Are you curious about that 1979 nickel jingling around in your pocket change? You might be surprised to learn that some 1979 Jefferson nickels are worth much more than five cents to collectors. In this comprehensive guide, we‘ll dive deep into everything you need to know about 1979 nickel values, from the history of the series to the most valuable error varieties to look for.
The Storied History of the Jefferson Nickel
First minted in 1938, the Jefferson nickel has become an iconic American coin. The obverse features a left-facing portrait of Thomas Jefferson, the 3rd U.S. President and primary author of the Declaration of Independence. His visage is accompanied by the mottos "IN GOD WE TRUST" and "LIBERTY", along with the year of issue.
The reverse showcases a front view of Jefferson‘s neoclassical Virginia mansion, Monticello. The name "MONTICELLO" is inscribed below the building, while "E PLURIBUS UNUM" and "UNITED STATES OF AMERICA" encircle the rim. The denomination "FIVE CENTS" is stated at the bottom.
This elegant design by German-American sculptor Felix Schlag was the winner out of 390 entries in a hotly contested public competition. It narrowly beat out a submission from the renowned Edith Longman. Schlag‘s victory was controversial, as many felt his portrait of Jefferson was unflattering. Even so, the design has endured for over 80 years with only minor tweaks.
Fascinatingly, nickels from 1942-1945 were struck in a special wartime alloy of 35% silver, 56% copper, and 9% manganese to preserve nickel for military use. These unique "war nickels" are identifiable by a prominent mintmark placed above Monticello on the reverse.
By 1979, the Jefferson nickel was an established staple of commerce and numismatics alike. Over 592 million pieces were struck that year across three mints to meet demand. Let‘s take a closer look at each issue.
1979 Nickel Mintage and Varieties
The Philadelphia (no mintmark), Denver (D), and San Francisco (S) mints all contributed to 1979 Jefferson nickel production. Here‘s how the mintage breaks down by facility:
| Mint | Mintage | Variety |
|---|---|---|
| Philadelphia | 463,188,000 | Business Strike |
| Denver | 325,867,672 | Business Strike |
| San Francisco | 3,677,175 | Type 1 Proof |
| San Francisco | Unknown | Type 2 Proof |
As these figures show, 1979 saw a robust nickel output that was fairly typical for the series. Philadelphia and Denver struck coins for circulation in huge quantities, while San Francisco produced proofs for collectors.
Notably, there are two distinct varieties of the 1979-S proof distinguished by the sharpness of the S mintmark. On the Type 1, the S is blobby and indistinct. The Type 2 exhibits a crisp, clear-cut S mintmark. Numismatic researchers believe that the Type 2 S represents a mid-year die change at San Francisco. The relative rarity of the Type 2 is still unknown, as the two varieties weren‘t widely recognized until recent years.
A Grading Guide for 1979 Nickels
Of course, mintage only tells part of the story when it comes to 1979 nickel values. Equally important is the coin‘s condition or grade. To standardize grading, numismatists use the Sheldon scale, which ranges from a heavily worn Poor-1 to a flawless Mint State-70. Here‘s how the grades break down for 1979 nickels:
| Grade | Description | Value Range |
|---|---|---|
| Poor-1 to Fair-2 | Heavily worn, barely recognizable as a Jefferson nickel | $0.05 |
| About Good-3 | Design elements mostly flat but visible | $0.05 |
| Good-4 to Very Good-8 | Moderate to heavy wear but all features clear | $0.05-0.10 |
| Fine-12 | Moderate even wear, most design details visible | $0.10-0.25 |
| Very Fine-20 to 35 | Light to moderate wear confined to high points | $0.50-1.00 |
| Extremely Fine-40 to 45 | Slight wear on highest points, traces of luster may show | $1-5 |
| About Uncirculated-50 to 58 | No wear but luster may range from dull to partially impaired | $2-10 |
| Mint State-60 to 70 | No wear at all, luster ranges from satiny to fully brilliant | $5-100+ |
As you can see, a significant premium emerges in the higher uncirculated grades. This is because relatively few 1979 Jeffersons survived without any wear. Below are close-ups of a 1979 nickel in Fine-12 and Mint State-65 to illustrate the differences.
Grading coins accurately takes a lot of practice to master. If you‘re unsure about a coin‘s grade, it‘s wise to have it evaluated by a reputable third-party service like PCGS or NGC. They have teams of expert graders who will assign an impartial grade and encapsulate the coin in a sonically-sealed holder for protection.
1979 Nickel Values by Variety
With the context of mintages and grades in mind, we can now dive into exactly what 1979 nickels are worth on the open market. Recent auction results help paint the picture.
For circulated examples, even in VF condition, 1979 nickels are seldom worth more than 10 to 25 cents. In grades up to MS-64, the Philadelphia and Denver issues tick up to the $5 to $15 range. Gems graded MS-65 show the first big jump, with prices of $40 and up.
The record-holder for a business strike 1979 nickel was an exquisite PCGS MS-66 Full Steps piece that scored $2,530 in a 2006 sale. The "Full Steps" designation, indicating complete definition on Monticello‘s staircase, is rare and desirable for the series.
Values are a bit stronger for the 1979-S proofs. Both Type 1 and Type 2 trade for $1 to $2 in PR-65. The best Type 1 seen, a PCGS PR-70 Deep Cameo, claimed $1,762. Meanwhile, the top sale for a Type 2 came in at $2,530 for a PCGS PR-70 Deep Cameo. These represent the finest survivors of an original mintage of fewer than 4 million pieces.
