1978 Nickel Value (Errors List, “D”, “S” & No Mint Mark Worth)

Most collectors overlook 1978 nickels due to their abundance demonstrates variation based on preservation quality. Standard MS pieces command $4.80-$5.20, while Full Steps varieties achieve $13.40-$14.00, nearly triple the premium for superior strike quality.

In 1978, the United States Mint produced over 704 million Jefferson nickels across three facilities, making this year one of the highest-production periods in the series’ history. The economic climate of high inflation and increased metal prices paradoxically drove both widespread circulation and collector hoarding, creating today’s unique market dynamics.

Understanding 1978 nickel value requires examining mint marks, grading standards, and the elusive Full Steps feature that separates common coins from serious collectibles.

 

1978 Nickel Value By Variety

The value of 1978 nickels varies based on their mint mark location, production method, and condition grade. 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 1978 Nickel Worth Money

The 1978 nickel market demonstrates a clear correlation between grade quality and market value, with condition being the paramount factor in determining worth.

The chart reveals that coins graded MS67 command exceptional premiums, with the top specimen reaching $16,000—a remarkable 320,000% increase over face value. This dramatic valuation reflects the extreme rarity of 1978 nickels in pristine condition, as most circulated extensively during the late 1970s economic climate.

The disparity between Philadelphia (no mint mark) and Denver (D) mint productions is evident, with most Philadelphia MS67 specimens consistently outperforming their Denver counterparts. The sharp value drop from MS67 to MS66 grades, often exceeding 50%, underscores the premium collectors place on technical perfection.

Meanwhile, San Francisco proof strikes (PR68-PR70) occupy the lower tier of valuable pieces, as their controlled production environment resulted in higher survival rates of quality specimens.

 

History of The 1978 Nickel

The 1978 nickel continues the Jefferson nickel series, first introduced in 1938 following a public design competition. Designer Felix Schlag won with his iconic depiction of Thomas Jefferson on the obverse and Monticello, Jefferson’s Virginia estate, on the reverse.

The coin’s composition had evolved over decades. By 1978, the nickel had returned to its standard alloy of 75% copper and 25% nickel, departing from the wartime silver-nickel blend used between 1942 and 1945.

Production in 1978 took place at three U.S. Mint facilities. The Philadelphia Mint produced coins without a mint mark, while Denver used the “D” designation and San Francisco struck proof coins marked with “S.” These mint marks appeared on the obverse, positioned near Jefferson’s shoulder.

The economic context of 1978 proved significant for coinage. High inflation rates during this period led to increased coin hoarding among Americans, while commercial circulation demands remained strong. The U.S. Mint responded by producing over 391 million nickels that year.

This massive production explains today’s market dynamics. While millions of 1978 nickels survive in circulation, specimens with sharp strikes and Full Steps details remain exceptionally rare and highly valued by collectors.

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

 

Is Your 1978 Nickel Rare?

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

 

Key Features of The 1978 Nickel

The 1978 Jefferson nickel maintains the design standards established in 1938, featuring Felix Schlag’s iconic portraits that have defined American five-cent pieces for decades.

The Obverse Of The 1978 Nickel

The obverse showcases Thomas Jefferson’s left-facing profile, rendered with refined detail by designer Felix Schlag. Jefferson’s portrait dominates the coin’s face, displaying distinctive features including his tied-back hair and period-appropriate collar.

The word “LIBERTY” arcs along the right rim, while the motto “IN GOD WE TRUST” appears to the left of Jefferson’s profile. The date “1978” is positioned right of the portrait.

Mint marks, when present, appear on the obverse to the right of Jefferson’s portrait, near the rim. Philadelphia coins bear no mint mark, Denver issues display a small “D,” and San Francisco proofs feature an “S.”

The Reverse Of The 1978 Nickel

Monticello, Jefferson’s Virginia estate, dominates the reverse design with its iconic neoclassical façade. The building’s front portico features six columns and a distinctive triangular pediment, representing one of America’s most recognizable architectural landmarks.

The word “MONTICELLO” appears directly below the building, while “E PLURIBUS UNUM” (Out of Many, One) curves along the upper rim. The denomination “FIVE CENTS” is positioned at the bottom, with “UNITED STATES OF AMERICA” completing the circular inscription.

The most critical feature is the stairway detail leading to Monticello’s entrance. Coins displaying complete, unbroken horizontal lines across all five or six steps earn the coveted “Full Steps” (FS) designation. This feature requires exceptional strike quality and pristine die condition, making FS specimens exponentially more valuable than standard strikes.

