A circulated 1964 nickel is worth five cents. It is copper-nickel, not silver, and with 1,024,672,000 struck at Philadelphia and 1,787,297,160 at Denver it is one of the most common coins ever made. As of October 2026, the money is in uncirculated coins with Full Steps on Monticello, which PCGS values at $175 to $10,000, and in the rare 1964 SMS nickel, valued at $4,000 to $18,000.
People keep 1964 nickels because 1964 is the famous last year of silver dimes, quarters and halves. The nickel was never part of that. Unless it is a war nickel from 1942 to 1945, a Jefferson nickel contains no silver, and the 1964 is worth face value in any worn condition.
Quick answer
- Circulated 1964 or 1964-D nickel: five cents. No silver.
- Uncirculated without Full Steps (PCGS guide): about $15-16 in MS65, $26-65 in MS66, $1,150-1,200 in MS67, though PCGS MS67 1964-D coins have actually sold for $280-504.
- With Full Steps (PCGS guide): 1964 about $175 in MS65 and $800 in MS66; 1964-D about $650 in MS65 and $1,500 in MS66. Auction sales often run lower, for example $132-145 for a 1964 MS65 FS in 2018-2025.
- Records: $14,100 for a 1964 MS67 Full Steps (Heritage, 2014) and $9,900 for a 1964-D MS67 Full Steps (Heritage, 2025).
- 1964 SMS nickel: PCGS values $4,000 in 65 to $18,000 in 67; one sold for $18,000 at Heritage in August 2025.
How do you value a 1964 nickel, step by step?
Read the mint mark, decide whether it is uncirculated, then count the steps.
- Confirm the date. The date is on the front, on the right side below LIBERTY. 1964 nickels show the original Jefferson portrait facing left and Monticello on the back.
- Find the mint mark. On 1964 nickels it is a small letter on the back, to the right of Monticello, near the rim. D means Denver. No letter means Philadelphia. The front position below the date only starts in 1968, and the large letter above the dome belongs only to 1942 to 1945 war nickels.
- Rule out silver. A 1964 nickel weighs 5.00 grams, like every regular Jefferson nickel. It is 75 percent copper and 25 percent nickel. Do not let anyone sell it to you as silver.
- Decide whether it is uncirculated. Look at Jefferson's cheekbone and the hair above his ear, and at the top of the dome and the columns on the back. Any flatness, gray dullness or rub means circulated, and the coin is worth five cents.
- Count the steps. On an uncirculated coin, look straight at the steps under the columns of Monticello with a 5x or 10x loupe and one light source. Count only steps that run complete from end to end, with no nick or weak spot breaking the line. Five complete steps qualify for Full Steps at PCGS; NGC uses 5FS and 6FS.
- Check the mint mark for repunching. PCGS lists a 1964-D with a repunched mint mark (FS-501), which shows a second D slightly offset under or beside the main one.
- Check the finish. A coin with an unusual satin finish and very sharp detail may be the rare 1964 SMS. Mirror-finish coins in plastic sets are 1964 proofs, which are common.
- Price from sold results for the exact mint, grade and Full Steps designation.
What is a 1964 nickel worth?
Five cents unless it is uncirculated, and real money only with Full Steps or the SMS finish. Values are from the PCGS Price Guide as of October 2026.
| Coin | Mintage | Circulated | MS64 | MS65 | MS66 | MS67 |
|---|---|---|---|---|---|---|
| 1964 | 1,024,672,000 | 5 cents | $10 | $15 | $65 | $1,150 |
| 1964, Full Steps | Part of the above | Not applicable | $65 | $175 | $800 | $4,500 |
| 1964-D | 1,787,297,160 | 5 cents | $10 | $16 | $26 | $1,200 |
| 1964-D, Full Steps | Part of the above | Not applicable | $50 | $650 | $1,500 | $10,000 |
| 1964 SMS | Unknown, very few | Not applicable | $3,500 | $4,000 | $5,750 | $18,000 |
PCGS lists auction records of $14,100 for a 1964 MS67 Full Steps at Heritage in September 2014, $9,900 for a 1964-D MS67 Full Steps at Heritage in May 2025, and $18,000 for a 1964 SMS in SP67 at Heritage in August 2025. These are condition rarities, and other sales show how far below the guide many coins trade: a 1964 MS66 Full Steps has sold for $480-900 since 2020, a 1964-D MS65 Full Steps for $264-1,140 since 2021, and earlier 1964 SMS nickels in SP67 for $1,725-4,140 between 2004 and 2010. An ordinary uncirculated 1964 from a roll is usually an MS63 or MS64 coin without full steps and is worth a few dollars.
Why does Full Steps matter so much on a 1964 nickel?
Because the steps of Monticello are one of the weakest-struck details on the coin and are rarely complete. The steps sit opposite the highest point of Jefferson's portrait on the other side of the coin, so metal often fails to fill both. Add billions of coins tumbling in bags and counting machines, and very few survive with five clean steps.
The table shows the effect: a 1964-D in MS65 is valued at $16 without Full Steps and $650 with them. The rule for grading is strict. Each step has to be complete from end to end. A bag mark that cuts across one step, a weak spot in the middle, or steps that merge together cost the designation, and with it most of the value.
What affects the price of a 1964 nickel?
