U.S. coins worth five cents have existed since 1794, originally referred to as “half dimes.” The term “nickel” was first introduced in 1866, but the half dime continued to circulate until 1873. The modern iteration of the nickel, featuring Thomas Jefferson, was introduced in 1938, replacing the popular Buffalo nickel. This design choice was a nod to American history, honoring one of the nation’s founding fathers.
The Evolution of the 1971 Jefferson Nickel
By the late 1970s, the Proof Jefferson nickel master dies had deteriorated, resulting in a loss of fine detail. In response, the U.S. Mint created new master designs to restore the coin’s original features, which prominently displayed Jefferson on the obverse and his Monticello estate on the reverse.
This redesign led to various versions of the 1971-S Nickel. For instance, one notable variant, known as ODV-021, features the letters “T” and “R” in “trust” on the obverse, which are slightly thinner than their normal thickness. On the reverse, two distinct varieties exist: RDV-005 and RDV-006, each showing a different level of relief on the Monticello rooftop railings.
The Shift in Minting Practices
Starting in 1971, the San Francisco Mint ceased producing nickels for general circulation. Consequently, all nickels struck in San Francisco after this year were designated as proofs, which refers to their specialized finish designed for collectors.
The 1971 “No S” Jefferson Nickel
One of the most interesting aspects of the 1971 Jefferson nickel series is the “No S” error coin. This particular version lacks the “S” mintmark that typically indicates it was struck in San Francisco. While most 1971-S Nickels are worth only a few cents above their face value, specific error types in lower grades can command prices up to $800.
High-grade varieties of the “No S” Jefferson nickel have been known to sell for between $1,000 and $1,500, with one exceptional specimen fetching a staggering $2,070 at the January 2012 Heritage FUN Signature Auction.
Conclusion: Assessing Your Collection
If you come across a 1971 Jefferson nickel, particularly one without the “S” mintmark, it may be worth consulting a local coin dealer or numismatist. You could be sitting on a rare error coin that could substantially increase your financial standing. Whether you’re a seasoned collector or a casual observer, the 1971 Jefferson nickel remains a fascinating piece of American numismatic history worth exploring.
