The 1958 Jefferson nickel is worth $0.67 in uncirculated condition and grade MS 60. In brilliant uncirculated condition, it is worth $13 when graded MS 65. The Jefferson nickel of 1958 also has proof coins which are worth $7.88 when graded PR 65.
The Jefferson nickels without the mint marks are scarcer than the ones marked with the D. And they didn’t carry a mint mark. The 1958 D Jefferson nickel is worth $0.45 in uncirculated condition and graded MS 60. In brilliant uncirculated condition graded MS 65, it is worth $13.
If you are new to coin collecting and have been doing some research, you’d have noticed the unusual nature of the 1958 Jefferson Nickel production. This nickel was produced in only two mints, the Denver and Philadelphia factories. And fewer nickels were produced in Philadelphia than in Denver. The nickels also have proof of coins minted in that year too for the purpose of purchase by collectors.
The 1958 Jefferson Nickel
If you are in search of an esoteric US coin, you will find it in the 1958 Jefferson nickel. This nickel features the design from the original design which began in 1938. They also feature the metal composition of copper and nickel.
Have you ever wondered why it’s called a nickel? The name is traced back to Germany when miners found a brown-red ore that they thought was
What the 1958 nickel lacked for mint production and population, it made up for the number of error coins. In the course of this article, you will encounter all the error coins there are for the 1958 nickel and how to identify them.
Another thing that makes the 1958 nickel important to collectors and dealers is that even though it was not a special coin in the realm of US coins, it was one of the lowest numbers minted in the nickel series. They were also struck in poor condition which is why they are difficult to find in MS 66.
Most importantly it is that you understand the value of this nickel and the various attributes that make the coin super rare and valuable. Once your coin meets these criteria you can watch its value of the coin rise exponentially.
History
The Jefferson nickel is a 5-cent coin. It began its life in 1938 to replace the Buffalo nickel which was first struck in 1913. First, the United States mint organized a design competition for a $1000 prize early that year in 1938. The Mint wanted to see the competitors depict Jefferson on the obverse and his house, Monticello on the reverse.
The Monticello was Jefferson’s plantation located outside Charlottesville in Virginia. Designer Felix Schlag won the competition when the mint loved his design the most out of 390 entries.
The first design by Schlag had a tree standing beside the Monticello but the mint asked that it be removed which he did. The design was changed so that the house was viewed head-on.
By mid-July, the designs were submitted to the Commission of Fine Arts for their recommendation and it was approved. Originally, the production of the nickel began in the three mints, Denver, Philadelphia, and San Francisco.
At first, the nickels were hoarded by the public until 1940 when folks started spending them. In 1939 adjustments were made in the strike so that the steps in the Monticello which were fuzzy in earlier strikes became sharper and you could actually count how many steps there were—six. This detail has constituted a test for nickel collectible since then.
| 1958 Jefferson Nickel | |
| Location | Mintage |
| Philadelphia | 17,963,652 |
| Denver | 168,249,120 |
| Proof Coins | 875,652 |
In 1958 the Philadelphia and Denver mint produced the Jefferson nickel. The one produced in the Philadelphia mint had no mint mark on it while the Denver nickel had a D on the right side of Monticello.
The Denver mint struck over 168 million nickels that year. The Philadelphia mint produced a little over 17 million. Collectors and investors in coins love this low mintage and would also love to watch the nickel reach a point where it is extremely scarce because this causes its value to rise.
| 1958 Jefferson Nickel Composition | |
| Metal Composition | 75% copper, 25% Nickel |
| Mass/Weight | 5 grams |
| Diameter | 21.2mm |
| Mint Mark | D |
| Edge | Smooth |
| Designer | Felix Schlag |
When referring to the nickel it is also called cupronickel in reference to the combination of copper and nickel. From the late 1700s till the late 1800s the nickel was also called a silver half dime considering that it had a different composition from the 1958 nickel.
All down history the nickel has gone through different design changes. Especially the reverse. Changes in the composition are usually influenced by the economy and the price of metals. Or sometimes wars like it did in the 1940s when the country joined the world war and intensified efforts to win it.
Design
Before the nickel with Jefferson’s bust on the obverse, there was the Buffalo nickel with the right profile of a Native American designed by James Earle Fraser. It was this design that was discontinued in 1938 to usher in the Jefferson bust. And yes, that coin has the image of an American bison on the reverse.
