Imagine this: you’re at the checkout counter, fumbling for exact change, and hand over a few coins without a second thought. Among them? A seemingly ordinary nickel — maybe darkened with age — but worth not just five cents… $4,200.
This isn’t a fantasy. It’s the very real possibility behind the elusive and often misunderstood Wartime Nickel, a special coin minted during World War II. Some of these coins have become highly valuable to collectors, with rare varieties fetching thousands of dollars — and yes, they can still be found in circulation today.
In this article, we’ll explore everything you need to know about these hidden gems: what makes them special, how to identify them, the rare ones to look for, and how one might just show up in your spare change.
The Story Behind Wartime Nickels
The Wartime Nickel refers to five-cent coins minted by the U.S. Mint between 1942 and 1945, during the height of World War II. At the time, nickel was a critical metal for military manufacturing, used in armor plating, tanks, and weapons. To conserve this vital resource, the U.S. Mint altered the composition of the five-cent coin.
Instead of using the usual 75% copper and 25% nickel alloy, the Mint temporarily produced nickels with a unique composition of:
- 56% copper
- 35% silver
- 9% manganese
These nickels are often called “silver nickels” or “Wartime nickels” because of their silver content — and they look distinctly different from standard nickels, often with a darker or cloudier appearance due to the alloy mixture.
How to Identify a Wartime Nickel
There’s one tell-tale sign that instantly reveals a Wartime nickel: the mintmark above the Monticello building on the reverse (tails) side of the coin.
Look for:
- A large mintmark (P, D, or S) directly above Monticello, not to the side.
- This is the only time in U.S. coinage history where the Philadelphia Mint used a “P” mintmark on a circulating coin until 1980.
Here’s how to recognize one:
| Year | Mintmarks | Composition |
|---|---|---|
| 1942 | P, D, S | Partial silver (only later 1942-P, 1942-S) |
| 1943 | P, D, S | 35% silver |
| 1944 | P, D, S | 35% silver |
| 1945 | P, D, S | 35% silver |
If you spot a P, D, or S above Monticello on a nickel dated between 1942 and 1945, congratulations — you’ve found a Wartime silver nickel.
Why Are Some Wartime Nickels Worth Thousands?
While many wartime nickels are only worth a few dollars, some rare varieties and minting errors can sell for thousands, especially when in excellent condition or with rare features.
Collectors look for:
1. Key Dates and Low Mintage
Some wartime nickels had lower mintages, making them scarce today. Coins from San Francisco (S) and Denver (D) mints are often more sought after in specific years.
2. Minting Errors
These are the most lucrative finds. Errors like double die obverse (DDO) or repunched mintmarks (RPM) are incredibly collectible.
3. High-Grade Condition
Nickels that have never been circulated and remain in pristine condition — graded MS65 or higher — can be worth hundreds to thousands of dollars.
4. Full Steps (FS) Designation
On the reverse of the Jefferson nickel, Monticello’s steps are a detail many overlook. If the steps are fully struck and not worn, a coin may receive the “Full Steps” designation — significantly increasing its value.
The $4,200 Nickel: Which One Is It?
Several nickels have been valued at $4,000 or more, especially at coin auctions or in certified mint condition. Let’s look at the heavy-hitters:
1. 1943-P Doubled Die Obverse
- Value: Up to $4,000–$4,200+
- What Makes It Special: The doubling is especially visible in the word LIBERTY and the date 1943.
- This is a recognized and highly collectible error variety.
- Only a small number are known to exist in high grade.
2. 1945-P Doubled Die Reverse
- Value: Up to $2,000–$4,000+
- Doubling occurs on the reverse, especially in the lettering and design details of “Monticello” and “Five Cents.”
- Hard to find and highly desirable in uncirculated condition.
3. 1944-D with Full Steps (MS68 FS)
- Value: Over $4,000 at auction
- A perfectly struck coin, incredibly rare.
- The Monticello steps are completely visible and undisturbed — a nearly perfect specimen.
4. 1942-P Wartime Transition Nickel (Early Strike)
- Value: $1,000–$3,500+
- One of the first silver-alloy nickels made during the 1942 transition.
- Sometimes struck with dies intended for the older composition, making them unique.
Can These Still Be Found in Circulation?
Believe it or not, yes.
While rare, wartime nickels do still occasionally turn up in pocket change. This is largely due to people cashing in old jars of coins, selling inherited coin collections, or not realizing what they have.
Unlike silver dimes and quarters — which are rarely seen anymore — silver nickels often go unnoticed because:
- They don’t look dramatically different from regular nickels.
- The silver content is lower and doesn’t shine as brightly.
- Most people don’t know they even exist.
That makes them prime candidates to still be out there — in coin rolls, old wallets, parking meter change, or forgotten boxes in Grandma’s attic.
Where to Look for Wartime Nickels
If you’re interested in treasure hunting, here are some of the best places to look:
- Loose change from purchases
- Coin jars or piggy banks
- Bank rolls of nickels (ask for customer-wrapped rolls)
- Estate sales and flea markets
- Family heirloom boxes or “junk drawers”
- eBay or online auctions (if you know what to look for)
How to Spot a Valuable Nickel (Step-by-Step)
- Check the Date
- Focus on nickels from 1942 to 1945.
- Look at the Reverse
- Is there a large mintmark (P, D, or S) above the Monticello building?
- If yes — it’s a Wartime nickel.
- Check for Doubling
- Inspect “LIBERTY” and the date on the front.
- Use a magnifying glass to spot any doubling.
- Check the Condition
- If it looks crisp and unworn, it may be uncirculated — highly valuable.
- Look at the Steps on Monticello
- If they are clearly visible and unbroken, you might have a Full Steps coin.
- Weigh It (Optional)
- Wartime nickels weigh 5.0 grams.
- Slight deviations may suggest mint errors or damage.
Should You Clean a Wartime Nickel?
Absolutely not.
Cleaning a coin — even gently — can destroy its numismatic value. Collectors and dealers value coins as-is, even with patina or tarnish.
If you suspect you have a valuable coin, the best thing to do is:
- Store it carefully (a coin flip or plastic holder is ideal),
- Avoid handling it too much, and
- Get it appraised or graded by a professional service like PCGS or NGC.
Turning a Nickel into Thousands: Real Finds
Here are a few true stories from collectors:
- A man in Ohio found a 1943-P doubled die obverse while sorting through his father’s old coin collection — it later sold for $3,800 at auction.
- A collector found a 1945-P double die reverse in a $50 roll of nickels purchased from a bank. Graded MS66, it was valued at $2,750.
- A woman in Florida received a 1944-D in her change and noticed how “old” it looked — after inspection, it turned out to be a Full Steps example, later valued at $4,000.
These stories prove that these coins are not just museum pieces — they’re still out there, hiding in plain sight.
Final Thoughts: A Treasure in Your Pocket?
The idea that a five-cent coin could be worth over $4,200 might sound too good to be true — but it’s not. The Wartime nickel, with its unique history, silver content, and collectible varieties, represents one of the few coins still hiding in everyday pocket change with real treasure potential.
All it takes is a sharp eye, a bit of patience, and a basic understanding of what to look for. So, the next time you get a handful of change — take a closer look. That old, dull-looking nickel just might be a piece of WWII history worth thousands.