Valuable 1979 Error Nickels
Some of the most sought-after 1979 nickels are error coins exhibiting distinctive mint mistakes. While unintentional, these freakish flubs can transform an ordinary nickel into a prized rarity. Here‘s a rundown of the major recognized types:
| Error Type | Description | Value Range |
|---|---|---|
| Double Die | Significant doubling of lettering or design due to misaligned die | $50-250 |
| Off-Center | Up to 50%+ of design missing due to misaligned dies | $20-150+ |
| Broadstrike | Expanded flan and missing reeded edge due to collar malfunction | $75-150 |
| Wrong Planchet | Struck on a planchet intended for a different coin like a cent | $400-1,000+ |
| Clipped Planchet | Straight or curved clip, often crescent-shaped, caused by mis-punched planchet | $100-500+ |
Please note that these are only a few examples of the many errors that can occur. Other dramatic mistakes like double strikes, brockages, and die caps are also possible. Values depend heavily on the specific error type, magnitude, and visual appeal.
How to Buy and Sell 1979 Nickels
For circulated 1979 nickels, your best bet is to spend them or deposit them at the bank for face value. Hobbyists intent on acquiring pristine uncirculated examples or errors have several options though.
Probably the most straightforward approach is to purchase directly from a trusted coin dealer, either online or at a brick-and-mortar shop. Most dealers maintain an inventory of Jefferson nickels certified by PCGS or NGC that you can browse. For rarer varieties, dealers may be able to track down an example on your behalf.
Another popular avenue is buying through auction sites like eBay, Heritage Auctions, or Great Collections. Many collectors enjoy the thrill of bidding on pieces and scouting for good deals. Just be sure to evaluate a seller‘s feedback ratings and return policy. Don‘t hesitate to ask for more photos or information if a listing seems unclear.
When it comes time to sell a 1979 nickel, you‘ll generally get the best price by targeting a specialized venue. Coin forums like the PCGS Message Boards or CoinTalk are frequented by serious Jefferson nickel collectors on the hunt for upgrades.
For an especially significant coin like a high-grade rarity or dramatic error, selling through a major numismatic auction house may yield the best return. Leading firms like Heritage, Stack‘s Bowers, and Goldberg regularly feature Jefferson nickels in their sale catalogs.
The Modern Jefferson Nickel Market
To put 1979 nickels in perspective, it‘s worth zooming out to consider the larger Jefferson nickel market. With a series that now spans over 80 years and counting, there‘s a wealth of material for collectors to pursue.
In recent decades, Registry Set collecting has emerged as a popular way to engage with modern coins like Jefferson nickels. The goal is to assemble the finest complete set of an entire series, with each coin‘s grade verified and points assigned by a third-party service. Fierce competition has developed for coveted top spots on the PCGS and NGC Registry Set leaderboards.
More broadly, the market for high-end modern coins has surged since the 1980s. Collectors have woken up to the stunning quality of coins like Jefferson nickels in superb gem grades. Prices have risen accordingly, with some issues that once traded for a pittance now commanding substantial premiums.
Error coin collecting has also exploded in popularity. Freed from the constraints of perfection, mint mistakes offer a unique form of numismatic art. The hunt for dramatic new errors is thrilling, and some issues have proven to be phenomenal investments over time.
As with any area of numismatics, the market for 1979 nickels is fluid and shaped by the passions of collectors. There‘s no way to predict the future with certainty, but the series seems well-positioned for continued interest. With ample opportunity for specialization and discoveries waiting to be made, Jefferson nickels offer fertile ground for hobbyists.
Frequently Asked Questions About 1979 Nickels
Q: Did the U.S. Mint make any changes to nickels in 1979?
A: No, Jefferson nickels were identical in design and composition to the prior year. The Mint would continue this consistency through the end of the 1900s.
Q: Are 1979 nickels magnetic?
A: Nope, they‘re 75% copper and 25% nickel and don‘t stick to a magnet. If you find a 1979 nickel that‘s magnetic, it‘s likely an altered coin or counterfeit.
Q: Is it possible to get rich by investing in 1979 nickels?
A: Realistically, 1979 nickels aren‘t a great vehicle for building wealth. Most examples are extremely common in all but the highest grades. However, some collectors have realized strong returns on rare varieties and errors. As with any investment, past performance doesn‘t guarantee future results.
Q: What should I do if I think I have a genuine 1979 nickel error?
A: Submit it to a major third-party grading service like PCGS or NGC. They have experts on staff who can evaluate your coin impartially and render a verdict. Having an official certified coin is essential for getting top dollar from buyers.
Q: How can I learn more about 1979 nickels?
A: Consulting a specialized reference like the Cherrypickers‘ Guide to Rare Die Varieties or The Complete Jefferson Nickel Encyclopedia can open up a whole new world of appreciation. You might also seek out your nearest coin club to learn from other collectors face-to-face.
Whether you‘re a diehard Jefferson nickel specialist or simply appreciate an interesting diversion in your pocket change, 1979 nickels are worthy of admiration. By taking the time to understand their history, rarity, and nuances, you‘ll unlock a deeper connection with these underrated gems. Embrace the hunt for extraordinary specimens and share your passion with fellow collectors. In this wonderful hobby of ours, there‘s always more to learn and enjoy.
Happy collecting!
