War Nickles 1942-1945

1942 - 1945 Silver Jefferson Nickel Value (United States)

U.S. MINT SPECIFICATIONS
Denomination: $0.05
Obverse Image: Thomas Jefferson, 3rd President of the United States and author of the Declaration of Independence.
Reverse Image: Monticello, Jefferson's mountaintop home in Virgina.
Metal Composition: 35% silver, 56% copper, 9% manganese
Total Weight: 5.00 grams

Comments: World War II prompted the rationing of many commodities. Nickel was highly valued for use in armor plating, and Congress ordered the removal of this metal from the five-cent piece, effective October 8, 1942. From that date, and lasting through the end of 1945, five-cent pieces bore the regular design but were minted from an alloy of copper, silver and manganese. It was anticipated that these emergency coins would be withdrawn from circulation after the war, so a prominent distinguishing feature was added. Coins from all three mints bore very large mintmarks above the dome of Monticello, and the letter 'P' was used as a mintmark for the first time on a U. S. coin.


Using the latest metal prices and the specifications above, these are the numbers required to calculate melt value:


$28.64 = silver price / ounce on Jun 15, 2012.
.35 = silver %
$3.4075 = copper price / pound on Jun 15, 2012.
.56 = copper %
$2990.00 = manganese price / ton on Jun 15, 2012.
.09 = manganese %
5.00 = total weight in grams
.0321507466 = ounce/gram conversion factor
.00220462262 = pound/gram conversion factor
1.0 × 10-6 = metric ton/gram conversion factor (see note directly below)

The NYMEX uses pounds to price copper and that means we need to multiply the metal price by .00220462262 to make the conversion to grams. The silver price is based in troy ounces and that means we need to multiply the metal price by .0321507466 to make the conversion to grams. The manganese price is based in metric tons and that means we need to multiply the metal price by 1.0 × 10-6 to make the conversion to grams.

1. Calculate 35% silver value :

(28.64 × .0321507466 × 5.00 × .35) = $1.6113954195


$1.6113 is the rounded silver value for the 1942-1945 silver nickel on June 15, 2012. This is usually the value used by coin dealers when selling these coins at melt value. However, the total melt value is continued below.

2. Calculate 56% copper value :

(3.4075 × .00220462262 × 5.00 × .56) = $0.0210340


3. Calculate 9% manganese value :

(2990.00 × (1.0 × 10-6) × 5.00 × .09) = $.001345


4. Add the three together :

$1.6113954195 + $0.0210340 + $.001345 = $1.6337744195
$1.6337744195 is the total melt value for the 1942-1945 silver nickel on June 15, 2012.



Year ........Mintage ... Numismatic Value Range
1942 P .....57,873,000 .....$1.25 - $95.00
1942 S .....32,900,000 $1.25 - $150.00
1943 P ....271,165,000 $1.10 - $120.00
1943 D .....15,294,000 $1.25 - $1100.00
1943 S ....104,060,000 $1.25 - $200.00
1943/2 P .....unknown $30.00 - $1265.00
1944 P ....119,150,000 $1.25 - $500.00
1944 D .....32,309,000 $1.25 - $300.00
1944 S .....21,640,000 $1.25 - $900.00
1945 P ....119,408,100 $1.00 - $300.00
1945 D .....37,158,000 $1.25 - $500.00
1945 S .....58,939,000 $1.25 - $400.00