Jefferson Nickels 1938 (to present) Coin Guide
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Jefferson Nickels 1938 to present
Still in production today, the Jefferson Nickel has become a familiar
coin to generations of Americans. Introduced in 1938, it is the only one
of our current coins being made in its original composition, though this
continuity was interrupted briefly by the emergency of World War II. After
more than six decades of minting, this humble coin continues to honor the
nation's third president.
Thomas Jefferson was a man of countless talents, and he possessed an
unceasingly curious nature. His achievements in architecture (his own
home, Monticello, being but one example), combined with his triumphs as a
statesman, scientist and philosopher, have earned for Jefferson a lasting
legacy as one of the truly great figures in American history. It was
seemingly inevitable that once George Washington had been honored with a
circulating coin in 1932, Jefferson could not be far behind in achieving
such recognition.
Thomas Jefferson was born in 1743 in Virginia, in what was then
Goochland (now Albemarle) County. Raised in a prosperous home, he took
full advantage of the educational opportunities this offered him. Though
he was proud to describe himself as merely a gentleman farmer, he began a
long and illustrious career of public service in 1769 by joining the
Virginia House of Burgesses. The onset of the American War of Independence
six years later found him a member of the Second Continental Congress. In
this capacity he became the principal author of the Declaration of
Independence. Returning to Virginia to serve as its governor during the
closing years of the war, he later rejoined the Continental Congress for
the term 1783-84.
Among the most pressing issues of the day was settlement of the
nation's war debt and the establishment of a monetary system. Jefferson
devised a decimal coinage system, the principal points of which were
ultimately adopted some years later. Jefferson then became America's
minister to France in 1785, returning home upon the election of George
Washington as the first president of the federal republic. Jefferson's
term as secretary of state found him often at odds with the dominant
Federalist party, and this only intensified during his vice-presidency
under President John Adams (1797-1801).
A Republican, Jefferson succeeded Adams, serving two terms as president
of the USA (1801-09). Highlights of his presidency included the Louisiana
Purchase of 1803 and America's battles against the Barbary pirates.
Retirement for Jefferson was anything but quiet, and among his
achievements were the founding of the University of Virgina and the design
of its buildings. He maintained a lively and stimulating correspondence
with figures around the world, until death claimed him at his beloved home
of Monticello in 1826. In a remarkable coincidence, his passing fell on
July 4, fifty years to the day after the signing of the Declaration of
Independence. In an even greater twist, old rival John Adams also
succumbled on that very same day.
Early in 1938, the Treasury Department announced a public competition
for designs to replace those of the current five-cent piece. No reason was
given for retiring James Earle Fraser's Indian Head/Buffalo Nickel, but
that design had achieved its statutory minimum production of 25 years, and
therefore no legal obstacle stood in the way of replacing it. The new coin
would honor Thomas Jefferson, and the competition rules specified that its
obverse was to feature "an authentic portrait" of the third
president. The rules further required that the reverse of the coin depict
"a representation of Monticello, Jefferson's historic home near
Charlottesville."
The contest was open to anyone who could deliver models that would work
within the Mint's technical requirements, and these specifications were
provided in the public announcement. Of some 390 models submitted, those
of German-American sculptor Felix Schlag were selected, and he was awarded
the $1000 prize in April of 1938.
Felix Schlag's portrait of Jefferson was based on a marble bust
sketched from life by famed French sculptor Jean-Antoine Houdon. Schlag's
dramatic perspective view of Monticello was rejected by the Federal
Commission of Fine Arts, which acted in an advisory capacity on all
matters of public art. In addition to recommending a more conventional,
elevation view of Jefferson's home, the commission suggested that Schlag's
stylized, Art Deco lettering be replaced with a more traditional Roman
script. Schlag complied with its requests, submitting revised models for
review in July of 1938. After a few more changes were made to the
lettering, principally enlargement of the value FIVE CENTS, the models
were approved. With all of these delays, production of the new coins did
not commence until September, and the first examples were released to
circulation two months later.
