The U.S. nickel, a five-cent coin, boasts a rich history beginning in 1794. Initially called the “half dime,” it wasn’t until 1866 that the term “nickel” was officially adopted. Over time, the coin’s design and composition have undergone numerous transformations.
A pivotal moment occurred in 1938 when the Jefferson nickel, featuring Thomas Jefferson and his Monticello estate, replaced the iconic Buffalo nickel. Among the various Jefferson nickels, the 1971 edition stands out for its design nuances and rare error varieties, making it a sought-after collectible.
A Transitional Period: The Introduction of the 1971 Jefferson Nickel
The 1971 Jefferson nickel emerged during a critical transition in the U.S. Mint’s production processes. By the close of 1970, the Proof Jefferson nickel master dies had significantly deteriorated, losing intricate details.
To resolve this, the U.S. Mint crafted new master dies to rejuvenate the original design. The obverse features Thomas Jefferson, while the reverse highlights his Monticello home.
Design Variations in the 1971 Jefferson Nickel
The redesign introduced minor yet intriguing variations in the coin’s details:
- ODV-021 Obverse Design: Features thinner-than-usual letters in the word “trust.”
- RDV-005 and RDV-006 Reverse Designs:
- RDV-005: Displays low-relief railings on Monticello’s rooftop.
- RDV-006: Exhibits a stronger, more prominent relief.
These subtle differences in the lettering and relief are key identifiers for collectors.
The Elusive “No S” Mintmark Error
One of the most exciting aspects of the 1971 Jefferson nickel is the “No S” mintmark error. In 1971, the U.S. Mint ceased producing nickels for general circulation at the San Francisco facility. Henceforth, all San Francisco-minted nickels were issued as proof coins for collectors, identifiable by the “S” mintmark. However, during this period, some proof coins were mistakenly struck without the “S” mintmark.
Why Is the “No S” Error Significant?
- The vast majority of 1971-S proof nickels include the mintmark, making the “No S” error extremely rare.
- Collectors highly prize these coins due to their scarcity and historical significance.
Valuation of the 1971 “No S” Jefferson Nickel
The value of a 1971 Jefferson nickel hinges on two factors: condition and the presence of the “No S” mintmark error.
| Condition | Estimated Value |
|---|---|
| Standard 1971-S Proof Nickel | A few cents above face value |
| Error Coins (Lower Grades) | Up to $800 |
| Error Coins (High Grades) | $1,000–$1,500 |
| Record Sale (2012) | $2,070 |
The record-setting $2,070 sale at the January 2012 Heritage FUN Signature Auction underscores the high demand for rare, well-preserved examples.
Identifying a 1971 “No S” Jefferson Nickel
If you suspect you have a 1971 “No S” Jefferson nickel, it’s vital to confirm its authenticity. Here’s how to identify and evaluate the coin:
- Check for the Mintmark: Inspect the reverse side above Monticello. The absence of the “S” mintmark indicates a potential error coin.
- Assess Condition: The coin’s value increases significantly with better preservation.
- Seek Professional Verification: Have your coin appraised by a reputable numismatist or coin dealer to confirm its rarity and value.
Other design variations, such as differences in the obverse and reverse relief, may also enhance the coin’s appeal to collectors.
FAQs
What makes the 1971 Jefferson nickel unique?
The 1971 Jefferson nickel is notable for its design variations and the rare “No S” mintmark error, which occurred during a transitional phase in U.S. Mint operations.
How rare is the “No S” mintmark error?
The “No S” error is exceptionally rare, as most 1971-S nickels were struck with the mintmark. This rarity makes it highly desirable among collectors.
How much is a 1971 “No S” Jefferson nickel worth?
Depending on its condition, the value can range from $800 for lower-grade examples to over $2,000 for high-grade coins.
