The 1939 Jefferson Nickel with no mint mark is worth anywhere from $1 in circulated condition to over $1,500 in pristine mint state. If you have found one of these vintage coins in your pocket change or an old jar, you are looking at a classic piece of American history from the second year this design was ever produced.

Condition Grade	Estimated Market Value
Good to Fine (Circulated)	$0.75 – $2.50
Extremely Fine (XF 40)	$5.00 – $10.00
Uncirculated (MS 63)	$25.00 – $45.00
Gem Uncirculated (MS 65+)	$150.00 – $1,500+

Identifying Your 1939 Philadelphia Jefferson Nickel

If your 1939 nickel has no small letter “D” or “S” on the back side near the building, it was minted in Philadelphia. During this era, the Philadelphia Mint did not use a mint mark on nickels. It is the most common variety of that year, but because it is nearly 85 years old, finding one in high quality is becoming increasingly difficult for the average person.

Identifying coins can be tricky for beginners, especially when trying to differentiate between a common strike and a rare variety. To make things easier, you can use a top coin identifier app to instantly recognize your find. Simply snapping a photo can often reveal hidden details you might miss with the naked eye.

When you look at the front (obverse) of the coin, you will see Thomas Jefferson facing left. On the back (reverse), you see Monticello, Jefferson’s Virginia estate. The “No Mint Mark” version is a staple for any collection, and many people use CoinKnow to keep track of their growing nickel sets and market movements.

The Importance of General Condition and Grading

The value of a 1939 nickel is driver almost entirely by its condition. Coins that have been passed from hand to hand for decades are considered “circulated.” These will have wear on Jefferson’s hair and the pillars of Monticello. While a heavily worn 1939 nickel is only worth a small premium over its five-cent face value, a “Mint State” coin can be quite lucrative.

Collectors use a 1-to-70 scale to grade coins. Most nickels found in change today fall between 4 and 20. If you find one that still looks shiny and brand new, it might be an uncirculated specimen. Check the 1939 Jefferson nickel price chart to see how the value jumps significantly once a coin reaches the MS 65 grade or higher.

To help you estimate what your coin might be worth at home, refer to the following guide on grading terms often used by professional numismatists:

Grade Designation	Appearance Details
Good (G)	Heavily worn; outlines are clear but details are flat.
Fine (F)	Some hair detail remains; pillars on Monticello are visible.
About Uncirculated (AU)	Small traces of wear on high points; mostly original luster.
Mint State (MS)	No wear at all; looks like it just came from the mint.

Special 1939 Jefferson Nickel Reverse Types

One fascinating aspect of the 1939 Jefferson Nickel is that there are actually two different designs for the back of the coin used that year. These are known as “Reverse of 1938” and “Reverse of 1940.” The Philadelphia Mint (no mint mark) produced both types, and collectors pay very close attention to which one they are buying.

The Reverse of 1938 features “wavy” steps on Monticello. The steps appear slightly blurry or curved. In late 1939, the mint modified the design to make the steps straighter and more defined, known as the Reverse of 1940. Generally, the 1938 wavy-step version is more common for Philadelphia, but the 1940 straight-step version carries a higher premium in top-tier grades.

If you are unsure which variety you have, the CoinKnow app can help you zoom in on those tiny details. Distinguishing between these two can be a matter of hundreds of dollars if the coin is in high-grade condition. Many sellers use this 1939 Jefferson nickel value guide to price their collections accurately before listing them for sale.

Full Steps Designation and Premium Value

For serious nickel collectors, the “Full Steps” (FS) designation is the holy grail. On the reverse of the coin, Thomas Jefferson’s home, Monticello, has a set of steps. Because this was a high point of the design, the metal often didn’t fill the die completely, or the steps were worn away quickly during circulation.

A 1939 nickel is considered “Full Steps” if there are five or six crisp, uninterrupted horizontal lines making up the staircase. A 1939 Philly nickel with Full Steps in a high grade like MS 66 or MS 67 can sell for thousands of dollars at auction. This is because so few of them were struck with that level of detail and preserved so well.

Condition	Non-Full Steps Value	Full Steps Value
MS 64	$35	$80
MS 65	$60	$175
MS 66	$125	$450
MS 67	$400	$2,800+

Why You Should Keep Your 1939 Nickels

Even if your 1939 nickel isn’t a “Full Steps” specimen worth thousands, it is still worth more than five cents. In the world of coin collecting, “Pre-1960” Jefferson nickels are becoming harder to find in circulation. As silver prices rise and older coins are pulled from circulation by collectors, these 1930s era nickels will likely continue to appreciate slowly over time.

Most people who find these in their change simply set them aside in a small box. While it may not make you rich overnight, it is a great way to start a hobby. Using tools like CoinKnow allows you to catalog these finds and see how their value grows year over year. A common circulated 1939 nickel might be worth 50 cents to a dollar today, but that’s still 10 to 20 times its original face value!

1939 Jefferson Nickel Value FAQ

Q: Is a 1939 nickel silver?

A: No, the 1939 Jefferson Nickel is composed of 75% copper and 25% nickel. The “war nickels” that contain 35% silver were only produced between 1942 and 1945. You can identify silver nickels by the large P, D, or S mint mark located directly above the dome of Monticello.

Q: Where is the mint mark on a 1939 nickel?

A: On the 1939 nickel, the mint mark (if there is one) is located on the reverse side, to the right of the building (Monticello), between the building and the rim. If there is no letter there, the coin was minted in Philadelphia.

Q: What is the “Double Monticello” error for 1939?

A: The “Doubled Die Reverse” (DDR) is a famous and valuable error for the 1939 Philadelphia Nickel. It shows clear doubling on the words “MONTICELLO” and “FIVE CENTS.” If you find a 1939 nickel with this error, it can be worth $100 even in worn condition and over $500 in high grades.

Q: Is it worth getting my 1939 nickel professionally graded?

A: Professional grading by companies like PCGS or NGC is usually only worth the cost if the coin is in exceptionally beautiful, uncirculated condition, or if it is the rare Doubled Die Reverse variety. For most circulated coins found in change, the grading fees would cost more than the coin is worth.