1998 Nickel Value Checker: Errors List, “P”, “D” & “S” Mint Mark Worth

1998 Nickel value ranges from $0.05 face value to $6,325. That record was a Grade 66 example sold through Heritage Auctions in August 2006 — notable because that’s not even a top grade, meaning a higher-condition coin could fetch even more. Upload a photo of yours below to get a quick value range. Then scroll down to check what 1998 Nickels are selling for on eBay right now.

 

1998 Nickel Value By Variety

The 1998 nickel came from three different mints, and values swing wildly depending on condition, mint mark, and strike quality. If you already know your coin’s grade, skip straight to the Value Guides section below.

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

 

Top 10 Most Valuable 1998 Nickel Worth Money

The top spot belongs to a 1998-P MS66 that hammered at $6,325. Here’s the weird part: a 1998-P MS67 only brought $2,875 — less than the MS66. That’s not a mistake. The MS66 sits in a sweet spot where it’s rare enough to trigger fierce bidding from registry set collectors, but transactions happen often enough to push prices up.

Philadelphia coins dominate Denver across the board. Two different 1998-D MS66 entries show $2,640 and $695 — a huge gap likely explained by different auction dates or coin quality. The 1998-S PR70 Deep Cameo proof ranks 9th at just $690. Even at the highest possible proof grade, it can’t touch the Philadelphia circulation strike prices. For this date, high-grade business strikes are where the real money is.

 

History Of The 1998 Nickel

In early 1938, the U.S. Mint held an open design competition to replace the Buffalo nickel. About 390 artists entered by the April 15 deadline. Felix Oscar Schlag, a German-born sculptor who’d immigrated just nine years earlier, won the $1,000 prize. His obverse showed Jefferson in left-facing profile, closely modeled after Jean-Antoine Houdon’s 1789 bust.

Schlag’s original reverse featured Monticello in a dramatic three-quarter view. The Treasury rejected it and made him redraw it as the flat, head-on perspective you see on every Jefferson nickel — including the 1998 issue. He got no extra pay for the redesign.

Here’s a fun detail: Schlag forgot to put his initials on the coin. It took until 1966 — nearly three decades — for the Mint to add “FS” below Jefferson’s portrait. They struck two special commemorative pieces with the updated initials and handed them to Schlag personally. He passed away in 1974, the Jefferson nickel being his only coin design.

One more thing worth knowing: in 1939, the Mint recut the master hub to sharpen Monticello’s steps, which looked soft and mushy on the original 1938 strikes. That recutting is the whole reason Full Steps became a meaningful collector designation.

By 1998, Schlag’s design had been in continuous use for 60 years. The economy was booming — GDP grew over 4%, the federal budget hit its first surplus since 1969, and unemployment dropped to 4.5%. The Mint responded by cranking out well over a billion nickels between Philadelphia and Denver.

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

 

Is Your 1998 Nickel Rare?

Use our Coin Identifier and Value App to instantly identify your 1998 nickel’s rarity and current market value. Simply snap a photo to get professional grade estimates and real-time pricing data at your fingertips.

 

Key Features Of The 1998 Nickel

Knowing what to look for on a 1998 nickel helps you spot fakes and judge condition quickly. Schlag’s design stayed virtually unchanged for decades, so the details below apply to the whole series — but here’s what to check on your specific coin.

The Obverse Of The 1998 Nickel

You’re looking at a left-facing portrait of Thomas Jefferson, modeled after Houdon’s famous 1789 bust. “IN GOD WE TRUST” curves along the left side near Jefferson’s chest. On the right, “LIBERTY” sits above the date “1998,” separated by a small five-pointed star.

Check below the date for the mint mark — “P” for Philadelphia, “D” for Denver. Schlag’s initials “FS” appear below the bust truncation, finally added in 1966, nearly 28 years after the coin’s debut.

The Reverse Of The 1998 Nickel

Flip it over and you’ll see Monticello, Jefferson’s Virginia estate, shown straight-on. The dome and columned portico are rendered in careful detail. “E PLURIBUS UNUM” arcs along the top rim. Below the building: “MONTICELLO,” then “FIVE CENTS,” then “UNITED STATES OF AMERICA.”

Now look at the steps leading up to the entrance — this is the money zone. Coins showing all five or six steps with sharp, unbroken lines earn the Full Steps (FS) designation. That standard traces directly back to the 1939 hub recutting.

Other Features Of The 1998 Nickel

The 1998 nickel measures 21.20 millimeters in diameter and weighs exactly 5.00 grams. It’s 75% copper and 25% nickel — the same cupronickel alloy used since the post-WWII era.

