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1939-S Reverse of 1938

Nickels · Jefferson Nickels · 1938–Present
Semi-key
Weight5 g
Diameter21.21 mm
MintSan Francisco
StrikeCirculation strike
Mintage 6,630,000
EdgePlain
Alignment↑↓ Coin
Composition75% Copper, 25% Nickel
DesignerFelix Schlag
Collector's Key IDCK-1348

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About this coinHistory

San Francisco's 1939 Jefferson nickel mintage was 6,630,000 coins across both reverse sub-types, with the Reverse of 1938 accounting for the majority. The 1939-S Reverse of 1938 is scarcer than the Philadelphia issue but more common than the 1939-D varieties, placing it in the mid-semi-key tier of early Jefferson nickel collecting. The coin commands meaningful premiums in all grades, particularly in high Mint State with Full Steps designation.

Strike characteristics are variable. Some 1939-S Reverse of 1938 examples show strong detail, while others display the softer definition typical of the original reverse hub. Specialists building high-grade sets prioritize well-struck examples and pay premiums for Full Steps pieces that meet strict strike criteria. Gem Full Steps 1939-S Reverse of 1938 nickels are genuinely scarce and command four-figure prices.

The 1939-S Reverse of 1938 is one of several early Jefferson nickel challenges that collectors address before tackling the 1950-D key. Along with the 1938-D, 1938-S, 1939-D, and the separate 1939-S Reverse of 1940 variety, it anchors the pre-war Jefferson scarcity tier. Collectors building complete sets treat these early dates as core acquisitions requiring dedicated budget and patience.

Price guideReference

Reference data only — not an appraisal.

GradeDescriptionLowHigh
G-4 Good (G) $0.60 $0.70
VG-8 Very Good (VG) $0.80 $0.95
F-12 Fine (F) $1 $1.50
VF-20 Very Fine (VF) $2.50 $2.50
EF-40 Extremely Fine (EF) $5.50 $6.50
AU-50 About Uncirculated (AU) $8 $9
MS-60 Uncirculated (MS) $16.50 $19
MS-63 Choice Uncirculated (MS)
Frequently Asked QuestionsFAQ
How much is a 1939-S Reverse of 1938 Jefferson Nickel worth?
In Good condition it runs about $0.60–$0.70, rising to roughly $16.50–$19 in Uncirculated. These are reference values, not an appraisal.
How many 1939-S Reverse of 1938 Jefferson Nickels were minted?
6,630,000 were struck.
What is a 1939-S Reverse of 1938 Jefferson Nickel made of?
75% Copper, 25% Nickel, weighing 5 g.
What is the melt value of a 1939-S 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-S 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.