1997-P SMS Special Uncirculated

The 1997-P Special Uncirculated Jefferson nickel was produced as part of the Botanic Garden commemorative coin set, joining the 1994-P Matte as the second major matte-finish modern Jefferson nickel. Only 25,000 sets were produced, making the 1997-P SMS substantially scarcer than the 1994-P Matte and one of the rarer modern Jefferson nickel issues.

The matte finish provides the coin with a distinctive satin-like surface that differentiates it from both ordinary circulation strikes and traditional mirror proofs. Identification requires comparing the surface characteristics to reference images. PCGS and NGC both attribute the variety on certified examples.

The low 25,000 mintage makes the 1997-P Matte command significant premiums over the 1994-P Matte. Heritage Auctions has sold certified examples in the $200 to $600 range depending on grade, with exceptional specimens bringing higher prices. The coin is a required acquisition for collectors building comprehensive Jefferson nickel collections including special issues.

Together, the 1994-P and 1997-P Matte Jefferson nickels represent the Mint's brief experiment with alternative finish formats in the mid-1990s. The 1997-P is the scarcer of the two and commands corresponding premiums in the specialty market.