What Nickels Are Silver?

By Sean McConeghy

While it is often overlooked in everyday commerce, the U.S. nickel has one of the most fascinating histories of America’s circulating coinage. In fact, some numismatists consider the half dime, which was the forerunner to the nickel, one of the first coins the U.S. Mint ever issued.

The half dime was struck from 1.35 grams of 89.24% fine silver starting in 1794 and then sporadically through 1805. The denomination was then struck annually from 1829-1873, with its composition changing to 1.34 grams of 90% fine silver in 1837. Silver would not return to circulating five-cent-denominated coinage in the United States until World War II.

The nickel first debuted in 1866; however, this new coinage did not immediately result in the discontinuance of the half dime, which would be issued until 1873. The new five-cent coin took its name from its composition, 25% nickel and 75% copper. Since its introduction, the nickel has been a mainstay of American commerce, except for 1922, 1932, and 1933, when none were struck.

Which Years Were Nickels Silver?

In 1942, with wars raging in Europe and the Pacific, nickel became a prized war material. Consequently, Congress authorized the production of nickels with 50% copper and 50% silver on March 27, 1942. The legislation gave the U.S. Mint the authority to vary the metals' proportions according to practical concerns. The biggest among them was ensuring that vending machines did not reject the new coins. The Mint settled on an alloy of 35% silver, 56% copper, and 9% manganese, which accomplished this goal.

Silver Nickel Years

Nickels issued into circulation from 1942-1945 have a 35% silver composition. These nickels, known as Silver War Nickels, continued to circulate after the war until the mid-1960s; however, the production of silver nickels ended six months after the war ended in December 1945, making the 1945 Silver Nickel the last of its kind.

Are 1964 Nickels Silver?

No, 1964 Nickels do not contain any silver. 1964 Jefferson Nickels have a composition of 75% copper and 25% nickel. At the time, the U.S. was experiencing a coin shortage, which led to the U.S. Mint producing over 2.8 billion U.S. nickels in 1964. While the majority are unremarkable, some 1964 Nickels can garner high premiums—for example, those with the 5FS and 6FS designations. FS means “Full Steps” and refers to how many of the steps at the base of the Monticello design are visible, which is an indication of a full, high-quality strike. However, these high premiums are not factored by silver content as there is no silver in 1964 nickels.

What Year Did They Stop Making Silver Nickels?

In 1946, the year after the war ended, the composition of nickels returned to 75% copper and 25% nickel, which is its standard composition for circulating nickels to this day.

Are War Nickels Junk Silver?

Silver War Nickels CAN be traded as junk silver coins, but are not always regarded as such. Junk silver refers to U.S. circulating coins made with silver prior to 1964, before the discontinuation of silver content in circulating coinage. Junk silver generally includes silver coins in poor condition, prized for their silver content alone versus any numismatic value. Generally speaking, junk silver coins contain 90% silver content, with copper often making up the remaining percentage. Some coins, such as the 1965-1970 Kennedy Half Dollars, only contain 40% silver but are still considered junk silver. While the most common junk silver coins often include half dollars, quarters, and dimes, Silver War Nickels may also be considered junk silver, depending on their condition. 

Silver War Nickels in high grades or with other noteworthy attributes such as mint errors or lower mintages would likely not be considered junk silver. Instead, they would be prized for their numismatic appeal.

Sources Used:

Richard Yeoman A Guide Book of U.S. Coins 

https://www.ngccoin.com/coin-explorer/jefferson-five-cents-1938-date-pscid-25

https://www.pcgs.com/coinfacts/category/half-dimes/8

https://www.coinflation.com/coins/1942-1945-Silver-War-Nickel-Value.html

https://coinweek.com/silver-war-nickels-history-values-and-varieties/ 

https://craftbuds.com/1964-nickel-value/

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