There's A 1994 Nickel Worth More Than $1,700 (See What Makes 1994 Nickels Rare & Valuable) (2024)

I was amazed to find out that some 1994 nickels are worth a lot more than just their face value of 5 cents!

In fact, some 1994 in near-“perfect” condition can sell for hundreds of dollars or even more.

But it’s not all about condition…

If you find a 1994 nickel with errors — it, too, can be worth some real cash money.

So, how can you tell if your 1994 nickel is worth lots of money or not?

Read on. I’m going to tell you exactly what you need to be looking for on 1994 nickels…

What Makes A 1994 Nickel Rare & Valuable?

You probably find 1994 nickels in your pocket change from time to time, and that’s not really surprising given how many of these coins were made. More than 1.4 billion (that’s billion, with a “B“) nickels were struck by the United States Mint in 1994. You don’t need me to tell you that’s a lot of nickels!

So, what could possibly make a coin that saw more than a billion strikes become rare and valuable?

Again, condition and the presence of errors or varieties are two of the major factors behind why some 1994 nickels are worth so much.

But there are also two special kinds of 1994 Jefferson nickels that you may never find in circulation that are quite valuable.

I’m going to talk about the different kinds of 1994 nickels and how much they’re worth, but first you need to learn something very important about Full Steps Jefferson nickels. These are usually the most valuable kinds of Jefferson nickels…

A Word (Or Two) About Full Steps Nickel Values

Many people who are looking up the values of their Jefferson nickels come across the term “Full Steps” somewhere in the course of their journey.

It’s a term I want to address now because I’m about to mention Full Steps a lot in this list of 1994 nickel values and don’t want you to be confused — or get big ideas about what your nickel may be worth without giving you some context behind what a Full Steps nickel is… And isn’t.

So what is a Full Steps Jefferson nickel?

It’s a Jefferson nickel that shows 5 or 6 complete, unbroken steps at the base of Monticello, the building on the reverse (tail’s side) of the coin. You have to see 5 or 6 steps without any interruptions at all — no nicks, dents, or other imperfections hampering the appearance of the steps.

Oh, and the main thing about Full Steps nickels beyond the number of steps showing? It must be uncirculated. That means all those “perfect-looking” Jefferson nickels you’re finding in pocket change that surely must be Full Steps nickels aren’t candidates — not if they have wear. And if you’re finding your nickels in pocket change, then they’re going to have at least a little bit of light wear on the high points of the design (like Jefferson’s cheek).

Your only chance of finding bona fide Full Steps nickels in the wild will be in searching for uncirculated specimens in bank rolls of coins. Not impossible, of course. But don’t start expecting to turn up a bunch of 1994 Full Steps nickels worth money in your spare change.

Find Out The Grade Of Your 1994 Nickel

To determine the true value of your 1994 Jefferson nickel, you first need to know what condition (or grade) your coin is in.

Grab a coin magnifier and a copy of the U.S. Coin Grading Standards book. Then, watch this video to see how to grade coins yourself at home:

These coin grading apps are also helpful in determining the true condition / grade of your coin.

1994-P Nickel Value

The 1994-P nickel carries the “P” mintmark of the Philadelphia Mint, where the coin was struck. You can find the “P” mint letter under the date 1994 on the obverse (or head’s side) of the coin.

A total of 722,160,000 nickels were struck at the Philadelphia Mint in 1994, and many of these are still floating around in circulation today.

If you find a worn 1994-P nickel with no errors or varieties, it’s worth its face value of 5 cents.

Uncirculated 1994-P nickels are generally worth 20 to 50 cents.

A nice 1994-P Full Steps nickel is worth somewhere between $10 and $20.

And one of the most valuable 1994-P nickels was graded by Professional Coin Grading Service as Mint State-69 Full Steps sold for an astonishing $729 in a 2013 auction.

But that wasn’t the most valuable 1994-P nickel… Not by a long shot!

In 1994, the U.S. Mint issued the 1994 Thomas Jefferson Coinage and Currency Set, which contained a Thomas Jefferson Commemorative silver dollar, a 1976 $2 bill, and a 1994-P special strike Jefferson nickel with a matte finish. These sets were sold for $39 each, and I really hope you bought one and hung on to it.

Only 167,703 of the 1994-P special strike nickels were made — and they’re each worth around $20 or more.

As things go with coin values, the better the condition of the coin, the more it’s worth. And that’s the case with the 1994-P special strike. One example that was graded by Professional Coin Grading Service as Special Strike-70 Full Steps sold for $1,725 at a 2010 auction.

1994-D Nickel Value

The 1994-D nickel was struck at the Denver Mint to the tune of 715,762,110 pieces, each carrying the “D” mintmark under the coin’s date.

These coins are extremely common. They’re worth only their face value of 5 cents in worn condition.

Uncirculated examples are typically worth 20 to 50 cents apiece.

The most valuable 1994-D nickel was graded Mint State-67 Full Steps by Professional Coin Grading Service and hammered for a whopping $1,356 in a 2012 sale.

1994-S Nickel Value

You probably won’t find any 1994-S nickels in your pocket change. That’s because they were specially made for coin collectors.

These super-shiny coins were made using highly polished blanks that were struck on high-tonnage presses that helped ensure even the most minute details appear in vivid detail. The coins were sold directly to the public in proof sets. So, except for the occasional piece that’s broken out of the proof set and used as regular money (hey, it happens!), you’re not going to find a 1994-S proof nickel in circulation.

You can buy 1994-S proof nickels from a coin dealer for between $2 and $5 apiece. Prices go up the scale based on condition — with the most valuable 1994-S nickel bearing a grade of Proof-70 Deep Cameo by Professional Coin Grading Service and fetching $431 in a 2001 auction.

1994 Error Nickel Values

Some of the most valuable 1994 nickels aren’t the “perfect” ones but rather the imperfect ones. Take a look at what some 1994 nickel errors have sold for:

• 1994-P nickel struck on clad planchet — $881.25.
• 1994-P nickel flip-over quadruple strike, triple-struck off center — $360.00.
• 1994-P special strike nickel die crack on reverse — $322.00.