1986 Nickel Value (Errors List, “P”, “D”&”S”Worth)

If you’ve come across a 1986 nickel in your pocket change or coin jar, you’re probably curious about the 1986 nickel value and whether it’s worth holding onto.

The good news is that while most circulated examples are worth their face value of five cents, better-preserved coins can be worth considerably more—typically ranging from around 65 cents for lightly circulated pieces to several dollars for uncirculated specimens.

Both the Philadelphia and Denver mints produced hundreds of millions of these Jefferson nickels in 1986, making them quite common to find. However, what makes certain examples valuable isn’t their age or rarity alone, but rather their condition and special characteristics. Coins with sharply defined details, especially those showing all the steps leading up to Monticello on the reverse (known as “Full Steps” designation), can command impressive premiums among collectors.

Whether you’re a curious coin collector or simply wondering if that old nickel is worth more than a trip to the vending machine, understanding what affects your coin’s value is the first step to determining what you’ve got.

 

1986 Nickel Value By Variety

This chart displays the estimated market values for 1986 U.S. nickels across different mint marks (P, D, S) and conditions, ranging from circulated grades to mint state and 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 1986 Nickel Worth Money

The chart demonstrates extreme value concentration at premium grade levels. The 1986-P MS67 Full Steps specimen achieved $4,000 at auction in March 2019, representing the apex of the series. This valuation reflects population scarcity at the MS67 grade threshold combined with Full Steps designation.

The 1986-D Jefferson nickel was produced in very large quantities, making it common for the series, with scarcity only emerging in MS66 condition or higher. The progression from 1986-P MS66 at $705 to MS67 at $1,600 reflects population constraints, as fewer specimens survive in higher grades from high-volume production runs.

The 75%-25% copper-nickel composition does not lend itself well to quality strikes, and Full Steps details are particularly rare due to striking issues and prolonged die use. This metallurgical constraint directly impacts strike quality, making Full Steps examples scarce.

The rarity of Full Steps designated Jefferson nickels varies according to year and issuing mint, with value determined by relative scarcity. The substantial premium differential between standard strikes and Full Steps variants reflects both technical production limitations and specialized collector demand for registry set completion.

 

History of the 1986 Nickel

The Jefferson nickel debuted in 1938, replacing the Buffalo nickel in the 25th year of its production run, following a design contest won by German émigré and American artist Felix Oscar Schlag, who received $1,000 for his design.

Schlag’s design was selected from 390 entries submitted to the Treasury Department’s anonymous competition, with the obverse featuring Jefferson’s left-facing profile and the reverse depicting Monticello, Jefferson’s Virginia estate.

The Federal Commission of Fine Arts initially rejected Schlag’s original design, requesting modifications to the stylized lettering and the angle of Monticello, ultimately accepting his revised design in July 1938 after he changed to more formal lettering and a proportional front view of the structure.

In 1966, twenty-eight years after the first nickel was produced, the designer’s initials “FS” were added to Jefferson’s coat near the rim of the obverse.By 1986, the Jefferson nickel had maintained design continuity for nearly five decades. The 1986-P nickel recorded a mintage of 361,819,140

coins from the Philadelphia facility, while the Denver Mint produced 361,819,140 pieces that year. Since 1970, all circulation nickels have been minted exclusively at Philadelphia and Denver, with mint marks positioned on the obverse below the date beginning in 1968, and Philadelphia adopting the “P” mint mark for all nickels starting in 1980.

The 1986 production represented a mature phase of Jefferson nickel manufacturing, with both facilities utilizing standardized dies and high-volume production methods. The composition remained consistent at 75% copper and 25% nickel, maintaining the specifications established for the series since 1946 following the wartime silver alloy period.

This production year preceded the design modifications that would occur in 2004-2005 for the Westward Journey commemorative series, making the 1986 nickel representative of Schlag’s original design concept that dominated American five-cent coinage for over six decades.

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

 

Is your 1986 Nickel rare?

Determining your 1986 nickel’s rarity status—from common circulation strikes to the exceptional Full Steps varieties—requires accurate grading and authentication, which the CoinValueChecker App delivers instantly by analyzing your coin’s condition through a simple photograph.

