The 1938 D Jefferson Nickel is a special coin in U.S. history. It marks the very first year of the Jefferson nickel series and was made at the Denver Mint—that’s where the “D” comes from. This coin replaced the famous Buffalo nickel, starting a new chapter in American coin designs.
With a low number of coins made and a fresh design that honors Thomas Jefferson and his home Monticello, this nickel is a favorite for coin collectors.
A Quick Look at Its History
In 1938, the U.S. Mint needed a new design after 25 years of making Buffalo nickels. They held a contest, and artist Felix Schlag won. His winning design showed:
- Front (Obverse): A left-facing portrait of Thomas Jefferson.
- Back (Reverse): Monticello, Jefferson’s home in Virginia.
Only 5,376,000 of these nickels were made in Denver that year. That may sound like a lot, but for coins, it’s on the lower side, which adds to its value.
1938 D Jefferson Nickel Details
| Feature | Info |
|---|---|
| Mint Mark | D (Denver) |
| Total Made | 5,376,000 |
| Metal Mix | 75% Copper, 25% Nickel |
| Weight | 5 grams |
| Diameter | 21.2 mm |
| Edge | Plain |
| Designer | Felix Schlag |
How Much Is the 1938 D Jefferson Nickel Worth?
The coin’s value depends on its condition and whether it has “Full Steps” on Monticello—this means the steps on the building’s front are fully visible and well struck, which is rare.
Circulated Coins (Used)
- Good (G): $0.46
- Fine (F): $1.08
- Extremely Fine (XF): $2.42
Uncirculated Coins (Like New)
- Mint State (MS-60): $10+
- Superb Gem (MS-65): $550–$600
- Full Steps (MS-65 or higher): Up to $33,600! (record auction price in 2022)
Why Is This Coin Valuable?
- Low Mintage: Only a little over 5 million were made, making it scarce.
- Full Steps Bonus: Coins with sharp, clear steps on Monticello are rare and worth much more.
- First-Year Appeal: Being the first Jefferson nickel ever adds historical importance.
Collector Tips
- Look for Full Steps: Use a magnifying glass to check Monticello’s steps.
- Get It Graded: Send your coin to NGC or PCGS to find out its true value.
- Buy Smart: Always buy from trusted coin shops or auction houses to avoid fakes.
- Condition Is Key: The better your coin looks, the more it’s worth.
Conclusion
The 1938 D Jefferson Nickel is more than just pocket change. It’s a historic and collectible coin that represents the beginning of a long-running series. With its low mintage, strong design, and the potential for high value—especially in Full Steps condition—this coin is a must-have for collectors, new or experienced.
If you find one in your collection or pocket change, take a closer look—you might be holding a hidden treasure.
FAQ’s
What does the “D” mean on the 1938 D Jefferson Nickel?
It stands for the Denver Mint, where the coin was made.
What are “Full Steps” on a Jefferson Nickel?
“Full Steps” means the steps on Monticello are fully visible and well struck—this makes the coin much more valuable.
Is the 1938-D Jefferson Nickel rare?
Yes, it has a low mintage and is considered scarce, especially in high grades or with Full Steps.