Obverse
The obverse shows the image of Jefferson facing left. He is seen with a lock of hair behind his head. His image takes up most of the space on the surface. There are letterings on it: IN GOD WE TRUST and LIBERTY in block letters. The date 1958 follows after the word LIBERTY.
The obverse of the nickel places emphasis on the image of Jefferson.
Reverse
The reverse shows the design by the same designer as the obverse. You can see the image of Jefferson’s plantation house, Monticello, in fair detail. The house stretches from one side of the coin to the other. Atop the house are the words E PLURIBUS UNUM, and below the house name of it in block letters, MONTICELLO beneath that is FIVE CENTS, and after that are the words the UNITED STATES OF AMERICA.
Mints
1958 was one of the years in which only two mints were in the business of producing coins—the Philadelphia and Denver mint. In many cases, the mint location where nickel is produced makes it more valuable than the other. It is the custom of the Philadelphia mint to make coins without mint marks.
Collectors most often favor the mark on the coin and would value the one with the D mark more. Some marks are more unusual than others, as in the case of error coins.
Philadelphia Mint
The Philadelphia mint made the coin above. It has no mint mark which would have been on the right side of the Monticello. They made more than 17 million of these coins with a composition of 75% copper and 25% nickel. The designs by Felix Schlag are on the obverse and reverse. There are no special features on this coin. The Philadelphia mint also made some proof coins in that year and they are worth $7.88 at grade PR 65.
Denver Mint
The Denver mint produced more than 168 million nickels in 1958. They put the D mark on the corner right of the Monticello. This coin also features the design by Felix Schlag. Note that the 1958 nickel doesn’t have the designer’s initials on it because Felix Schlag may have forgotten to put it when he was asked to make adjustments in the design in 1938.
Later nickels using his design would come to have his initial. The Denver mint didn’t make any proof coins this year. Though this coin was made in large numbers, you can hardly find pocket change today.
1958 Jefferson Nickel Error Coins
If you find a weird looking 1958 nickel in your pocket change you should definitely keep it for further checks. You may have a coin that’s worth more than you think. The value however depends on whether it falls within the following error distinctions. Also, note that error coins are very rare and don’t turn up easily.
Some oddities that you see on coins are simply damages that happened to the coin outside the mint. The errors that count are the ones that happened while the coin is being struck.
1958 Jefferson Double Die Nickel
The most popular error you will find on coins is the double die. This means an error in the strike when the coin was being struck causing the feature on the nickel to appear twice. You may find a doubling in the lettering or the edge of the image on the obverse. Most of the double dies are worth about $20. It is rare to find any that attract a premium price. See below for examples.
1958 Jefferson Nickel Off-Center
A coin is off-center if you notice one side of the rim is thicker than the others. If a portion of the coin is missing but in a crescent shape, it is also an off-center coin. This happens when the die is misaligned or when the coin is not placed in the center of the die properly. You also have to check the degree of skewness. Most are between 1% and 3% and aren’t worth much. Errors of up to 10% skewness can attract more premium prices.
1958 Jefferson Nickel Die Breaks
The die break refers to cracks and fissures in aging dies that are transferred to the coin during the strike. They appear as lines and bumps on the nickel. The value of a die break depends on its severity. Minimal ones don’t attract huge prices. The magnitude and position are what determine how much value the coin has.
1958 Jefferson Nickel Repunched Mint Mark
This error occurs when the mints still placed mint marks manually onto the coin. So it happens that the mint mark could sometimes be placed wrongly or in an incorrect position. When this happens the mint mark would be repunched rather than disposed of.
Grading The 1958 Jefferson Nickel
The best way to determine the Value of your nickel is to have it examined by a coin expert. You can employ the services of a coin grader or learn the rudiments. If you have ever wondered how coins are graded, below is a summary of how it is done. A coin is either valued for being uncirculated or circulated.
Uncirculated
This means the coin is in its mint state, the state it was when it was produced in either of the mints; Philadelphia, or Denver. It also refers to the fact that the nickel was never in circulation or it didn’t make it into pocket change.
About Uncirculated
A coin can be About Uncirculated in the sense that it is nearly uncirculated in condition. It spots a little wear here and there. The scratches are from when the coin rubs other coins. It is tagged AU 50, and it is usually not an appealing coin.
AU-58 (Very Choice About Uncirculated)
This is like the grade above but this coin has no contact and shows almost a full luster.
