When it comes to collecting modern coinage, there are plenty of organic bookends and thresholds that cue collectors as to what is “old” or “worthy” and what can be spent as money. Consider Lincoln Cents, which saw a subtype switch in the late 1950s with the transition from the vintage Wheat reverse design giving way to the still thoroughly modern Lincoln Memorial motif in 1959.
The Roosevelt Dime and Washington Quarter went to copper-nickel compositions in 1965, automatically making the 90% silver iterations issued prior to 1965 automatically worth at least their spot value — something that has increased appreciably in the last few years. Kennedy Half Dollars saw a sea change in 1971 when they lost their silver content. Just as well, the plurality of silver dollar enthusiasts might agree that anything struck before the Eisenhower Dollar in 1971 is a “classic” among their denomination of choice.
But what about Jefferson Nickels, a series that saw virtually no major changes in design between 1938 and 2003, save for some mintmark shifts and minor retoolings to the depth and refinement of their primary devices. What constitutes an “old” Jefferson Nickel?
Defining the threshold between “old” Jefferson Nickels and “not old” Jefferson Nickels may be a little more arbitrary. After all, one could argue that “old” Jefferson Nickels are anything struck before 2004, when the two-year Westward Journey commemorative series marked the end of the original obverse and reverse designs by Felix Schlag.
Many collectors who search circulation for valuable finds tend to keep any Jefferson Nickels struck prior to 1960. But why is 1960 the cutoff for these collectors? It might be less a numismatic reason and more a cultural one. After all, the 1960s not only marked the beginning of many social revolutions that still influence the world today, but the decade also saw some major shifts on the American numismatic scene.
The swinging ‘60s normalized billion-plus mintages at the United States Mint, saw the end of silver in circulating U.S. coinage, and moved mintmarks that remained on reverses to a forward position on the obverse. The 1960s even set into place the modern cast of designs seen on the Lincoln Cent, Jefferson Nickel, Roosevelt Dime, Washington Quarter, and Kennedy Half Dollar. In these and many other ways, the 1960s very much define the start of the “modern” era in U.S. numismatics. And for a series such as the Jefferson Nickel, which looked pretty much the same for most of its life, a changeover in dates from the 1950s to the 1960s makes as good a case as any for differentiating “old” versus “modern.”
Does that mean the 1959 and 1959-D Jefferson Nickels are somehow “old” and rare while the nickels from 1960 and on aren’t worth keeping? Not necessarily. But it certainly might be enough to give collectors a little more direction when deciding what Jefferson Nickels to keep and what to spend.
The opinions expressed in this article are solely those of the author and do not necessarily represent the views of Professional Coin Grading Service, Collectors, or subsidiaries.