1942 Nickel Value

1942 Nickel

The 1942 Nickel is unique in U.S. coinage as it marks the transition from the regular copper-nickel alloy to a wartime composition. Early 1942 Jefferson Nickels were minted with the usual copper-nickel mix, but later that year, the U.S. began producing silver war nickels, containing 35% silver, to conserve nickel for the war effort. These silver nickels have a large mintmark (P, D, or S) above Monticello on the reverse. The value of a 1942 Nickel varies, with war nickels typically being more valuable due to their silver content.

The 1942 Jefferson Nickel had a total mintage of almost 50 million coins struck at the Philadelphia Mint. This was a significantly smaller mintage than the previous year at Philadelphia which had over 200 million coins struck. The 1942 Jefferson Nickels are special coins within the series and are often called the war nickel because they had two different types of composition. At the beginning of the year they contained pure Nickel. Towards the end of the year, the Nickel was replaced in part by Silver because of the military’s need for Nickel during World War II. 

 

AUCTION RECORD: $9,988 • G6

Image source: PCGS

History of the 1942 Jefferson Nickel

The 1942 Jefferson Nickel has two different types of coins as described above. The distinctions between the two can often be seen with the naked eye. Newer coins often had a whiter appearance for the silver varieties, and would have a greenish tint when worn and older. If the color distinctions weren’t obvious, the Philadelphia Mint also placed a large ‘P’ mintmark atop the dome of Jefferson’s Monticello house on the reverse of the coin to showcase the silver, Type 2 versions. This was the first time the P mint mark was used on any United States coin. The obverse of the coin features a profile of Thomas Jefferson, and it was designed by Felix Schlag who won a design competition for the Jefferson Nickel.  

1942 Nickel Value

The value of a 1942 Nickel depends on whether it's a standard copper-nickel or a silver war nickel. As of 2024, early 1942 non-silver nickels are generally worth $0.10 to $2. The 1942 silver war nickels, which contain 35% silver, typically range from $1.25 to $5 in circulated condition, with uncirculated examples fetching $10 or more. Key factors influencing value include condition, mintmark (P, D, or S), and the silver content in war nickels minted in the latter half of the year.

The 1942 Jefferson Nickel value reaches upwards of around $11,000 for the highest grades of the coin and is considered a key date within the series due to its uniqueness as a war nickel with two different varieties. It’s relatively easy to find these coins in higher grades with some careful searching to find ones that are fully struck with attractive surfaces. The 1942 Jefferson Nickel would make a worthwhile find and addition to any Jefferson Nickel series collection. 

 

Type of coin: Nickel

Year: 1942 Jefferson Nickel

Jefferson Nickel Mint Mark: Philadelphia

Total mintage: 49,789,000

Metal content: 75% Copper, 25% Nickel

Face value: 5 Cents

Weight: 5.00 grams

Edge: Plain

Designer: Felix Schlag

Diameter: 21.20 millimeters

 

FAQ

How much is a 1942 Nickel worth?

The value of a 1942 Nickel depends on its composition. As of 2024, regular copper-nickel 1942 nickels are worth $0.10 to $2 in circulated condition. Silver war nickels from later in 1942, which contain 35% silver, are worth between $1.25 and $5, with uncirculated examples fetching higher prices.

What is a 1942 Silver Nickel worth?

A 1942 Silver War Nickel, made of 35% silver, is typically worth $1.25 to $5 in circulated condition. Uncirculated silver nickels can be worth $10 or more, depending on the grade and mintmark.

How do I know if my 1942 Nickel is silver?

A 1942 Silver War Nickel can be identified by a large mintmark (P, D, or S) above the Monticello building on the reverse. If your nickel has this large mintmark, it contains 35% silver. Otherwise, it is made from the standard copper-nickel alloy.

What is the value of a 1942 P War Nickel?

A 1942 P War Nickel, made with 35% silver, is generally worth between $1.25 and $5 in circulated condition. Uncirculated examples can be worth $10 or more.

Are 1942 Nickels rare?

1942 Nickels are not considered super rare, but the silver war nickels from that year have higher value due to their silver content. Nickels in uncirculated condition or those with errors are more valuable.

Where is the mintmark on a 1942 Nickel?

For the 1942 silver war nickels, the mintmark (P, D, or S) is located above the Monticello building on the reverse side. For copper-nickel versions, the mintmark (if present) is located to the right of Monticello.

What makes a 1942 Nickel valuable?

The 1942 Nickel becomes valuable due to its condition (uncirculated or mint-state), the presence of silver in war nickels, and any rare mint errors. Silver war nickels with high silver content or rare varieties often command higher prices.