1978 Nickel Coin Value: Errors List, “D”, “S” & No Mint Mark Worth

1978 Nickel value ranges from $0.05 face value to $16,000. That record was set by a Grade 67 example sold on eBay in March 2021. Upload a photo of yours below to get a quick value range. Then scroll down to see what recent eBay sales can tell you about what collectors are paying today.

 

1978 Nickel Value By Variety

Your 1978 nickel’s worth depends on the mint mark, how it was made, and its condition. If you already know the grade, jump to the Value Guides section for exact pricing.

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

 

Top 10 Most Valuable 1978 Nickel Value Worth Money

The top spot belongs to a Philadelphia MS67 Full Steps example slabbed by PCGS. It sold on eBay on March 10, 2021, for $16,000 — that’s a 320,000% markup over face value for a coin most people wouldn’t look at twice in pocket change.

Philadelphia coins dominate the upper ranks. Most MS67 Philly strikes outperform their Denver counterparts, likely because Philadelphia’s dies tended to produce slightly sharper impressions on average.

Denver’s best showing? $1,997.50 for an MS67 Full Steps piece at Heritage Auctions on June 8, 2016. Strong money, but nowhere near Philly’s peak. The drop from MS67 to MS66 often exceeds 50% in value. That one grade point is a huge gap.

San Francisco proof strikes in PR68–PR70 Deep Cameo sit at the lower end of the valuable pieces. Controlled production and careful handling mean far more survivors. The all-time record for a 1978-S proof nickel is $748, achieved by a PR70 Deep Cameo example at Heritage Auctions on January 9, 2006.

 

History of The 1978 Nickel Value Series

By 1978, the Jefferson nickel had been in production for 40 years. Felix Schlag, a German immigrant who’d only been in the U.S. nine years, won the original 1938 design competition out of 390 entries. He took home a $1,000 prize. Art scholar Cornelius Vermeule later pointed out that Schlag’s portrait closely resembled Jean-Antoine Houdon’s celebrated 1789 marble bust of Jefferson.

Here’s a detail that surprises most collectors: Schlag’s original reverse got rejected by Treasury officials. He had to redesign the entire back of the coin before production started in October 1938. On top of that, he left his initials off the design entirely — the “FS” monogram didn’t appear below Jefferson’s portrait until 1966.

The coin’s composition was back to its standard 75% copper and 25% nickel alloy by 1978, long past the wartime silver-nickel blend used from 1942 to 1945. Worth noting: no proof nickels were struck from 1965 through 1967 because a national coin shortage shut down proof coinage across all denominations.

Three facilities struck 1978 nickels. Philadelphia produced coins without a mint mark, Denver used the “D,” and San Francisco struck proofs marked “S.” High inflation that year drove coin hoarding, and the Mint responded by cranking out over 391 million nickels at Philadelphia alone. That massive output is exactly why circulated examples are everywhere today — but coins with sharp Full Steps details remain genuinely scarce.

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

 

Is Your 1978 Nickel Value High Enough to Keep?

Not sure if your 1978 nickel is rare enough to sell or keep? Try our Coin Identifier and Value App to get professional-grade rarity identification and valuation.

 

Key Features of The 1978 Nickel Value Coin

The 1978 Jefferson nickel uses the same Felix Schlag design that’s been on five-cent pieces since 1938. Here’s what to look for on each side.

The Obverse Of The 1978 Nickel

Jefferson faces left, with his tied-back hair and period collar clearly rendered. “LIBERTY” arcs along the right rim, “IN GOD WE TRUST” sits to the left of his profile, and “1978” appears to the right.

Mint marks show up on the obverse, right of Jefferson’s portrait near the rim. Philadelphia coins have no mint mark. Denver pieces carry a small “D.” San Francisco proofs show an “S.”

Look carefully just below the bust truncation: you’ll spot the small “FS” initials Schlag added in 1966. These appear on all Jefferson nickels from that year onward. Beginners often mistake them for a mint mark — they’re not.

The Reverse Of The 1978 Nickel

Flip it over and you’ll see Monticello, Jefferson’s Virginia home, front and center. The portico shows six columns and a triangular pediment. “MONTICELLO” appears directly below the building, “E PLURIBUS UNUM” curves along the upper rim, and “FIVE CENTS” sits at the bottom with “UNITED STATES OF AMERICA” completing the inscription.

