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1939-D Reverse of 1938

Nickels · Jefferson Nickels · 1938–Present
Semi-key
Weight5 g
Diameter21.21 mm
MintDenver
StrikeCirculation strike
Mintage 3,514,000
EdgePlain
Alignment↑↓ Coin
Composition75% Copper, 25% Nickel
DesignerFelix Schlag
Collector's Key IDCK-1346

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About this coinHistory

Denver struck a total of 3,514,000 Jefferson nickels in 1939 (across both reverse sub-types), establishing the 1939-D as one of the scarcest dates in the Jefferson series after the 1950-D key. The Reverse of 1938 sub-type accounts for the majority of 1939-D production and is the more common of the two 1939-D variants. The coin is noticeably scarcer than adjacent years and commands meaningful premiums in all grades.

Strike characteristics for 1939-D Reverse of 1938 are generally adequate but variable. Full Steps designation is difficult to achieve because the original reverse hub produced softer step detail. Well-struck Gem examples with Full Steps command significant premiums over typical strike pieces at the same technical grade, and specialists building high-grade Jefferson nickel sets often consider the 1939-D one of the more challenging early entries.

The 1939-D is typically grouped with the 1938-D and 1938-S as an early Jefferson nickel semi-key. Along with the separate 1939-D Reverse of 1940 variety, it represents the main Denver Mint scarcity challenges before the 1950-D key date. Heritage Auctions regularly offers Mint State examples in the $100 to $500 range depending on grade and strike quality.

Price guideReference

Reference data only — not an appraisal.

GradeDescriptionLowHigh
G-4 Good (G) $3 $3
VG-8 Very Good (VG) $4.50 $5
F-12 Fine (F) $6.50 $7.50
VF-20 Very Fine (VF) $8 $9
EF-40 Extremely Fine (EF) $12.50 $14.50
AU-50 About Uncirculated (AU) $25 $29
MS-60 Uncirculated (MS) $48 $55
MS-63 Choice Uncirculated (MS)
Frequently Asked QuestionsFAQ
How much is a 1939-D Reverse of 1938 Jefferson Nickel worth?
In Good condition it runs about $3, rising to roughly $48–$55 in Uncirculated. These are reference values, not an appraisal.
How many 1939-D Reverse of 1938 Jefferson Nickels were minted?
3,514,000 were struck.
What is a 1939-D Reverse of 1938 Jefferson Nickel made of?
75% Copper, 25% Nickel, weighing 5 g.
What is the melt value of a 1939-D Reverse of 1938 Jefferson Nickel?
Its melt value is its metal content multiplied by the current spot price. See our melt calculator on the metals pages for a live figure.
Is the 1939-D Reverse of 1938 Jefferson Nickel a key date?
It's a semi-key date — scarcer than common issues but more available than the series' key dates.