Coins sometimes hide treasures in themselves that go unnoticed by most people. Such is the case with the 1942 nickel, which is said to contain a rare mint error that increases its value significantly. Before you ever think of spending those old nickels, check that they might just be worth something.
If you have coins stowed in drawers or jars, now is the time to dig through your collection again. Certain 1942 nickels—those with the right mint error—could be worth $8,000 or more. The minting error that makes the 1942 nickel valuable
The 1942-D/D Jefferson nickels are the coins produced as a result of an error that happened while minting at the Denver Mint. The mistake was made because an employee of the U.S. Mint hand-punched the “D” mintmark wrong in movement. This error is very significant, as an extra horizontal impression shows behind the properly equipped “D” mintmark. For accurate mint marks, they used to be hand-punched into the working die until 1989. It went under such a method that any human error could take place. This particular error led to a very valuable and, hence, treasured double-D mintmark. These coins now create a lot of rage among collectors.
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Key features of the 1942 Nickel
The composition of this nickel is 75% copper and 25% nickel, and it is described as the 1942 Jefferson Nickel. The obverse shows Thomas Jefferson in left profile, and the inscription reads “IN GOD WE TRUST,” “LIBERTY,” and “1942.” The reverse contains Monticello, Jefferson’s estate in Virginia, and the phrases “FIVE CENTS,” “UNITED STATES OF AMERICA,” “E PLURIBUS UNUM,” and “MONTICELLO.”
If you want to find out whether your coin might be worth something, start by locating the “D” mintmark, which means it was minted from the Denver Mint. Denver produced 13,838,000 nickels in 1942, but only a small number of them show the rare double-D mintmark error.
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How much is the 1942-D/D nickel worth?
The value of a 1942-D/D nickel depends on its condition and grade, which ranges from MS-58 (slightly circulated) to MS-66 (pristine, uncirculated). Below is an estimate of how much these coins could fetch, according to the Professional Coin Grading Service (PCGS):
- MS-58: Up to $675
- MS-60: Up to $1,350
- MS-61: Up to $1,650
- MS-62: Up to $2,250
- MS-63: Up to $3,600
- MS-64: Up to $4,000
- MS-65: Up to $4,500
- MS-66: Up to $8,000
In a notable auction, one of these nickels in MS-66 condition sold for an impressive $15,275 in 2013.
Factors affecting value
There are few aspects that determine the value of your coin, such as its condition, how rare the coin is, and demand in the collector market. Coins with the least wear usually command the highest prices.
If you have determined that you have a 1942-D/D nickel, it would be best to contact a coin dealer or collector for a primary opinion. Professional grading services are expensive, but they can tell you whether it is worth getting an official appraisal.
Final Thoughts
You might have more coins worth a lot than you think. Inspecting those 1942 nickels closely can unearth a coin worth a couple of thousands of dollars. For the experienced collector or the newbie, a good find on an ordinary day would be the discovery of a 1942-D/D nickel.
So grab the old coins, the magnifying glass, and a sharp eye. With some luck, you may be very surprised to discover a treasure that is hidden in plain sight.
