1968 Nickel Value Checker: Errors List, “D”, “S” Mint Mark Worth

1968 Nickel value ranges from $0.05 face value to $4,140. A Grade 66 San Francisco mint example set that record at Heritage Auctions in June 2004. Go ahead and upload yours in the tool below — you’ll get a quick value range without any hassle. Scroll down to see what 1968 Nickels are going for on eBay right now.

 

1968 Nickel Value By Variety

The 1968 nickel comes in several varieties from Denver and San Francisco Mints, each with distinct values ranging from a few cents for circulated coins to thousands of dollars for rare Full Steps and premium proof specimens.

If you know the grade of your coin, you can find the exact price below in the Value Guides section.

Also Read: Top 100 Most Valuable Jefferson Nickels Worth Money List (1938-Present)

 

Top 10 Most Valuable 1968 Nickel Worth Money

The most valuable 1968 nickels showcase significant price variation based on grade and special characteristics. The top auction record belongs to a 1968-S Full Steps specimen graded MS-66+ that sold for $8,800.88 at GreatCollections — a figure that reflects just how hard it is to find a well-struck example of this date.

The second-ranked coin is a 1968-S RPM variety with Full Steps designation, reaching $1,705 for a PR67 at GreatCollections in April 2014. Denver mint nickels also appear prominently, with a top-grade 1968-D MS-68 example achieving $1,140 at Heritage Auctions in September 2022.

San Francisco mint coins populate the remaining positions, with values ranging from $306 to $588. Notably, a 1968-S DCAM (Deep Cameo) proof specimen in PR68 achieved $490 at Heritage Auctions in September 2006. This proof finish creates striking visual appeal through intensely frosted devices set against mirror-like fields.

The list illustrates how condition, mint location, and special designations like Full Steps (FS) or Deep Cameo (DCAM) significantly influence 1968 nickel values in today’s collecting market.

 

History Of The 1968 Nickel

The Jefferson nickel series began in 1938 with a public competition that attracted 390 artists. Felix Schlag’s winning design earned him a $1,000 prize and depicted Thomas Jefferson on the obverse and his Virginia home, Monticello, on the reverse. By 1968, this classic design had served American coinage for three decades.

In 1966, in a nod to the designer’s contribution, the initials “FS” (for Felix Schlag) were added to the obverse of the coin — a detail many collectors overlook. These initials appear near the base of Jefferson’s portrait and remain a small but historically meaningful feature of the design.

The early 1960s brought a serious coin shortage across the United States. Rising silver prices and hoarding behavior created production pressure for the U.S. Mint. In response, mint officials removed mintmarks from all coins between 1965 and 1967, partly to discourage speculative collecting activity.

Proof sets were also suspended during those three years, replaced by Special Mint Sets (SMS) instead. The SMS coins, while not as sharp as true proofs, have gained appreciation among modern collectors who recognize their scarcity.

The year 1968 marked a pivotal moment in numismatic history. U.S. Mint Director Eva Adams ordered mintmarks to return — but this time they appeared on the obverse of all coins rather than the reverse, where they had previously been located on nickels. According to numismatic historian R.W. Julian, Director Adams also arranged for all proof coin production to move to the re-opened San Francisco Mint, removing this responsibility from Philadelphia.

No Philadelphia Mint nickels were produced in 1968. Only Denver and San Francisco facilities struck nickels this year. Denver produced 91,227,880 business strikes while San Francisco struck 103,437,510 business strikes — an uncommon situation where San Francisco’s output exceeded Denver’s. San Francisco also minted 3,041,506 proof specimens exclusively for collectors.

Proof production itself underwent major changes in 1968. These proofs came packaged in new hard plastic cases, replacing the earlier cellophane packaging used through 1964. The Jefferson nickel maintained its composition of 75% copper and 25% nickel throughout, giving it the familiar silver-like appearance that distinguishes it from wartime silver nickels of 1942–1945.

Also Read: Top 60+ Most Valuable Buffalo Nickels Worth Money

 

Is Your 1968 Nickel Rare?

Most 1968 nickels remain common in circulated condition due to their large mintages. However, certain varieties command premium prices that make them anything but ordinary.

