Silver War Nickels: History, Composition & Collector Value
Published by FindRareCoins.com
What Are Silver War Nickels?
Silver War Nickels refer to a special subset of Jefferson Nickels minted between 1942 and 1945. Unlike standard nickels, these coins contain 35% silver, a wartime adjustment made by the U.S. Mint to conserve nickel for military use. The composition was changed to 56% copper, 35% silver, and 9% manganese, making these coins both historically significant and valuable to collectors.
Why Did the U.S. Mint Use Silver?
During World War II, nickel was a critical material used in the production of armor plating and artillery. To support the war effort, the U.S. Mint removed nickel from the five-cent coin and substituted it with silver. This change not only helped conserve resources but also created a unique coin that stands out in American numismatic history.
How to Identify a Silver War Nickel
Look for the Large Mint Mark
One of the easiest ways to identify a Silver War Nickel is by checking the reverse side of the coin. Above Monticello, you'll find a large mint mark—either P, D, or S. This was the first time the Philadelphia Mint used a mint mark on U.S. coinage, and it was done to help banks and collectors easily distinguish the silver versions for post-war removal and melting.
Check the Dates
Only Jefferson Nickels minted from 1942 to 1945 contain silver. Be cautious with 1942 nickels, as both silver and non-silver versions were produced that year. The silver version will always have the large mint mark above Monticello.
Mintages and Rarity
Over one billion Silver War Nickels were minted, making them relatively common in circulation. However, certain dates and mint marks are more sought after:
- 1943-P: Highest mintage, widely available
- 1944-D: Scarcer in high grades
- 1945-S: Popular among West Coast collectors
Collector Value and Silver Content
Each Silver War Nickel contains approximately 0.0563 troy ounces of silver. At current silver prices, that equates to roughly $1.30 in melt value. However, numismatic premiums can push prices higher, especially for coins in uncirculated condition or with full steps on Monticello.
Grading Matters
Coins graded MS-65 or higher by PCGS or NGC can fetch significantly more than melt value. Look for sharp details, minimal wear, and strong luster. Full step designations on Monticello are especially prized.
Tips for Collectors
- Use a magnifier to inspect mint marks and date clarity
- Store coins in acid-free holders to prevent tarnish
- Consider building a complete set from 1942–1945 with all mint marks
- Track silver prices to monitor melt value trends
Final Thoughts
Silver War Nickels are a fascinating blend of history, metallurgy, and numismatics. Whether you're a seasoned collector or just starting out, these coins offer an affordable entry point into silver coin collecting. Plus, they’re a tangible reminder of America’s wartime ingenuity and resourcefulness.
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