Nickels, the five-cent coin of United States currency, were made with a composition of 75% copper and 25% nickel from 1866 to 1964. However, for a period in the mid-20th century, the composition of nickels was changed to include some silver.
When were nickels first introduced?
The first nickels were introduced in 1866, when the Nickel Act of 1865 authorized the minting of a new five-cent coin. These original nickels were referred to as Shield nickels, named after the design on the front (obverse side) of the coin which featured a shield.
The composition of the early nickels from 1866 to 1864 was 75% copper and 25% nickel with no silver content. This gave the coins their distinctive silvery appearance which led to the coin being named “nickels”.
When did nickels start containing silver?
In 1942, the composition of nickels changed from the copper-nickel alloy that had been used since 1866, to a composition of 56% copper, 35% silver, and 9% manganese.
This change occurred because nickel was considered a strategic war material during World War II. The new silver alloy allowed the five-cent coin to retain a silvery color while reducing nickel content.
So the years 1942-1945 marked the only time in history that U.S. nickels contained silver.
Why was silver added to nickels?
There were a few key reasons why silver was added to the composition of nickels during World War II:
- Nickel shortage – Nickel was in high demand as a strategic material needed for the war effort. Adding silver to the nickels reduced reliance on nickel.
- Maintain silvery appearance – The U.S. Mint wanted to keep nickels looking silver-colored even with less nickel content. Adding 35% silver achieved this goal.
- Save costs – Silver was cheaper than nickel at the time, so replacing some nickel with silver brought down production costs for the mint.
- Public perception – Having a silvery, nickel-looking coin maintained public confidence in the nickels during wartime.
The silver version of the nickel only lasted until 1945, after which the composition reverted back to nickel and copper when nickel supplies improved and costs changed after the war.
When did nickels stop containing silver?
In 1946, with the war over, the composition of nickels returned to 75% copper and 25% nickel, with the silver content completely removed.
So the last year that regular circulation nickels contained silver was 1945. Any nickels dated earlier than 1946 will have silver, while 1946 and later nickels do not.
Key dates for wartime silver nickels
| Year | Nickel Composition |
|---|---|
| 1942-1945 | 56% copper, 35% silver, 9% manganese |
| 1946 | 75% copper, 25% nickel (no more silver) |
This table shows the composition of nickels during the key transition years when silver was added and later removed.
Do any nickels still contain silver?
Modern circulating nickels dated after 1945 do not contain any silver. The current nickel composition remains 75% copper and 25% nickel.
However, there are some collector nickels that have been minted since the 1940s that do contain some silver content:
- Silver wartime Jefferson nickels – Special proof and uncirculated Jefferson nickel sets issued in 1942-1945 were made from the wartime 56-35-9 copper-silver-manganese composition.
- 1976 Bicentennial quarters and nickels – The 1976 quarters and nickels with the dual date “1776-1976” were made of 40% silver to commemorate the bicentennial.
- Modern silver proof sets – The U.S. Mint has issued some special proof sets of modern circulating coins with enhanced silver content, although generally not as high as the wartime nickels.
So with the exception of these special issues, regular nickels in circulation since 1946 do not contain any silver.
Why did nickels stop having silver in them?
There were a few key reasons why silver content was removed from nickels in 1946 and not retained beyond the wartime period:
- Cost – The price of silver had risen after the war ended, so replacing silver with cheaper nickel brought the minting costs back down.
- Nickel surplus – With war demand gone, there was now an abundant surplus of nickel available for coin production.
- Uniformity – Having a single standard nickel composition simplified the minting process.
- Durability – Nickel was more durable than silver in coinage, keeping coins in circulation longer.
So the return to the original nickel and copper alloy in 1946 was driven by post-war conditions of cost, materials availability, and manufacturing efficiency.
Are wartime silver nickels valuable?
Wartime silver nickels dated 1942-1945 are highly valued by collectors and numismatists today. There are a few reasons for their increased value:
- Scarcity – Far fewer nickels were minted during the war years compared to normal peacetime production. Lower mintages make silver wartime nickels more rare.
- Silver content – The silver alloy gives these nickels intrinsic value beyond their face value.
- Historical significance – The unique composition represents an important part of U.S. history and wartime mobilization.
- Special editions – There were also lower mintage proof and uncirculated versions specially produced for collectors.
Here are some example values for common dated silver wartime nickels in typical circulated condition:
| Year | Mintage | setValue |
|---|---|---|
| 1942 | 79 million | $1.25 to $2 |
| 1943 | 271 million | $1 to $1.50 |
| 1944 | 119 million | $1 to $1.50 |
| 1945 | 119 million | $1 to $1.50 |
The lower mintage 1942 nickels are the most valuable, worth around $2 if in lightly circulated condition. All the silver nickels are worth a premium over face value because of their silver content and historical significance.
Finding silver wartime nickels
The best way to find silver wartime nickels is by checking any old rolls or collections of nickels you have for dates prior to 1946. You can also search through pocket change – any nickels dated 1942-1945 have a good chance of being silver!
Other places to look include checking grandparents’ coin jars, bank coin rolls, vintage vending machines, and estate sales. The silver nickels are out there in circulation, mixed in with modern nickels.
You can separate the potential silver nickels out based on the 1942-1945 dates, then verify their composition by looking for the large mint mark over the Monticello dome on the reverse. The mint marks indicating silver composition are:
- P – Philadelphia
- D – Denver
- S – San Francisco
Finding a few silver wartime nickels in a coin roll hunt or when searching pocket change can certainly make your day!
Conclusion
Nickels had a brief but interesting period of containing silver during the war years of 1942-1945. With silver prices rising and nickel no longer in shortage, standard nickel and copper composition returned in 1946 and remains the standard today.
While regular nickels haven’t had silver since 1945, the wartime silver nickels remain popular and valuable collectibles today thanks to their unique history, silver content, and lower mintages. Discovering a wartime nickel when coin roll hunting or in circulation is an exciting find!
