1941 Jefferson Nickel Value Guide

In 1938, the US Mint began striking Jefferson nickels as a replacement for the Buffalo nickels. Because it belongs to a collection of early, pre-war series coins, the value of the 1941 Jefferson nickel is unusually high for a five-cent coin.

Three US mints produced more than 300 million Jefferson nickel in 1941. Despite this high mintage, these coins are still considered collectibles. Sadly, intermediate and advanced collectors still don’t appreciate them, but beginners and enthusiasts will find them outstanding treasures.

What Is the 1941 Jefferson Nickel Made Of?

The Jefferson nickel was created by German-born American designer and sculptor Felix Oscar Schlag and was in use from 1938 to 2004. Thomas Jefferson, the third US President and one of the Founding Fathers, is depicted on the coin.

Image Source: NGC

On the coin’s obverse, in addition to the President’s profile facing left, are inscriptions. The coin’s left side has the inscription IN GOD WE TRUST, while its right side is set aside for the year of minting, 1941. A star separates the date from the most cherished word in American culture, LIBERTY.

Image Source: NGC

On the reverse, the Latin slogan E PLURIBUS UNUM is displayed on the top of the coin rim, with the Monticello mansion in the center. The word MONTICELLO, FIVE CENTS, and UNITED STATES OF AMERICA are all reserved for the bottom portion. You can find the mint mark towards the right side of the Monticello mansion.

1941 Jefferson Nickel Varieties

The 1941 Jefferson nickel has a face value of $0.05 or five cents. It has a plain edge, with a metal composition of 75% Copper and 25% Nickel. The coin has a diameter of 21.20 millimeters and weighs 5.00 grams.

In 1941, these are the varieties of Jefferson nickels produced:

1941 D Jefferson Nickel

Image Source: PCGS

In 1941, the Denver Mint once more produced the best nickels. While exceptions will occur, good overall strikes and superb luster are typical. This is one of the most prevalent Jefferson Nickels with a 5FS or 6FS; such coins are of the best quality. There are a few known repunched mintmark variations, but only FS-501 has garnered significant attention.

The 1941-D Jefferson nickel is common in circulating grades up to and including MS63. Although they are a little tougher on MS64, examples are still readily accessible, even by the rolls. It is still widespread but a little more difficult to locate in M65 condition. The difficulty increases as more samples in the MS66 condition are rated. With only a few hundred samples available in this grade, the MS67 condition is highly rare. It is incredibly hard to locate in MS68, and PCGS has only graded one example in this grade with no finer ones.

The NGC Price Guide on their website states that, as of early 2023, a 1941 Jefferson nickel in the circulated condition is valued between $0.10 and $1.75. But, in pristine and uncirculated condition, this coin can reach up to $200 on the open market.

1941 S Jefferson Nickel

Image Source: PCGS

Despite being common in Mint State, 1941 S Jefferson nickels were so poorly manufactured that it will be challenging to obtain a truly pleasing specimen. Most are lackluster and have faint or hazy details. Due to excessively long die runs, erosion lines that had formed were polished away, taking the shallow design elements with them.

Gems in any die state are rare, but those with either 5FS or 6FS are hard to find. For all denominations except the half dollar, which debuted with the new, Large S punch in 1942, the Philadelphia Mint designed a new S mintmark punch that was phased in during 1941. Large S 1941 S nickels are rare in mint condition and will fetch a significant premium.

The 1941 S Jefferson nickel is common and attainable without paying a hefty premium in circulated grades and up to MS66 condition without exhibiting the Full Steps information on the reverse.

It does get a little harder to find in MS66 with the Full Steps label, and many examples in this condition or above have undoubtedly already been certified. Less than a dozen specimens, none finer, are known to exist in MS67 condition, which is incredibly hard to find.

Upon checking the NGC website, their Price Guide would tell you that a 1941 Jefferson nickel in circulated condition will be worth between $0.10 and $2.10 (as of January 2023). Buying this coin in pristine, uncirculated condition on the open market would cost you as much as $250.

1941 P Jefferson Nickel

Image Source: PCGS

Speculators kept many rolls of 1941 Jefferson nickels, but most of these have since been broken up, and the better coins verified. This issue is widely available in Mint State, but the quality of it varies greatly. Collectors may need to sort through many pieces to get one sharply struck from fresh dies.

According to Ron Guth of the PCGS, “the 1941 Nickel is common in both non-Full Step and Full Step editions. PCGS has graded hundreds in MS65 and MS66. The finest examples certified by PCGS (as of June 2012) include 9 MS67s and a single MS67FS.”

As of January this year, a 1941 Jefferson nickel in the circulated condition is valued between $0.10 and $0.90 (NGC Price Guide). One in pristine, uncirculated condition can reach as high as $500 on the open market.

1941 Proof Jefferson Nickel

Image Source: PCGS

The Philadelphia mint produced a meager 18,720 Jefferson nickel proofs in 1941. Each piece could be struck at least twice thanks to the US Mint’s preparation of highly polished planchets and carefully crafted dies. As a result, you can see even the smallest details on the surfaces of these specimens.

Depending on the quality, you may sell items for anywhere from $18 to $110 each. 1941 No Mint mark PR 68 Jefferson nickel, which fetched an astonishing $18,800 at Heritage Auctions in 2013, is the most expensive.

List Of 1941 Jefferson Nickel Errors

Repunched Mint Mark

In the early 1940s, several errors were made with the little D and S mint marks because workers manually punched them onto working dies. After re-punching, workers frequently doubled or tripled letters, but some collectors reported even pieces with quadrupled marks. Collectors would pay at least $25 for specimens with more drastic errors. The majority of these coins are worth $3 to $5.

