Silver War Nickels
1942–1945 • 35% Silver • Large Mint Mark Above Monticello
The History of the Silver War Nickel
The silver war nickel represents one of the more fascinating byproducts of America's World War II home-front economy — a temporary composition change to the Jefferson nickel driven not by any monetary policy consideration, but by a direct wartime material shortage. Nickel, the metal that normally comprised 25% of the standard five-cent piece, was classified as a strategic war material in 1942 due to its critical role in producing armor plating and other military hardware, making its use in civilian coinage an unaffordable luxury during the height of the war effort.
In response, Congress authorized a temporary composition change in October 1942, replacing the standard copper-nickel alloy with a wartime formula of 56% copper, 35% silver, and 9% manganese — a composition that, notably, contained no nickel at all despite the coin's continued face value and denomination name. This wartime alloy was struck from mid-1942 through the end of 1945, after which the Mint reverted to the standard copper-nickel composition once the strategic nickel shortage eased with the war's conclusion, making silver war nickels a genuinely distinct and historically significant three-and-a-half-year chapter within the broader Jefferson nickel series.
How to Identify a Silver War Nickel
Identifying a silver war nickel is refreshingly straightforward compared to many other coin varieties, thanks to a deliberate design change the Mint made specifically to help the public and merchants distinguish the wartime silver alloy from standard nickels for eventual sorting and recall purposes. War nickels feature a large mint mark placed directly above Monticello's dome on the reverse — P (Philadelphia), D (Denver), or S (San Francisco) — a strikingly different placement from the small mint marks used on standard nickels, and notably, this wartime period marked the first time in U.S. history that the Philadelphia Mint used a "P" mint mark on any circulating coin, since Philadelphia coins had traditionally borne no mint mark at all up to that point.
This large, prominently placed mint mark makes war nickels genuinely easy to spot at a glance once you know what to look for — no magnification or specialized reference is needed to distinguish a 1942–1945 war nickel from a standard-composition nickel of the same general era, since the visual difference is immediately obvious to anyone who knows to look above Monticello's dome rather than to the side of the building, where standard nickel mint marks are placed.
Wartime Necessity
Nickel was reclassified as a strategic war material in 1942, forcing a temporary composition change.
35% Silver Alloy
56% copper, 35% silver, 9% manganese — a composition containing no nickel at all despite the coin's name.
Large Mint Mark Above Monticello
The defining identification feature — P, D, or S placed prominently above the dome, unlike any other nickel.
First "P" Mint Mark
1942 marked the first time Philadelphia coinage ever carried a mint mark of any kind.
1942–1945 Only
A brief, historically significant three-and-a-half-year window within the broader Jefferson nickel series.
Return to Standard Alloy
The Mint reverted to standard copper-nickel composition in 1946 once wartime shortages eased.
Key Dates and Notable Varieties
The silver war nickel series is relatively short and doesn't contain the dramatic key-date rarities found in some other U.S. series, but it does have genuinely important dates and varieties for specialist collectors. The 1942-P is significant as the first-year issue of the wartime silver composition, struck only in the latter half of 1942 after the mid-year composition change took effect, giving it a comparatively lower mintage than the years that followed and making well-preserved first-year examples a popular collecting target.
The 1943/2-P overdate is the series' most notable variety — created when a 1942-dated working die was re-punched with 1943 digits, leaving detectable remnants of the underlying "2" visible beneath the "3" under magnification, similar in nature to other famous American overdate varieties. This variety commands a meaningful premium over common-date war nickels and is actively pursued by variety specialists. Beyond these specific highlights, the series overall is considered relatively accessible, with most dates and mint marks available in respectable quantities even in higher circulated grades.
Value Guide
Values shown are approximate market ranges for authentic examples in collectible condition. Silver melt value provides a meaningful floor across the entire series given the coin's 35% silver content.
| Date / Type | Mint | Mintage | Circulated Value | Value Range | Shop |
|---|---|---|---|---|---|
| 1942-P (first year) | Philadelphia | 57,873,000 | $1.50–$3 | $1.50–$40+ | eBay → |
| 1943/2-P Overdate KEY | Philadelphia | Included in P mintage | $50–$100 | $50–$800+ | eBay → |
| 1943-P (common) | Philadelphia | 271,165,000 | $1.50–$3 | $1.50–$25+ | eBay → |
| 1943-D | Denver | 15,294,000 | $1.50–$3 | $1.50–$40+ | eBay → |
| 1944-S | San Francisco | 21,640,000 | $1.50–$3 | $1.50–$30+ | eBay → |
| 1945-P (final year) | Philadelphia | 119,408,100 | $1.50–$3 | $1.50–$25+ | eBay → |
Collecting Silver War Nickels
Silver war nickels offer an unusually accessible and straightforward entry point into both silver coin collecting and U.S. wartime numismatics, given the series' short duration (making a complete date-and-mintmark set genuinely achievable), the coin's easy visual identification, and generally affordable prices even for a complete set given the substantial mintages across most dates. This accessibility, combined with the coin's genuine tie to a specific, historically significant chapter of American history, makes silver war nickels a popular starting point for new collectors and a satisfying, quickly completable project for more experienced collectors between larger undertakings.