Now look at the stairway leading to Monticello’s entrance. This is where the money is. Coins showing complete, unbroken horizontal lines across all five or six steps earn the “Full Steps” (FS) designation — every step line must be clearly separated with no filling or weak spots.

Getting Full Steps is tough. Everything had to go right: perfect die alignment, ideal striking pressure, and a flawless planchet. That’s why FS coins are worth so much more than standard strikes.

Other Features Of The 1978 Nickel

The 1978 nickel measures 21.20 millimeters across with a plain, smooth edge — no reeding like you’d see on dimes and quarters. It weighs 5 grams and is struck in 75% copper and 25% nickel, the standard cupronickel alloy that gives it that familiar silvery look. This composition has been standard since the wartime silver alloy was retired after 1945.

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

 

1978 Nickel Value: Mintage & Survival Data

Philadelphia led with 391.3 million pieces. Denver added 313.1 million. That’s over 704 million circulation nickels — enough to give roughly three coins to every person in the country at the time.

San Francisco struck just 3.1 million proofs in Deep Cameo finish, sold directly to collectors in protective packaging. About 90% survived — roughly 2.8 million pieces still exist today. Compare that to the circulation strikes, where nobody tracked how many got lost, worn out, or tossed into jars and forgotten.

The Greysheet Catalog (CDN Publishing) tracks four distinct price entries for 1978 nickels, with CPG values ranging from $0.20 at the low end to $3,000 at the top. That spread tells you everything about how much grade and designation matter for this date.

Also Read: Jefferson Nickel Value (1938-Present)

 

The Easy Way to Know Your 1978 Nickel Value

Determining your 1978 nickel’s value starts with three quick checks: locate the mint mark (no mark, D, or S), examine Monticello’s steps for complete unbroken lines, and assess overall condition. Circulated coins typically remain at face value, while uncirculated examples range from $1–$5. However, coins with Full Steps (FS) designation can jump to $100–$16,000 depending on grade.

Skip the guesswork and download our Coin Identifier and Value App for instant professional assessment — simply snap a photo to receive accurate grading, current market prices, and identification of premium features that could make your nickel worth thousands.

 

1978 Nickel Value Guides by Variety

Three varieties exist for 1978: Philadelphia (no mint mark), Denver (D), and San Francisco proof (S DCAM). Values range from face value on worn pieces to thousands for top-grade Full Steps coins.

1978 Nickel Types:

• 1978 No Mint Mark Nickel (Philadelphia)
• 1978-D Nickel (Denver)
• 1978-S DCAM  Nickel (San Francisco)

 

1978 Nickel Value — No Mint Mark (Philadelphia)

A $16,000 nickel. That’s what a single 1978 Philadelphia Full Steps MS67 brought on eBay in March 2021 — the all-time record for the date. Most people would walk right past this coin in a roll without a second glance.

With 391.3 million struck, circulated examples are worth face value. Period. Even uncirculated pieces without Full Steps only bring $6 to $8 in MS63–64 grades.

Full Steps changes everything. An MS66 FS jumps to $750. MS67 FS hits $11,500 guide price. Even standard MS67 examples without Full Steps pull meaningful auction money. The step detail — not the basic grade — is what separates a $5 coin from a $16,000 coin for this issue.

If you’re cherrypicking rolls or bags, this is the variety to hunt. Philly strikes from 1978 tend to be sharper than Denver, giving you better odds at finding that FS coin.

The Philadelphia mint’s track record at major auctions demonstrates the strong collector demand for premium examples.

Current market activity reveals how actively these coins are traded among collectors and dealers.

Market activity score: 53/100 as of Oct 2026 — up 3 points from Jul 2026. Currently at its 12-month peak.

 

1978-D Nickel Value — Denver Mint Guide

Think Denver nickels aren’t worth your time? A single 1978-D MS67 Full Steps sold for $1,997.50 at Heritage Auctions on June 8, 2016. That’s serious money for a coin from a mint known for mushy strikes.

The “D” mint mark sits on the obverse, right of Jefferson’s portrait near the date. Denver produced 313.1 million pieces, and the typical strike shows it — softer details on Monticello’s columns and Jefferson’s hair compared to Philadelphia. The mint was pushing volume over precision during the late 1970s.

That soft strike quality is exactly what makes Denver Full Steps coins so valuable. They’re outliers. Finding one is like pulling a needle from a haystack. A standard 1978-D MS67 without Full Steps brought $325 at GreatCollections in March 2013 — decent, but a fraction of the FS premium.

