War Nickels
Definition: The United States of America declaration of war against the Axis Powers in January of 1942 called for critical war materials to be stockpiled. One of those materials — nickel — was used in the making of the Jefferson five-cent piece. On March 27, 1942, with authorization from Congress, the material composition of the five-cent piece was changed from 75% copper / 25% nickel to 56% copper/ 35% silver / 9%manganese.
From 1965 to 1967 it was illegal to melt any of the 90 percent silver coins but the lawmakers ignored the war nickels, apparently assuming that their 35 percent silver wasn’t worth bothering with. The smelters took advantage of this loophole and melted millions of them, right along with a lot of 90 percent silver that was claimed to be from Canadian coins. 35% Silver War Nickel - Average Condition. $1.34 35% Silver War Nickel. 35% Silver War Nickel - Roll (40 Qty) 35% Silver War Nickel - Average Condition. Silver War Nickels Now Available from Money Metals Exchange! Supplies of nickel - a strategic metal (silver nickels) - grew short during war time of World War II. The metal was crucial for the manufacture of certain weapons and military equipment, and the shortage prompted changes in US coinage for bullion coins. As nickel was a strategic war material during World War II, nickels coined from 1942 to 1945 were struck in a copper-silver-manganese alloy which would not require adjustment to vending machines.
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In October of 1942 this new alloy was first used in the striking of nickels. Along with this change of composition, the mintmark was made larger and placed on the reverse of the coin over Monticello. For the first time the “P” mintmark was used to designate coins struck at the Philadelphia Mint.
The Denver Mint had completed its allotted run of nickels before the change had been made. In 1942, the San Francisco and the Philadelphia Mints were the only mints to strike the new alloy Jefferson nickels, nicknamed “War nickels”.
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With the Philadelphia mint striking both new and old-alloy nickels, two versions appear from that mint in that year; one without a mintmark and the other with the P-mintmark on the reverse of the coin.
The above images show the location of the mintmark above Monticello on the “war nickels”. The mintmark in prior years had been placed to the right of Monticello, with the exception of coins struck by the Philadelphia mint which did not have a mintmark.
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Images are courtesy of Heritage Auctions.