1939-S Reverse of 1938 Jefferson Nickel

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.