You want to put your money somewhere that’s safer than banks, and you know you have options. Silver nickels may not be the first thing that comes to mind — but they’re worth knowing about.
These coins were first minted during World War II. They’re made with a bit of silver and come with an interesting history that gives them value beyond their five-cent face.
If you’re interested in adding precious metals to your assets, silver nickels certainly offer something unique. Not only do they contain silver, but they also carry a little slice of American history. For many collectors, that’s a winning combination.
So, let’s walk through what these silver nickels are all about and why they might be a good addition to your collection or stash of precious metals. And if you want to acquire other silver coins to boost your portfolio, be sure to stay tuned. We’ll share how you can start right away.
What To Know About Silver Nickel Years
Back in 1942, the United States was in the thick of World War II. Metals like nickel were needed for military equipment — think tanks, armor, and artillery. As a result, Congress approved a change in the metal makeup of nickels.
Instead of the usual copper and nickel blend, the Mint started producing coins with a mix of 35% silver, 56% copper, and 9% manganese.
The result? The U.S. Mint produced silver nickels from 1942 to 1945.
These coins became known as “War Nickels.” They’re not pure silver, but they contain enough of it to make them valuable in today’s world of physical assets.
Silver nickels were made for a specific purpose back in the day, but now they’ve got collectors and precious metals enthusiasts paying attention to their silver content. This makes them a sought-after part of the collecting game.
In fact, you could be sitting on some right now and not even know it. Whether you’re ready to dig into your own stash or you want to start acquiring silver nickels to boost your portfolio, you first need to know what to look for.
How To Identify Silver Nickels
Digging through a pile of old nickels? It’s certainly a great place to start. But how do you know which ones are silver? It’s a lot simpler than you might think. First, check the year.
1942 Nickels
Some nickels from this year are made of silver, and some aren’t. The silver ones are known as “Type 2” nickels, and you’ll know them by a distinct mint mark (P, D, or S) above Monticello on the reverse side of the coin.
1943 to 1945 Silver Nickels
Every nickel minted in these years contains 35% silver, and they all feature a large mint mark (again, P for Philadelphia, D for Denver, or S for San Francisco) right above Monticello on the reverse.
The mint mark makes all the difference. If you see a large P, D, or S above Monticello, you’ve got a silver nickel. That’s because these marks were added to make pulling these coins out of circulation easier after the war. However, that removal never happened — they’re still floating around today.
How Much Are Silver Nickels Worth?
Here’s where things get interesting. Silver nickels may have been made out of necessity, but they’ve turned into something people value for different reasons. So how much are they worth?
Melt Value
Let’s start with the melt value. Since these nickels are 35% silver, each one contains about 0.05626 troy ounces of silver. Depending on the current price of silver, the melt value of a silver nickel sits around $1.50.
Numismatic Value
But wait, there’s more. The real value for collectors comes from a coin’s condition and rarity. For example, a silver nickel in mint condition, especially with clear details like the “Full Steps” on Monticello, can fetch thousands of dollars. In 2021, a 1945-D Jefferson nickel in pristine condition sold for $25,000 at auction.
For most of us, though, silver nickels are worth more for their melt value and historical appeal. Still, if you come across a silver nickel in great condition, it could be worth more than just the silver it contains.
Why Are Silver Nickels Important?
If you’re thinking about adding precious metals to your assets, you’ve probably already looked into gold coins and bars. But silver nickels are a little different — they’re a piece of American history, a wartime relic, and they carry real silver value.
Now, we’re not suggesting you replace your gold coins with nickels. That wouldn’t make sense. But these coins can complement your precious metals portfolio. They’re not as flashy as a gold coin, but they come with their own unique value.
Plus, they’re easy to find if you know what you’re looking for, and they’re affordable compared to larger silver coins or bars.
What To Know About Grading Silver Nickels
Like all coins, the value of your silver nickel depends a lot on its condition. Coin collectors use a grading scale to assess this, and the better condition your coin is in, the more it’s worth.
Here’s a quick rundown:
Poor to Good Condition
These coins have seen better days. They’ve been circulated, show plenty of wear, and might only be worth their melt value. Circulated coins, regardless of the type, are almost always going to show the most wear, and that often equates to a poor to good condition.
Very Fine to Extremely Fine
Coins in this range are in better shape. They’ve been circulated, but they still have most of their original detail. You’ll be able to see Jefferson’s face clearly, and the steps of Monticello will still be visible.
Mint State (Uncirculated)
These are the top-tier silver nickels. They’ve never been in circulation, so they retain their full detail and luster. A mint state silver nickel, especially one with “Full Steps” (where all five steps of Monticello are visible), is highly sought after by collectors.
The good news is that even if your silver nickel is a little worn, it still has value thanks to the silver content. That means you’ve got something on your hands that boosts your portfolio.
Adding Silver Nickels to Your Precious Metals
If you’re building a stash of physical metals, silver nickels are an easy, affordable way to add some variety to your holdings. They’re not the same as adding a bar of gold or an American silver eagle coin, but they give you access to silver in a form that’s easy to recognize and trade.
Plus, there’s something satisfying about holding a piece of history in your hand. These coins were minted during one of the most challenging times in American history, and now, they offer both a connection to the past and a way to hold real, tangible value.
While silver nickels might not be the most obvious choice when you think about adding precious metals to your assets, they’ve got a lot going for them. From their silver content to their historical significance, these coins offer something unique.
If you’re already buying physical gold and silver, why not keep an eye out for silver nickels? They’re affordable, easy to identify, and they hold real value — whether you’re a collector or someone who’s looking to move away from traditional banking and put your money into something more reliable.
So, next time you come across an old nickel, check the date and the mint mark. You might just have a silver nickel on your hands — worth far more than its face value and a small but meaningful addition to your precious metals assets.
Protect Your Wealth With Precious Metals
At American Hartford Gold, we understand the need to feel secure about where your money is going. In times like these, with banks facing uncertainty and digital assets raising questions, physical silver and gold offer something solid. And that means peace of mind knowing you have control over your wealth.
When you add precious metals to your portfolio, you’re not relying on someone else to hold or manage your money. You’re taking control, protecting your hard-earned savings from the volatility of traditional banking and financial markets.
Our team is here to help you acquire the silver or gold that works best for your financial goals. Whether you want to set up a Gold IRA or simply purchase physical coins and bars, we make the process easy and straightforward.
So be sure to check out our silver coin catalog. There, you’ll find a vast selection of silver coins, and that includes silver nickels. It’s time to secure your future with something that has stood the test of time.
Contact American Hartford Gold and discover how easy it is to add gold to your assets. Our team is here to guide you through every step.
Sources:
1943-D 5C (Regular Strike) Jefferson Nickel | PCGS CoinFacts
