If you have some spare change tucked away in a drawer or an old piggy bank, now might be the time to dig it out. Among the coins you might find is the 2004 Peace Medal nickel, a special 5-cent piece that could fetch you up to $2,750 or more if it is in mint condition. Let us break down exactly what you need to know to spot one of these valuable coins.
What is the 2004 Peace Medal nickel?
Known as the Peace Medal nickel of 2004, this coin was minted as a part of the Westward Journey series by the United States Mint. This program commemorates two very important events in the history of the United States: the Louisiana Purchase and the Lewis and Clarke expedition.
The reverse side of the coin features the reproduction of the Peace Medal design by John Reich, which included clasped hands, symbolizing unity and peace, along with a crossed peace pipe and tomahawk, and is surrounded by the words United States of America, Louisiana Purchase, 1803, and E Pluribus Unum.
On the obverse side is the Thomas Jefferson design that was used on the nickels from 1938 until 2003.
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How to identify a valuable 2004 Peace Medal nickel
Not every 2004 Peace Medal nickel is worth thousands, so it is important to know what to look for. Here is a quick checklist:
- Mintmark: Look for a “P” mintmark on the coin, indicating it was minted in Philadelphia.
- Condition: Coins in mint, uncirculated condition with a grade of MS-68 are the most valuable.
- Details: Examine the coin’s features closely to ensure they are crisp and undamaged.
Why is this coin worth so much?
Things that determine coin value:
- Grade: Coins are graded based on a 70 scale, with the highest grade meaning the better condition, therefore more value attached to it.
- Rarity: Millions of coins may be minted, but surviving hundreds in mint condition is difficult.
- Demand: The price paid by collectors significantly increases for rare, high-grade coins.
An excellent example is the 2004-P Peace Medal nickel in MS-68 condition that auctioned in 2016 for an astounding $4,230. It stands to show how much the price of a coin can change based on its grade.
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How much is a 2004 Peace Medal nickel worth?
The value of your 2004 Peace Medal nickel depends heavily on its grade. According to the Professional Coin Grading Service (PCGS), here is a breakdown:
- MS-63: Up to $5
- MS-64: Up to $8
- MS-65: Up to $14
- MS-66: Up to $35
- MS-67: Up to $210
- MS-68: Up to $2,750 or more
Tips for verifying your coin’s value
If you believe you have a valuable 2004 Peace Medal nickel, here is what you can do next:
- Consult a coin expert: A dealer or collector can help you determine its condition and value.
- Consider professional grading: Services like PCGS or NGC can assign an official grade, but keep in mind that this can cost money.
- Handle with care: To preserve its value, avoid cleaning or damaging the coin.
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