The 1987-P Jefferson Nickel is worth anywhere from its $0.05 face value in worn condition to over $500 in high-grade mint state with Full Steps. While most of these coins found in your change today are only worth five cents, certain rare conditions can make them quite valuable to serious collectors.

Condition / Grade	Estimated Value
Circulated (Average Wear)	$0.05
Uncirculated (MS60-MS64)	$1.00 – $5.00
Gem Uncirculated (MS65+)	$15.00 – $45.00
MS67 Full Steps (Rare)	$450.00+

Understanding the 1987-P Jefferson Nickel Mintage

If you’ve just found a shiny nickel from 1987 with a small “P” above the date, you might be wondering if you’ve struck gold. In 1987, the Philadelphia Mint produced 410,556,000 Jefferson Nickels. Because these coins were minted in such massive quantities, they are extremely common in everyday pocket change.

For most casual hunters, identifying a rare coin requires more than just looking at the date. Using a top coin identifier app can help you distinguish between a common nickel and a high-grade specimen. Most 1987-P nickels you find in the wild have been circulated, meaning they have thousands of scratches and dull surfaces from being handled for decades.

In the numismatic world, the term “Uncirculated” is key. A coin that has never been spent and retains its original mint luster is worth significantly more than a pocket-worn coin. However, even among uncirculated coins, tiny details like the sharpness of Monticello’s steps can drastically change the price. If you aren’t sure about your coin’s condition, the CoinKnow app can provide instant visual comparisons to help you grade it.

Current Market Value for 1987-P Nickels

When looking at the 1987-P nickel price data by grade, we see a massive spike once we reach the “Mint State” levels. For a 1987-P nickel to be worth more than five cents, it usually needs to be in a condition where no wear is visible under a magnifying glass. Professionals use the Sheldon Scale, which ranges from 1 to 70.

Most 1987 nickels in MS65 condition are quite affordable, usually selling for around $10 to $20. These are the coins often found in original government-issued Mint Sets. However, as the grade moves up to MS66 or MS67, the population of available coins drops significantly, pushing the value into the hundreds of dollars.

Grade (Sheldon Scale)	1987-P Price Estimate
MS63	$2.00
MS65	$12.00
MS66	$35.00
MS67	$150.00

The “Full Steps” Designation for 1987-P Nickels

If you want to find the true “Holy Grail” of 1987 nickels, you need to look at the reverse (back) of the coin. Specifically, look at the steps of Monticello, Thomas Jefferson’s home. In most strikes from the 1980s, the dies were slightly worn, resulting in the steps looking like a smooth blob.

A coin designated as “Full Steps” (FS) must have five or six distinct, uninterrupted horizontal lines on the stairs. These are incredibly rare for the 1987-P issue because the quality control at the Mint was not as tight as it is today. You can check the 1987 nickel value and FS rarity details to see how much of a premium these coins command.

An MS67 Full Steps 1987-P Jefferson Nickel is a rarity that can sell for over $500 at auction. Collectors are willing to pay a premium for “fully struck” coins because they represent the absolute best of that year’s production. If you think your nickel has clear lines on the back, use CoinKnow to zoom in and compare your coin against certified Full Step examples.

Notable 1987-P Nickel Errors to Look For

Error coins are the wildcards of the coin collecting world. Because millions of nickels were being pumped out of the Philadelphia Mint in 1987, mistakes were bound to happen. If you find a coin that looks “weird,” it might be an error rather than just damage.

One common error is the “Off-Center Strike,” where the coin blank (planchet) was not centered correctly when the hammer die hit it. If part of the design is missing and you see a blank crescent of metal, you have an off-center error. Small 5-10% off-center strikes might fetch $5-$10, while a 50% off-center strike with a clear date can be worth $50 to $100.

Another error to watch for is “Clipped Planchets,” where the coin looks like a bite was taken out of the edge. Also, look for “Die Cracks”—raised lines caused by the minting die breaking during production. Using the CoinKnow app can help you identify if your error is a known variety or just “post-mint damage” caused by a washing machine or parking lot wear.

Error Type	Average Market Value
50% Off-Center Strike	$75.00 – $125.00
Clipped Planchet	$15.00 – $30.00
Broadstruck (No Rim)	$10.00 – $25.00

How Condition Affects the 1987-P Value

For the everyday American, the difference between a “Good” coin and a “Choice Mint State” coin can be hard to see. A coin in “Good” condition has been heavily circulated; Jefferson’s hair will be flat, and the pillars of Monticello will be blurred. These are only worth face value.

“About Uncirculated” (AU) coins show just a hint of wear on the highest points, such as Jefferson’s cheekbone. These might be worth 10 to 25 cents to a hobbyist filling an album. However, the real value only begins once the coin reaches MS60. At this stage, there is absolutely no wear from circulation, though there may be “bag marks” from the coin hitting other coins at the Mint.

If you find a 1987-P Jefferson Nickel that looks exceptionally bright and clean, handle it only by the edges. Touching the face of the coin with your fingers can leave oils that eventually turn into ugly dark spots, destroying the “eye appeal” and crashing the value. High-end collectors value original luster above almost everything else.

Is it Worth Getting My 1987 Nickel Graded?

Grading a coin involves sending it to a professional service like PCGS or NGC to have it authenticated and sealed in a plastic slab. This process usually costs between $30 and $50 per coin, including shipping and insurance. Therefore, you should only grade a 1987-P Jefferson Nickel if you are confident it will achieve a very high grade.

If you have a nickel that looks perfect and has those elusive “Full Steps,” it is absolutely worth the investment. An MS67 Full Steps specimen is a registry-set quality coin. However, for 99% of 1987 nickels, the cost of grading will be much higher than the coin itself is worth.

Before spending money on professional grading, use digital tools to vet your find. Comparing your coin to high-resolution photos of certified winners can save you a lot of money and heartbreak. Most collectors only grade 1987 nickels if they believe the coin is worth at least $100.

Conclusion: The Future of 1987 Nickels

While the 1987-P Jefferson Nickel isn’t the rarest coin in American history, it remains a pillar of 1980s numismatics. As time goes on, original, high-grade specimens from this era become harder to find because most have already been beaten up in circulation or lost.

If you are a beginner, start by looking for coins with the “P” mint mark that still have a “mirror-like” shine. Even if they aren’t worth hundreds of dollars today, they are a piece of history and a great way to start a collection without spending a fortune. Keep your eyes peeled for those crisp steps on the back—you never know when a rare treasure might land in your hand at the grocery store!

FAQ

Q: Where is the mint mark on a 1987 nickel?

A: On the 1987 Jefferson Nickel, the mint mark is located on the obverse (front) of the coin. It is positioned just to the right of the year 1987, near the bottom right of Jefferson’s portrait. “P” stands for Philadelphia, and “D” stands for Denver.

Q: What is the most ever paid for a 1987-P nickel?

A: The record price for a 1987-P Jefferson Nickel is over $1,000 for a specimen graded MS67 with Full Steps by a major grading service. Prices fluctuate based on market demand and the specific auction house.

Q: Should I clean my 1987 nickel to make it worth more?

A: No! Never clean your coins. Professional collectors and dealers can instantly tell if a coin has been cleaned, and it significantly reduces the value—often by 50% or more. Original patina and luster are much more valuable than a chemically scrubbed coin.

Q: Why is the “P” mint mark important?

A: In 1987, both Philadelphia and Denver produced nickels. While neither is inherently “rare,” the striking quality at Philadelphia that year was often lower, making high-grade “Full Step” versions of the 1987-P particularly desirable to collectors compared to the Denver versions.