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Very Fine
The nickel is in very fine, or VF-20, condition if the pillars of Monticello can still be seen on the reverse and Jefferson's cheekbone is still visible. The coin can have a good amount of wear. The coin is worth about $1 in this condition.
Extremely Fine
The cheekbone, hair lines and eyebrow of Jefferson must be well defined, and the base of the triangle above the pillars of Monticello is visible for the nickel to be extremely fine, or EF-40. This carries a slight premium of about $1.50.
About Uncirculated
To get a grade of AU-50, there can only be traces of wear on the high points of the design and some of the luster must still be present. This bumps the value up to about $2.50.
Uncirculated
Not an easy grade to find in older coins, uncirculated condition, or MS-60, requires no trace of wear in the 1945 Jefferson nickel and only light blemishes on the coin. In this condition the coin is worth $5.
Double Die
The 1945 issue is known to have some copies that have a double die on the reverse, which means the coin was struck twice and you can see letters over letters. It is unknown how many copies exist, but this rare defect carries a major premium, from $20 for VF-20 condition to $75 for MS-60.