Variety collectors should also know about die break variety JNC-78D-1, which shows an obverse die break. NGC-graded AU58 examples have appeared at Heritage Auctions. It’s a niche target, but I think it’s an underappreciated pickup for Jefferson specialists.

Auction results for Denver mint nickels illustrate the price ceiling collectors are willing to pay for exceptional specimens.

Understanding market dynamics helps gauge the liquidity and demand for 1978-D nickels.

Market activity score: 47/100 as of Oct 2026 — down 3 points from Jul 2026. 12-month peak: 53 (Aug 2026).

 

1978-S Nickel Value — DCAM Proof (San Francisco)

Only 3.1 million made — and about 2.8 million still exist. That 90% survival rate tells you these were babied from day one, sold directly to collectors in protective packaging.

DCAM stands for Deep Cameo, the highest contrast designation for proofs. You get frosted design elements popping against deeply mirrored fields. It’s like the difference between a flat photo and one with vivid 3D depth. Freshly polished dies striking specially prepared planchets multiple times create that look.

Most 1978-S proofs grade as DCAM thanks to improved manufacturing by the late ’70s. A standard PR68 DCAM trades for about $69. Not exactly retirement money. The real prize is PR70 DCAM — absolute perfection with zero flaws under magnification. That grade reached $748 at Heritage Auctions on January 9, 2006.

We think these are solid coins for type collectors on a budget, but don’t expect big returns unless you land a PR70.

Proof nickels have their own distinct auction history reflecting collector preferences for pristine examples.

Market activity metrics reveal how San Francisco proofs perform in today’s numismatic marketplace.

Market activity score: 53/100 as of Oct 2026 — up 3 points from Jul 2026. Currently at its 12-month peak.

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

 

Rare 1978 Nickel Value Errors That Multiply Worth

With over 704 million nickels struck in 1978, mistakes were bound to happen. Some of those mistakes are now worth real money. Here’s what to look for.

1. Off-Center Strike Errors

When a blank feeds crooked between the dies, you get a coin with part of the design missing and a crescent of bare metal showing. The feeding mechanism hiccupped, and the planchet wasn’t centered.

The golden rule: the date must be visible. A 50% off-center strike with a clear “1978” is the sweet spot for collectors, since they need that date for attribution. Minor 10–20% shifts add $25–$75. Go past 50% off-center with the date showing, and you’re looking at $200–$400 or more.

2. Struck Through Grease Errors

Grease, oil, or debris builds up on the die face and blocks the design from transferring fully. You’ll see weak, filled-in, or missing details where the gunk sat. This happened more often as dies wore down during long production runs.

Filled steps on Monticello or weak lettering are the most common signs. Minor grease fills add $5–$15. If a big chunk of the design disappears — especially Jefferson’s portrait or Monticello’s steps — you could be looking at $25–$75. Extreme cases where entire design elements vanish can hit $100–$150 with error specialists.

3. Broadstrike Errors

The collar die is the metal ring that keeps the planchet contained during striking. When it fails, the metal spreads outward. The coin comes out wider than normal with a thin, wavy edge instead of a proper rim.

These are easy to spot. The coin just looks too big. Minor broadstrikes with 5–10% extra diameter sell for $15–$40. Severe examples exceeding 15–20% expansion bring $50–$125. You’ll still see full obverse and reverse designs — just without the clean, contained edge.

4. Wrong Planchet (Off-Metal) Error

This is the big one. A copper cent blank accidentally feeds into the nickel press, and you get Jefferson’s portrait on a small, coppery-colored disc. The coin weighs about 3.1 grams instead of the standard 5 grams, and portions near the rim like “IN GOD WE TRUST” may be partially missing.

A 1978-D example graded NGC MS-65 Red Brown sold at Heritage Auctions’ New England Collection of Error Coins sale in August 2010 for $431.25. Current market prices for common-date 1978 nickels on cent planchets run $350 to $500, with high-grade examples reaching the $1,000–$1,700 range. Identification is simple: weigh it and check the color. If it’s copper-toned and light, you might have a winner.

5. Die Break / Cud Errors

When a chunk of the hardened die fractures and falls away, the struck coin shows a raised blob where the broken piece used to be. If that break hits the rim area, it’s called a “cud” — a distinctive raised lump merging with the edge.

The 1978-D has a documented variety here: JNC-78D-1, an obverse die break. NGC-graded AU58 examples have appeared at Heritage Auctions. General die breaks on 1978 nickels add $20–$100 depending on size and location. A dramatic full-rim cud can reach several hundred dollars. These are fun cherrypicking targets if you’re sorting through raw coins.

