This was the first year of production for Jefferson Nickels, and the huge mintage of 1939(P) clearly reflects this fact. Both the obverse and reverse master hubs were revised from the 1938 coinage, the obverse at the very beginning of 1939 and the reverse a little later, after minting had already commenced. Thus, a minority of 1939(P) nickels have the old style reverse, with its indistinct central features of Monticello.
1939(P) Rev of 38 nickels are relatively scarce across all grades, though heavily worn pieces are probably indistinguishable as to their reverse subtype. Examples having any degree of full steps are extremely rare
Early in 1939 the reverse of this coin type was revised to sharpen features of Monticello, and this is most visible in the more distinct steps and portico of Monticello. This Rev of 39 subtype comprises the vast majority of 1939(P) nickels, and it is far more likely to show either 5FS or 6FS. Even so, neither attribute is common for this date/mint issue.
There are two very popular doubled-die reverse varieties for this issue, the latter one actually having some quadrupling of the design.
Mintage:
| Philadelphia | Denver | San Francisco |
| 120,627,535 | 3,514,000 | 6,630,000 |