Image Source: eBay

Die Cracks

Planchets used for striking coins start cracking once they get too old. These cracks then cut into the die surface, causing raised lines on the coin’s design. Coins with die cracks range widely from $1 to $100.

Image Source: eBay

Off-Center Strike

For a coin to be off-centered, the matrix would have hit 5% to 10% of the design outside the coin’s center. This error would boost the value of a Jefferson nickel. Normally, nickels with this error would cost $8 to $15. However, those with 50% of the design missing might cost up to $100.

Image Source: eBay

How Much Is The 1941 Jefferson Nickel Worth Today?

According to the USA Coin Book, the estimated value of a 1941 Jefferson Nickel would be $0.17 in Average Condition. It can reach up to $0.85 to $13 or more in Uncirculated (MS+) Mint Condition.

If you have a proof Jefferson nickel for this year, you should know it could sell for as much as $107 or even more! NGC estimates this coin’s melt value at $1.35.

To understand how much the 1941 Jefferson nickel coin gets, here’s a comparison table to give you an overview of the auction records for each variety. This is based on the data offered by the PCGS:

How Does The Grading System Work?

The Sheldon Scale is used by numismatists to provide a numerical value to coins. The Sheldon Scale goes from poor (P-1) to perfect mint state (P-1) (MS-70). Coins were originally evaluated using words to reflect their condition (Good, Fair, Excellent, Etc.). Unfortunately, coin collectors and dealers had different ideas about what each of these terms represent.

Professional numismatists joined together in the 1970s and established CoinGrading standards. These numismatists now assign grades at key places on the seventy-point scale, using the most regularly utilized numeric points in conjunction with the original adjective grade. The following are the most common coin grades:

1. 1. • (P-1) Poor – Indistinguishable and probably damaged; if used, must have a date and mintmark; otherwise, rather battered.
      • (FR-2) Fair – Nearly smooth, but without the damage that a coin graded Poor often possesses. The coin must have enough detail to be identified.
      • (G-4) Fair – Inscriptions have merged into the rims in some areas, and important elements have been mostly erased.
      • (VG-8) Very Good- A little weathered, but all of the primary design elements are visible, albeit faintly. There is little if any, central detail left.
      • (F-12) Good – The item is very worn, yet the wear is even, and the overall design details stand out clearly. Rims are almost completely isolated from the field.
      • (VF-20) Very Fine – Moderately weathered, with some finer features still visible. The motto or all letters of LIBERTY are readable. Both sides of the coin have entire rims that are separated from the field.
      • (EF-40) Extremely Fine – Gently used; all gadgets are visible, and the most important ones are bold. The finer details are bold and clear, however, light wear may be seen.
      • (AU-50) Uncirculated – Slight evidence of wear on the coin’s design’s high points; may have contact marks; eye appeal should be adequate.
      • (AU-58) Uncirculated Choice – Slight traces of wear, no severe contact marks, almost full mint shine, and great eye appeal.
      • (MS-60) Mint State Basal – Strictly uncirculated; no indication of wear on the coin’s highest points, but an unsightly coin with reduced luster, visible contact marks, hairlines, and other flaws.
      • (MS-63) Mint State Acceptable – Uncirculated, but with contact scratches and nicks, little reduced shine, but otherwise appealing appearance. The strike is weak to average.
      • (MS-65) Mint State Choice – Uncirculated with great mint shine, very little contact blemishes, and exceptional eye appeal. The strike is unusually severe.
      • (MS-68) Mint State Premium Quality – Uncirculated with superb luster, no obvious contact marks to the naked eye, and exceptional eye appeal. The strike is quick and appealing.
      • (MS-69) Almost Perfect Mint State – Uncirculated with perfect brilliance, a sharp and appealing strike, and extremely good eye appeal. A near-perfect coin with minor imperfections in the planchet, strike, and contact markings (seen only under 8x magnification).
      • (MS-70) Mint State Perfect – Under 8x magnification, there are no tiny imperfections discernible; the strike is crisp, and the coin is perfectly centered on a beautiful planchet. Rarely seen on a coin, this coin is bright and whole, with original luster and exceptional eye appeal.

Where To Buy Or Sell 1941 Jefferson Nickel?

Going to online marketplaces and auction sites like eBay, Amazon, Craigslist, or Esty is the simplest way to buy or sell your 1941 Jefferson nickel. Another option is to go to actual coin or antique stores to look for one. But doing it that way would be more difficult.

Some organizations, such as the PCGS and the NGC, offer expert professional coin grading services to help you determine where and how to buy and sell your 1941 Jefferson nickels.

FAQs

Where is the mint mark on a 1941 Jefferson nickel?

You can find the mint mark on a 1941 Jefferson nickel’s reverse towards the right side of the Monticello mansion. The Philadelphia variants do not bear any mint mark.

Is a 1941 Jefferson nickel worth anything?

According to the USA Coin Book, in average condition, the 1940 Jefferson nickel is about $0.17. Moreover, in uncirculated (MS+) mint conditions, its value can reach as high as $11. Proof coins can sell for as much as $140!

Is a 1941 nickel rare?

With a massive mintage of more than 300,000,000, Jefferson nickels from 1941 are widely available. It is not difficult to locate these coins even in mint condition. Nevertheless, because these coins belong to a collection of early, pre-war series coins, the value of the 1941 Jefferson nickel is unusually high, even for a five-cent coin.