War Nickel (Silver) Value
1942–1945 · 5¢ · 35% silver, 56% copper, 9% manganese
Value by Grade
| Grade | Est. Value |
|---|---|
| Poor (P-1) | $2.00 |
| Good (G-4) | $2.50 |
| Fine (F-12) | $3.00 |
| Uncirculated (MS-63) | $12.00 |
| Gem (MS-65) | $36.00 |
| Perfect (MS-70) | $180.00 |
Key Dates & Rare Varieties
| Date/Variety | Why It's Special | Value Range |
|---|---|---|
| 1942-P | First War Nickel — first P mintmark in US history | $3–$30 |
| 1943-P | 3/2 overdate variety exists | $3–$25 |
| 1945-P | Doubled die reverses known | $3–$20 |
Coin Specifications
- Designer
- Felix Schlag
- Years
- 1942–1945
- Denomination
- 5¢
- Composition
- 35% silver, 56% copper, 9% manganese
- Diameter
- 21.2 mm
- Weight
- 5 g
Quick Value
Where to Buy/Sell
War Nickel (Silver): History & Background
During World War II, nickel was classified as a critical war material needed for armor plating. The US Mint changed the Jefferson Nickel's composition to 35% silver, 56% copper, and 9% manganese from mid-1942 through 1945. War Nickels are identifiable by the large mintmark (P, D, or S) above Monticello on the reverse — the first time Philadelphia used a 'P' mintmark in US Mint history.
How to Grade a War Nickel (Silver)
Accurate grading is the single most important factor in determining a coin's value. A difference of just a few grade points can mean 10× or more in value. Examine the highest points of the design first — these are where wear appears earliest. For the finest grades, luster, strike quality, and surface preservation all matter. Professional grading by PCGS or NGC adds certainty and typically increases resale value. Read our complete grading guide →
What Affects War Nickel (Silver) Value?
Condition & Grade
The grade spread for War Nickel (Silver)s is dramatic: a common-date example jumps from $2.00 in Poor to $12.00 in Uncirculated — a 6× increase. Gem-quality MS-65 specimens can reach $36.00 or more. Even a single grade point difference at the upper end can double a coin's price.
Date & Mintmark
The War Nickel (Silver) series has 3 notable key dates. The 1942-P is valued at $3–$30, far above common dates. Mintmark location and variety (such as overdates or repunched marks) can multiply a coin's value significantly.
Precious Metal Content
With a composition of 35% silver, 56% copper, 9% manganese and a weight of 5g, the War Nickel (Silver) carries intrinsic metal value that sets a price floor. When silver prices rise, even heavily worn examples appreciate. The melt value provides downside protection that base-metal coins lack.
Strike Quality & Eye Appeal
Designed by Felix Schlag, the War Nickel (Silver) (21.2mm diameter) can exhibit varying strike quality across different mint facilities and years. Coins with full, sharp design details, original luster, and attractive toning trade at premiums of 20–50% above the same technical grade with average eye appeal.
Collector Notes: War Nickel (Silver)
The War Nickel (Silver) (1942–1945) holds a distinctive place in US numismatics. Designed by Felix Schlag, this 5¢ coin was struck in 35% silver, 56% copper, 9% manganese with a diameter of 21.2mm and weight of 5 grams. These physical specifications are essential for authentication — any deviation from these measurements is a red flag for counterfeits.
Collectors approaching the War Nickel (Silver) series should start by assembling a date-and-mintmark set in a consistent grade. Fine (F-12) offers a good balance of affordability and visual appeal for most dates, with clear design elements still visible. Budget roughly $3.00 per common date in Fine condition, then set aside a larger budget for the 3 key dates in the series.
For registry set collectors pursuing top grades, the War Nickel (Silver) in MS-65 or better represents a more significant investment at $36.00+ per coin. Population reports from PCGS and NGC show that the supply of certified high-grade examples is limited, and competition among registry set collectors has driven premiums for condition-census coins.
Before purchasing any War Nickel (Silver) valued above $100, we recommend reviewing our 2026 US Coin Values Quick Reference PDF ($2.99) which includes a complete grade-by-grade price breakdown and key date identification guide for this series.