 

Key Features of the 1986 Nickel

The 1986 Nickel is part of the Jefferson nickel series designed by Felix Schlag. These coins feature the standard composition of 75% copper and 25% nickel, maintaining the traditional alloy that had been restored after the wartime silver composition ended in 1945.

The Obverse of the 1986 Nickel

The obverse features a left-facing profile portrait of Thomas Jefferson wearing a coat with a wide collar, his hair styled in a low ponytail.

“LIBERTY” curves along the left rim behind Jefferson’s portrait. “IN GOD WE TRUST” appears in front of the portrait on the left side. The date “1986” sits below the portrait.

The designer’s initials “FS” for Felix Schlag appear on Jefferson’s coat near the rim of the obverse in small letters, added in 1966. The mint mark is positioned on the obverse below the date, where it has been located since 1968—”P” for Philadelphia, “D” for Denver, or “S” for San Francisco. Philadelphia began using the “P” mint mark on all nickels starting in 1980.

Philadelphia Mint coins often exhibit varying surface textures, from grainy to smooth finishes.

The Reverse of the 1986 Nickel

The reverse displays Monticello, Jefferson’s Virginia plantation home, shown in frontal perspective with its neoclassical dome and columned portico.

“E PLURIBUS UNUM” appears above the building, while “MONTICELLO,” “FIVE CENTS,” and “UNITED STATES OF AMERICA” are inscribed below.

Coins displaying “Full Steps” (5FS or 6FS)—where all five or six steps leading to Monticello’s entrance remain sharply defined—are highly prized. The 1986-D is particularly challenging to find with Full Steps designation, as it was produced in very large quantities and only becomes scarce in MS66 condition or higher, with MS67 Full Steps examples being very rare.

Other Features of the 1986 Nickel

The 1986 Nickel measures 21.2 millimeters in diameter, weighs 5.00 grams, and has a thickness of 1.95mm. The edge is plain without reeding.

Philadelphia struck approximately 536.9 million pieces, while Denver produced about 361.8 million, making the 1986-P the more abundant variety with over 60% of total circulation production. Additionally, San Francisco produced 3,010,497 proof coins specifically for collectors.

The standard copper-nickel composition produces subtle toning compared to the wartime silver nickels, with natural luster being preferred by collectors, and Full Steps specimens commanding substantial premiums due to their scarcity.

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

 

1986 Nickel Mintage & Survival Data

The 1986 nickel production totaled over 700 million circulation strikes across two facilities. Philadelphia struck 361,819,140 pieces, while Denver produced 361,819,140 coins. San Francisco contributed 3,010,497 proof specimens exclusively for collectors, representing less than 0.4% of total production.

The survival distribution reveals a fundamental disparity between circulation strikes and collector issues. Both Philadelphia and Denver mintages show unknown survival rates, reflecting the inherent difficulty in tracking coins intended for commerce.

Circulation coins typically experience heavy attrition through circulation, damage, and loss, with rough estimates suggesting approximately 70% reduction in available supplies for high-mintage modern issues. Without systematic documentation or population census data, precise survival rates for business strikes remain indeterminate.

In contrast, the San Francisco proof issue demonstrates an 85.5% documented survival rate, with 2,573,974 specimens accounted for from the original mintage. This exceptional preservation rate stems from the nature of proof coinage. Proof coins are struck using specially polished planchets and dies, then separately and individually handled rather than being collected in bins like circulation strikes.

These coins are carefully packaged in protective holders and sold directly to collectors who deliberately preserve them, resulting in minimal attrition compared to circulation issues.

The survival data disparity creates distinct market dynamics. While hundreds of millions of circulation strikes were produced, the unknown survival rate and predominantly worn condition of surviving examples drive premium values for uncirculated specimens, particularly those achieving Full Steps designation.

The proof population, though representing a fraction of original mintage, maintains documented census figures through third-party grading services, enabling precise rarity assessment for high-grade examples.

This documented survival rate establishes proof nickels as reliably available collector pieces, while circulation strikes in superior preservation remain conditionally scarce despite massive original production.