The single rarest business strike 1968 nickel is the 1968-D Full Steps. According to PCGS CoinFacts, only one example has ever been certified with the Full Steps designation — a PCGS MS-64 FS that sold for $2,695 at GreatCollections in December 2016. GreatCollections has reported selling only this single certified example in 15 years of operation, making it one of the rarest modern nickels by strike quality.

The 1968-S is also very rare with Full Steps. PCGS has certified only three examples at the MS-66 level, which represents the finest known grade for that issue. Bag marks from storage — not weak dies — are the primary reason so few 1968-S nickels earn the Full Steps designation.

To quickly assess your specific coin’s rarity and current market value, use the Coin Identifier and Value App for instant evaluation.

 

Key Features Of The 1968 Nickel

The 1968 Jefferson nickel features Felix Schlag’s classic design from 1938, with a historically significant change: mintmarks relocated to the obverse for the first time. The coin maintained its traditional copper-nickel composition and standard specifications throughout production.

The Obverse Of The 1968 Nickel

The obverse displays Thomas Jefferson’s left-facing portrait as the central element. The inscription “IN GOD WE TRUST” appears in block letters along the left rim, while “LIBERTY” sits on the right side above the date.

The mintmark appears below the date — marking the first time this obverse position was used on a Jefferson nickel. Felix Schlag’s initials “FS” also appear near the lower left of the portrait, a design addition made in 1966 to credit the original artist. The obverse layout remains clean and balanced with well-proportioned text elements.

The Reverse Of The 1968 Nickel

The reverse features Monticello, Thomas Jefferson’s famous Virginia estate, as its centerpiece. This architectural rendering shows the front elevation of the historic mansion.

The word “MONTICELLO” appears in block letters directly below the building. The denomination “FIVE CENTS” curves below the mansion’s name. Along the upper rim, “E PLURIBUS UNUM” is inscribed in capital letters, while “UNITED STATES OF AMERICA” follows the lower rim’s curve.

Collectors particularly value coins showing the Full Steps (FS) designation on Monticello’s entrance steps. PCGS requires at least five complete, unbroken horizontal step lines at the base of the building — while NGC distinguishes between 5FS (five full steps) and 6FS (six full steps). Most 1968 nickels fail this standard due to bag marks from storage rather than weak die pressure.

Other Features Of The 1968 Nickel

The 1968 nickel maintains the standard Jefferson nickel specifications established decades earlier. The coin weighs exactly 5 grams with precise consistency across all specimens.

Its diameter measures 21.2 millimeters, while thickness reaches 1.95 millimeters. The composition consists of 75% copper and 25% nickel throughout — note that unlike the 1942–1945 wartime nickels, which contained 35% silver and featured a large mintmark above Monticello, the 1968 nickel contains no silver whatsoever. The edge remains plain and smooth without any reeding or decoration.

All 1968 nickels carry either D or S mintmarks. No Philadelphia Mint examples exist for this year, making it unique in the series.

Also Read: Top 100 Rarest Nickels Worth Money (Most Expensive)

 

1968 Nickel Mintage & Survival Data

The 1968 nickel production data reveals substantial output from both operating mint facilities. San Francisco produced 103,437,510 business strikes, surpassing Denver’s 91,227,880 coins — an unusual situation where San Francisco exceeded Denver’s production volume for nickels.

San Francisco also struck 3,041,506 proof coins specifically for collectors. These proofs are categorized into three distinct finish types: regular proof, Cameo (CAM), and Deep Cameo (DCAM). Cameo means moderate frosting on design elements against mirrored fields, while Deep Cameo describes the most dramatic contrast — intensely frosted devices against deeply reflective backgrounds.

Only Deep Cameo specimens have documented survival data. Approximately 1,292,640 DCAM examples exist today from the original proof mintage, yielding a 42.5% survival rate. This relatively high percentage demonstrates how carefully collectors preserved these premium proof coins.

Business strikes from Denver and San Francisco lack precise survival records, though their high mintages ensure circulated examples remain common. The key takeaway: it is not mintage that makes 1968 nickels rare — it is strike quality, specifically the Full Steps designation.