The Jefferson Nickel features a left-facing bust of the president,
dressed in a coat of the period and wearing a peruke wig. Arranged in arcs
around the border are the motto IN GOD WE TRUST to the left, with LIBERTY
and the date to the right, separated by a single star. On the reverse is a
front elevation view of Jefferson's home, with the name MONTICELLO beneath
it. Around the border are the legends E PLURIBUS UNUM above and UNITED
STATES OF AMERICA below. Beneath MONTICELLO is the value FIVE CENTS.
Beginning in 1966, Schlag's initials FS appear below the truncation of
Jefferson's bust.
The mints at Philadelphia (no mintmark until 1980), Denver (mintmark
'D') and San Francisco ('S') each coined Jefferson Nickels from 1938
onward. Mintmarks appeared to the right of Monticello through 1964, when
their use was suspended due to a nationwide coin shortage. Mintmarks were
restored beginning in 1968, though since that date they have been placed
beneath the date, to the right of Jefferson's peruke. San Francisco
suspended coining operations after 1954, but Jeffersons bearing the
popular 'S' mintmark were again made for circulation in 1968, 1969 and
1970. Beginning in 1971 and continuing to the present day, San Francisco
has struck only proof examples for collectors.
Mintages from all three mints have varied over the course of the
series, with some of these figures being small by modern standards. The
dates considered "key" coins due to their low mintages include
1938-D, 1938-S, 1939-D, 1939-S and 1950-D. None are truly rare, however,
as the Jefferson Nickel series coincides with the era in which Americans
preserved rolls and even entire bags of uncirculated coins of each and
every date. Instead of date rarity, the focus in collecting Jeffersons is
on superb quality. Until the late 1980s, when lowering of this coin's
relief resulted in consistently sharp strikes, most Jefferson Nickels were
seldom found with all details distinct. Specifically, the steps of
Monticello are typically incomplete, and coins having "full
steps" receive intense collector interest.
The novelty of the Jefferson Nickel caused most examples to be saved by
a curious public during its first few years, and coins of this type did
not become a familiar sight in circulation until about 1940. Shortly
thereafter, the onset of World War II prompted the rationing of many
commodities, certain metals among them. Nickel was highly valued for use
in armor plating, and Congress ordered the removal of this metal from the
five-cent piece, effective October 8, 1942. From that date, and lasting
through the end of 1945, five-cent pieces bore the regular design but were
minted from an alloy of copper, silver and manganese. It was anticipated
that these emergency coins would be withdrawn from circulation after the
war, so a prominent distinguishing feature was added. Coins from all three
mints bore very large mintmarks above the dome of Monticello, and the
letter 'P' was used as a mintmark for the first time on a U. S. coin.
These "war nickels" proved quite satisfactory in circulation,
and they were not immediately withdrawn. Instead, they remained a familiar
sight until the mid-1960s, when rising silver prices caused them to be
hoarded for their bullion value.
While a handsome coin in its own right, the Jefferson Nickel serves an
additional purpose in honoring a truly great American. In this role, it is
likely to continue for many years to come. For collectors, completion of
the Jefferson series remains an inexpensive and attainable goal.
SPECIFICATIONS:
Diameter: 21.2 millimeters Weight: 5 grams Composition: .750 copper,
.250 nickel (1938-42, 1946-) .560 copper, .350 silver, .090 manganese
(1942-45) Edge: Plain
BIBLIOGRAPHY: Breen, Walter, Walter Breen's Complete
Encyclopedia of U.S. and Colonial Coins, F.C.I. Press/Doubleday, New York,
1988. Taxay, Don, The U.S. Mint and Coinage, Arco Publishing Co., New
York, 1966. Wescott, Michael, with Keck, Kendall, The United States Nickel
Five-Cent Piece, Bowers and Merena Galleries, Wolfeboro, NH, 1991. Yeoman,
R.S., A Guide Book of United States Coins, 52nd Edition. Golden Books
Publishing Company, New York, 1998.
Coin Information Provided Courtesy NGC.
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