Also Read: Jefferson Nickel Value (1938-Present)

 

The Easy Way to Know Your 1986 Nicke Value

Understanding your 1986 nickel’s value requires evaluating multiple interconnected factors. A coin’s grade is generally determined by six criteria: strike, preservation, luster, color, attractiveness, and occasionally the country or state in which it was minted. Each element significantly impacts market valuation.

Mint mark identification establishes which facility produced your coin. Philadelphia-minted nickels bear a “P” below the date, Denver coins display a “D”, while San Francisco proof issues show an “S”. This single letter can influence value, particularly when combined with condition rarity.

Condition assessment forms the foundation of valuation. The Sheldon Scale provides a 70-point system rating coin condition from 1 (Poor) to 70 (Mint State), where a coin graded as “1” may be barely identifiable while a “70” represents a flawless specimen with no visible imperfections under magnification. For 1986 nickels, circulated examples typically hold minimal premium, while uncirculated specimens command increasing values at higher grade levels.

Strike quality determines whether Monticello’s architectural details appear fully rendered. Full Steps designation requires five or six complete, uninterrupted steps visible at the base of Monticello, with specimens earning 5FS and 6FS designations commanding substantial premiums. Identifying this feature requires careful examination under proper lighting and magnification.

Surface preservation involves detecting contact marks, scratches, and signs of cleaning or damage. Even slight changes in texture or luster can influence the final grade, requiring magnification typically at 5x or 10x to detect fine details like micro-scratches, die-polishing marks, and mint errors. Distinguishing between natural toning and environmental damage requires expertise.

The complexity of accurate assessment presents practical challenges. Minute differences in contact marks can translate into huge price variations, particularly within Mint State grades where distinctions are determined by strike quality, luster severity, mark location, and general eye appeal. Without specialized training, collectors often struggle to differentiate between grades that carry significantly different market values.

The CoinValueChecker App streamlines this multi-factor evaluation process. Simply photograph your 1986 nickel, and the app’s recognition technology instantly analyzes mint mark, assesses condition indicators, evaluates strike characteristics including Full Steps potential, and provides current market valuations based on comparable sales data.

 

1986 Nicke Value Guides

• 1986-P Nickel (Philadelphia Mint)
• 1986-D Nickel (Denver Mint)
• 1986-S Proof Nickel (San Francisco Mint)

The 1986 nickel value guide encompasses three distinct varieties differentiated by minting facility and production method. Philadelphia and Denver produced circulation strikes totaling nearly 700 million coins for commerce, while San Francisco struck limited proof specimens exclusively for collectors.

Value determination depends on mint mark identification, condition grade, and strike quality characteristics. Circulated examples typically trade near face value, while uncirculated specimens command premiums based on preservation level.

Full Steps designation significantly enhances value across all varieties. Proof issues maintain consistent collector demand due to limited mintage and superior strike characteristics, with Deep Cameo specimens achieving the highest premiums in gem grades.

 

1986-P Nickel Value

The Philadelphia Mint produced 361,819,140 of these nickels in 1986, striking them in a standard composition of 75% copper and 25% nickel. This large mintage would typically indicate common availability, yet the 1986-P displays substantial value variation based on a specific production characteristic.

The key distinction lies in the reverse strike quality. Production at the mint typically resulted in weak strikes on Monticello’s staircase, leaving the step lines incomplete or poorly defined on most examples.

Coins displaying all five or six steps with complete, unbroken horizontal lines earn the “Full Steps” (FS) designation. This sharp strike quality proved difficult to achieve consistently during production, creating scarcity within an otherwise abundant issue.

Standard circulated pieces trade between face value and a few dollars, while Full Steps specimens command premiums from $7 to over $2,000, with approximately 60 examples selling at auction over the past 15 years.

The record price of $4,000 was achieved by an MS67 FS example. Grade creates dramatic price differences—MS65 FS coins typically sell below $100, whereas MS66+ FS examples reach several hundred dollars.

The collecting challenge centers on accurate identification. Distinguishing genuine Full Steps requires magnification, as partial strikes can mislead visual inspection. This difficulty in locating premium examples sustains ongoing collector demand for properly struck pieces.