Also Read: Jefferson Nickel Value (1938-Present)

 

The Easy Way to Know Your 1968 Nickel Value

Determining your 1968 nickel’s value requires examining several key factors. First, identify the mintmark located below the date on the obverse — “D” for Denver, “S” for San Francisco.

Next, check the coin’s condition by assessing wear on Jefferson’s portrait and Monticello’s details. The key question is whether the steps of Monticello are fully visible and unbroken — this is called the Full Steps designation and can increase a coin’s value from $12 to over $2,000.

For a quick and reliable valuation of your specific coin, download the Coin Identifier and Value App for instant results.

 

1968 Nickel Value Guides

• 1968-D Nickel: Denver business strike with 91,227,880 minted. Common in circulated condition, with uncirculated coins ranging from modest premiums to over $1,000 in top grades. Full Steps designation is an extreme rarity — PCGS has certified only a single MS-64 FS example in the history of the service.
• 1968-S Nickel: San Francisco business strike with 103,437,510 produced. Widely hoarded by collectors when released due to the restored “S” mintmark. The finest PCGS-certified example is a lone MS-69, making it one of very few modern Jefferson nickels to reach that grade. Full Steps examples are very rare, with only three certified at MS-66 by PCGS.
• 1968-S Proof: Regular proof strikes from San Francisco with 3,041,506 minted. These collector coins feature sharp details and mirror-like surfaces. Values increase significantly in higher proof grades. This was the first year the San Francisco Mint took over all proof production from Philadelphia.
• 1968-S CAM (Cameo): Proof coins showing moderate contrast between frosted design elements and mirrored fields. Cameo contrast diminishes as dies wear during production, making earlier strikes more likely to earn this designation. These offer superior visual appeal over regular proofs at accessible price points.
• 1968-S DCAM (Deep Cameo): Premium proof coins with the most intense frosting on both obverse and reverse, creating a dramatic black-and-white visual effect against deeply mirrored backgrounds. PCGS numismatist Jaime Hernandez notes this issue is very common in PR65–67 DCAM condition, but PR69 DCAM examples — while still numbering in the hundreds — command significantly higher premiums due to collector demand.

Each category serves different collector preferences and budget levels, creating a diverse market for these historic transitional-year nickels.

 

1968-D Nickel Value

The 1968-D nickel shows one of modern numismatics’ most dramatic value contrasts. This Denver issue is extremely common in all grades — PCGS has certified over 180 examples at MS-66 alone, with just two finer — yet it is simultaneously one of the rarest Jefferson nickels in existence with Full Steps.

PCGS CoinFacts numismatist Ron Guth describes the 1968-D Full Steps as “an extreme rarity,” noting that PCGS has certified only a single example — an MS-64 FS. This coin sold for $2,695 at GreatCollections in December 2016. GreatCollections itself has reported selling only this one certified example in 15 years of auctions, confirming its status as a once-in-a-generation find.

For standard strikes without Full Steps designation, a top-grade MS-68 specimen achieved $1,140 at Heritage Auctions in September 2022. This was the finest known example for regular strikes, demonstrating that even without FS, the highest grades deliver significant premiums.

Auction records demonstrate steady value appreciation as coin grades improve from lower to higher mint state levels.

Market activity reflects consistent collector interest, with trading volume concentrated in commonly available circulated and uncirculated grades.

 

1968-S Nickel Value

The 1968-S nickel marks the return of San Francisco Mint production after a four-year absence, and it was widely hoarded by collectors excited by the restored “S” mintmark. This hoarding actually helped preserve a large number of uncirculated examples — which is why the coin is common in gem mint state.

In a remarkable distinction, the 1968-S is one of very few modern Jefferson nickels represented at the PCGS MS-69 grade level. PCGS CoinFacts notes that “this coin is a full two points better than the next-best examples of this date,” confirming the MS-69 as an exceptional outlier.

Full Steps 1968-S specimens, however, are an entirely different story. Despite better average strike quality than Denver, bag marks from storage keep most coins from qualifying. The finest PCGS-certified FS examples reach only MS-66, with just three coins certified at that level.

The auction record for the 1968-S FS stands at $8,800.88 for a PCGS MS-66+ FS specimen sold at GreatCollections. Standard 1968-S nickels without Full Steps peaked at $588 for a PCGS MS-64 at Heritage Auctions in November 2014.

