1940 (Reverse of 1938) Jefferson Nickel PCGS PR68
According to Ron Guth and Bill Gale in their 2002 edition of United States Proof Sets and Mint Sets, the Reverse of 1938 (with wavy steps on Monticello) is currently “approximately fifty times rarer” than the Reverse of 1940 variety. This variety is easily distinguished from its common Reverse of 1940 counterpart by examining the steps of…