The edge is plain and smooth, no reeding. That instantly separates it from dimes and quarters. The only Jefferson nickels with a different composition are the 1942–1945 war nickels, which contained 35% silver.

Thickness runs 1.95 millimeters. Legal tolerance allows ±0.19 grams, so a legit 1998 nickel can weigh anywhere from 4.81 to 5.19 grams. Keep that range in mind when you’re checking suspected wrong-planchet errors.

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

 

1998 Nickel Mintage & Survival Data

Philadelphia and Denver each produced over 600 million nickels in 1998 — more than 1.3 billion combined. That’s roughly five nickels for every man, woman, and child in the country that year.

Almost all of them went straight into circulation. Pockets, vending machines, cash drawers. Most got worn smooth or lost entirely. Only a tiny fraction survived in high Mint State grades, which is exactly why MS66 and MS67 examples bring serious money today.

The 1998-S proof tells a completely different story. San Francisco struck about 2.8 million proofs, and nearly all still exist — close to a 95% survival rate. Collectors bought them and kept them sealed. Raw mintage alone doesn’t predict rarity. Hundreds of millions of business strikes vanished, while nearly every proof survived untouched.

Also Read: Jefferson Nickel Value (1938-Present)

 

The Easy Way to Know Your 1998 Nickel Value

Determining your 1998 nickel’s true value shouldn’t require hours of research across auction records and price guides. The Coin Identifier and Value App eliminates the guesswork by instantly analyzing your coin’s mint mark, condition, and current market trends.

Simply snap a photo to receive professional-grade valuations based on real-time auction data. Whether you’re holding a common circulation strike or a potentially valuable MS66 specimen, you’ll know exactly what you have within seconds — no numismatic expertise required.

 

1998 Nickel Value Guides

Three varieties of Jefferson Nickel came out in 1998: Philadelphia (P), Denver (D), and San Francisco (S). The P and D are regular circulation strikes meant for everyday spending.

The 1998-S was struck exclusively as a proof. DCAM stands for Deep Cameo — that strong contrast between frosted design elements and mirror-like fields. The 1998-S Proof is common within the series, with examples up to PR70 DCAM readily available.

• 1998-P Nickel
• 1998-D Nickel
• 1998-S DCAM Nickel

 

1998-P Nickel Value

Here’s a number that should stop you in your tracks: 688,272,000 struck, yet PCGS has only slabbed 48 coins at MS66 Full Steps, with just 5 graded higher. NGC shows 0 at MS66 FS and only 1 above that. Those are tiny populations for a coin made by the hundreds of millions.

The problem? Nearly every coin went straight into circulation. Bag marks, pocket wear, vending machine abuse — you name it. Very few candidates survived clean enough for premium grades. At MS67 Full Steps, we’re talking about a handful of known examples. Virtually no MS67+ coins are expected to surface.

The top auction price for a standard 1998-P nickel is $6,325, achieved at Heritage Auctions in August 2006 for an MS66 example. That premium exists because populations drop off a cliff at these grades, and registry set collectors fight hard for them.

The auction records below track how 1998-P nickels have performed at major sales across different grades and strike qualities.

Market activity data reveals current collector interest for this Philadelphia issue.

 

1998-D Nickel Value

Can a coin struck 635,360,000 times be rare? At the top end, absolutely. Weak die pressure plagued Denver’s 1998 production, leaving most coins with mushy, incomplete step detail. PCGS has certified just 12 coins at MS66 Full Steps — zero higher. NGC shows 0 at that level too.

When you’re evaluating a 1998-D, look at the steps first. Count the horizontal lines at Monticello’s entrance. If you can see all five or six complete and unbroken, you might be holding something special.

The price difference is staggering. An MS66 Full Steps specimen hit $2,640 at Stack’s Bowers in August 2021. A regular MS66 without sharp steps? About $299. That’s roughly an 8-to-10x multiplier just for the FS designation. Anything grading above MS66 from Denver is genuinely rare. If you find one, don’t let it go.

Historical auction results across various grades demonstrate how Denver issues perform in the secondary market.

Current trading patterns reveal collector activity levels and demand trends for this date.

 

1998-S DCAM Nickel Value

If you’re looking for a gorgeous 1998 nickel on a budget, this is your coin. San Francisco struck approximately 2,800,000 proofs, and modern production methods delivered consistently strong Deep Cameo contrast — frosted white devices against mirror-bright fields.

PR69 DCAM examples go for around $15. PR70 DCAM typically brings $30–50. Back in January 2003, Heritage Auctions sold a PR70 DCAM for $690, but prices cratered once collectors started cracking open proof sets and submitting coins individually for grading. Supply flooded the market.