Other Features Of The 1978 Nickel

The 1978 nickel measures 21.20 millimeters in diameter with a plain, smooth edge—unlike the reeded edges found on dimes and quarters. This smooth rim design has remained consistent throughout the Jefferson nickel series.

The coin’s composition consists of 75% copper and 25% nickel, creating the cupronickel alloy that gives the coin its distinctive silvery appearance and 5-gram weight. This standard composition resumed after World War II’s temporary silver-nickel alloy period.

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

 

1978 Nickel Mintage & Survival Data

The 1978 nickel production demonstrates the typical distribution pattern of U.S. coinage, with Philadelphia leading at 391.3 million pieces, followed by Denver’s 313.1 million strikes. Combined, these two facilities produced over 704 million circulation nickels to meet the nation’s commercial demands during a period of high inflation.

The San Francisco Mint operated exclusively for collector purposes, striking just 3.1 million proof coins in Deep Cameo (DCAM) finish. Unlike their circulation counterparts, these proof specimens were sold directly to collectors in protective packaging, resulting in an exceptional 90% survival rate with 2.8 million examples remaining today.

The stark contrast in available survival data reveals an important reality about coin preservation. While proof coins maintain tracked populations due to their collectible nature, circulation strikes from Philadelphia and Denver lack precise survival estimates because billions entered everyday commerce and were subject to wear, loss, and destruction.

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 lines, and assess overall condition. Circulated coins typically remain at face value, while uncirculated examples range from $1-$5. However, coins with Full Steps designation can jump to $100-$16,000 depending on grade.

Skip the guesswork and download our CoinValueChecker 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

The 1978 nickel comes in three varieties distinguished by their production facility and intended purpose. Business strikes from Philadelphia (no mint mark) and Denver (D) served everyday commerce with combined mintages exceeding 704 million pieces, while San Francisco (S) exclusively produced 3.1 million proof specimens in Deep Cameo finish for collector sales.

Value disparities among these types are substantial, ranging from face value for worn circulation strikes to thousands of dollars for premium Full Steps examples and flawless proofs. Each variety presents distinct opportunities and challenges for collectors seeking quality examples.

1978 Nickel Types:

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

 

1978 No Mint Mark Nickel Value

The 1978 no mint mark nickel, produced at the Philadelphia Mint, represents the highest-mintage issue of that year with 391.3 million pieces struck. The absence of a mint mark on the obverse indicates Philadelphia origin, following the standard practice established in 1968.

Most circulated examples remain at face value due to abundant supply and widespread availability. Uncirculated specimens without Full Steps designation typically range from $6 to $8 in MS63-64 grades, reflecting their common status in the collector market.

The value equation changes dramatically for Full Steps examples. Philadelphia strikes with complete step definition command significant premiums, with MS66 specimens reaching $750 and MS67 examples jumping to $11,500 according to the guide price. The pinnacle achievement—MS67 Full Steps, represents the most valuable 1978 nickel at $16,000, demonstrating the extraordinary rarity of pristine Philadelphia strikes with perfect step clarity.

One 1978 no mint mark nickel Standard example without Full Steps brings approximately $1,826 at auction price, still substantial but far below their Full Steps counterparts. This disparity underscores how step quality, rather than basic grade alone, determines true value for Philadelphia 1978 nickels.

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 among collectors and dealers.

 

1978-D Nickel Value

The 1978-D nickel carries the Denver Mint’s distinctive “D” mark, representing 313.1 million pieces struck during a period of intense production demands.

Denver strikes characteristically exhibit weaker details than Philadelphia counterparts, particularly visible on Monticello’s columns and Jefferson’s hair strands. This softer strike quality reflects the mint’s prioritization of quantity over precision during the late 1970s economic pressures.

From a collector’s standpoint, 1978-D nickels occupy the middle tier, common enough to acquire easily but challenging to find in premium grades. Investment potential centers on Full Steps specimens, which represent exceptional strike outliers from Denver’s typically soft production.

The $1,998 auction record for MS67 FS examples demonstrates strong demand for quality, while standard MS67 examples without Full Steps sold at $325 at auction.

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.

 

1978-S DCAM Nickel Value

San Francisco’s exclusive proof production in 1978 created a fundamentally different product than circulation strikes, with the DCAM (Deep Cameo) designation representing the pinnacle of the Mint’s artistic achievement.

The Deep Cameo designation identifies proofs exhibiting maximum contrast between frosted design elements and deeply mirrored fields. This dramatic visual effect results from freshly polished dies striking specially prepared planchets multiple times, creating the sharp definition and reflective surfaces that distinguish proof coinage from regular production.

