1968-S Jefferson Nickel Value: Price Guide for Collectors

The 1968-S Jefferson Nickel is worth anywhere from its face value of $5$ cents in worn condition to over $1,200 for rare, high-grade specimens. While most of these coins found in pocket change are common, certain proof strikes and “Full Steps” varieties carry a significant premium for lucky finders.

Condition / Grade	Estimated Value
Circulated / Average Wear	$0.05 – $0.10
Uncirculated (MS60-MS65)	$1.00 – $15.00
Proof (PR65-PR69)	$3.00 – $45.00
Deep Cameo Proof (High Grade)	$100.00+

Historical Significance of the 1968-S Jefferson Nickel

The year 1968 marked a pivotal change for United States coinage. After a three-year hiatus where mint marks were removed to discourage hoarding, the U.S. Mint finally brought them back. This makes the 1968-S Jefferson Nickel particularly interesting for collectors because it represents the return of the “S” mint mark, signifying the San Francisco Assay Office.

If you are unsure whether the coin in your hand is a standard business strike or a proof, using a top coin identifier app can help you distinguish the finish and the mint mark location instantly. During this era, the San Francisco mint was primarily focused on producing high-quality Proof sets for collectors, but they also minted millions of regular circulation nickels.

Understanding the context of this year is vital. In 1968, the Mint moved the mint mark from the reverse (back) of the coin to the obverse (front). If you look closely at your 1968 nickel, you will see the “S” located right next to the date, just behind Thomas Jefferson’s ponytail. This was a major departure from the older nickels where the mark was next to Monticello.

Understanding the San Francisco Mint Mark (S)

The “S” mint mark is often a symbol of quality in the numismatic world. In 1968, the San Francisco Mint produced over 100 million nickels for circulation. While this sounds like a lot, it is actually quite low compared to the Denver Mint, which produced over 200 million. This lower mintage often makes the “S” variant more desirable to those completing a set of Jefferson Nickels.

Because these were struck over 50 years ago, most have suffered from significant wear and tear. Finding one in “Mint State” condition—meaning it looks exactly like it did the day it was made—is the goal of every collector. To get an accurate reading on current market trends, you should check the latest 1968 nickel value data to see how prices have fluctuated recently.

Using tools like CoinKnow allows you to scan your coin and compare it against a database of millions of sold items. This is often the fastest way to see if your “S” mark nickel is a common spender or a hidden gem worth sending to a grading service like PCGS or NGC.

Mintage Type	Quantity Produced	Primary Purpose
1968-S Business Strike	100,396,000	General Circulation
1968-S Proof Strike	3,041,506	Collector Sets

Grading Your 1968-S Jefferson Nickel

The value of your 1968-S nickel is almost entirely dependent on its grade. Grading is the process of determining how much wear a coin has. For the average American finding a coin in their change, it will likely be in “Good” to “Very Fine” condition. At these levels, the coin is generally only worth its metal value or five cents.

However, if you find a coin that still has its original luster—that “frosty” look that reflects light—you might have an Uncirculated specimen. Collectors use a 70-point scale. A 1968-S nickel in MS65 (Mint State 65) is worth significantly more than one in MS60. The difference can be hard to spot with the naked eye, which is why many use the CoinKnow app to zoom in on high-resolution details.

When grading, pay close attention to Jefferson’s cheek and the pillars of Monticello on the back. These are the “high points” of the design and the first places to show wear. If those areas are smooth and flat, the coin is circulated. If the details are sharp and crisp, you should look into professional grading. You can also compare your find with 1968 nickel price lists by grade to see where your coin fits on the spectrum.

The “Full Steps” Rarity for 1968 Nickels

For serious Jefferson Nickel collectors, the “Full Steps” (FS) designation is the holy grail. On the reverse of the coin, there are steps leading up to Monticello. In 1968, the dies used to strike these coins were often worn out or not pressed hard enough, resulting in “mushy” steps that look like a flat ramp.

A 1968-S Jefferson Nickel with five or six clearly defined, unmarred steps is incredibly rare. If you find one, the value can skyrocket from a few dollars to several hundred. High-grade Full Steps examples are the reason why professional auctions sometimes see these nickels sell for four-figure sums.

Finding a Full Steps 1968 nickel is like finding a needle in a haystack. Most of the 100 million coins produced simply didn’t have the detail to begin with. If you think you see clear lines on those steps, it is highly recommended to get a second opinion from a reputable coin dealer or use a digital grading tool.

Step Condition	Value Premium
No Steps visible	None (Standard Value)
5 Full Steps (FS)	$50 – $300
6 Full Steps (FS)	$500 – $1,200+

Proof 1968-S Nickels and Deep Cameo Finishes

Not all 1968-S nickels were meant for your wallet. The San Francisco Mint produced over 3 million Proof coins. These were struck using polished dies and planchets (the blank metal discs), resulting in a mirror-like finish. While many people find these in old collections, they occasionally make their way into circulation.

The most valuable of these are known as “Deep Cameo” (DCAM). This refers to a strong contrast between the shiny, reflective background (fields) and the frosty, white appearance of Jefferson’s portrait. A standard 1968-S Proof might only be worth $3, but a PR69 Deep Cameo is a prize that collectors will pay heavily for.

If you find a nickel that looks unusually shiny, almost like a mirror, do not clean it! Cleaning a coin with a cloth or chemicals will destroy its numismatic value instantly. Keep it in a soft flip or a plastic holder and check the current value of 1968-S proof nickels to determine if it’s worth more than a few dollars.

Common Errors and Varieties to Look For

Beyond the standard grades, error collectors look for 1968-S Jefferson Nickels that have “mistakes” from the minting process. These errors can turn a common five-cent piece into a valuable item. One common error for this era is the “DDR” or Doubled Die Reverse. Look closely at the lettering of “E PLURIBUS UNUM” or “MONTICELLO” for any sign of faint doubling.

Another error to watch out for is the “clipped planchet,” where the coin looks like a bite was taken out of it. There are also “off-center” strikes where the design is shifted to one side. These errors are highly sought after by specialists and can be identified using an app like CoinKnow to match your coin against known error databases.

Even small errors, like a “die crack” (a raised line of metal where the minting die broke), can add $5 to $20 to the value of an otherwise common coin. Always inspect both sides of your 1968 nickels under a magnifying glass or a loupe to ensure you aren’t missing a hidden treasure.

FAQ

Q: Is a 1968-S Jefferson Nickel made of silver?

A: No. The U.S. Mint stopped using silver in nickels in 1945. The 1968-S nickel is made of a cupro-nickel alloy consisting of 75% copper and 25% nickel. It does not have any “melt value” from precious metals.

Q: Where is the mint mark on a 1968 nickel?

A: On the 1968 Jefferson Nickel, the mint mark (D or S) is located on the obverse (front) side. You will find it just to the right of Thomas Jefferson’s portrait, near the bottom of his wig and right next to the date.

Q: Why is my 1968 nickel worth only five cents?

A: Most 1968-S nickels were heavily circulated and were produced in the millions. Unless the coin is in perfect uncirculated condition, is a high-grade proof, or contains a significant mint error, it is generally considered a common date only worth its face value.

Q: What is the most expensive 1968-S nickel ever sold?

A: While prices fluctuate, high-grade specimens with the Full Steps (FS) designation in MS67 have sold at auction for over $1,200. Proof versions in PR70 Deep Cameo also command high prices, often reaching several hundred dollars.