US Coins

Rare 1942-1945 War Nickels Worth More Than You Imagine

Published

2 weeks ago

February 10, 2025

Sumi

Rare 1942-1945 War Nickels Worth More Than You Imagine

During World War II, the United States faced a critical shortage of nickel, a vital metal for wartime production. To conserve this resource, the U.S. Mint altered the composition of the five-cent coin, resulting in the 1942-1945 “war nickels.”

These coins, composed of 56% copper, 35% silver, and 9% manganese, not only played a crucial role in the war effort but have also become valuable collectibles today.

Understanding War Nickels

War nickels are distinguishable by their unique composition and a prominent mint mark above Monticello on the reverse side.

This mint mark indicates the coin’s silver content, setting them apart from standard nickels minted before and after this period.

Composition and Identification

The wartime composition of these nickels includes:

56% Copper
35% Silver
9% Manganese

The silver content is a key factor in their current value. Each war nickel contains approximately 0.0563 troy ounces of silver. As of February 10, 2025, the melt value of silver is approximately $1.81 per coin.

Mintage and Rarity

The mintage figures for war nickels vary by year and mint mark. Notably, the 1943-P “3 Over 2” variety is particularly rare and highly sought after by collectors.

Mintage Figures and Values of 1942-1945 War Nickels

Year	Mint Mark	Mintage	Numismatic Value Range (USD)
1942	P	57,900,600	$1.25 – $6.90
1942	D	13,938,000	$1.25 – $19.00
1942	S	32,900,000	$1.25 – $6.10
1943	P	271,165,000	$1.25 – $4.70
1943	D	15,294,000	$1.25 – $4.20
1943	S	104,060,000	$1.25 – $4.40
1944	P	119,150,000	$1.25 – $5.50
1944	D	32,309,000	$1.25 – $7.00
1944	S	21,640,000	$1.25 – $6.00
1945	P	119,408,100	$1.25 – $4.80
1945	D	37,158,000	$1.25 – $4.90
1945	S	58,939,000	$1.25 – $3.50

Note: Values are approximate and can vary based on coin condition and market demand.

Identifying Valuable Varieties

Certain varieties of war nickels are particularly valuable:

1943-P “3 Over 2”: This variety features a faint “2” visible beneath the “3” in the date, resulting from a die overdate.
1943-P Doubled Die Obverse: Known as the “Doubled Eye” nickel, it exhibits doubling in Jefferson’s eye.
1945-P Doubled Die Reverse: This variety shows doubling on the letters of “MONTICELLO” on the reverse.

Identifying these varieties requires careful examination and, often, magnification.

Grading and Condition

The condition of a coin significantly impacts its value. Coins are graded on a scale from 1 to 70, with higher grades commanding higher prices.

For example, a 1943-P “3 Over 2” nickel in MS-65 condition can be worth substantially more than one in lower grades.

Collecting and Investing

For collectors and investors, war nickels offer a tangible connection to history and the potential for appreciation in value. Due to their silver content, they also serve as a hedge against inflation and economic uncertainty.

The 1942-1945 war nickels are more than just currency; they are historical artifacts with significant value. Whether you’re a seasoned collector or a casual enthusiast, understanding these coins’ composition, rarity, and varieties can enhance your appreciation and investment in numismatics.