 

Where to Sell Your 1978 Nickel Value Coin

Ready to turn your 1978 nickel into cash but unsure which platform offers the best returns? We’ve compiled a comprehensive guide comparing fees, audience reach, and seller protection across major marketplaces.

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

 

1978 Nickel Value Market Trend

Market interest: 6,450 collectors tracking this coin as of Oct 2026 — up 1,000 from Mar 2026. Currently at its 12-month peak.

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

 

FAQ about 1978 Nickel Value

1. How much is a 1978 nickel worth?

Most are worth 5 cents. Over 704 million were made, so circulated examples are everywhere. Uncirculated pieces in average condition run $1 to $5.

Full Steps designation is where values jump. A 1978 MS67 Full Steps hit $16,000 (eBay, March 2021). MS65–66 Full Steps examples bring $79–$1,323. San Francisco proofs range from $2–$10 in standard grades, topping out at $748 in PR70 Deep Cameo.

2. What does “Full Steps” mean on a 1978 nickel?

Full Steps (FS) means every horizontal line across Monticello’s five or six entrance steps is complete and unbroken — no weakness, no bag marks filling the gaps, no mushy areas.

Less than 1% of all 1978 nickels qualify. You need perfect die alignment, ideal striking pressure, and a clean planchet all at once. That rarity is why FS coins command 10–50 times more than non-FS examples at the same grade.

3. Should I clean my 1978 nickel to increase its value?

Never. Not with soap, not with silver polish, not with anything. Cleaning leaves microscopic scratches that graders spot instantly. Your coin gets a “cleaned” or “damaged” label, and the collectible value is gone for good. Surface dirt doesn’t hurt value. Cleaning damage does.

4. What is the difference between the 1978-P and 1978-D nickel in terms of strike quality?

Philadelphia strikes tend to be sharper on average. That’s why Philly’s top auction record is $16,000 for an FS example while Denver’s best is $1,997.50. Denver was pushing volume during the late ’70s, and strike quality suffered.

A premium Denver FS in MS67 is still worth nearly $2,000 — just know that finding a sharp Full Steps coin is statistically harder from Denver.

5. What is a 1978 nickel struck on a cent planchet, and what is it worth?

It’s a wrong planchet error where nickel dies struck a Lincoln cent blank by mistake. The coin weighs about 3.1 grams instead of 5 grams and has a coppery color with a compressed design.

A 1978-D example graded NGC MS-65 Red Brown sold at Heritage Auctions in August 2010 for $431.25. Typical examples trade between $350 and $500, with premium pieces reaching $1,000–$1,700.

6. Does the 1978 nickel contain any silver?

No silver at all. It’s 75% copper and 25% nickel — standard cupronickel. The only Jefferson nickels with silver are the Wartime Nickels from late 1942 through 1945, which used 35% silver. You can identify those by the large mint mark above Monticello on the reverse.

7. Why did Felix Schlag have to redesign the Jefferson nickel reverse?

Treasury officials rejected his original reverse after he won the 1938 competition. He submitted a completely new design showing Monticello’s neoclassical façade, and that’s what’s been on the coin ever since (except the 2004–2005 Westward Journey reverses). His “FS” initials weren’t added until 1966 — nearly 28 years after the coin debuted.

8. How do I identify the mint mark on a 1978 nickel?

Check the obverse, right of Jefferson’s portrait near the date. “D” means Denver. “S” means San Francisco proof. No letter means Philadelphia.

Don’t confuse the “FS” initials below Jefferson’s bust with a mint mark. Those stand for Felix Schlag and have been on every Jefferson nickel since 1966.

9. What is the 1978-D die break variety (JNC-78D-1), and is it valuable?

It’s a documented obverse die break where part of the die fractured, leaving a raised blob on the coin’s surface. AU58 examples have appeared at Heritage Auctions.

These are specialist items. Value depends on the size and drama of the break, generally adding $20–$100 over the standard coin’s value. Jefferson variety collectors are the primary buyers.

10. Is a 1978 nickel in a proof set worth more than a loose example?

Slightly. The original packaging confirms untampered storage, so intact 1978 proof sets carry a small premium — though the complete set usually sells for just a few dollars.

For top-grade coins, the slabbed grade matters far more than provenance. A PR70 DCAM is worth $748 regardless, while even a pristine set-quality coin grading PR69 DCAM typically brings only $15–$30.