Unlike the 704 million business strikes released for commerce, only 3.1 million proof nickels were minted specifically for collectors through mail-order purchase.

Modern grading services classify most 1978-S proofs as DCAM due to improved manufacturing techniques by the late 1970s. Standard PR68 DCAM examples trade for approximately $69, reflecting abundant availability within the collector market. The 90% survival rate—2.8 million coins preserved in original packaging, ensures a steady supply at moderate grades.

Premium value concentrates at the top of the grading scale. The elusive PR70 DCAM grade, representing absolute perfection with zero detectable flaws even under magnification, reached $748 at Heritage Auctions in January 2009. These premium grades require flawless surfaces, centered strikes, and pristine cameo contrast that survived decades without handling marks or environmental damage.

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.

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

 

Rare 1978 Nickel Error List

While most 1978 nickels were struck with precision, mint errors occasionally occurred during the high-volume production process, creating varieties that command significant premiums.

1. Off-Center Strike Errors

An off-center strike occurs when the planchet (blank coin) is improperly positioned between the dies during striking, resulting in a partially blank coin with the design shifted to one side. These errors result from feeding mechanism malfunctions or loose collar dies that failed to properly center the planchet.

The key factor determining value is whether the date remains visible. Coins struck 50% off-center with a clear “1978” date are particularly desirable, as collectors need date verification for authentication purposes.

The error’s value increases with the percentage of misalignment—strikes showing 10-20% off-center typically bring modest premiums, while those displaying 50% or more displacement command hundreds of dollars.

2. Struck Through Grease Errors

Struck through grease errors occur when oil, grease, or debris accumulates on the die surface, preventing full design transfer to the planchet. The resulting coin shows weakened, filled-in, or missing details where the foreign material blocked the metal flow during striking.

Common manifestations include filled steps on Monticello, weak lettering, or partially obscured design elements. The error’s appearance ranges from minor detail softness to complete obliteration of features, creating ghost-like impressions. These errors became more frequent as dies aged and accumulated residue from continuous striking.

Value depends on the error’s extent and visual impact. Minor grease-filled areas add $5-$15 to face value, while dramatic examples with significantly obscured designs, particularly affecting Jefferson’s portrait or Monticello can bring $25-$75. Extreme cases where entire design elements vanish beneath grease films may reach $100-$150 among error specialists.

3. Broadstrike Errors

A broadstrike occurs when the collar die—the metal ring that constrains the planchet during striking then fails to engage properly, allowing the metal to spread beyond normal dimensions. The resulting coin appears larger in diameter than standard specifications, with a characteristic thin, wavy edge replacing the normal rim.

These errors happen when collar mechanisms malfunction or when planchets are misaligned during feeding. The coin receives full obverse and reverse impressions but lacks the contained dimensions and defined edge of properly struck pieces.

Collectors value broadstrikes for their dramatic, immediately recognizable appearance. Minor broadstrikes showing 5-10% diameter expansion typically sell for $15-$40, while severe examples exceeding 15-20% expansion command $50-$125.

 

Where to Sell Your 1978 Nickel?

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 Market Trend

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

 

FAQ about The 1978 Nickel

1. How much is a 1978 nickel worth?

Most circulated 1978 nickels are worth only their face value of 5 cents due to the high mintage of over 704 million coins. Uncirculated examples in average condition typically range from $1 to $5.

However, value increases dramatically for coins with Full Steps designation. A 1978 nickel graded MS67 with Full Steps can command up to $16,000, while even MS65-66 Full Steps examples bring $79-$1,323. Proof coins from San Francisco range from $2-$10 in standard grades, reaching $748 in PR70 Deep Cameo condition.

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

Full Steps (FS) refers to complete, unbroken horizontal lines visible across all five or six steps leading to Monticello’s entrance on the reverse. This designation requires exceptional strike quality with no weakness, bag marks, or contact marks obscuring the step details.

Full Steps examples represent less than 1% of all 1978 nickels because achieving this level of detail demands perfect die alignment, optimal striking pressure, and pristine planchet surfaces. The rarity of this feature explains why FS coins command premiums 10-50 times higher than non-FS examples at the same grade level.

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

Never clean your 1978 nickel under any circumstances. Cleaning removes the coin’s original surface patina and creates microscopic scratches that professional graders immediately recognize, resulting in “cleaned” or “damaged” designations that destroy collectible value.

Even gentle cleaning with soap, silver polish, or jewelry cleaners causes irreversible damage. Professional collectors and dealers prefer naturally toned, untouched surfaces over artificially brightened coins. If your nickel appears dirty, simply store it properly—surface dirt doesn’t affect value like cleaning damage does.