During World War II, the U.S. faced a shortage of nickel—a metal crucial for military production. To conserve resources, the government altered the composition of the five-cent coin, creating a unique series of Jefferson nickels that are now prized by collectors. Some of these coins can be worth thousands, especially rare varieties in top condition.
Why Were Wartime Nickels Made?
Nickel was essential for armor plating, artillery, and other wartime equipment. To preserve this valuable metal, the U.S. Mint changed the Jefferson nickel’s composition from 75% copper and 25% nickel to a silver-based alloy from late 1942 to 1945. The new mix contained:
- 35% silver
- 56% copper
- 9% manganese
This made them the only U.S. nickels ever minted with silver.
How to Identify a Wartime Nickel
Not all Jefferson nickels from the 1940s are silver. Here’s how to spot the valuable ones:
✅ Check the Date: Only 1942 (mid-year onward), 1943, 1944, and 1945 nickels contain silver.
✅ Look for the Mint Mark: Wartime nickels have a large “P,” “D,” or “S” above Monticello on the reverse.
✅ Magnetic Test: Silver nickels won’t stick to a magnet, unlike regular nickels.
What Makes Some Wartime Nickels So Valuable?
While most silver nickels are worth a few dollars, some can fetch thousands due to:
1. Rare Varieties & Errors
- 1943-P “Doubled Eye” – Shows doubling on Jefferson’s eye (worth $100–$1,000+).
- 1942-P Proof Nickel – Rare proof strikes in silver ($1,000+).
2. Full Steps (FS) Nickels
Coins with fully visible steps on Monticello’s design are highly sought after. Examples:
- 1944-S FS – Up to $5,000+ in top condition.
- 1945-P FS – Can sell for thousands in mint state.
3. High-Grade Condition
Uncirculated coins with sharp details and no wear command premium prices, especially when certified by PCGS or NGC.
Top Valuable Wartime Nickels
Year & VarietyEstimated Value (Uncirculated) 1943-P Doubled Eye $100 – $1,000+ 1944-S Full Steps $1,000 – $5,000+ 1945-P Full Steps $500 – $3,000+ 1942-P Proof (Silver) $1,000+ 1945-D High Grade $200 – $1,000
Where to Sell Wartime Nickels
If you find one, you can sell it through:
- Coin dealers (get multiple appraisals)
- Online auctions (eBay, Heritage Auctions)
- Coin shows & collector forums
FAQs About Wartime Nickels
1. Are all 1942-1945 nickels silver?
No—only those with a large mint mark (P, D, or S) above Monticello. Some 1942 nickels were still made in the traditional copper-nickel alloy.
2. How much silver is in a wartime nickel?
Each contains 0.05626 oz of silver, so their melt value fluctuates with silver prices.
3. What’s the rarest wartime nickel?
The 1943-P Doubled Eye and 1944-S Full Steps are among the most valuable.
4. Can I find these in circulation today?
It’s rare but possible—always check old nickels for the large mint mark!
5. Should I clean my old nickel to increase value?
Never clean coins! Cleaning reduces their value significantly.
Final Thoughts
Wartime Jefferson nickels are fascinating pieces of history with real collector value. While most are worth a modest premium, rare varieties in top condition can be worth thousands. If you’ve inherited old coins or find one in circulation, take a closer look—you might be holding a small fortune!
Have you ever found a silver wartime nickel? Share your story in the comments!