The 1987-S Jefferson Nickel is worth anywhere from $1 in typical proof condition to over $50 for high-grade Deep Cameo specimens. While you won’t retire on this find, these San Francisco minted coins are beautiful collector’s items that often spark a lifelong interest in numismatics for many everyday Americans.

Condition/Grade	Estimated Value
PR 65 (Standard Proof)	$1.50 – $3.00
PR 69 Deep Cameo	$10.00 – $15.00
PR 70 Deep Cameo (Perfect)	$45.00 – $85.00

Understanding the 1987-S Jefferson Nickel

If you have discovered a shiny, mirror-like nickel in a plastic case or perhaps even in a random box of change, you likely have a proof coin. In 1987, the United States Mint produced Jefferson Nickels at three different locations: Philadelphia (P), Denver (D), and San Francisco (S). While the P and D versions were made for general circulation, the “S” mint mark indicates a proof coin. These were specifically struck for collectors using polished dies and specially prepared blanks.

Because these was never intended to be spent in a grocery store, finding one in your pocket change is quite rare, though it does happen when people accidentally break open old coin sets. If you are unsure about the mint mark or the specific variety you have, using a top coin identifier app can help you distinguish between a standard business strike and a polished proof. You can also download CoinKnow to get an instant identification of your coin’s origin.

The San Francisco Mint produced exactly 4,227,728 of these proof nickels in 1987. While four million might sound like a lot, it is a tiny fraction compared to the hundreds of millions produced in Philadelphia and Denver that same year. This scarcity relative to circulation strikes is what gives the 1987-S Jefferson Nickel its base collector value, even if it isn’t a “jackpot” coin.

The Visual Difference: Why Your 1987 Nickel Looks Different

Most 1987 nickels look dull and grey because they have been passed from hand to hand for decades. However, the 1987-S is usually found in a “Deep Cameo” (DCAM) finish. This means the flat background of the coin (the fields) is as reflective as a mirror, while the portrait of Thomas Jefferson and the image of Monticello have a frosted, white appearance. This contrast is what collectors look for when determining the 1987-S Jefferson Nickel value.

When you look at the 1987-S nickel price guide figures, you will notice that “Deep Cameo” coins command the highest premiums. Back in 1987, the minting process had become quite efficient at producing this frosted look. Unlike older proof coins from the 1950s or 60s where the frosted effect wore off the die quickly, most 1987-S proofs still retain this beautiful contrast. If yours looks “foggy” or has scratches (known as hairlines), the value will be on the lower end of the scale.

To see how your coin compares to standard issues, checking the current price trends for 1987-P Jefferson Nickels can provide context. Typically, a standard 1987 nickel from circulation is only worth five cents unless it is in pristine, uncirculated condition. The 1987-S, by contrast, starts at a premium simply because it was born as a collector’s item.

Feature	1987-P or D (Circulation)	1987-S (Proof)
Finish	Satin / Dull	Mirror-like / Frosted
Rarity	Extremely Common	Less Common (Proof sets)
Mint Mark	P or D	S

Grading and the Pursuit of Perfection

In the world of coin collecting, the status of a coin is measured on a scale from 1 to 70. For a proof coin like the 1987-S, anything below a PR 65 is considered “impaired.” This happens if the coin was touched by bare hands (the oils from your skin can damage the mirror finish) or if it was spent and entered circulation. An impaired proof won’t be worth much more than its face value or perhaps the cost of a gumdrop.

The big money is found at the top of the scale. A PR 70 Deep Cameo is a “perfect” coin. Under a magnifying glass, it shows no scratches, no spots, and no imperfections from the minting process. These are the coins that collectors fight over at auctions. If you think your coin might be a candidate for a high grade, using a tool like CoinKnow can help you look at high-resolution examples of what a PR 70 looks like compared to a PR 68.

Many people find these coins in “Proof Sets”—the blue or purple plastic cases issued by the US Mint. If the coin is still in that original plastic, leave it there! Breaking it out can actually decrease the 1987-S Jefferson Nickel value data because the plastic protects the surface from oxidation and physical damage. Even a tiny speck of dust can lower a grade from a 70 to a 69, which can cut the value in half.

Total Mintage and Market Availability

Understanding how many coins were made helps explain why 1987 nickels aren’t worth thousands of dollars. While 4.2 million is a low mintage for a nickel, almost all of them were saved by collectors. Unlike coins from 100 years ago that were lost or worn down, nearly every 1987-S proof nickel minted is still in existence today in relatively good condition.

Because there is a high supply of high-grade 1987-S nickels, the “floor” for the price stays low. You can easily buy a 1987 Mint Proof Set for $5 to $10, which includes the nickel, a penny, a dime, a quarter, and a half dollar. This means the individual value of the nickel is mathematically limited. It only becomes “valuable” in the eyes of a serious collector if it is a “Top Pop” coin—meaning it is one of the highest-graded examples known to professional grading services like PCGS or NGC.

For the average person holding a loose 1987-S nickel, the most likely value is between $1 and $5. It is a great “conversation piece” and a lovely addition to a folder of coins, but it isn’t a retirement fund. However, watching the market is always wise, as prices for high-grade modern proofs have seen a slight uptick as more young collectors enter the hobby.

Mint Mark	Mintage Type	Mintage Quantity
1987-P	Business Strike	371,299,000
1987-D	Business Strike	411,540,162
1987-S	Proof	4,227,728

Key Errors to Look For in 1987 Nickels

While the standard 1987-S nickel has a predictable value, errors can change everything. Errors occur when something goes wrong at the minting facility. For proof coins, errors are exceptionally rare because the quality control for proof sets is much stricter than for standard pocket change. However, rare “Double Dies” or “Off-center strikes” can occasionally slip through.

One thing to look for on a 1987-S is any signs of “doubling” on the lettering or the date. This is caused when the die used to strike the coin has a doubled image. If you find a 1987-S with clear, distinct doubling on the words “IN GOD WE TRUST,” you could be looking at a coin worth hundreds of dollars. Most “doubling” people find is actually “mechanical doubling,” which is common and adds no value, but a true Doubled Die is a major find.

If you suspect you have an error, CoinKnow can be a great resource to compare your coin against known error types. Always handle your coin by the edges to ensure you don’t damage any potential evidence of a rare minting mistake. For most Americans, the excitement of finding a proof nickel in change is the primary “value,” but keep your eyes sharp for those oddities!

FAQ

Q: Why is there an “S” on my 1987 nickel?

A: The “S” stands for the San Francisco Mint. In 1987, this mint only produced proof coins for collectors, meaning your coin was originally part of a special set and not intended for circulation.

Q: Can I find a 1987-S nickel in my pocket change?

A: Yes, it is possible! While they weren’t meant to be spent, sometimes people break open proof sets to spend the money, or they are stolen and spent. If you find one, it will likely be “impaired” (scratched), making it worth about $0.25 to $1.00.

Q: What is the most expensive 1987-S nickel ever sold?

A: Perfect PR 70 Deep Cameo examples have sold for over $100 in the past at major auctions, though most high-grade examples currently sell in the $40 to $60 range depending on the current market demand.

Q: Does my 1987 nickel have “Full Steps”?

A: The “Full Steps” designation is usually reserved for business strike coins (P and D mints) to describe the quality of the strike on Monticello. For proof coins like the 1987-S, the steps are almost always fully visible anyway, so it doesn’t add the same massive value boost it would to a regular 1987-P nickel.