As the final issue of nickels from the San Francisco Mint before that facility's ten-year suspension in coining, 1954 S rolls were widely hoarded. Mint State pieces are thus very common, and many have been certified as gems on the basis of luster and surfaces alone. This issue, however, is extremely rare with a full strike. In fact, it is widely regarded as the most troublesome coin in the Jefferson series for those seeking either 5FS or 6FS.
Of the several S/S varieties, only one is sufficiently appealing to be sought by general collectors. Of far greater interest, however, is the overmintmark S/D. Due to the general hoarding of 1954 S nickels, enough Mint State examples have survived for the advanced collectors, and worn examples are still turning up in collections assembled from circulation years ago.
Mintage:
| Philadelphia | Denver | San Francisco | Proof |
| 47,917,350 | 117,136,560 | 29,384,000 | 233,300 |