For four years the five cent piece contained silver, because nickel metal was needed for the war. Those coins are still out there, and most people do not know they are holding one.
Silver spot
$53.44 a troy ounce.
Spot price as of 10 November 2026.
Each coin is 5 g at 350 fine,
a US Mint specification.
This is metal value only. Most coins are worth more than their metal to a collector,
and some are worth very much more, so check the date and mint mark before selling
anything here for its melt value.
What one war nickel is worth in silver
One war nickel contains 0.0563 troy ounces of pure silver, from a coin
weighing 5 grams at 350 parts per thousand. At the
current benchmark that metal is worth
$3.01.
The benchmark behind it was set on
, and every figure on this
page moves with it.
Melt value by quantity, at the current benchmark.
How many
Face value
Pure silver
Melt value
1
$0.05
0.0563 ozt
$3.01
10
$0.50
0.5626 ozt
$30.07
20
$1.00
1.1253 ozt
$60.14
50
$2.50
2.8132 ozt
$150.35
100
$5.00
5.6264 ozt
$300.69
What the coin is
Between late 1942 and 1945 the US five cent piece was struck in an alloy of 56% copper, 35% silver and 9% manganese, weighing 5 grams. That gives 0.05626 troy ounces of pure silver per coin, the smallest silver content of any US coin on this site. Ordinary nickels, before and since, are 75% copper and 25% nickel and contain no silver whatever.
The change had nothing to do with the value of silver. Nickel is a strategic metal used in armour plate, and removing it from coinage freed up supply for the war effort. Silver was the substitute that would still work in vending machines and still look like a nickel, and the manganese was added to keep the electrical properties close enough that it did.
The identifying feature is the mint mark, and it is unmistakable once you know it. On a war nickel a large P, D or S sits above the dome of Monticello on the reverse, a position used on no other nickel before or since. It is also the first time the P for Philadelphia appeared on any US coin. If the mint mark is small and to the right of the building, it is an ordinary nickel with no silver in it.
Is it worth more than its metal?
War nickels are common. Over half a billion were struck across the four years, they were saved in quantity once people realised they contained silver, and there is no true key date in the series. For practical purposes every circulated war nickel is a bullion coin worth its metal.
The exceptions are varieties rather than dates. The 1943-P doubled die obverse, where the date and motto show clear doubling, carries a real premium, and full-step Monticello examples in high grade are collected. Neither is common enough to be worth sorting a jar for unless you enjoy it.
Because the silver content per coin is so low, a war nickel is only worth a fraction of what a silver dime is worth despite being physically twice the size. That surprises people constantly. The size is copper and manganese, not silver.
Selling it
Nobody buys war nickels singly. They trade by the roll of forty or by the bag, priced as a percentage of their combined silver content, and a dealer will typically pay somewhat under melt because the alloy is awkward to refine: the manganese has to be separated out, which costs more than processing 90% coin.
Expect a lower percentage of melt than you would get for 90% silver dimes or quarters, and do not be offended by it. If you are accumulating rather than selling, war nickels are one of the cheapest ways to buy silver by weight, for exactly the same reason.
0.05626 troy ounces, from 5 grams of a 35% silver alloy. That is less silver than a dime holds, despite the nickel being much larger, because the rest of the coin is copper and manganese.
How do I identify a war nickel?+
Look for a large P, D or S mint mark above the dome of Monticello on the reverse. No other nickel has a mint mark in that position, and 1942 to 1945 are the only years. A small mint mark beside the building means an ordinary nickel with no silver.
Are all 1942 nickels silver?+
No. Production switched partway through 1942, so there are both ordinary copper-nickel and 35% silver coins dated 1942. The large mint mark above Monticello is the test, not the date on its own.
Why do dealers pay less than melt for war nickels?+
The 35% alloy contains manganese, which makes refining more expensive than processing standard 90% silver coin. That extra cost comes out of the offer, so war nickels typically fetch a lower percentage of melt than silver dimes or quarters.
Recommended Gold Testing & Smelting Equipment
Laboratory-grade scales, non-destructive electronic testers, and digital melting furnaces for accurate scrap valuation and refining.
Digital Electric Gold & Silver Melting Furnace (1kg to 3kg, 1150°C / 2100°F)
Commercial digital smelting furnace with high-density graphite crucible, insulated heating chamber, and heavy-duty crucible tongs. Heats up to 2100°F (1150°C) with precise digital PID temperature control to cleanly melt scrap gold jewelry, sterling silver, and brass into tradeable bullion bars in under 45 minutes.
Laboratory-grade electronic gold analyzer that instantly determines karat purity from 10K to 24K and verifies platinum without messy acid drops or destructive scratching. Rapid self-calibration ensures quick, reliable scrap valuation without damaging collectible jewelry.
0.001g High-Precision Analytical Milligram Jewelry Scale (50g x 0.001g)
Laboratory-grade analytical milligram balance measuring down to 0.001 grams, 0.005 carats, and 0.0001 troy ounces (ozt). Features a clear protective draft shield, tare function, and stainless steel calibration weights to catch fine weight fractions before smelting.
Multi-Cavity High-Density Graphite Ingot Mold for Bar Casting
Machined high-purity fine-grain graphite mold designed for pouring clean 1 oz, 2 oz, 5 oz, and 10 oz gold and silver bars. Delivers high thermal stability, rapid heat dissipation, and a smooth cavity finish for effortless ingot release.
Master Gold & Silver Chemical Acid Scratch Assay Kit with Touchstone & Loupe
Complete precious metal appraisal kit featuring 10K, 14K, 18K, and 22K gold testing acids, silver testing solution, a genuine dense testing touchstone, and an illuminated triplet jeweler loupe to distinguish solid karat gold from heavy plating.
Kevlar-reinforced split-cowhide foundry gloves rated for temperatures up to 2000°F with extended gauntlet forearm protection, paired with a high-impact anti-glare face shield designed for safe scrap metal handling and pouring.
Compare essential equipment specifications for establishing an efficient scrap gold testing and melting workstation:
Equipment Type
Primary Purpose
Capacity / Accuracy
Key Advantage
Electric Smelting Furnace
Melting scrap jewelry, dental gold, and coins into bullion
1 kg to 3 kg crucible capacity
Clean flameless PID temperature control up to 2100°F
Electronic Karat Tester
Instant purity check on intact jewelry and high-end watches
10K to 24K gold and platinum ranges
Non-destructive testing with no acid stains or scratches
Analytical Milligram Scale
Precise scrap weight measurement before refining
50g capacity at 0.001g (0.0001 ozt)
Catches fine weight margins standard kitchen scales miss
Multi-Cavity Ingot Mold
Casting molten scrap metal into tradeable bullion bars
1 oz, 2 oz, 5 oz, 10 oz bar cavities
High-density graphite prevents sticking and oxidation
Acid Touchstone Assay Kit
Distinguishing solid karat alloy from heavy vermeil or plate
10K, 14K, 18K, 22K acid standards
Time-tested chemical confirmation for scrap buyers
Scrap Valuation Pro Tip: Melt Loss & Non-Destructive Testing
When melting scrap jewelry lots, expect an average 1% to 3% melt loss due to burn-off of non-precious solder joints, skin oils, and enamel. Before melting high-value items, verify karat content using a non-destructive electronic tester. Acid scratch testing can leave noticeable etch marks and may read false positive on heavy gold-filled or rolled gold plate items (such as 1/10 10K RGP or vermeil).
As an Amazon Associate we earn from qualifying purchases. Product recommendations are editorially independent.
