What is the difference between Nikon J1 and Nikon V1?

What does the other not have that the other one does?

The V1 has a viewfinder, so you do not have to hold the camera at arm's length to compose your shots

I was just in Sam's Club buying some staples and saw that the J1 with two lenses for under $700

Nikon j1 has nice resolution. I have used this once and i'm completly satisfied.

I think Nikon 1 J1 is better than 1 V1. Read this review for more info:

http://www.amazon.com/...CAV74RE8X/

I can compare the 2 point by point for you.

Advantages of the Nikon J1 over 1 V1:

1.Significantly smaller 106x61x29 mm vs 113x76x43 mm
2.Slightly better image quality 56.0 vs 54.0
3.Better color depth 21, 5 bits vs 21, 3 bits
4.Significantly thinner 1, 2" vs 1, 7"
5.Built-in flash Yes vs No
6.Cheaper
7.Slightly lighter 277 g vs 294 g

Best price for Nikon J1 from my research:

http://www.amazon.com/...005OGQXJW/

Best price for Nikon V1 from my research:

http://www.amazon.com/...005OGR3DM/

Hope this helps.