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The 2016-P R.M. Nixon Dollar Coin is worth anywhere from its $1 face value in circulated condition to over $50 in high-grade uncirculated condition. While most examples found in pocket change are only worth their legal tender value, certain strike qualities and labels can significantly increase what collectors are willing to pay.
| Condition | Estimated Value |
|---|---|
| Circulated / Pocket Change | $1.00 |
| Uncirculated (MS63) | $2.50 – $4.00 |
| Choice Uncirculated (MS65) | $8.00 – $15.00 |
| Gems / Top Grades (MS67+) | $40.00+ |
History of the 2016-P Richard M. Nixon Dollar Coin
The Richard M. Nixon dollar was released in 2016 as part of the Presidential $1 Coin Program, which began in 2007. This program was designed to honor each U.S. President in the order they served. By the time 2016 rolled around, the program was wrapping up, and the Nixon dollar was one of the final three coins issued that year.
If you are unsure whether you have a genuine uncirculated specimen or a common worn coin, using a top coin identifier app can help you distinguish the subtle luster and strike quality differences. Because these coins were “Not Intended For Circulation” (NIFC) since 2012, they were primarily sold in rolls and bags directly to collectors by the U.S. Mint.
This means you won’t typically find a 2016-P Nixon dollar in your everyday change unless a collector spent their stash. The “P” mint mark indicates it was produced at the Philadelphia Mint. Because of their limited production compared to early years of the program, these coins hold a slightly higher intrigue for modern numismatists using tools like CoinKnow to track their growing collections.
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Understanding the 2016-P Nixon Dollar Minting Process
The Philadelphia Mint produced exactly 4,480,000 of the Richard Nixon dollar coins. While four million might sound like a lot, it is a tiny fraction of the hundreds of millions produced for presidents like Washington or Lincoln. This lower mintage is a primary driver for the current market value of 2016 Presidential dollars.
One unique feature of this coin is the “incuse” edge lettering. Unlike traditional coins where the date and mint mark are on the face, the 2016-P Nixon dollar features the date, mint mark, and the motto “E Pluribus Unum” engraved into the edge of the coin. If the edge is smooth, you might have found a rare mint error.
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Collectors often look for “Position A” or “Position B” edge lettering. This refers to whether the edge text is upright or upside down when the portrait is facing up. Both positions are common, but serious collectors often want both for a complete set. Professional apps like CoinKnow allow you to log these specific variations easily.
Grading and Quality of the 2016 Richard Nixon Dollar
When determining the value of your Nixon dollar, the condition or “grade” is the most important factor. High-grade coins are those that have never been handled by the public and retain their original mint luster. The price for uncirculated 2016-P Nixon dollars depends heavily on the presence of contact marks or “bag marks.”
Most coins from the mint will grade between MS63 and MS65 on the 70-point Sheldon scale. An MS63 coin might have some scuffing from being in a bag with other coins. An MS67 or MS68 coin is nearly perfect and is very rare, often fetching a significant premium at auction.
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| Grade (Sheldon Scale) | Description | Market Price |
|---|---|---|
| AU58 (About Uncirculated) | Slight wear on highest points | $1.25 |
| MS63 (Mint State) | Noticeable bag marks, good luster | $3.00 |
| MS66 (Gem Mint State) | Very few marks, beautiful strike | $22.00 |
| MS68 (Premium Gem) | Nearly perfect, elusive grade | $150.00+ |
Valuable Errors to Look For in Nixon Dollars
While the 2016-P Richard Nixon dollar is generally well-made, errors do occur during the minting process. One of the most sought-after errors in the Presidential series is the “Missing Edge Lettering” error, though this was much more common in earlier years than in 2016.
Another error to check for is the “Double Edge Lettering,” where the coin passes through the edging machine twice. This creates overlapping text that looks blurry or ghosted. Using a magnifying glass or the high-resolution zoom on CoinKnow can help you spot these anomalies.
Die cracks and cuds are also possible. These appear as raised lines of metal where the coin die broke. While not as famous as the edge errors, collectors will pay $10 to $50 for a Nixon coin with a significant or unique die break. Always inspect the reverse of the coin, featuring the Statue of Liberty, for these defects.
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Where to Sell Your 2016-P R.M. Nixon Coin
If you discover that your coin is in excellent condition or features a rare error, you may want to sell it. For coins worth only face value, the best place is simply the bank or a vending machine. However, for “Gem” quality coins, online marketplaces are your best bet.
eBay is a popular platform for selling individual uncirculated presidential dollars. Look for “Sold” listings to see what buyers are actually paying, rather than just the asking price. Local coin shops may buy these if they are part of a larger set, but they rarely buy single common presidential dollars.
If you have a coin you believe would grade MS67 or higher, it may be worth sending to a professional grading service like PCGS or NGC. A certified high-grade Nixon dollar is much easier to sell for a premium than an uncertified one, as the buyer has a guarantee of the coin’s quality and authenticity.
| Platform | Best For | Potential Price |
|---|---|---|
| eBay | Single uncirculated coins | $2 – $15 |
| Heritage Auctions | Certified Top Grades (MS68+) | $100+ |
| Local Coin Store | Quick cash / Bulk rolls | 60-70% of value |
The Future Value of Presidential Dollars
Many people ask if the 2016-P Nixon dollar will increase in value over time. Because the U.S. Mint stopped producing these coins for general circulation in 2012, the supply is much lower than earlier issues. This scarcity suggests that as time goes on and more coins are lost or damaged, the value of pristine “Mint State” examples should rise slowly.
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However, don’t expect to retire on a single Nixon dollar. These are modern coins, and millions were preserved by collectors. The key to future value is “population.” In the coin world, the fewer coins that exist in a certain grade, the more expensive they become. Keeping your coins in protective flips or capsules is essential to preserving their future worth.
By staying updated with apps like CoinKnow, you can monitor market trends and see if interest in the Presidential Series is spiking. As younger collectors enter the hobby, they may look to complete their sets, creating new demand for the lower-mintage 2016 issues like the Nixon and Gerald Ford dollars.
FAQ
Q: Why doesn’t my 2016-P Nixon dollar have a date on the front?
A: The Presidential $1 coins feature “incuse” edge lettering. The date (2016), the mint mark (P or D), and the motto “E Pluribus Unum” are all located on the thin edge of the coin rather than the flat faces.
Q: Can I spend a Richard Nixon dollar at the store?
A: Yes, these are legal tender United States coins worth exactly $1. However, since the mint did not release them into general circulation in 2016, they are somewhat uncommon to find in a cash register.
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Q: How can I tell if my coin is from Philadelphia or Denver?
A: Look at the edge of the coin. You will see a small “P” for Philadelphia or a “D” for Denver. The 2016-P is the Philadelphia strike, which is the focus of this guide.
Q: Is there a gold-colored Nixon dollar made of real gold?
A: No. The Nixon dollar is composed of a copper core with a manganese brass cladding, which gives it a golden color. It does not contain any actual gold bullion.
Q: What is the most expensive Nixon dollar ever sold?
A: Highly graded specimens in MS68 or MS69 condition can sell for hundreds of dollars at auction, especially if they have a special “First Day of Issue” or “First Strike” designation from a grading service.