Despite its relatively modest mintage, the 1938 D Jefferson Nickel is common across most grades. Many rolls were put away at the time, and this issue's low mintage further encouraged collectors to save duplicates encountered in circulation. Of the three mints, Denver was at this time producing the most consistently well made coins, and superb gems are fairly plentiful. 1938 D is also the coin most likely to be found with either five or six full steps, though neither may be called common. The poor quality of the master hub precluded a large number of fully struck pieces.
An extremely minor doubled-die reverse is known for 1938 D nickels, but it is of little interest to collectors.
Mintage:
| Philadelphia | Denver | San Francisco |
| 19,515,365 | 5,376,000 | 4,105,000 |