During World War II, nickel metal was in high demand for war materials. To conserve nickel, the U.S. Mint changed the alloy for Jefferson nickels minted from 1942 to 1945. These “War Nickels” were minted using an alloy of 56% copper, 35% silver, and 9% manganese instead of the regular 75% copper / 25% nickel composition.
Another distinguishing feature: War Nickels have a large mint mark placed above Monticello on the reverse of the coin.
Composition, Mintage & Variants
| Feature | Details |
|---|---|
| Composition | 56% copper, 35% silver, 9% manganese |
| Silver Content | ~0.05625 troy ounces (≈1.75 grams) of silver per coin. |
| Mints & Output in 1943 | Philadelphia: ~271,165,000; Denver: ~15,294,000; San Francisco: ~104,060,000 |
| Mint Mark Location | Large mint mark above Monticello on reverse during war years (P, D, or S) |
Values: What Collectors Pay for 1943 War Nickels
Even though millions of these coins were minted, condition and rarity matter a lot. Values vary enormously depending on grade, mint, and whether the coin shows special attributes.
| Condition / Variant | Typical Value (Circulated) | Uncirculated (High Grade) / Error / “Full Steps” |
|---|---|---|
| 1943-P (regular circulated) | ~$1 to $60 | |
| 1943-D (Denver) circulated | ~$2 to $10 | |
| 1943-S (San Francisco) circulated | ~$1 to $6; more for nicer examples | |
| Uncirculated / Mint State (MS65-MS68) | Can run into hundreds to thousands of dollars; some “Full Steps” examples fetch $5,000-$12,000+ | |
| Rare Errors / Copper Planchet Mistakes | Very high values depending on authenticity and condition; tens to potentially over $10,000+ |
How to Recognize a Valuable 1943 War Nickel
- Check the mint mark: Look above the Monticello dome. If you see P, D, or S there (larger than usual), that indicates a war nickel.
- Use a magnet test: Regular silver/copper/manganese war nickels are not magnetic, while steel or plated fakes may respond to a magnet.
- Inspect condition: Details like “Full Steps” (clear steps on Monticello’s reverse), sharp strike, little wear, good luster increase value significantly.
- Watch for errors: Varieties like doubled dies, off-center strikes, or plating errors can be very valuable. Authentication by a grading service adds credibility.
Why These Coins Are More Valuable Than Others
- Intrinsic Silver Value & Metal Shift: The war composition adds real silver value, particularly when silver prices are higher.
- Historical Significance: Pieces minted during wartime, with altered materials, large mint marks, etc., have strong appeal among collectors.
- Condition-Scarcity Premiums: Even though many war nickels exist, high-grade examples or those with special features (FS, errors) are few in comparison.
- Market Demand: As numismatics (coin collecting) grows, demand for war nickels solidifies, pushing prices upward for prized specimens.
The 1943 War-Era Jefferson Nickel is far more than a five-cent coin: it’s a piece of American history with real silver in its alloy, distinctive features, and strong collector demand.
While most circulated copies aren’t worth a fortune, those in exceptional condition or with rare error traits can fetch thousands of dollars.
If you have one of these in your change, paying attention to mint mark, condition, and authenticity could turn a humble nickel into a valuable treasure.
FAQs
Are all 1943 Jefferson Nickels made with silver?
How much is a circulated 1943 nickel worth today?
Common circulated war nickels might sell for around $1 to $10, depending on mint and condition. Coins in uncirculated or high-grade condition, or with special traits like “Full Steps,” can sell for hundreds or thousands.
Could a mistake or error make my 1943 nickel much more valuable?
Absolutely. Errors like overdates, doubled dies, or mis-strikes (off-center) can add many thousands of dollars to value. Also, silver content and mint mark location matter. Getting coins graded/authenticated is key.