I think the modest gap between PR69 and PR70 makes chasing perfection less exciting here than with business strikes, where condition rarities command exponentially higher premiums.

Price performance across certified grades reveals how proof availability shapes collector behavior.

Trading volume indicates steady but modest demand for this readily available modern proof issue.

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

 

Rare 1998 Nickel Error List

Over a billion 1998 nickels rolled off the presses, and some came out wrong in very collectible ways. Here’s what to look for and how to tell if you’ve got something worth real money.

1. Wrong Planchet Error (Struck on a Cent Planchet)

This is the big one. A 1998-P nickel struck on a Lincoln cent planchet weighs only about 2.5 grams instead of the normal 5.0 grams. Pick it up and you’ll notice immediately — it’s copper-colored, lighter, and slightly smaller than it should be.

An MS67 Red example graded by NGC sold at Heritage Auctions in August 2010. Wrong planchet errors are among the rarest mint errors you can find. The difference in weight, color, and size makes them impossible to miss once you know what you’re looking at.

2. Broadstruck and Indent Errors

A broadstruck coin got struck outside its retaining collar. The metal spreads outward, leaving you with an oversized, flat coin with a weak or missing rim.

Some 1998-P nickels show a combo broadstruck-plus-indent error — the coin struck off-collar while a previously struck coin stayed stuck in the die, pressing an indent into the new coin’s surface. A 1998-P MS65 Full Steps NGC with this exact combination sold at Heritage Auctions on February 7, 2016. An MS67 Full Steps NGC with the same error type has also been documented in Heritage’s records.

A broadstruck-out-of-collar 1998-P graded MS66 Full Steps PCGS has sold at Heritage too. These coins attract premium bids because they combine striking quality with a genuine manufacturing mistake. That’s a cherrypicker’s dream.

3. Multi-Struck Error

Multi-struck coins got hit by the dies more than once. You’ll see overlapping or rotated design impressions on the same planchet.

A 1998-P MS67 Full Steps NGC with a multi-struck error has been documented at Heritage Auctions. These are extremely scarce in high Mint State grades. Value depends on how many strikes hit the coin, how dramatic the overlap looks, and overall preservation. Strong examples with clear doubling of design elements can bring several hundred dollars or more.

4. Off-Center Strike Error

When the planchet doesn’t land squarely between the dies, part of the design gets cut off. On 1998 nickels, you’ll see anything from minor 5% shifts to dramatic 50%+ displacements.

The golden rule: the more off-center the strike, the more valuable — as long as the date is still visible. A dateless off-center coin is worth much less.

Expect $20–50 for 10–15% off-center examples in circulated grades. Dramatic 40–50% offsets with clear dates in uncirculated condition can reach $100–$300.

5. Struck-Through Grease Error

Grease or debris builds up on the die face and blocks metal flow during striking. The result? Weak or missing design elements that look smooth or “ghostly” compared to the sharp detail around them.

On 1998 nickels, this most often hits Monticello’s architectural details or Jefferson’s portrait. Minor grease fills add $5–$15. Dramatic examples with significant design loss in higher grades can reach $50–$100.

6. Die Crack and Cud Error

After striking thousands of coins, dies develop stress fractures. These show up as raised lines on the coin’s surface. When a chunk of the die breaks away at the rim, you get a “cud” — a raised, blank blob where metal filled the void.

On 1998 nickels, look for raised lines crossing Jefferson’s face, running through lettering, or connecting design elements. Cuds appear as chunky raised areas along the edges.

Hairline cracks need magnification to spot and add $10–$30. Prominent cracks across facial features bring $40–$80. Big cuds on high-grade coins can top $100–$200.

 

Where To Sell Your 1998 Nickel?

Now that you’ve identified your 1998 nickel and understand its potential value, the next step is finding the right marketplace to sell it. Whether you have an off-center strike worth $50 or a rare wrong-planchet error valued at several hundred dollars, choosing the right platform can significantly maximize your return.

Below is a list of trusted online selling venues to help you make an informed decision.

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

 

FAQ About The 1998 Nickel

1. Are regular 1998 nickels worth more than face value?

In circulated condition, they’re worth five cents. Period. Philadelphia and Denver made over 1.3 billion that year.

Uncirculated examples in MS65 or higher can bring $5–$15. The real money is in error varieties and high-grade Full Steps specimens. If your coin shows any striking abnormality — off-center, die crack, doubled features, wrong planchet — it could be worth $10 to several hundred dollars.

