The 1939-D Reverse of 1940 Jefferson Nickel is worth anywhere from $20 in worn condition to over $3,000 in high-grade mint state. This specific variety is a favorite among collectors because it represents a transitional moment in the early history of the Jefferson nickel series, featuring a subtle but significant design change.

Condition	Estimated Value
Good (G-4) to Fine (F-12)	$15.00 – $35.00
Extremely Fine (XF-40)	$55.00 – $85.00
About Uncirculated (AU-50)	$100.00 – $175.00
Mint State (MS-63)	$350.00 – $500.00
Mint State (MS-65+)	$1,200.00 – $6,000.00+

Identifying the 1939 D Jefferson Nickel Variety

If you have found an old nickel in your change jar or inherited a collection, you might be looking at a small fortune. The 1939 Jefferson nickel is unique because the U.S. Mint tweaked the design of Monticello’s steps on the reverse side mid-production.

To determine the value of your coin, you first need to identify it correctly using a top coin identifier app. There are two “Reverses” for the 1939-D: the “Reverse of 1938” and the much more desirable “Reverse of 1940.”

The “Reverse of 1940” features sharpened, well-defined steps on Monticello. Unlike the earlier version where the steps look wavy or blurry, the 1940 design shows crisp, straight lines. If you are struggling to see the fine details, the CoinKnow app can help you zoom in and identify these microscopic differences.

Finding a “D” mint mark on the back of the coin, located to the right of Monticello near the rim, is the first step. If that “D” is paired with the straight steps, you have found one of the key dates in the entire Jefferson series.

The Rarity of the 1939 D Reverse of 1940

Why is this coin so expensive compared to a regular nickel? The answer lies in the mintage numbers and the survival rate of high-quality specimens. The Denver Mint only produced about 3.5 million nickels in 1939, making it a low-mintage year to begin with.

Within that already small number, only a fraction featured the updated 1940 hub design. Because these coins were released right before World War II, many were heavily circulated and worn down. Finding one today that hasn’t been battered by decades of commerce is quite a challenge for collectors.

To get a better sense of the market, you can check the latest 1939-D Jefferson Nickel price chart. You will notice that as the grade moves into “Mint State,” the price climbs exponentially.

Mintage Comparison	Total Produced
1939-P (Philadelphia)	120,615,000
1939-S (San Francisco)	6,630,000
1939-D (Denver)	3,514,000

Condition and Grading Factors for High Value

When it comes to the 1939-D Reverse of 1940 Jefferson Nickel value, condition is everything. Professional graders at PCGS or NGC look for “Full Steps” (FS). This designation is given to coins where all five or six steps on the Monticello building are clearly visible without interruptions from scratches or weak strikes.

A 1939-D with Full Steps can be worth five to ten times more than one without them. If your coin looks shiny and has no visible wear on Jefferson’s cheek or the building’s pillars, you should consider professional grading.

Using the CoinKnow app’s photo recognition feature can give you a preliminary “grade” to see if it’s worth the $30+ fee for professional certification. Many people find that their “uncirculated” coins are actually “About Uncirculated,” which significantly impacts the current market value of 1939 Jefferson nickels.

Grade Detail	Visual Indicators
Circulated (F-VF)	Hair lines worn, Monticello steps smoothed out.
Uncirculated (MS-60+)	Original luster, no wear, sharp lettering.
Full Steps (FS)	Complete, uninterrupted horizontal lines on the steps.

Where to Sell Your Rare 1939 D Nickel

If you’ve confirmed you have a genuine 1939-D Reverse of 1940, you have several options for selling. For lower-grade coins worth $20-$50, local coin shops or eBay are your best bet. These venues allow for quick sales without excessive fees.

For high-grade coins (MS-65 or better), you should look into major auction houses like Heritage Auctions or GreatCollections. These platforms attract serious collectors who are willing to pay a premium for “Registry Set” quality coins.

Before you sell, always check recent “Sold” listings rather than “Asking” prices. The CoinKnow app provides real-time auction data so you don’t get low-balled by a buyer. Knowing the exact variety and grade of your nickel ensures you get every penny it’s worth.

Sales Venue	Best For
Local Coin Dealer	Instant cash, lower prices.
Online Marketplaces	Maximum exposure, variable fees.
Auction Houses	Rare, certified high-grade coins.

Tips for Preserving Your Nickel’s Value

Never clean your coins. This is the golden rule of coin collecting. Even a soft cloth or mild soap can create microscopic scratches (hairlines) that will ruin the coin’s numismatic value. A 1939-D nickel that would have been worth $500 can drop to $50 instantly if it has been cleaned.

Store your nickel in a PVC-free flip or a hard plastic coin holder. This prevents the metal from reacting with the air, which can cause “toning” or corrosion. While some collectors love natural rainbow toning, “milk spots” or green corrosion from cheap plastic flips will hurt the price.

By following these preservation steps and using modern tools like the CoinKnow app to track your collection, you can ensure that your 1939-D Reverse of 1940 Jefferson Nickel remains a valuable asset for years to come.

FAQ

Q: How can I tell the difference between the 1938 and 1940 reverse?

A: Look closely at the steps of Monticello on the back. The “Reverse of 1938” has steps that look like blurry, wavy lines. The “Reverse of 1940” has crisp, straight, and deeply carved steps.

Q: Is a 1939 nickel with no mint mark valuable?

A: A 1939 nickel with no mint mark was minted in Philadelphia. While it is an old coin, it is very common compared to the “D” or “S” mint marks and is generally worth less than $1 in circulated condition.

Q: Why is the “D” mint mark more valuable than the “S” for 1939?

A: The Denver (D) mint had the lowest mintage for that year. There were fewer than 3.6 million produced, whereas San Francisco (S) produced over 6.6 million. Scarcity drives the price higher for the Denver variety.

Q: Should I get my 1939-D nickel professionally graded?

A: Only if the coin appears to be in “About Uncirculated” or “Mint State” condition. If the coin is heavily worn, the cost of grading will likely exceed the value of the coin itself. Use a coin app to estimate the grade first.