1964 Jefferson Nickel

The world of study and collection of coins is rich with fascinating stories and intriguing artifacts. Among the most intriguing U.S. coins is the 1964 Jefferson Nickel. This particular coin holds a special place in history due to its high mintage and unique design features. In this article, we will explore the history, varieties, values, and factors that affect the worth of the 1964 Jefferson Nickel.

The History of the 1964 Jefferson Nickel

The 1964 Jefferson Nickel is an interesting coin due to its high mintage. The original design for the Jefferson nickel was selected in a contest. Felix Schrager won that contest, and his coin featured the left side of Thomas Jefferson's head on the obverse and his Monticello plantation home on the reverse. The coin is still in production today, although the design has since changed slightly.

The 1964 Nickel was minted during a period of high demand for circulating coinage in the United States, resulting in a large number of coins being struck. The high minting rate is why most 1964 nickels in average or worse condition only sell for their face value.

1964 Nickel Varieties and Features

The 1964 Jefferson Nickel was designed by Felix Schlag and produced by the Philadelphia Mint (no mint mark) and the Denver Mint (marked with a small ‘D’ mint mark). Consisting of a nickel outer layer and a copper core, the coins have a distinctive metallic appearance, and 1964 was the highest mintage year, resulting in a large number of coins in circulation.

Factors Affect 1964 Nickel Values

The value of 1964 nickels ranges from 5 cents to a few dollars in face value, depending on their condition and rarity. Uncirculated or high-grade nickels, especially those with complete steps from Monticello, can be worth much more. In addition, 1964 mintmarks (e.g., those with double dies on the obverse or reverse) are highly sought after and can be purchased by collectors at much higher prices.

1964 Jefferson nickels are very popular among collectors, in part because of their high mintage and their place in U.S. numismatic history. While most 1964 nickels are worth face value, certain factors such as mint mark, condition and special features can increase their value.

This provides a quick overview of the key features influencing the value of 1964 Jefferson nickels.

1.Mint Marks: Denver Mint and Philadelphia Mint

In 1964, both the Philadelphia Mint and the Denver Mint produced Jefferson nickels. The Denver Mint produced coins with a small ‘D’ mint mark to the right of Monticello on the reverse. The Philadelphia Mint produces coins without the 1964 mint mark.

Denver Mint (‘D’ mint mark): Some 1964 nickels with the ‘D’ mint mark may command a premium, especially if they are high grade or have specific features such as complete steps).

Philadelphia Mint (no mint mark): Although more common, 1964 nickels struck at the Philadelphia Mint can still be valuable if they are in perfect condition or have obvious mint errors.

2.Condition of coins: circulated and uncirculated

The condition of 1964 nickel coins has a significant impact on their value. Coins are classified by coin grade, which ranges from mint (P-1) to mint (MS-70).

Condition: Most 1964 nickels in circulation are worn, so they are worth only face value. However, if some well-preserved circulating nickels are free of major flaws, they may still appreciate in value.

Uncirculated: Coins in uncirculated condition, especially those graded by the Professional Coin Grading Service (PCGS) or the Numismatic Guarantee Corporation (NGC), are worth more. Mint condition (MS) nickels, especially those in MS-65 or higher grades, are favored by collectors for their luster and crisp detail.

3.Full Grade Nickels

One of the most important features collectors look for on 1964 Jefferson nickels is the ‘Full Step’ (FS) mark. ‘Full step’ refers to the clarity and sharpness of the Monticello step on the reverse of the coin.

To achieve the ‘Full Step’ level, all five or six steps leading up to Monticello must be fully visible and intact. This feature is very rare, as it is susceptible to wear during circulation or improper minting at the mint.

Uncirculated Full Steps nickels are much more valuable and command much higher prices than non-Full Steps coins of the same grade. For example, a 1964 nickel with a ‘D’ mint mark and a Full Steps grade of MS-65 can sell for several hundred dollars.

4.Mint Errors

Like many coins of this era, the 1964 nickel has a number of mint errors that can greatly increase its value. Some common errors to look out for include:

Off-center polishing

If a coin has an off-center design that leaves part of the surface blank, it can be very valuable, especially if the date is still visible.

Die Cracks

Cracks or breaks in the die used to strike the coin will leave raised lines on the nickel, increasing its collector value.

Strike-Through Errors

This occurs when foreign objects such as grease or debris are present on the die, causing the coin's design details to be missing or discolored.

Rare Errors and Special Strikes in 1964 Nickels

Certain 1964 nickels are highly valuable due to rare errors and special strikes. Notable errors include the Wide Strike Nickel, where the edge is incomplete, and the Quadruple Strike and Triple Eccentric Nickel, where the strikes are misaligned. Other rare errors include the Late Broken Error, where the design is partially printed on the opposite side, and the 1964 Nickel Struck on a 10-Cent Coin, caused by a foreign billet cake. These errors, especially when combined with sharp details and minimal wear, can significantly boost a coins value.

Specially struck 1964 nickels are also prized, such as those made with polished dies and a satin finish. Double-die obverses and reverses, where the design is doubled due to die misalignment, are also sought after. These errors and special features can make 1964 nickels highly valuable in the numismatic market, especially when rated highly in grading standards.

5.Material: copper-nickel alloy

The 1964 nickel is made of a cupro-nickel alloy (75% copper, 25% nickel). Unlike the early Jefferson nickels made of silver during World War II, the composition of the 1964 nickel does not contain any precious metals, which means that its intrinsic metal value remains low. However, depending on their condition and characteristics, their numismatic value could be much higher.

6.Fine-like characteristics

Some 1964 nickels, especially those struck from highly polished dies, have characteristics of fine coins, even if they are not officially minted fine coins. These coins have mirror-like surfaces and are worth more, especially in higher grades.

7.Auction Sales and Authentication

1964 nickel coins in excellent condition, with complete grades or obvious mint errors, are often sold at auction, where collectors are willing to pay a premium. Coins certified by professional grading agencies such as PCGS or NGC are more desirable in the marketplace because the certification guarantees their authenticity and grade.

Grading and Condition Assessment

Familiarise yourself with the attributes of the most valuable 1964 nickels. Jefferson nickels have a unique identifier, and it's important to keep an eye out for it when evaluating these coins. Look at the bottom of the Monticello on the reverse of the coin and calculate how many individual steps can be discerned. If you see 5 or 6 steps, the coin is a full step or FS coin and may be more valuable than a regular Jefferson nickel, especially if it is in good condition.

Carefully examine the coin to assess its condition and learn about coin grading standards to estimate the coin's condition. Coins need to be professionally graded by a service such as PCGS before they can be sold at a reasonable price.

Check coins for minting errors or other anomalies that could significantly increase their value.

Research recent selling prices for specific coins, taking into account date, condition, mint mark, and mint error (if applicable). The assessment of these factors may not be completely accurate, but it is a good way to estimate the value of a coin.

How to Buy and Sell 1964 Nickels

For most 1964 nickels in average condition, selling individually might not be worthwhile, but it could be worth it to sell them in bulk. The rarest examples of these coins are typically bought and sold through prominent auction houses, such as Heritage Auctions.