Most people are very familiar with the Jefferson nickel but not everyone is aware that some of them can be worth significantly more than their face value. How do you know which Jefferson nickels are worth money?
In this article, we focus on the 1970 Jefferson nickel and explore the value of the different varieties of nickels minted in 1970. You will also find a description of the coin together with a brief history of the Jefferson nickel and information on how coins are graded. Most importantly, you will find out what to look for to identify the most valuable 1970 Jefferson nickels.
1970 Jefferson Nickel Details
- Category: Jefferson Nickel
- Mints: Denver, San Francisco
- Total mintage: 756,950,194
- Designer: Felix Schlag
- Edge: Smooth
- Diameter: 21.21 mm (0.83505 inches)
- Thickness: 1.95 mm (0.07678 inches)
- Weight: 5 g (0.17637 ounces)
- Composition: 75% Copper – 25% Nickel
- Face Value: $0.05
- Melt Value: 0.0617
The Obverse of the 1970 Jefferson Nickel
On the obverse of the 1970 Jefferson nickel is a portrait of Thomas Jefferson, the third president of the United States. The portrait is located in the center of the coin and is facing to the left. The words ”In God We Trust” is in capital letters in front of Jefferson’s portrait along the rim.
To the back of the portrait are the word ”Liberty” in capital letters and the year the coin was struck. These run along the rim separated by a star, The mint mark is under the bow in Jefferson’s hair. Below the portrait, in smaller letters, are the designer’s initials. The design, which was created by Felix Schlag in 1938 has remained virtually unchanged since then.
The Reverse of the 1970 Jefferson Nickel
On the back of the coin is Monticello, the primary plantation of Thomas Jefferson in Virginia. The building is in the center of the coin with its name in capital letters underneath. The Latin phrase ”E Pluribus Unum”, which means ”Out of many, one”, is above the building, curved along the rim.
Below the image of the building and its name are the words ”Five Cents” and below that ”United States of America”. Both the denomination and the country named are curved, the country name along the rim, and the denomination just above it.
The original Jefferson nickel design included six steps in front of Monticello, but because of limitations in minting, the image has fewer steps than initially planned. However, there are some coins that have five, some even six steps in front of the building. It is these coins that are highly sought after and therefore expensive among the 1970 Jefferson nickels.
Also Read: 15 Most Valuable Nickels Worth Money
Value Chart
1970 Jefferson Nickel Value Chart |
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| Mint Mark | MS60/ PR60 | MS64/ PR64 | MS65/ PR65 | MS66/ PR66 | PR69 | |
| 1970 D Jefferson Nickel Value | $0.30 | $1.75 | $12 | $45 | – | |
| 1970 D FS Jefferson Nickel Value | – | – | $4,500 | $8,000 | – | |
| 1970 S Jefferson Nickel Value | $0.30 | $2.75 | $12 | $45 | ||
| 1970 S FS Jefferson Nickel Value | – | $100 | $315 | $3,250 | – | |
| 1970 S Proof Jefferson Nickel Value | $0.25 | $0.40 | $1 | $2 | $200 | |
1970 Nickel Value and Varieties Guide
1970 D Jefferson Nickel Value
- Category: Jefferson Nickel
- Designer: Felix Schlag
- Edge: Smooth
- Mint mark: D
- Place of minting: Denver
- Year of minting: 1970
- Face value: $0.05
- Price: $0.05 – $8,000
- Quantity produced: 515,485,380
The standard 1970 D Jefferson nickel is not considered to be rare and most specimens that have been in circulation are not worth more than their face value. Even nickles at the lower end of the mint state, graded MS60 are only worth around 30 cents, while an MS66 graded 1970 D nickel is valued at $45.
However, there are some Denver-minted 1970 nickels that are worth thousands. These are MS-graded coins with the full steps included in the front of the building. An MS65-graded nickel from 1970 is worth approximately $4,000 and MS66 $8,000.
1970 S Jefferson Nickel Value
- Category: Jefferson Nickel
- Designer: Felix Schlag
- Edge: Smooth
- Mint mark: S
- Place of minting: San Francisco
- Year of minting: 1970
- Face value: $0.05
- Price: $0.05 – $3,250
- Quantity produced: 238,832,004
Even though there were almost 300 million fewer S minted 1970 nickels than there were D minted nickels, their prices are very similar. One difference is the MS64-graded nickel, which is valued at a dollar more than the S-minted variety. Again, similar to the D-minted coins, the real value is attached to the coins with full steps included in the image.
An MS64-graded FS nickel minted at the San Francisco Mint is valued at $100, MS65 is worth around $315, and MS66 is worth $3,250. Both MS65 and MS66 FS S minted 1970 nickels are valued lower than the equivalent grades with D mint. The most expensive 1970 S nickel sold to date fetched almost double the MS66 valuation selling for $6,463 in 2016 at Heritage Auctions.
1970 S Proof Jefferson Nickel Value
- Category: Jefferson Nickel
- Designer: Felix Schlag
- Edge: Smooth
- Mint mark: S
- Place of minting: San Francisco
- Year of minting: 1970
- Face value: $0.05
- Price: $0.05 – $200
- Quantity produced: 2,632,810
Unlike many other American proof coins that were minted at the Philadephia Mint, Jefferson nickel proofs were minted at the San Francisco Mint from 1968 to 2018, apart from matte proofs produced between 1994 and 1997, which were minted in Philadelphia.
