Did you know that your spare change could be worth much more than its face value? If you have a 1971 Jefferson nickel, you might be sitting on a small fortune! Some of these coins are valued at over $2,000 due to rare errors and unique designs. Here’s a simple guide to help you spot a valuable 1971 nickel.
The History Behind the Nickel
Nickels, worth five cents, have been around since 1794. However, back then, they were called “half dimes.” The term “nickel” came about in 1866, and since then, it has become a staple in U.S. currency. The Jefferson nickel, which we are familiar with today, first appeared in 1938, replacing the famous Buffalo nickel.
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What Makes the 1971 Nickel Special?
In 1971, the U.S. Mint made a few changes to the design of the Jefferson nickel. These changes came after the master dies used to create the coin began to wear down.
The redesign restored the original look of Thomas Jefferson on the front and his Monticello home on the back. But here’s where it gets interesting: different versions of the 1971 nickel were produced.
One such version, known as ODV-021, has slightly thinner letters in the word “TRUST” on the front of the coin. On the back, there are two varieties of Monticello’s image, called RDV-005 and RDV-006. The difference lies in the detail of the building’s rooftop railing—on one, it’s more visible than on the other.
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The Rare “No S” Nickel
The most valuable 1971 Jefferson nickels are those that have an error called the “No S” nickel. This error happens when the coin is missing the “S” mintmark, which shows where it was made.
Coins without this mintmark are extremely rare and highly sought after by collectors. While most 1971-S nickels are only worth a little more than face value, error coins in good condition can fetch anywhere from $800 to over $2,000!
In fact, a high-grade “No S” Jefferson nickel sold for a whopping $2,070 in a 2012 auction. So, if you find a 1971 nickel without the “S” mintmark, don’t let it slip away! It could be your lucky ticket to some extra cash.
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What to Do If You Have a 1971 Jefferson Nickel
If you come across a 1971 nickel, take a close look. Check for the “S” mintmark and the finer details in the design. If you think it might be valuable, take it to a coin dealer or expert to get it properly evaluated. Who knows, you might just leave with a pocket full of money!