mint mark above Monticello.
- Where is the mint mark on a 1938 Jefferson Nickel?
- On the reverse, to the right of Monticello. On this coin the mark is S, for San Francisco.
- Which San Francisco dates near 1938 are scarcer?
- None. Within five years either side, no San Francisco issue had a smaller mintage than the 1938-S.
- How many 1938-S Jefferson Nickel coins were made?
- 4,105,000.
What to check on your 1938-S
- Make sure the mint mark really is an S. A worn or filled mark can be misread. It's what separates your coin from the 1938-D (5.4 million made).
- Proof or circulation strike? A proof has mirror-like fields and frosted design details and was sold to collectors, not released in change. The 1938 Jefferson Nickel Proof (19,365 made) is the one to compare with.
- Judge the grade under good light. The steps of Monticello are the key: coins with 5 or 6 full steps (5FS / 6FS) sell for large premiums. On the obverse, check Jefferson's cheekbone and hair.
The story of the 1938-S
1938 was the first year of the Jefferson Nickel. San Francisco struck 4,105,000 of them. In 1939 the figure was 6.6 million.
1938-D came to 5.4 million and 1938 came to 19 million, so neither mint's 1938 coin is much scarcer than the other. In the whole series, its mintage sits closest to the 1939-D (3,514,000) and the 1950-D (2,630,030).
Of the 19 Jefferson Nickels San Francisco struck between 1938 and 1970, this is the scarcest. Among the 1930s issues, only the 1939-D had a smaller run.
It also marks a change of metal: 1938 is the first year of the Jefferson Nickel in 75% copper, 25% nickel, which lasted until 2003.
Felix Schlag's new nickel (1938 to 1941)
In 1938 Felix Schlag won the design competition for a new nickel. His portrait of Thomas Jefferson with Monticello on the reverse was released in November. The Mint modified his original design, changing Monticello from an angled view to a straight front view. The 1938-D and 1938-S were saved in rolls by collectors.
The 1939 has a doubled MONTICELLO reverse variety. The 1939-D is a semi-key with 3.5 million made. The reverse hub was sharpened around 1940. Some 1939 and 1940 coins with the older, softer steps are collected as the Reverse of 1938. Collectors grade these nickels by the number of steps on Monticello. Fully struck steps are scarce for many dates. Output climbed to more than 200 million in 1941.
Elsewhere in US coinage in 1938
Felix Schlag's Jefferson nickel replaced the Buffalo nickel after a public design competition.
How to recognize it
Felix Schlag's portrait shows Thomas Jefferson facing left with IN GOD WE TRUST, LIBERTY and the date. The reverse shows the front of Monticello, Jefferson's home, with MONTICELLO and FIVE CENTS below. The mint mark was to the right of the building until 1964 (above the dome on wartime silver nickels) and moved to the obverse, near the date, in 1968. Schlag's initials FS were added below the bust in 1966.
Mintage chart
Specifications
| Series | Jefferson Nickel (1938–2003) |
|---|---|
| Year | 1938 |
| Mint | San Francisco Mint |
| Mint mark | "S" |
| Strike type | Circulation strike |
| Mintage | 4,105,000 |
| Face value | 5¢ |
| Composition | 75% copper, 25% nickel |
| Weight | 5 grams |
| Diameter | 21.21 mm |
| Edge | Plain |
| Designer | Felix Schlag |
Other 1938 Jefferson Nickel issues
| Coin | Mintage | Type | Silver |
|---|---|---|---|
| 1938 Jefferson Nickel | 19,496,000 | Circulation strike | – |
| 1938 Jefferson Nickel Proof | 19,365 | Proof | – |
| 1938-D Jefferson Nickel | 5,376,000 | Circulation strike | – |
| 1938-S Jefferson Nickel | 4,105,000 | Circulation strike | – |
Mintage: United States nickel mintage figures (Wikipedia, CC BY-SA 4.0), compiled from US Mint records and the Guide Book of United States Coins. How we build these pages.