The coin’s Auction Record Chart documents realized prices across different grades and striking qualities.

Market Activity data reflects current trading frequency and collector interest levels for this date.

 

1986-D Nickel Value

The Denver Mint struck 361,819,140 nickels in 1986, matching Philadelphia’s output exactly. This parallel production creates equal availability for both mintmarks in circulation.

Collectors seeking Full Steps examples from the Denver Mint face considerable difficulty with this date. While the 1986-D shares the same striking challenges as its Philadelphia counterpart, the issue appears relatively common among Full Steps specimens when compared to earlier or later dates in the series.

This relative availability affects market positioning—the coin attracts collectors pursuing affordable Full Steps examples rather than premium rarities.

Typical uncirculated examples trade in the $1.22 to $3.54 range, while Full Steps specimens show significant grade sensitivity, with MS67 FS examples carrying a wholesale bid of $2,500.

The market demonstrates clear stratification by grade—MS65 and MS66 FS coins trade at accessible price points, whereas the handful of MS67 FS examples represent genuine condition rarities.

Census data shows only two MS67 FS coins certified by one major grading service, with nine examples at that level from another, indicating genuine scarcity at the highest grade levels.

Investment appeal stems from grade rarity rather than absolute scarcity. Collectors building registry sets drive demand for coins at the MS66+ and MS67 levels, where population numbers remain limited despite the date’s overall availability.

The coin’s Auction Record Chart illustrates how grade increments translate to significant price differences at higher levels.

Market Activity reflects current demand levels and collector participation for this date in the secondary market.

 

1986-S Proof DCAM Nickel Value

San Francisco produced 3,010,497 proof nickels in 1986 exclusively for collectors, with no business strikes bearing the S mintmark.

The proof manufacturing process involves hand-polished planchets struck multiple times to create mirror-like fields and frosted design elements. This specialized production method distinguishes proofs from circulation strikes and creates their characteristic appearance.

The Deep Cameo (DCAM) designation measures the contrast between mirrored fields and frosted devices. This visual distinction represents the primary value determinant within the proof category.

While the San Francisco Mint achieved strong strikes in 1986, most examples reach PR69 Deep Cameo grade, with perfect PR70 Deep Cameo specimens proving considerably scarcer. The grade ceiling at PR69 reflects the challenge of maintaining flawless surfaces throughout the minting and handling process, even under controlled proof production conditions.

Standard proof examples trade around $8.55, while PR69 DCAM specimens command approximately $23. The substantial premium appears at the PR70 DCAM level—the auction record stands at $3,525, established in 2013.

This price gap demonstrates how absolute technical perfection drives value in modern proof coinage, where even microscopic imperfections prevent the highest grade assignment.

Collector focus centers on Deep Cameo examples, as this designation confirms optimal contrast quality. The relatively modest mintage compared to business strikes creates inherent scarcity, yet sufficient PR69 DCAM examples exist to maintain reasonable accessibility for most collectors.

The coin’s Auction Record Chart captures pricing evolution across different grade levels and cameo designations.

Market Activity provides insight into current collector demand within the modern proof nickel segment.

1986-S Treasure Hunt Feb LB 2016 Proof DCAM Nickel value

The “Treasure Hunt Feb LB 2016” designation represents a special PCGS label from a promotional event at the February 2016 Long Beach Expo, distributed primarily to Young Numismatists. The label itself adds minimal premium to the coin’s base value, which remains grade-dependent.

Value ranges parallel standard 1986-S proofs: PR69 DCAM examples typically trade in the $20-30 range, with the special label potentially adding $5-10 to standard pricing.

PR70 DCAM specimens command significantly higher premiums regardless of label. Comparable 1986-S denominations with this label (quarters at $18, half dollars at $21) demonstrate modest label premiums in PR68-69 grades.

Collector interest stems primarily from Set Registry participants completing Long Beach Expo Treasure Hunt sets rather than numismatic rarity. The coin’s technical grade and Deep Cameo contrast remain the primary value determinants.