Auction records reveal consistent value growth as specimens achieve higher grades in the mint state range.

Market activity displays fluctuating collector interest over time, with trading volumes varying across different months.

 

1968-S Proof Nickel Value

 

The 1968-S proof nickel marks a permanent shift in American proof coin production. Before 1968, proof coins were produced at the Philadelphia Mint. Mint Director Eva Adams transferred all proof production to the re-opened San Francisco facility this year — a decision that has remained in effect ever since.

A total of 3,041,506 proof nickels were struck exclusively for collectors, each bearing the “S” mintmark below the date on the obverse. Production involved multiple strikes on polished planchets using specially prepared dies, though over-polishing of dies occasionally softened some finer design details. Collectors ordered proof sets in maximum quantities regardless, making 1968 proof sets common today.

The 1968-S proof is also notable as a “hotbed” for valuable die varieties. Collectors familiar with Doubled Die Obverse (DDO) varieties — meaning the die received multiple misaligned impressions from the hub, creating a shadowed doubling effect on lettering — should examine 1968-S proofs closely.

Strong DDO varieties in proof condition have sold for $200–$1,200. Regular proof specimens without Cameo designation achieved $259 for a PR68 example in January 2023.

Auction records show progressive value increases as proof specimens achieve higher quality grade levels.

Market activity shows varying collector engagement across different months throughout the tracking period.

 

1968-S CAM Nickel Value

The 1968-S Cameo (CAM) nickel features moderate contrast between frosted design elements and mirror-like fields. Cameo contrast results from specialized die preparation — freshly prepared dies impart maximum frost, but this frosting diminishes as the die wears during production. As a result, the earliest coins struck from a given die are the most likely to earn the Cameo or Deep Cameo designation.

To earn a CAM designation, both sides of the coin must display adequate frosting on Jefferson’s portrait and Monticello’s architectural details. Coins that show frosting on only one side do not qualify. This is a middle designation between standard proofs and the premium Deep Cameo (DCAM) finish.

A PR69 Cameo specimen achieved $49 in February 2018. These coins offer collectors enhanced visual appeal over regular proofs at accessible price points, making them a popular choice for budget-conscious collectors building proof type sets.

Auction records show price variations influenced by grade levels, with higher grades achieving stronger results.

Market activity demonstrates fluctuating collector interest throughout the year, with trading volumes varying across monthly periods.

 

1968-S DCAM Nickel Value

The 1968-S Deep Cameo (DCAM) nickel represents the premium tier of proof coinage from this year. DCAM designation requires intensely frosted devices on both obverse and reverse with no reflective breaks — the resulting coin displays a stark black-and-white visual effect that collectors prize above all other proof finishes.

PCGS numismatist Jaime Hernandez notes the 1968-S Proof was “very well struck,” making deep cameo examples easier to find than for many other years. The issue is very common in PR65–67 DCAM condition.

PR68 DCAM examples are a little more challenging but can be purchased at a reasonable price. PR69 DCAM specimens are scarcer, yet hundreds still exist — though demand at that level exceeds available supply, which pushes prices higher.

The documented auction record is a PR68 Deep Cameo specimen that achieved $490 at Heritage Auctions in September 2006. This represents strong collector demand for premium-quality examples even at accessible grades.

Also Read: 22 Rare Nickel Errors List with Pictures (By Year)

 

Rare 1968 Nickel Error List

While 1968 nickels generally lack widespread major errors, several notable die varieties and mint mistakes exist that attract serious collector attention. These range from repunched mintmarks on San Francisco proof coins to dramatic wrong planchet errors and doubled dies. Each error type carries its own value profile depending on strength of the error and grade.

1968-S RPM FS-501 (FS-038)

The 1968-S Repunched Mintmark (RPM) variety — cataloged by PCGS as FS-501, also known as FS-038 and Variety Vista’s RPM-002 — features a strong, clear “S” punched over another “S,” with the underlying mintmark clearly visible to the East. This error occurred during die preparation when the mintmark punch was applied more than once without perfect alignment.

