Only war nickels — Jefferson nickels struck from mid-1942 through 1945 — contain silver. They are 35% silver, 56% copper, and 9% manganese. Every other US nickel, from the Liberty Head (V nickel) through modern Jefferson nickels, is a copper-nickel alloy with zero silver content.
The Complete List of Silver Nickels
| Year | Mint marks | Composition | ASW per coin |
|---|---|---|---|
| 1942-P (large P) | P | 35% Ag, 56% Cu, 9% Mn | 0.0563 ozt |
| 1942-S (large S) | S | 35% Ag, 56% Cu, 9% Mn | 0.0563 ozt |
| 1943-P | P | 35% Ag, 56% Cu, 9% Mn | 0.0563 ozt |
| 1943-D | D | 35% Ag, 56% Cu, 9% Mn | 0.0563 ozt |
| 1943-S | S | 35% Ag, 56% Cu, 9% Mn | 0.0563 ozt |
| 1944-P | P | 35% Ag, 56% Cu, 9% Mn | 0.0563 ozt |
| 1944-D | D | 35% Ag, 56% Cu, 9% Mn | 0.0563 ozt |
| 1944-S | S | 35% Ag, 56% Cu, 9% Mn | 0.0563 ozt |
| 1945-P | P | 35% Ag, 56% Cu, 9% Mn | 0.0563 ozt |
| 1945-D | D | 35% Ag, 56% Cu, 9% Mn | 0.0563 ozt |
| 1945-S | S | 35% Ag, 56% Cu, 9% Mn | 0.0563 ozt |
Note: 1942-D with the old small mint mark on the right side of Monticello is not a war nickel — it uses the standard 75% copper, 25% nickel composition.
How Much Silver Is in a War Nickel?
War nickels weigh 5.00 grams, matching the standard nickel weight. The silver content:
- Gross weight: 5.00 g
- Silver fraction: 35% = 1.75 g silver
- Convert to troy ounces: 1.75 g ÷ 31.1034768 g/ozt = 0.05628 ozt ASW
Rounded: 0.0563 ozt ASW per coin.
At spot prices of October 7, 2026 ($60.73/ozt):
Melt value = 0.0563 × $60.73 = $3.42
Use the coin melt value calculator to compute today’s live figure.
How to Identify a War Nickel
The key indicator is the mint mark location and size.
On pre-war and post-war Jefferson nickels, no mint mark (Philadelphia) appears on the reverse, and D or S marks are small, positioned to the right side of Monticello.
On war nickels:
- A large mint mark (P, D, or S) appears on the reverse above the dome of Monticello.
- Philadelphia (P) nickels had never used a mint mark before — the large “P” on war nickels is historically unique.
Quick field check:
- Date between 1942 and 1945?
- Flip to the reverse. Is there a large letter above Monticello’s dome?
- If yes → war nickel (35% silver).
- If no, or if the date is 1942 with a small side mint mark → standard nickel (no silver).
Worked Example: A Roll of War Nickels
A nickel roll holds 40 coins. A full roll of war nickels:
| ASW per coin | 0.0563 ozt |
| Coins in roll | 40 |
| Total ASW | 2.252 ozt |
| Melt value at $60.73/ozt | $136.76 |
| Face value | $2.00 |
That roll melts to about 68 times its face value at October 7, 2026 spot prices.
War Nickel Melt Values at a Glance
| Quantity | ASW | Melt at $60.73/ozt |
|---|---|---|
| 1 war nickel | 0.0563 ozt | $3.42 |
| 20 war nickels ($1 face) | 1.126 ozt | $68.38 |
| 40 war nickels (1 roll) | 2.252 ozt | $136.76 |
| 200 war nickels ($10 face) | 11.26 ozt | $683.82 |
Reference: spot prices of October 7, 2026. The junk silver calculator applies a live price.
Why War Nickels Are 35%, Not 90%
The US Mint needed to conserve two metals simultaneously: nickel for the war effort and silver for monetary reserves. The solution was a compromise alloy. Manganese was added as a structural substitute for nickel to maintain the coin’s weight and durability. The 35% silver content was enough to give the coin some intrinsic value while reducing the military-critical nickel demand to zero.
The composition was authorized by the Wartime Coinage Act of 1942 (approved March 27, 1942). Production of silver-alloy nickels began in October 1942 and continued through the end of 1945. The standard copper-nickel composition was restored for 1946.
Are Any Other US Nickels Silver?
No. The complete list of US five-cent coins:
| Type | Years | Silver? |
|---|---|---|
| Flowing Hair half disme | 1792 | Yes (small test issue) |
| Flowing Hair / Draped Bust half dime | 1794–1805 | Yes — but these are half dimes, not nickels |
| Capped Bust half dime | 1829–1837 | Yes — half dimes, not nickels |
| Seated Liberty half dime | 1837–1873 | Yes — half dimes |
| Shield nickel | 1866–1883 | No (Cu-Ni) |
| Liberty Head (V) nickel | 1883–1912 | No (Cu-Ni) |
| Buffalo (Indian Head) nickel | 1913–1938 | No (Cu-Ni) |
| Jefferson nickel (standard) | 1938–1942, 1946–present | No (Cu-Ni) |
| Jefferson nickel (war) | 1942–1945 | Yes — 35% silver |
Half dimes (the 19th-century small silver five-cent coin) are silver but are not nickels — they are a separate denomination collected separately and priced well above melt value due to age and collector demand.
War Nickel vs. 90% Junk Silver Coins
War nickels trade in the junk silver market but at a different rate from 90% coins. Dealers usually price them separately because:
- 35% composition means lower silver per dollar of face value than 90% coins
- Their $0.05 face makes face-value pricing awkward for large lots
- Manganese toning (common on war nickels) is visually distinctive but does not affect silver content
| Coin | ASW | Melt at $60.73/ozt | Face |
|---|---|---|---|
| War nickel | 0.0563 ozt | $3.42 | $0.05 |
| Silver dime | 0.0723 ozt | $4.39 | $0.10 |
| Silver quarter | 0.1808 ozt | $10.98 | $0.25 |
| Silver half (90%) | 0.3617 ozt | $21.97 | $0.50 |
War nickels contain less silver per coin than any 90% denomination but are still genuine silver. See what is junk silver for how they fit into the broader silver-coin market.