As a seasoned US coin collecting expert, I'm excited to take you on a journey through the fascinating world of the 1959 Jefferson nickel. While many might overlook this seemingly ordinary five-cent piece, it holds secrets that could make it a prized possession in your collection. Let's dive deep into the history, value, and allure of the 1959 nickel.
A Brief History of the Jefferson Nickel
Before we explore the specifics of the 1959 issue, it's essential to understand the context of the Jefferson nickel series.
- Introduction: The Jefferson nickel was first minted in 1938, replacing the Buffalo nickel.
- Designer: Felix Schlag won a design competition for the new nickel.
- Obverse: Features a left-facing profile of Thomas Jefferson.
- Reverse: Depicts Monticello, Jefferson's Virginia home.
The 1959 Nickel: A Year in Focus
1959 was a significant year for the Jefferson nickel, with production occurring at two mints:
- Philadelphia Mint (no mint mark): 27,248,000 coins
- Denver Mint (D mint mark): 160,738,240 coins
Key Specifications
- Composition: 75% copper, 25% nickel
- Weight: 5.0 grams
- Diameter: 21.2 mm
- Edge: Plain
Grading the 1959 Nickel
Understanding the grading scale is crucial for determining a coin's value. Here's a simplified breakdown:
- Good (G-4): Heavily worn but identifiable
- Very Good (VG-8): Worn with some details visible
- Fine (F-12): Moderate wear, all major details clear
- Very Fine (VF-20): Light wear, major and minor details visible
- Extremely Fine (XF-40): Minimal wear, sharp details
- About Uncirculated (AU-50 to AU-58): Traces of wear on high points
- Uncirculated (MS-60 to MS-70): No wear from circulation, varying degrees of luster and contact marks
The Value of a 1959 Nickel
The value of a 1959 nickel can vary significantly based on several factors. Let's break it down:
1959 Philadelphia (No Mint Mark)
| Grade | Estimated Value |
|---|---|
| Good to Very Fine | $0.05 to $0.50 |
| Extremely Fine | $0.50 to $1 |
| About Uncirculated | $1 to $3 |
| MS-60 to MS-63 | $3 to $10 |
| MS-64 | $15 to $25 |
| MS-65 | $30 to $50 |
| MS-66 | $75 to $125 |
| MS-67 | $500+ |
1959-D (Denver Mint)
| Grade | Estimated Value |
|---|---|
| Good to Very Fine | $0.05 to $0.50 |
| Extremely Fine | $0.50 to $1 |
| About Uncirculated | $1 to $3 |
| MS-60 to MS-63 | $2 to $8 |
| MS-64 | $10 to $20 |
| MS-65 | $30 to $50 |
| MS-66 | $100 to $200 |
| MS-67 | $1,000 to $2,000 |
The "Full Steps" Premium
One of the most exciting aspects of Jefferson nickels is the "Full Steps" designation. This refers to the steps on Monticello being fully visible and separated. For the 1959 nickel, this can add significant value:
1959-D Full Steps (FS) Premium
| Grade | Estimated Value |
|---|---|
| MS-64 FS | $40 to $60 |
| MS-65 FS | $100 to $150 |
| MS-66 FS | $1,000 to $1,500 |
| MS-67 FS | $2,000 to $3,000 |
Note: Full Steps examples are extremely rare for 1959 Philadelphia nickels and are not typically priced separately.
Factors Influencing Value
Several factors can affect the value of a 1959 nickel:
- Condition: As seen in the grading scale, better-preserved coins command higher prices.
- Mint Mark: Generally, the Denver (D) mint coins are more common, but high-grade examples can be valuable.
- Full Steps: The presence of fully defined steps on Monticello significantly increases value.
- Strike Quality: Well-struck coins with sharp details are more desirable.
- Luster: Uncirculated coins with original mint luster are highly prized.
- Toning: Natural, attractive toning can add appeal and value.
- Errors and Varieties: Unique minting errors or die varieties can command premiums.
Rare Errors and Varieties
Collectors should be on the lookout for these valuable errors and varieties:
- Doubled Die: Look for doubling in the lettering or design elements.
- Repunched Mint Mark: Evidence of the D being struck multiple times.
- Off-Center Strikes: Coins struck off-center, showing blank planchet areas.
- Die Cracks: Raised lines on the coin's surface due to damaged dies.
How to Identify a Valuable 1959 Nickel
Follow these steps to determine if your 1959 nickel might be worth more than face value:
- Check the Date and Mint Mark: Confirm it's a 1959 and look for the D mint mark on the reverse.
- Assess Overall Condition: Look for coins with minimal wear and good luster.
- Examine the Steps: Use a magnifying glass to check for full steps on Monticello.
- Look for Errors: Carefully inspect for any of the errors mentioned above.
- Check Luster and Toning: Evaluate the coin's surface for original mint luster or attractive toning.
Preservation Tips
If you believe you have a valuable 1959 nickel:
- Handle the coin by its edges to avoid damaging the surfaces.
- Store in a non-PVC flip or holder to prevent chemical damage.
- Keep in a cool, dry place to prevent environmental damage.
- Consider professional grading for high-value specimens.
The 1959 Nickel in the Collector's Market
The market for 1959 nickels remains strong, particularly for high-grade and Full Steps examples. As of 2023, here are some recent auction results:
- 1959-D MS-67 FS: Sold for $2,640 (Heritage Auctions, January 2023)
- 1959 MS-66: Sold for $102 (Stack's Bowers, March 2023)
- 1959-D MS-65 FS: Sold for $156 (Great Collections, May 2023)
These results demonstrate the potential value in high-grade specimens, especially those with the Full Steps designation.
Historical Context
1959 was a significant year in American history:
- Alaska and Hawaii became the 49th and 50th states.
- The first Grammy Awards ceremony was held.
- NASA introduced the Mercury Seven astronauts.
Coins from this year serve as tangible connections to these historical events, adding to their appeal for collectors.
Comparative Analysis
How does the 1959 nickel stack up against other years? Let's compare:
| Year | Philadelphia Mintage | Denver Mintage | Key Varieties |
|---|---|---|---|
| 1958 | 17,088,000 | 168,249,120 | None notable |
| 1959 | 27,248,000 | 160,738,240 | Full Steps |
| 1960 | 55,416,000 | 192,582,180 | Large/Small Date |
While the 1959 nickel doesn't have the lowest mintage, its potential for high-grade Full Steps examples makes it a standout in the series.
Conclusion: Is Your 1959 Nickel a Hidden Gem?
While most 1959 nickels in circulation are worth only face value, the potential for finding a valuable specimen exists. The key factors are condition, presence of Full Steps, and any rare errors or varieties.
For the average collector, the thrill lies in the possibility of discovering a high-grade coin or a rare error in pocket change or old collections. For serious numismatists, the challenge of finding top-grade Full Steps examples provides an exciting and potentially rewarding pursuit.
Remember, coin collecting is not just about monetary value. Each coin tells a story of its time, connecting us to the past and preserving a piece of history. Whether your 1959 nickel is worth $0.05 or $2,000, it's a tangible link to a pivotal year in American history.
As you examine your coins, let the excitement of potential discovery fuel your passion for numismatics. Who knows? Your next 1959 nickel could be a hidden treasure waiting to be uncovered!