Repunched mintmarks on proof coins are exceptionally scarce because proof dies receive extra scrutiny during preparation. According to PCGS CoinFacts, as of 2013 only two examples had been certified by PCGS — making this a remarkable rarity for Jefferson nickel specialists. PCGS tracks this variety and its Cameo/Deep Cameo finishes separately under its own catalog numbers.

A PR67 example achieved $1,705 at GreatCollections in April 2014, demonstrating the significant premium this rare variety commands over standard proof nickels.

1968-S Doubled Die Obverse (DDO)

The 1968-S proof nickel is considered a “hotbed” for Doubled Die Obverse (DDO) varieties. A DDO occurs when the hub strikes the working die more than once with slight misalignment — permanently embedding a doubled image into the die that appears on every coin struck from it.

On 1968-S proof nickels, the doubling is most visible on the letters of “LIBERTY,” “IN GOD WE TRUST,” and the date. Several DDO varieties exist, with Class I rotated hub doubling creating the most dramatic and sought-after examples. Strong DDO varieties in proof condition have sold for $200 to $800, while the most dramatic examples (including WDDO-001 and WDDO-005) command premiums of $500 to $1,200.

Business strike versions with visible doubling typically range from $50 to $150 depending on the strength of the doubling.

1968 Nickel Struck on Wrong Planchet

Among the most visually dramatic 1968 nickel errors are wrong planchet strikes — nickels accidentally struck on cent planchets. These errors occur when a penny blank is fed into the nickel press, producing a copper-colored coin with nickel dies but weighing only approximately 3.1 grams instead of the standard 5 grams for a nickel.

The easiest way to identify this error is the color: a wrong planchet nickel will appear copper-colored rather than the usual silver. Diameter will also be slightly smaller than normal due to the smaller cent planchet. A 1968-S nickel struck on a cent planchet typically sells for $1,500 to $3,000, with high-grade examples reaching $4,000 to $5,500 at major auctions. Professional authentication by PCGS or NGC is strongly recommended for any suspected wrong planchet error.

1968-D RPM Varieties

The 1968-D features several minor Repunched Mintmark (RPM) varieties cataloged by Variety Vista. The most notable is RPM-001 (D/D North), which shows a slight secondary “D” visible to the north of the primary mintmark when examined under 10x magnification.

These business strike RPM varieties carry modest premiums over standard 1968-D nickels and require a loupe to identify. Certified examples in high uncirculated grades can command $10 to $50 above standard coin values, though they are far less dramatic and valuable than the 1968-S proof RPM variety above.

 

Where To Sell Your 1968 Nickel?

Selling your 1968 nickel requires choosing the right marketplace to maximize value. Whether you own common circulated examples or rare varieties like Full Steps specimens, selecting an appropriate venue matters significantly. We’ve compiled comprehensive information on the best places to sell coins online, including detailed pros and cons for each platform to help you make informed decisions.

Check out now: Best Places To Sell Coins Online (Pros & Cons) 

 

1968 Nickel Market Trend

*Market Trend Chart showing the number of people paying attention to this coin.

 

FAQ About The 1968 Nickel Value

1. Where is the mint mark on a 1968 nickel?

The mintmark on a 1968 nickel is on the obverse (front) side, positioned directly below the date. This was a significant change — 1968 was the first year mintmarks appeared on the obverse of Jefferson nickels, after returning from their three-year absence (1965–1967) when they were removed from all U.S. coins entirely.

All 1968 nickels feature either a “D” (Denver) or “S” (San Francisco) mintmark, as no Philadelphia coins were produced that year.

2. What is a 1968 nickel made of?

The 1968 nickel is composed of 75% copper and 25% nickel — the standard cupro-nickel alloy used for Jefferson nickels. It contains no silver, unlike the wartime nickels of 1942–1945 which used a 35% silver alloy and featured a large mintmark above Monticello.

The coin weighs exactly 5 grams, measures 21.2 millimeters in diameter, has a thickness of 1.95 millimeters, and features a plain, smooth edge without any reeding.

3. How much is a 1968 nickel worth today?

Regular 1968 nickels in circulated condition are worth approximately $0.08 to $0.26, while uncirculated specimens can reach $9.00 or more. However, values increase dramatically for special varieties.