Given their meaningful silver content (0.05626 troy ounces per coin, roughly one-sixth the silver of a standard silver dime by weight), silver war nickels are also actively traded as "junk silver" alongside other pre-1965 90% silver coinage, even though their actual silver percentage is lower. PCGS and NGC both grade war nickels, though certification is less commonly pursued for this series given its generally modest values outside of exceptional mint state or the 1943/2-P overdate variety, where certification does add meaningful value confidence.
Where to Buy Silver War Nickels
eBay — Silver War Nickels
The largest marketplace for war nickels across all dates and mints, from common-date rolls to the 1943/2-P overdate variety.
Shop War Nickels →eBay — 1943/2-P Overdate
Search specifically for the series' most notable variety — the doubled-date 1943/2-P overdate from specialist dealers.
Shop Overdate Variety →JM Bullion
Silver war nickels are available through bullion dealers as a distinct silver-content coin, sometimes sold alongside other junk silver by weight.
Shop JM Bullion →Kitco
Live silver spot pricing alongside pre-1965 silver U.S. coinage — useful for tracking melt value on common-date war nickels.
Shop Kitco →Money Metals Exchange
Competitive pricing on 35% silver war nickels sold by weight, alongside other pre-1965 silver U.S. coinage.
Shop Money Metals →SD Bullion
Transparent, spot-based pricing on silver war nickels sold as junk silver by weight.
Shop SD Bullion →Silver Gold Bull
International bullion dealer carrying 90% and 35% silver U.S. coinage with competitive pricing and worldwide shipping options.
Shop Silver Gold Bull →FRC Coin Price Guide
Research certified values for war nickels and other U.S. denominations before you buy or sell.
View Price Guide →Related Coin Guides
Frequently Asked Questions
Why did the U.S. Mint make nickels out of silver during WWII?
Nickel metal was classified as a strategic war material in 1942 due to its essential role in producing armor plating and other military hardware, making its use in civilian coinage an unaffordable luxury during the height of the war effort. In response, Congress authorized a temporary alternative composition — 56% copper, 35% silver, and 9% manganese — that notably contained no nickel at all, freeing up that critical metal for the war effort while still allowing five-cent coin production to continue.
How do I identify a silver war nickel?
Look for a large mint mark (P, D, or S) placed directly above Monticello's dome on the reverse — this deliberate design change was made specifically to help the public distinguish wartime silver nickels from standard nickels. This is a dramatically different placement than standard nickels, which carry a small mint mark to the side of the building, making war nickels easy to identify at a glance once you know where to look. War nickels were struck only from mid-1942 through 1945.
How much silver is in a war nickel?
Each silver war nickel contains approximately 0.05626 troy ounces of pure silver — about one-sixth the silver content of a standard 90% silver dime by weight, reflecting the war nickel's smaller size and lower (35%) silver percentage. Despite this more modest silver content compared to dimes, quarters, and half dollars of the same era, war nickels still carry genuine bullion value well above their five-cent face value at current silver prices, and are commonly collected and traded specifically for this silver content.
What is the 1943/2-P overdate variety?
The 1943/2-P is a doubled-date variety created when a leftover 1942-dated working die was re-punched with 1943 digits at the Philadelphia Mint, leaving faint remnants of the original "2" visible beneath the "3" under magnification. This type of overdate error — caused by mint workers reusing dies for cost efficiency — creates a genuinely distinct and actively collected variety, commanding a meaningful premium over common-date war nickels from the same year.
Why was 1942 the first year Philadelphia coins had a mint mark?
Before 1942, the Philadelphia Mint's coins traditionally carried no mint mark at all, since Philadelphia was considered the Mint's primary, default facility. When the large mint mark was added above Monticello's dome specifically to help distinguish the new silver war nickel composition from standard nickels, the Mint applied this new marking convention to all three producing facilities — Philadelphia, Denver, and San Francisco — including Philadelphia for the first time, using a "P" that hadn't previously appeared on any circulating U.S. coin.
Are silver war nickels a good starting point for new collectors?
Yes — the series' short three-and-a-half-year duration, easy visual identification, and generally affordable prices (most common dates cost just a few dollars above silver melt value) make silver war nickels one of the most accessible entry points into both silver coin collecting and WWII-era American numismatics. A complete date-and-mintmark set is a genuinely achievable goal for most collectors, providing a satisfying, relatively quick collecting project with real historical significance attached.
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