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The War Nickels, issued during World War II, are a significant part of American numismatic history. These coins were minted between 1942 and 1945, primarily to aid the war effort. During this time, the United States faced a shortage of precious metals due to the demands of the war, and as a result, the composition of the nickel was altered. The United States Mint began producing the War Nickel, which replaced the traditional composition of 75% copper and 25% nickel with 56% copper, 35% silver, and 9% manganese. This change was made to conserve nickel for military purposes, as the demand for nickel in military equipment, such as armor plating and ammunition, had drastically increased.
The War Nickels are easily recognizable by their distinctive silver content, which set them apart from the standard circulating nickels of the time. Although the coins continued to feature the iconic Jefferson design on the obverse, the change in metal composition marked a unique moment in U.S. coinage. The obverse of the coin features a portrait of Thomas Jefferson, designed by artist Felix Schlag. Jefferson’s profile, facing to the right, is encircled by the inscriptions “LIBERTY” and the year of minting, with the word "IN GOD WE TRUST" above. The reverse of the coin features a modified depiction of Monticello, Jefferson’s home in Virginia. The design has the word "MONTICELLO" on a banner underneath the building and the denomination “5 Cents” above it. It is important to note that the reverse of the War Nickels also includes a large mintmark above Monticello, indicating where the coin was produced. If the coin was minted in Philadelphia, it would bear no mintmark, whereas coins from Denver would feature a “D,” and those from San Francisco would feature an “S.”
The reason for the change in metal composition during World War II was primarily due to the need to conserve nickel, copper, and other metals for military use. As part of the war effort, the U.S. government asked its citizens to donate scrap metal, and the mint’s decision to switch the coin’s composition was part of that larger effort. This switch in metal composition resulted in a distinctive look and feel for the War Nickels. The silvery appearance, due to the higher silver content, is one of the key features that set these coins apart from others of the era. The inclusion of silver also added intrinsic value to the coins, especially as silver prices increased in the years following the war. As a result, the War Nickels became not only a popular coin for circulation but also a sought-after item for collectors. The transition to silver was only temporary, and after the war ended, the U.S. Mint returned to the original copper-nickel alloy for the production of regular circulating nickels.
The mintage of War Nickels varied between the years they were produced. In total, over 1.2 billion War Nickels were minted across the three years from 1942 to 1945. The year 1943 saw the highest mintage, with over 270 million coins struck. The coins from 1942 and 1945 had lower mintages, with 1942 seeing approximately 49 million minted and 1945 seeing about 118 million coins produced. The War Nickels were made in three different minting locations: Philadelphia, Denver, and San Francisco. While all three mint facilities produced the coins, the San Francisco mint was notable for its distinct “S” mintmark, which is often a key detail for collectors. The 1942-S, 1943-S, and 1944-S War Nickels are generally considered to be the most popular among collectors, and they tend to be more valuable due to their lower mintage figures and relative scarcity compared to other dates in the series. The mintage of these coins, while large compared to other coinage types, was still limited in comparison to other denominations of the time, such as the penny and dime.
War Nickels, like many other coins from this era, were heavily circulated and show signs of wear and tear from use in everyday transactions. The coins were made to be used, and their high mintage figures meant that they were commonly found in pocket change and through everyday commerce during the war years and in the decades that followed. As a result, the condition of the War Nickels can vary widely, from heavily worn examples to coins that are in relatively good shape for their age. The circulated 4000-piece lot of War Nickels represents a typical group of coins from this era that have been passed through many hands and show signs of wear. Coins in this lot might show various degrees of wear, from light scratching to more prominent signs of handling. The design elements, particularly on the obverse, may appear softened, and the fine details in Jefferson's portrait may be difficult to discern on some examples. The reverse may also show signs of wear, especially on Monticello and the surrounding inscriptions.
Despite being circulated, War Nickels remain highly collectible due to their historical significance and unique composition. Coins in better condition, such as those graded Fine or Very Fine, may still exhibit relatively clear features and offer more detailed representations of Jefferson’s profile and Monticello. It is worth noting that the condition of the coin plays a large role in its market value. Coins that are in Extremely Fine (XF) or higher grades can command a premium price due to their relatively good preservation despite years of circulation. Additionally, the higher silver content of the War Nickels compared to other standard nickels of the era has given the coins intrinsic value beyond their face value, particularly as silver prices have fluctuated over time.
War Nickels are highly valued by collectors not just because of their historical significance but also because they are part of a broader story of wartime American coinage. They serve as a reminder of the resourcefulness and resilience of the nation during a time of global conflict. The coin’s design, featuring Jefferson and Monticello, also reinforces the national identity and pride that defined the U.S. during the 1940s. The fact that these coins were used by ordinary citizens during the war makes them particularly meaningful to collectors and historians alike.
Today, the War Nickels are cherished as part of the American numismatic legacy. A circulated lot of 4000 pieces offers a snapshot of history—coins that were used in the daily transactions of a nation at war. Whether preserved for their metal content or collected for their historical value, War Nickels remain a popular and important part of the American coinage system.