The new Jefferson Nickels were not released until late in 1938, and even then the coins were difficult to obtain in quantity. As collectors and speculators sought to put away complete rolls of fresh coins, this situation was frustrating for about a year or so. Finally, remaining stocks of Buffalo Nickels were depleted, and the 1938 Jeffersons became common and were hoarded by the roll.
The original master hub for this type's reverse was indistinct in the portico and steps of Monticello, so coins with five full steps (5FS) are rare, and 6FS coins are all but unknown.
Minor doubled-die obverse varieties are known for this issue, and these make a nice supplement to an otherwise very common coin.
Mintage:
| Philadelphia | Denver | San Francisco |
| 19,515,365 | 5,376,000 | 4,105,000 |