Is the U.S. Nickel Next? Top 20 Nickels to Collect Now

The End of Small Change?

With the U.S. penny set to end production in 2025, attention has turned sharply to its five-cent counterpart: the nickel. Once a staple of vending machines, pocket change, and childhood piggy banks, the nickel is now under economic scrutiny. The U.S. Mint currently spends nearly 14 cents to produce a single nickel, prompting calls for reform or elimination.

In February 2025, H.R.1270, a bipartisan bill introduced in Congress, proposed suspending production of both the penny and the nickel pending a study of their cost-efficiency and public utility. While the bill has yet to pass, it signals a growing consensus: low-denomination coins may no longer be worth their cost.

If the nickel is indeed on its way out, collectors and investors alike have a narrow window to scoop up rare and valuable examples of this iconic American coin.

A Brief History of the U.S. Nickel

The nickel has gone through several major design changes since its debut in the mid-19th century. Here’s a quick timeline:

• 1866–1883: Shield Nickel – The first five-cent piece made of copper-nickel alloy. No “cents” was initially included, leading to widespread fraud.

• 1883–1913: Liberty Head (V) Nickel – Known for its classical portrait and large Roman numeral V on the reverse.

• 1913–1938: Buffalo Nickel – A rugged American design featuring a Native American on the obverse and a bison on the reverse.

• 1938–2003: Jefferson Nickel (Original) – Featuring President Thomas Jefferson and Monticello. Designed by Felix Schlag.

• 2004–2005: Westward Journey Series – Commemorative designs honoring the Lewis and Clark expedition.

• 2006–Present: Modern Jefferson Nickel – Updated portrait of Jefferson with a forward-facing view.

With nearly 160 years of history, the U.S. nickel has become a rich target for collectors - especially if the series concludes in the near future.

Can the Nickel Be Saved?

While the high production cost has made the nickel a target for phase-out, several viable solutions could preserve it without burdening taxpayers:

• Change in Composition

One of the most discussed options is altering the nickel’s metal makeup. By switching from its current copper-nickel blend to cheaper materials like steel or plated zinc, the Mint could significantly cut costs - just as Canada did with its modern coins.

• Redesign for Efficiency

Another possibility is a complete redesign that reduces weight and size while preserving the coin’s recognizability. A lighter and thinner nickel could reduce material use and strike costs while remaining functional in vending machines and coin-counting equipment.

• Limited Circulation or Digital Transition

Alternatively, the nickel could transition to a limited-use coin, minted primarily for collectors or ceremonial issues. A more radical approach might tie the nickel’s role to digital cash solutions - preserving its legacy without continued mass production.

• Data-Driven Trial Programs

The proposed bill, H.R.1270, also opens the door for trial programs to test alternative materials and designs. These programs could offer real-world insight into what changes the public would accept, and what changes are most cost-effective.

While none of these paths are confirmed, they demonstrate that the nickel’s future doesn’t necessarily have to end with elimination - it could evolve.

Top 20 U.S. Nickels to Look For

Here are twenty U.S. nickels that stand out for rarity, value, historical significance, or striking errors:

1. 1913 Liberty Head Nickel
   Ultra-rare - only five known to exist. One sold for over $4 million.

2. 1885 Liberty Head Nickel
   Key date with the lowest mintage of the series - only 1.47 million.

3. 1926-S Buffalo Nickel
   Lowest mintage Buffalo Nickel. Highly sought after in higher grades.

4. 1918/7-D Buffalo Nickel (Overdate)
   Clear overdate error. Extremely scarce and valuable in any condition.

5. 1937-D “Three-Legged” Buffalo Nickel
   Minting error where one of the bison’s legs is missing. Highly collectible.

6. 1942-P “War Nickel” (35% Silver)
   First wartime nickel with a large “P” mintmark above Monticello.

7. 1943-P Double Eye Jefferson Nickel
   Unusual double die on Jefferson’s eye - popular among error collectors.

8. 1950-D Jefferson Nickel
   Lowest mintage of all Jefferson nickels - only 2.6 million.

9. 1939-D Jefferson Nickel
   Difficult to find in high grades due to weak strikes and low numbers.

10. 1964 SMS (Special Strike) Jefferson Nickel
    Mystery coins believed to be test strikes. Scarce and often confused with proofs.

11. 2005-D Speared Bison Nickel
    Dramatic die gouge through the bison’s side. Popular modern error.

12. 2009-P Jefferson Nickel (Low Mintage Year)
    One of the lowest mintages in decades - overlooked by many collectors.

13. 1938-D Buffalo Nickel
    Final year of the Buffalo series. Scarce in mint state.

14. 1867 Shield Nickel with Rays
    Short-lived reverse design variation. More valuable than the no-rays version.

15. 1877 Shield Nickel
    Low mintage and desirable in any condition.

16. 1949-D/S Jefferson Nickel (Overmintmark)
    Rare overmintmark variety. Strong premiums for well-defined examples.

17. 1981-S Type 2 Proof Jefferson Nickel
    Clearer “S” mintmark used late in the proof run. Less common than Type 1.

18. 2004-D Peace Medal Nickel (High Grade)
    Part of the Westward Journey series - valuable in MS67 and higher.

19. 1982-P Jefferson Nickel (No Mintmark)
    Unusual for Philadelphia coins - early P-less strike. Worth a premium.

20. 1971-S Proof Jefferson Nickel (Cameo)
    Cameo contrast proof coins from this era are increasingly collectible.

A Disappearing Denomination Worth Discovering

Whether or not the U.S. nickel follows the penny into retirement, one thing is clear: its numismatic legacy is vast, diverse, and potentially lucrative. From ultra-rare 1913 Liberty Nickels to wartime silver issues and dramatic mint errors, the nickel series offers collectors a treasure trove of history.

If H.R.1270 moves forward, the days of the nickel may be numbered - so now is the time to explore your change jar, build your collection, or invest in key dates before demand spikes.

At Bullion Exchanges, we celebrate America’s rich coinage history and offer secure options for purchasing rare and investment-grade coins. Keep an eye on your pockets - because the next valuable nickel could already be in your hand.

Another article that may interest you:
1913 Type 1 Buffalo Nickel: A Bold Start to a Legendary Series