The 1942-1945 Silver Jefferson Nickels, also known as “Wartime Nickels,” hold historical significance and collector interest due to their unique composition and the context in which they were minted.
These coins were produced during World War II when nickel, a strategic metal for the war effort, was needed for military purposes. As a result, the U.S. Mint altered the composition of these nickels to include 35% silver, 56% copper, and 9% manganese.
Why These Nickels Are Special
Wartime Nickels are distinct because of their composition change and the introduction of a large mintmark above Monticello on the reverse side.
This was the first time a mintmark was used on coins produced in Philadelphia. The inclusion of silver in these coins makes them valuable not only for their numismatic interest but also for their melt value.
Key Details and Specifications
- Composition: 56% Copper, 35% Silver, 9% Manganese
- Weight: 5.00 grams
- Diameter: 21.2 mm
- Mintmarks: P (Philadelphia), D (Denver), S (San Francisco)
- Edge: Plain
- Designer: Felix Schlag
Current Value of 1942-1945 Silver Jefferson Nickels
The value of these nickels depends on their condition, rarity, and specific mintmark. As of September 2024, the melt value of these coins is approximately $1.79, calculated based on the current silver price of $31.85 per ounce. However, their numismatic value can be significantly higher, especially for coins in uncirculated or proof condition.
Values of 1942-1945 Silver Jefferson Nickels
| Year | Mint Mark | Mintage | Condition (Very Fine to MS-65) | Estimated Value ($) |
|---|---|---|---|---|
| 1942 | P | 57,873,000 | $1.00 – $95.00 | $1.00 – $4.94 |
| 1942 | S | 32,900,000 | $1.00 – $200.00 | $2.42 – $5.59 |
| 1943 | P | 271,165,000 | $1.00 – $70.00 | $2.42 – $5.59 |
| 1943 | D | 15,294,000 | $1.00 – $70.00 | $2.12 – $6.80 |
| 1943 | S | 104,060,000 | $1.00 – $100.00 | $2.12 – $5.59 |
| 1944 | P | 119,150,000 | $1.00 – $200.00 | $2.12 – $5.59 |
| 1944 | D | 32,309,000 | $1.00 – $50.00 | $2.12 – $5.59 |
| 1944 | S | 21,640,000 | $1.00 – $400.00 | $2.12 – $6.22 |
| 1945 | P | 119,408,100 | $1.00 – $4.00 | $2.12 – $4.94 |
| 1945 | D | 37,158,000 | $1.00 – $50.00 | $2.12 – $4.34 |
| 1945 | S | 58,939,000 | $1.00 – $100.00 | $2.12 – $4.34 |
Factors Affecting Value
- Condition: Coins in mint or proof condition with Full Steps (FS) designation are valued higher.
- Rarity: Specific dates and mintmarks, like the 1943/2 P overdate, can fetch prices up to $2000 in high grades.
- Demand: Collector interest in complete sets or rare variations significantly affects prices.
Conclusion
The 1942-1945 Silver Jefferson Nickels are a fascinating series that combines historical context with numismatic interest. Their values range from around $1.50 to over $4 for common dates in circulated condition, with rare variations and high-grade examples fetching much more.
Collectors often seek these coins for their unique composition and the story they tell about a critical time in U.S. history.
FAQs
1. Why were these nickels made with silver?
The U.S. Mint used silver instead of nickel due to wartime demands for nickel in the production of military equipment.
2. How can I identify a wartime silver nickel?
Look for a large mintmark above Monticello on the reverse side of the coin. This mintmark indicates the coin was minted during the war years with the silver composition.
3. What does Full Steps (FS) mean?
Full Steps refers to the distinct visibility of all steps on Monticello. Coins with Full Steps command a premium due to their sharp details.
4. What is the highest value for a 1942-1945 silver nickel?
The highest values are seen in the 1943/2 P overdate, which can reach up to $2000 depending on its condition.
5. Are all 1942 nickels made of silver?
No, only those minted later in 1942 with the wartime composition contain silver. Earlier 1942 nickels still have the standard composition of 75% copper and 25% nickel.
References
- Coinflation
- NGC
- CoinValues
- Stack’s Bowers
- Jefferson Nickel