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

 

Rare 1986 Nickel Error List

The 1986 Jefferson Nickel, despite its massive mintage, still features multiple rare minting errors. These error coins are production defects that occurred during die preparation or striking processes at U.S. Mints.

From double strikes to misplaced mint marks, these manufacturing flaws transform ordinary nickels into numismatic treasures. Error coin values range from a few dollars to several hundred dollars, depending on the error type, prominence, and condition.

1. 1986-P Wrong Planchet Error

This 1986-P Jefferson nickel was mistakenly struck on a 1986 cent planchet, creating an extremely rare wrong denomination error coin. The digits “986” from the cent’s date are clearly visible within Jefferson’s hair, while the nickel’s mint mark remains distinctly visible.

This error coin sold at Heritage Auctions graded MS64 Red. Wrong planchet errors are among the most sought-after error types in the collecting community because they represent highly unusual mishaps in the minting process.

2. 1986-D Doubled Die Obverse Error

The 1986-D Jefferson nickel with mint mark displays a doubled die error on the obverse, with noticeable doubling visible around Jefferson’s profile. Doubled die errors occur during the die-making process when the hub makes multiple impressions on the working die without proper alignment, permanently leaving doubled images on the die.

This error reproduces on all coins struck from that die. Look for clear, rounded doubling on letters, numbers, or design elements, which differs distinctly from the flat appearance of mechanical doubling.

3. 1986-P Misplaced Mint Mark Error

This 1986-P Jefferson nickel features an abnormally high “P” mint mark, significantly displaced from its standard position. Prior to the early 1990s, mint marks were hand-punched individually onto working dies, meaning mint mark positions would vary slightly.

Misplaced mint mark errors occur when operators punch the mint mark in the wrong location. These varieties hold special appeal for specialized collectors as they showcase the uniqueness of early manual minting processes.

4. 1986 P & D Rim Errors

Jefferson nickels produced at both Philadelphia and Denver Mints in 1986 include rim error varieties. Rim errors may manifest as partially missing rims, deformed edges, or unusual raised areas.

These errors typically result from planchets not being fully seated in the collar during striking, or problems with the collar itself. The value of rim errors depends on the error’s prominence and the coin’s overall condition, with circulated examples of such errors generally holding collectible value.

5. 1986-P Double Strike Error

The 1986-P Jefferson nickel double strike error occurs when a coin is struck two or more times in the press. This error produces overlapping images, with the second strike typically showing slight offset, creating a distinctive doubled outline effect on the coin’s surface.

Double strike errors are relatively rare because modern mint quality control systems usually catch such obvious defects before coins enter circulation. The value of such error coins depends on the clarity and degree of offset of the double strike.

6. 1986-P Off-Center Strike Error

The 1986-P Jefferson nickel exhibits a combination error of off-center strike and finned rim. Off-center strike errors occur when the planchet is not centered properly during striking, causing the image or design to be displaced from center. The greater the off-center percentage, the more valuable the error coin typically becomes.

When off-center strikes combine with other errors (such as finned rims or double strikes), these coins become even rarer and more valuable. A finned rim is a thin, fin-like projection formed when planchet metal squeezes out of the collar during striking.

 

Where to Sell Your 1986 Nickel ?

Whether you’ve discovered a rare error variety or simply want to liquidate your 1986 Jefferson nickel collection, choosing the right selling venue can significantly impact your final sale price and ensure you receive fair market value for your coins.

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

 

1986 Nickel Market Trend

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

 

FAQ about the 1986 Nickel

1. What does the 1986 nickel look like?

• Obverse (front): Features a left-facing profile of Thomas Jefferson, the third U.S. President
• Reverse (back): Shows Monticello, Jefferson’s Virginia home
• Composition: 75% copper and 25% nickel
• Weight: 5 grams
• Diameter: 21.2 mm

2. What errors might be found on 1986 nickels?

• Off-center strikes
• Double dies
• Repunched mint marks
• Clipped planchets

3. Are 1986 nickels made of silver?

No, 1986 nickels do not contain silver. They are made of a copper-nickel alloy (75% copper, 25% nickel). The only Jefferson nickels that contained silver were the “War Nickels” minted from 1942-1945, which were 35% silver.