The all-time auction record is $8,800.88 for a 1968-S Full Steps specimen in PCGS MS-66+ grade sold at GreatCollections. The 1968-D Full Steps holds its own record of $2,695 in PCGS MS-64 FS — with only one such example ever certified.

4. What is a Full Steps (FS) designation on a 1968 nickel?

Full Steps (FS) is a special designation awarded by grading services PCGS and NGC to Jefferson nickels that show at least five complete, unbroken horizontal step lines at the base of Monticello on the reverse. PCGS awards a single FS designation, while NGC distinguishes between 5FS (five steps) and 6FS (six steps).

For 1968 nickels, the obstacle to FS is not weak die pressure but bag marks — contact damage acquired during storage in mint bags. Most coins that have sharp enough strikes to earn FS are disqualified by these marks. A coin that looks MS-65 in normal respects can jump to $2,000+ with a confirmed FS designation.

5. Is the 1968-D or 1968-S nickel rarer with Full Steps?

The 1968-D is by far the rarer Full Steps coin. PCGS has certified only a single 1968-D FS example in the history of the service — a lone MS-64 FS. The 1968-S FS, while still very rare, has three PCGS-certified examples at the MS-66 level, and GreatCollections has sold 18 total examples over 16 years ranging from $46 to $8,800.88.

The 1968-D FS is considered a “strike rarity of the highest order” and may be the single hardest modern Jefferson nickel to find with the Full Steps designation.

6. Are there valuable doubled die errors on 1968 nickels?

Yes — the 1968-S proof nickel is particularly known for Doubled Die Obverse (DDO) varieties. A DDO forms when the hub stamps the working die more than once with slight misalignment, creating a visible shadow or doubling on design elements like “LIBERTY,” “IN GOD WE TRUST,” and the date.

Strong DDO proof varieties can sell for $200 to $1,200, with the most dramatic examples like WDDO-001 commanding the highest premiums. Business strike DDOs from Denver (1968-D DDR) affecting the reverse typically sell for $75 to $400 depending on the strength of the doubling.

7. What was the Felix Schlag design competition and when were his initials added?

Felix Schlag won the Jefferson nickel design competition in 1938 from a field of 390 entries. His winning design earned him a $1,000 prize from the U.S. Treasury and depicted Jefferson’s portrait on the obverse and Monticello on the reverse.

Notably, Schlag did not receive credit on the coin itself at first. It was not until 1966 — 28 years after his design entered circulation — that the initials “FS” were added to the obverse near the base of Jefferson’s portrait, finally acknowledging the designer. These initials remain on the coin today, including all 1968 examples.

8. Why are 1968 nickels not silver?

The 1968 nickel contains no silver. It is composed of 75% copper and 25% nickel — the same alloy used for Jefferson nickels from 1946 onward. The only Jefferson nickels that contain silver are the “wartime” issues of 1942–1945, which were made with a 35% silver alloy due to wartime nickel shortages and carry a large mintmark above Monticello to identify them.

If someone offers to sell you a “silver 1968 nickel,” that is not an authentic coin. The 1968 nickel has no silver melt value.

9. What proof coin packaging was used for the 1968-S proof nickel?

The 1968-S proof nickel was packaged in a new hard plastic case — a significant upgrade from the cellophane packaging that had been used through 1964. This packaging change coincided with the move of proof production to San Francisco and gave collectors a far superior protective holder.

The new hard plastic cases helped preserve the mirror-like surfaces and cameo contrast that make proof coins valuable, contributing to the relatively high survival rate of Deep Cameo examples (approximately 42.5% of original mintage).

10. What is the 1968-S RPM variety and how much is it worth?

The 1968-S RPM FS-501 (also cataloged as FS-038) is a Repunched Mintmark proof variety where the “S” mintmark was stamped into the die more than once, leaving a visible secondary “S” to the East of the primary mintmark. This error is exceptionally rare on proof coins because proof dies undergo stricter quality control than business strike dies.

As of PCGS records, only two examples had been certified. A PR67 specimen sold for $1,705 at GreatCollections in April 2014 — making it one of the most valuable 1968 nickel varieties in any form. PCGS also tracks Cameo and Deep Cameo versions of this variety separately under its own catalog numbers.