Four things, in this order. Mint and date matter least, because both 1964 issues are common.
| Factor | What to check | Effect on value |
|---|---|---|
| Wear | Cheekbone, hair above the ear, top of the dome | Any wear drops it to five cents |
| Steps | Five or six complete lines under the columns, under a loupe | Full Steps can multiply an MS65 value 10 to 40 times |
| Marks and luster | Nicks on the cheek and in the open fields, frosty mint shine | Separates MS63 at a few dollars from MS66 and up |
| Finish | Satin SMS, mirror proof or normal business strike | A genuine SMS starts around $3,000; proofs are common |
| Varieties | Repunched D (FS-501) | A modest premium, mainly in mint state |
Toning is a smaller factor. Old rolls often turn the coins golden or brown. Even, attractive toning does not hurt, but dark spots, green corrosion or a dull gray film from storage lower the grade. A coin that has been wiped or polished shows fine parallel hairlines under a loupe and is valued as a damaged coin.
What is the 1964 SMS nickel?
A small number of 1964 coins of every denomination were struck with a satin finish and needle-sharp detail, different from both business strikes and mirror proofs. Collectors call them 1964 Special Mint Set (SMS) coins. Their purpose is not documented; one theory is that they were trial pieces for the Special Mint Sets sold from 1965 to 1967. PCGS guide values are $3,000 in 63, $4,000 in 65, $5,750 in 66 and $18,000 in 67. The $18,000 figure follows one Heritage sale in August 2025; earlier SP67 coins sold for $1,725 to $4,140, so sales are thin and prices can swing.
The honest answer for almost everyone is that their coin is not one. 1964 proofs have mirror fields and came in flat plastic proof sets; they are common. The 1965 to 1967 Special Mint Set nickels were sold by the million and are worth little. Only PCGS or NGC can attribute a 1964 SMS coin.
Why are there so many 1964 nickels?
The Mint struck more than 2.8 billion of them during a national coin shortage. Public Law 88-580, passed in September 1964, allowed the Mint to keep striking coins dated 1964 into the following year while it built up supplies, so many 1964 nickels were actually made in 1965. That huge output is why a worn 1964 nickel is worth face value and why the date has no rarity of its own.
A worked example
Say you find a roll of 1964-D nickels in a drawer, still bright and orange-gold toned. You open it and look at each coin's back under a desk lamp with a 10x loupe.
Most coins show four steps at best, with the middle steps blurred together. Two coins look better. On the first, five steps are visible but a small nick cuts across the third step on the left; that breaks it, so it does not qualify. On the second, five steps run clean across under the columns, the cheekbone has full luster, and you see only a few tiny marks. That coin might grade MS64 or MS65 with Full Steps, which PCGS values at $50 to $650. The rest of the roll sells as an ordinary uncirculated roll, a modest premium over its $2 face value. The one candidate is worth a dealer's look before you pay a grading fee, which at PCGS starts at $23 per coin for coins worth up to $300, before membership and shipping.
Common mistakes
- Thinking 1964 nickels are silver. They are copper-nickel and weigh 5.00 grams.
- Looking for the mint mark on the front. In 1964 it is on the back, right of Monticello.
- Counting steps in a phone photo. Steps that look complete on a screen are often broken under a loupe.
- Calling a proof an SMS. Mirror fields and proof-set packaging mean a common proof.
- Grading every bright coin. Without Full Steps, a 1964 in MS65 is worth about $15, less than the fee.
- Cleaning nickels. It strips luster and kills any chance of a high grade. See should you clean old coins.
How WorthPic reads 1964 nickel photos
WorthPic runs on the newest and most capable AI model available, tuned for exactly this kind of identification. For a 1964 nickel it reads the date, finds the mint mark to the right of Monticello, judges wear on Jefferson's cheek and the dome, and looks at the steps under the columns. It then gives an honest value range, which for most 1964 nickels is five cents. Full Steps is where it is most careful: a photo can show that steps look strong, but it cannot always prove every line is unbroken, so it asks for a straight-on close-up under one light and says plainly when the photo cannot settle it. It identifies and estimates. It does not grade, does not assign Full Steps and does not appraise.
What to photograph
- The back straight on, in even light, with the mint mark and steps visible.
- The steps close up, straight on, under a single light, filling the frame.
- The front straight on, for the date and the cheekbone.
- The mint mark close up on any 1964-D, for repunching.
- The packaging if it came in a proof set or holder.
When to get it looked at in person
Worn 1964 nickels do not need an expert; spend them or keep them. Uncirculated rolls without standout coins sell best as rolls to a local dealer or collector, since breaking them up to sell coin by coin rarely pays. An uncirculated coin with five or six clean steps under a loupe, a possible SMS coin, or a 1964-D with a doubled mint mark should go to a coin dealer or club first and then to PCGS or NGC, which assign the Full Steps designation buyers pay for. For the whole series, see our Jefferson nickel value guide; for silver war nickels, the 1943 nickel value guide; and for a quick sort of a jar of change, what nickels are worth money.
Sources
- PCGS CoinFacts: 1964 5C: mintage, weight, composition and price guide values.
- PCGS CoinFacts: 1964 5C, Full Steps: Full Steps guide values and the $14,100 MS67 record.
- PCGS CoinFacts: 1964-D 5C: mintage, price guide values and the listed repunched mint mark.
- PCGS CoinFacts: 1964-D 5C, Full Steps: Full Steps guide values and the $9,900 MS67 record.
- PCGS CoinFacts: 1964 SMS 5C: SMS guide values and the $18,000 SP67 Heritage sale.