War Nickel (Silver): Frequently Asked Questions
▶How much is a War Nickel (Silver) worth today?
A War Nickel (Silver) (1942–1945) is worth between $2.00 in Poor condition and $12.00 or more in Uncirculated condition. In the most commonly found Fine grade, expect around $3.00. Gem specimens graded MS-65 can reach $36.00 or higher. Values fluctuate with collector demand and the spot price of silver.
▶What is the most valuable War Nickel (Silver)?
The most valuable War Nickel (Silver) is the 1942-P — first war nickel — first p mintmark in us history. This date is valued at $3–$30 depending on grade and condition. Always have potentially valuable dates authenticated by PCGS or NGC before selling.
▶How do I grade a War Nickel (Silver)?
Grading a War Nickel (Silver) starts with examining the highest points of the design, where wear appears first. Look for remaining luster, sharpness of details, and surface marks. The Sheldon scale runs from 1 (Poor) to 70 (Perfect). For this series, the jump from Fine (F-12, worth ~$3.00) to Uncirculated (MS-63, worth ~$12.00) is significant. Professional grading by PCGS or NGC costs $20–$50 per coin and is recommended for coins that appear to be worth $100 or more. Our PDF guide ($2.99) includes a visual grading chart for this series.
▶Where is the best place to sell War Nickel (Silver)s?
For common-date War Nickel (Silver)s in circulated grades, local coin shops and eBay are practical options — expect 70–85% of retail value. For key dates or high-grade examples, Heritage Auctions or Stack's Bowers will reach the most serious buyers and typically achieve the strongest prices. PCGS or NGC certification is essential before consigning valuable coins to auction. For a detailed selling strategy, see our selling guide.
▶Are there error varieties of the War Nickel (Silver)?
Yes. Known War Nickel (Silver) errors include doubled die obverses and reverses, repunched mintmarks, off-center strikes, and die cracks. This series has notable varieties such as the 1943-P. Always examine coins under magnification to check for die doubling, especially on lettering and dates.
▶How can I tell if my War Nickel (Silver) is real?
Authentic War Nickel (Silver)s weigh 5 grams and measure 21.2 mm in diameter. Check the weight with a precision scale (digital scales accurate to 0.01g are available for under $20). The coin should be composed of 35% silver, 56% copper, 9% manganese. Counterfeit coins often fail the weight test, show seams on the edge, or have mushy design details. For valuable dates, always obtain PCGS or NGC authentication — the cost is minimal compared to the risk of buying or selling a counterfeit.
▶What affects the value of a War Nickel (Silver) the most?
The four biggest value drivers for War Nickel (Silver)s are: (1) Grade — the difference between Good and Uncirculated is $9.50 for common dates; (2) Date and mintmark — key dates like 1942-P command large premiums; (3) Silver spot price — sets a floor value for circulated examples; (4) Eye appeal — original surfaces, attractive toning, and strong strikes increase desirability among collectors.
▶How many War Nickel (Silver)s were made?
The War Nickel (Silver) was produced from 1942–1945. Mintage varied widely by year and mint — some dates had millions struck while key dates had far fewer. The scarce 1942-P is especially sought after. Check our full value table above for key dates and their relative scarcity.
▶Should I clean my War Nickel (Silver)?
Never clean a War Nickel (Silver) or any collectible coin. Cleaning removes the original surface and patina, which collectors prize — a cleaned coin can lose 50% or more of its value compared to an original, naturally toned example. Even coins that look "dirty" often have desirable original toning. If you must remove loose debris, hold the coin by its edges and gently rinse with distilled water. Our coin storage guide has more preservation tips.
▶Is the War Nickel (Silver) a good investment?
War Nickel (Silver)s in key dates and high grades have historically appreciated well. Common dates in circulated grades are affordable entry points and carry intrinsic silver value as a floor. For investment purposes, focus on PCGS/NGC-certified examples in grades of Fine or better, and prioritize key dates with low mintages. Our PDF Quick Reference Guide ($2.99) covers all War Nickel (Silver) dates and values to help identify the best opportunities.