The 1964 Jefferson nickel may seem like a standard five-cent coin, but some unique errors can make it significantly more valuable. Due to minting mistakes ranging from die errors to off-center strikes, some of these nickels can fetch prices well above face value. Collectors and numismatists actively seek out these error coins, sometimes selling them for thousands of dollars at auctions. Here, we’ll dive into the types of errors that can increase the value of a 1964 nickel and provide a guide to identifying these rare varieties.
Types of 1964 Nickel Errors
Certain errors can transform a regular 1964 Jefferson nickel into a valuable collectible. Below are the primary error types that can significantly increase the coin’s value:
1. Full Steps Designation (FS)
- What It Is: A Full Steps (FS) designation refers to the clarity of the steps on the reverse side of the Monticello building. Coins with this designation show at least five distinct, uninterrupted steps. Due to increased production demands at the U.S. Mint in 1964, achieving such a clear strike was rare.
- Value: Depending on the grade, a Full Steps nickel can range from $20 to an incredible $15,000. For example, a 1964 FS Nickel graded MS67 sold for $14,100 in 2017.
2. Double Die Errors
- What It Is: Double die errors occur when design elements such as letters or numbers are doubled due to a misalignment during the minting process. These errors are often visible under magnification and can add considerable value.
- Value: Depending on the severity of the doubling and the coin’s overall condition, these errors can be worth anywhere from $50 to over $1,000.
3. Die Cracks and Breaks
- What It Is: Sometimes, the die used to strike the coin develops cracks, resulting in raised lines or blobs of metal on the coin’s surface, often near the rim or central design.
- Value: Die crack errors can increase a nickel’s value by $10 to $50, depending on the prominence and location of the crack.
4. Off-Center Strikes
- What It Is: An off-center strike happens when the coin is not perfectly aligned with the dies during minting, causing part of the design to be missing.
- Value: The value of an off-center error depends on the extent of the misalignment, typically ranging from $20 to over $100.
5. 1964-D/D RPM (Repunched Mint Mark)
- What It Is: A repunched mint mark (RPM) error occurs when the “D” mint mark (for Denver) is struck more than once in different positions.
- Value: An RPM error can boost the value of the coin by $10 to $50, with top-quality examples fetching even higher prices.
Factors Influencing the Value of 1964 Nickels
Several factors contribute to the market value of error coins. Here are the key elements to consider:
- Condition (Grade): The coin’s grade plays a significant role in determining its value. Higher-grade coins, especially those in Mint State (MS) conditions, command premiums over circulated coins.
- Error Rarity: The less common the error, the more valuable the coin. Rare errors, such as Special Mint Set (SMS) coins or significant off-center strikes, are highly sought after.
- Market Demand: Collector interest can vary over time, influencing prices. Currently, demand is high for Full Steps nickels and certain SMS coins.
Notable Auction Records for 1964 Jefferson Nickels
Here are some of the highest recorded auction prices for 1964 Jefferson nickels:
| Coin Type/Grade | Error Type | Sale Price | Auction Date |
|---|---|---|---|
| 1964-D MS67 FS | Full Steps (FS) | $14,100 | 2017 |
| 1964 SMS SP68 | Special Strike | $32,900 | 2016 |
| 1964-D MS66 FS | Full Steps | $6,325 | 2009 |
| 1964 (P) MS67 FS | Full Steps | $9,700 | 2022 (eBay) |
How to Identify Valuable 1964 Nickels
To determine if your 1964 nickel is a valuable error coin, follow these steps:
- Inspect the Reverse: Use a magnifying glass to examine the steps on the Monticello building. Look for five or six distinct steps, which indicate a Full Steps variety.
- Check for Doubling: Look closely at the date and lettering, especially “In God We Trust,” for signs of doubled elements.
- Examine the Mint Mark: If your coin has a “D” mint mark, check for signs of repunching, as this can increase its value.
- Inspect for Die Errors: Look for any die cracks or off-center strikes, which could make the coin more valuable.
Where to Sell Valuable 1964 Nickels
If you think you have a valuable 1964 nickel, here are some places to sell it:
- Coin Dealers: Professional coin dealers can evaluate your coin and offer a fair market price.
- Auction Houses: Auction houses like Heritage Auctions and Stack’s Bowers specialize in rare and high-grade coins.
- Online Platforms: Websites like eBay and dedicated coin forums can be good venues for mid-range coins.
The 1964 Jefferson nickel is far more than just pocket change. Due to various minting errors, some of these coins are worth significantly more than their face value. Whether you’re an avid collector or just found a 1964 nickel in your change, a close inspection could reveal a hidden treasure worth much more than five cents.
FAQs:
How do I know if my 1964 nickel is valuable?
Examine the coin for errors like Full Steps, doubled die features, repunched mint marks, or off-center strikes, as these can increase its value.
Are all 1964 nickels with errors valuable?
Not all errors will make a 1964 nickel valuable; the coin’s condition, type of error, and demand for that error determine its worth.
What is the most valuable 1964 Jefferson nickel?
A 1964 SMS SP68 sold for $32,900 in 2016, making it one of the most valuable examples.