Even though only a relatively modest number of 1970-proof nickels were produced, their value in most cases is not much over their value. Most 1970 S-proof nickels from regular strikes are worth between $0.25 and $4. The only proof coins valued significantly above their face value are deep cameo nickels with a PR69, valued at $200.
Despite the relatively low valuations of proof coins, one 1970 S-proof Jefferson nickel sold for a lot higher amount at an auction. A PR64 graded 1970 Jefferson nickel sold for $1,725 in a 2010 Heritage Auctions sale.
Also Read: Top 110 Most Valuable Nickels Worth Money
History
When the US Mint was looking to redesign the nickel, officials from the US Mint decided to hold a competition for the design of a new nickel and invited artists to submit designs for it. The winning design was submitted by Felix Schlag, a German-born artist. His design features Jefferson on the obverse and the image of his plantation in Virginia on the reverse.
The first time the Jefferson nickel was minted was in 1938 when it replaced the Buffalo nickel. While the design of the coin has remained largely unchanged other than a slight modification in 1946 to its size to include a larger image of Monticello on the reverse, the coin’s composition was changed for a while during the Second World War.
In 1942, the composition was changed to silver alloy from the previous copper-nickel alloy because the war caused a nickel shortage. Silver was used to produce the Jefferson nickels until 1945. After the war, the composition was changed back to the copper and nickel alloy used in the 1970 nickels as well.
Also Read: Top 19 Most Valuable Jefferson Nickels Worth Money
1970 Jefferson Nickel Grading
The 1970 Washington quarters are graded on a system that uses numbers from 1 to 70. Coins graded at the lower end of the scale are those that have been in circulation and show a lot of signs of wear and tear.
While in some types of coins, specimens graded below mint state (MS) grades may be worth more than their face value, this is not generally the case with the Jefferson nickels. Even coins that are graded very fine (VF) or extremely fine (EF) would rarely be valued above the face value.
Only coins graded at the higher end of MS grades are worth more. Those with the full steps are, of course, the most valuable, with the exact value depending on the overall condition of the coin. If you have a 1970 Jefferson nickel and are wondering whether you should get it graded, you might like to watch this video first.
1970 Jefferson Nickel Errors
1. 1970 Jefferson Nickel Full Steps Error
The 1970 Jefferson nickels that command the highest prices are the ones that have the full steps in front of Jefferson’s home, Monticello. These coins will have the letter and number combination FS5 or FS6 added to their grade. The combinations FS5 and FS6 refer to the number of steps in front of the building.
Collectors are often prepared to pay serious money for FS coins. To check if you have one of these valuable coins, start counting the steps from the entrance, which represents the first step, and finish with the foundation. Alternatively, you can check the number of incuse lines between the steps. If you have four lines, your coin has five steps, five lines mean there are six full steps.
The exact value of the coin depends on its overall condition. However, most full-step 1970 Jefferson nickels sell for ten or twenty times the regular price.
2. 1970 Jefferson Nickel Mint Mark Error
A mint mark error means the mint mark is either missing or has been punched incorrectly. There are various variations of mint mark errors on the 1970 Jefferson nickels. San Francisco-minted nickels with mint mark errors are more valuable and a coin with MS67 grading is worth around $2,000. A 1970 D Jefferson nickel with mint error is generally valued in the region of $200.
3. 1970 Jefferson Nickel Double Strike Error
A double strike error occurs when a coin is struck twice. Usually, with double-struck coins, the first strike is correct and then the coin is accidentally struck again, off-center this time. Often, the second strike is approximately 45% off the center and may flatten or obliterate the first impression.
How much a double-struck 1970 Jefferson coin is worth depends on a variety of factors, including the severity of the error, and the condition of the coin. A 1970 D Jefferson nickel with a double strike error, can reach approximately $350 in value.
4. 1970 Jefferson Nickel Doubled Die Error
A doubled die error, which is sometimes confused with a double strike error, is a result of a mistake during the hubbing process. The result is two slightly offset, identical images. Some D-minted 1970 Jefferson nickels have doubling on the word ”Liberty”, the date, the star, or in the inscription ”In God We Trust” on the obverse.
Doubled die errors on the reverse of the D minted 1970 nickels may appear on the lettering of ”United States of America” or the phrase ”E Pluribus Unum”. How much the nickels with a doubled die error are worth depends on the condition of the coin, whether it has been in circulation or not, and the severity of the error.
5. 1970 Jefferson Nickel Clash Die Error
There are some San Francisco minted 1970 Jefferson nickles with a clash die error. These errors are created when obverse and reverse die clash in the absence of a planchet between them. This can happen if a planchet does not for some reason enter the press chamber.
The value of the 1970 Jefferson nickel varies on the severity of the error. A light die clash where there is a minor transfer is likely to add between $3 and $10 to the coin’s value. A moderate clash with a more prominent transfer is worth an additional $7 to $25, and a heavy die clash where there is a drastic transfer of the opposite die’s design can add over $20 to the price.
1970 Jefferson Nickel FAQs
Is a 1970 nickel worth anything?
What a 1970 nickel is worth depends on many factors, including its rarity, its condition, and whether there are errors present. While 1970 Jefferson nickels that have been in circulation are seldom worth more than their face value, there are nickels from this year that are worth significantly more.
The coins to look for are ones with errors, especially those with full steps featured in the image. Coins that feature five or six steps and are graded in the higher mint states can be worth several thousand dollars.
Is a 1970 D nickel rare?
Regular strikes 1970 D nickels are not considered rare. However, those with full steps are not as common and are sought after by collectors.