Levi KeswickKey Takeaways:
- The Jefferson Nickel, designed by Felix Schlag, holds historical significance and value.
- The 1970 nickel value can rise significantly depending on mint condition and presence of mint marks ‘D’ and ‘S’.
- Limited edition coins, especially with intact full steps on Monticello, hold a higher value.
- Historical importance, intricate design details, and metallic composition play a significant role in determining the coin’s value.
- The value of nickels is also linked to the market demand for copper, the metal they’re composed of.
The Historical Footprint of the 1970 Jefferson Nickel
The Jefferson nickel, a coin crafted from the winning design of Felix Schlag, has been a circulation staple since 1938, replacing the Buffalo nickel. This historical coinage presents an image of Thomas Jefferson, the third U.S. president, offering a glimpse into American history with each transaction. The 1970 Jefferson nickel, in particular, holds unique intrigue and potential value for collectors.
This nickel design received official approval after a few modifications from Schlag’s original conception. Following this, the coin took its place as the third American currency to feature a historic figure, with Jefferson following Abraham Lincoln on the penny and George Washington on the quarter. A testament to the founding fathers’ legacy, this coin carries weight beyond its literal five cents.
The Unmistakable Design of the 1970 Nickel
The obverse of the 1970 Jefferson nickel features a left-facing portrait of Jefferson, a star separating the word “LIBERTY” and the date. The mint mark is located below the bow in Jefferson’s hair. Additionally, the phrase “IN GOD WE TRUST” can be found in front of Jefferson’s face. Schlag’s initials are subtly inscribed below the bust, marking his contribution to American numismatics.
The coin’s reverse design centers on Jefferson’s Monticello home, as requested by the Mint. Here, you’ll find the denomination and the country’s name, along with the phrase “E PLURIBUS UNUM”. Originally, the design included six steps leading up to Monticello, but minting limitations resulted in fewer steps. These rare instances where five or six steps were minted significantly increase the value of these 1970 nickels.
Unique Traits of the 1970 Jefferson Nickel
The 1970 Jefferson nickel, round with a plain edge, has a thickness of 1.95 mm. It possesses a diameter of 21.21 mm and weighs 5 g. It is made of a copper-nickel alloy, consisting of 25% nickel and 75% copper, in alignment with other nickels in the series.
Deciphering the 1970 Nickel Value: The Impact of ‘D’ and ‘S’ Mint Marks
In 1970, the Philadelphia mint played no role in the Jefferson nickel’s production. All coins that year were produced by the Denver and San Francisco mints, with the former minting almost twice as many coins as the latter.
Despite the different mintage volumes, both variants can command similar values given the same condition. For instance, the 1970 D Jefferson nickel, with a mintage of over 515 million, can range from $0.05 to $45 in value depending on the coin’s state. Exceptionally preserved coins with Full Steps are estimated to be worth $4,500 to $8,000 each.
The 1970 S Jefferson nickel, with a lower mintage of 238 million, also exhibits a similar pricing pattern, with circulated nickels available for as low as $0.05. The best-preserved coins can go up to $45, with those featuring Full Steps priced even higher.
The Market Forces Behind the 1970 Five Cents Value
Beyond the historic and aesthetic factors, the coin’s material composition also plays a role in determining its worth. Given that these nickels are 75% copper, their value can increase with the rise in copper prices on the global commodities market, making the coin a potentially valuable investment.
Overall, the 1970 nickel’s value is impacted by a variety of factors, including historical importance, design details, mint marks, and even global market forces. Whether you’re a serious collector or a casual numismatist, understanding these dynamics can help you appreciate the worth and intrigue hidden within this seemingly commonplace coin.