Mint State (MS 60)
This coin is uncirculated but has many scratches and contact marks. It has no luster and is not appealing to the eyes.
Choice Brilliant Gem Uncirculated (MS 65)
This coin is so good it has almost all its luster and shows almost no sign of wear, or contact marks.
Premium Quality Mint State Uncirculated (MS 68)
To the naked eyes, coins or nickels graded MS 68 have no contact marks. The details are sharp and very attractive.
All But Perfect Mint State Uncirculated (MS 69)
The nickel shows a perfect luster and strike. You only find contact marks on this coin when you examine it under a microscope of eight times magnitude.
Perfect (MS 70)
This is a totally flawless nickel. The coin also doesn’t show any errors on it. The planchet on which it is struck is perfect. This sort of nickel is a collector and dealer’s favorite.
Proof (PR 65)
This grade is for proof coins. They share characteristics with the choice Brilliant Gem Uncirculated MS 65 coins. You can tell proof by its mirror-like appearance.
Circulated
This refers to coins that were found in pocket change. Nickels that were used by the public are usually not as valuable as uncirculated coins because they are usually severely worn.
1958 Jefferson Nickel Value
Generally, coins are antique, and the older antiques get, the more valuable they become. The value of coins is not static. The 1958 Jefferson Nickel is no different in this regard. Furthermore, a graded coin usually sells better than an ungraded one so if you have the 1958 Jefferson Nickel or the one marked D, and you wonder what it’s value of it is, here are real prices in a chart.
1958 No Mint Mark Jefferson Nickel Value
This is the regular strike Jefferson nickel which was minted in Philadelphia. Only more than 17 million of it was made. PCGS sold one of these coins at a whopping $13,513 in 2019. It was graded MS 66+.
Quality |
Price |
MS 63 |
|
MS 64 |
|
MS 65 |
|
MS 66 |
|
MS 66+ |
1958 D Jefferson Nickel Value
The Jefferson Nickel that was struck in Denver in 1958 has a mint mark D on the right corner of the coin right next to the Monticello. More than 168 million of this marked coin were struck that year. Heritage Auctions sold one for more than $6000 in 2008 that was graded MS 67. See the chart below for more on this.
Quality |
Price |
MS 63 |
|
MS 64 |
|
MS 65 |
|
MS 66 |
|
MS 66+ |
|
MS 67 |
|
MS 67+ |
5 Most Valuable 1958 Jefferson Nickel Ever Sold
| 5 Most Valuable 1958 Jefferson Nickel | ||||
| No. | Type | Condition | Sold Date | Price |
| 1 | 1958 Jefferson Nickel | MS66 Full Steps | Apr 28, 2016 | $8,225.00 |
| 2 | 1958 Jefferson Nickel | PR68 Deep Cameo | Jan 9, 2013 | $8,225.00 |
| 3 | 1958 5C | PR69 | May 10, 2007 | $7,475.00 |
| 4 | 1958 Nickel | PR69 Deep Cameo | Jun 6, 2022 | $7,200.00 |
| 5 | 1958 Jefferson Nickel | PR68 Deep Cameo | Apr 24, 2013 | $7,050.00 |
1. 1958 Jefferson Nickel, MS66 Full Steps Sold on Apr 28, 2016 for: $8,225.00
2. 1958 Jefferson Nickel, PR68 Deep Cameo Sold on Jan 9, 2013 for: $8,225.00
3. 1958 5C PR69 Sold on May 10, 2007 for: $7,475.00
4. 1958 Nickel, PR69 Deep Cameo Sold on Jun 6, 2022 for: $7,200.00
5. 1958 Jefferson Nickel, PR68 Deep Cameo Sold on Apr 24, 2013 for: $7,050.00
Where To Sell Your 1958 Jefferson Nickel
You can sell your coin anywhere from online auctions to offline yard sales. The following websites are some of the best places to post pictures of your coin for sale:
- eBay
- Etsy
- JM Bullion
- Heritage Auctions
You can also sell offline:
- Pawnshops
- Yard sales
- Auction houses
Bottom Line
The 1958 Jefferson Nickel is not on most collectors and dealers top 10 nickels. Yet as you can see, this has not stopped some owners of the coin from making good money selling the coins. If you have this nickel in your collection you should definitely take a second look at it. Your coin will surely fall in one of the grades outlined above. Every grade attracts a certain value which means your coin is always worth some amount of dollar or the other.
