Last Updated on August 4, 2022
After 1938, the design of nickels was changed. The buffalo nickels were not in production anymore and Jefferson nickels were introduced. There were many major changes in this nickel.
Therefore, here is a complete to help you with everything that you want to know about the 1940 nickel.
How Much Is 1940 Nickel Worth?
The 1930 nickel with no mintmark present is worth around $0.10 in good condition and $0.3 in very fine grade condition. In extremely fine condition, the nickel holds a value of $0.40.
But for the uncirculated condition nickel with MS60 grade, the value can up to $2. In addition, the MS63 grade nickel is easily worth about $15.
However, for the 1930 nickel with S and D mintmark present, it holds a value of about $0.12 in good and $0.30 in fine condition. If you are looking at a nickel in extremely fine condition, it holds a value of about $0.70.
On the other hand, the 1930 nickel in uncirculated condition with MS60 grade is worth about $3.5. In addition, the MS63 grade nickel is valued at $18.
What Is The Difference Between Nickel Before 1938 and 1940?
There are many differences that you can notice between the two nickels. Here is the list of changes that were made in the nickels.
The entire design was changed for the nickels that were to be produced in 1939 and after that. On the obverse side of 1940, you can see the portrait of the 3rd President of the US, Thomas Jefferson. The ‘IN GOD WE TRUST’ has been engraved on the left corners of the coin.
On the right side corners, you can see ‘LIBERTY’ and ‘1940’.
Things have changed on the reverse side as well. The portrait of President Jefferson’s mountaintop home is engraved right in the center of the nickel.
The 1940 nickel is designed by a different designer that is Felix Schlag. Schlag is not a new engraver to the US government. He has contributed a lot to the US coinage.
He designed some of the best two coins previously as well.
Is There Any Silver Found in 1940 Nickel?
No, there is no silver found in 1940 nickel as it is the smallest denomination in the US. Using silver was never an option by the government as it wouldn’t reach the value that nickel is supposed to have.
On the other hand, you can find copper and nickel in the 1940 nickel coin. Each nickel coin contains 75% copper and just 25% nickel. Many people try to melt the nickels to acquire a high melt value due to the content of copper found in each coin.
Is There Any Melt Value of 1940 Nickel?
Yes, as long as there is metal in any coin there will be a melt value that can be acquired by melting the coin. There is copper and nickel a 1940 nickel so there is melt value for this coin. It may not be a high value as copper is common metal and not a precious one such as silver or gold.
Each coin of 1940 nickel contains around $0.0558 of melt value. If you are looking for the melt value it would be best to use bad condition 1940 nickels for such purpose. That way you won’t be at any loss.
Otherwise, if you have high-condition nickel it would be best to sell it. You can get a higher value that way compared to the melt value.
Is The Melt Value Same For Every Condition the 1940 Nickel Is In?
Yes, the melt value is the same for every condition. The condition of the coin doesn’t determine the melt value. It depends on the metal content that a coin contains. If the coin has precious metal such as silver or gold the melt value with be higher.
While on the other hand, copper, nickel, zinc, and tin which are mostly used in coins don’t have a high value in the market. So the melt value will also be low.
Is eBay Safe To Buy 1940 Nickel From?
Yes, eBay is one of the safest sites to deal with old coins and other collectibles. But that doesn’t mean that the person selling them on that site is safe. So you have to be always careful whenever you are dealing with collectibles. You never know when you may be dealing with a fake coin.
It would be best to ask for a certificate of authenticity of the coin you are looking to buy.