1939-D Reverse of 1940

The 1939-D Reverse of 1940 is the scarcer of the two 1939-D sub-types, reflecting the smaller portion of Denver's production that used the modified reverse hub. Specialists estimate that only a few hundred thousand coins were struck with the Reverse of 1940 before year-end, making the variety genuinely scarce in all grades. The coin is a required acquisition for advanced Jefferson nickel collectors building complete reverse variety sets.

Identification requires both the D mintmark and verification of the Reverse of 1940 die configuration. The modified reverse shows sharper step detail and crisper column definition than the original reverse. Certification from PCGS or NGC provides the most reliable attribution, and certified examples are the standard for serious collectors pursuing the variety at premium pricing.

Surviving populations are limited, and Mint State examples are scarce enough to command significant premiums over the already-scarce 1939-D Reverse of 1938 variety. Full Steps designation is more achievable on the Reverse of 1940 than on the Reverse of 1938, though Gem Full Steps examples remain difficult to find. The coin is one of the defining pieces of advanced Jefferson nickel variety collecting and commands four-figure prices in top grades.