2. What does Full Steps mean on a 1998 nickel, and why does it matter so much?

Full Steps (FS) means the staircase at Monticello’s base shows five or six completely uninterrupted horizontal lines. Even one tiny bridge between two step lines — from a die gouge, planchet flaw, or weak strike — kills the designation. The standard is strict.

Why does it matter? Scarcity. Both Philadelphia and Denver produced coins with chronically soft step details from die pressure and fatigue issues. PCGS has certified only 48 examples of the 1998-P at MS66 FS, with just 5 graded higher. That tiny population out of over 688 million coins struck tells you everything.

3. What is the most valuable 1998 nickel ever sold?

The record for a standard 1998-P nickel is $6,325, achieved at Heritage Auctions in August 2006 for an MS66 example.

For errors, the top prize goes to a wrong-planchet coin — a 1998-P struck on a Lincoln cent planchet, graded MS67 Red by NGC, sold at Heritage Auctions in August 2010. You can spot these instantly by their copper color, lighter weight (approximately 2.5 grams versus the normal 5.0 grams), and smaller diameter.

4. How can I tell if my 1998 nickel is a valuable error coin?

Start by weighing it. A normal 1998 nickel hits 5.0 grams. If yours weighs around 2.5 grams, you might have a wrong-planchet error worth serious money.

Next, grab a 10x loupe and good lighting. Look for off-center design elements leaving a blank crescent. Check for raised lines across the portrait or lettering (die cracks), or raised blank blobs at the rim (cuds). Examine letters, the date, and Jefferson’s features for doubling. Look at Monticello for unusual weakness suggesting a struck-through grease error.

Whatever you do, don’t clean it. Cleaning destroys collectible value entirely.

5. What is the 1998-P nickel PCGS population at MS66 Full Steps?

Only 48 examples at PCGS. Just 5 graded higher. NGC shows 0 at MS66 FS and only 1 above. Those numbers are remarkably thin for a coin with a mintage exceeding 688 million.

6. Is the 1998-S proof nickel worth collecting?

It’s affordable and beautiful. San Francisco struck approximately 2.8 million proofs, and most survive today in original packaging.

PR69 DCAM runs about $15. PR70 DCAM typically brings $30–50 — way down from the $690 one fetched at Heritage Auctions in January 2003. The market corrected once tons of proof sets got cracked open and submitted for grading. Great value for a budget collection, but it lacks the investment upside of scarce high-grade circulation strikes.

7. What caused the 1998 nickel’s Full Steps scarcity?

It comes down to die wear during high-volume production. When you’re pushing dies to strike hundreds of millions of coins, the die faces gradually lose the crispness needed to fully impress Monticello’s step detail.

This has been a problem since 1938, when the original debut produced fuzzy steps. The Mint recut the master hub in 1939 to fix it, but achieving consistent Full Steps quality has remained one of the toughest challenges in the Jefferson series. By 1998, with production running at massive scale, the vast majority of coins came off the presses with incomplete steps. Only coins struck from fresh, well-aligned dies early in a run had any real shot at earning FS.

8. What is a broadstruck error on a 1998 nickel, and what is it worth?

The retaining collar — the ring that forms the coin’s rim and controls its diameter — wasn’t in place during striking. Without it, the metal spreads freely, producing an oversized, flatter-than-normal coin.

Documented examples include broadstruck-out-of-collar 1998-P nickels graded MS65 Full Steps and MS66 Full Steps at Heritage Auctions. Some also carry a secondary indent from a previously struck coin stuck in the die. Prices for strong examples typically start at several hundred dollars and go up from there, especially when Full Steps quality combines with the error.

9. Does the 1998 nickel have any silver content?

No. Zero silver. It’s 75% copper and 25% nickel.

The only Jefferson nickels with silver are the War Nickels from 1942 to 1945, which contain 35% silver. You can spot them by the large mint mark above Monticello on the reverse — a big “P,” “D,” or “S” sitting right over the dome. The 1998 nickel has none of those characteristics.

10. Where is the best place to sell a valuable 1998 nickel?

For coins worth $100 or more, I’d recommend major auction houses. Heritage Auctions has documented multiple significant 1998 nickel sales. Stack’s Bowers Galleries, founded in 1933, regularly handles Jefferson nickel error coins too.

Get your coin slabbed first. Submit to PCGS or NGC for authentication and grading before selling. Certified coins consistently bring higher prices and attract more competitive bidding than raw examples.

For coins worth under $50, eBay or specialized dealer networks work fine. The Best Places To Sell Coins Online guide covers pros and cons of each option in detail.