1942 Nickel Value (2026 Guide): Errors List, “D”, “S”, “P” & No Mint Mark Worth

Not every 1942 nickel is worth the same amount — and the difference can be dramatic.

That year, Congress authorized a mid-year switch from the regular copper-nickel composition to a 35% silver alloy, creating two completely different types of nickels sharing the same date. The authorization came through the Act of March 27, 1942, and silver production began in October of that year.

The difference in value? Regular 1942 nickels trade for under a dollar in most grades. But the silver versions — marked with a large P or S above Monticello — start at well over their face value thanks to silver content alone and climb to over $100 for high-grade pieces with Full Steps (FS). Some rare varieties have sold for over $32,000.

Check the reverse of your 1942 nickel. A large P or S above the dome of Monticello means you’ve got a silver war nickel. A small D to the right of Monticello — or no mintmark at all — means it’s the regular copper-nickel type. Let’s break down exactly what each one is worth.

 

1942 Nickel Value By Variety

Here’s the breakdown by type and grade. If you know the grade of your coin, you can find the exact price below in the Value Guides section.

Also Read: Top 100 Most Valuable Jefferson Nickels Worth Money List (1938-Present)

 

Top 10 Most Valuable 1942 Nickel Worth Money

The 1942-D/D over Horizontal D variety dominates the value chart, with the all-time auction record standing at $32,200 for an MS-64 example sold through Heritage Auctions in January 2006. Lower grades of this same error still command $12,075 to $30,550 depending on condition and whether the coin carries the Full Steps (FS) designation.

High-grade silver proofs and regular Type 1 nickels also bring substantial returns. A 1942 Type 1 Proof graded PR-68 realized $11,750 at Heritage Auctions in June 2013. The 1942-P Silver Proof in PR-68+ brought $12,600 at Heritage Auctions in 2021.

The pattern is clear: exceptional preservation combined with mint errors or proof finishes drives values into five figures. A single grade point difference can mean thousands of dollars.

 

History of the 1942 Nickel

The Jefferson nickel entered production in 1938, replacing the Buffalo nickel with Felix Schlag’s design featuring Thomas Jefferson and Monticello. Schlag won his design in an open competition and the coin quickly became a workhorse of American commerce.

Just four years later, World War II changed everything. The December 7, 1941 attack on Pearl Harbor brought the United States directly into the war and dramatically increased demand for strategic metals. Nickel was critical for armor plating, artillery shells, and military equipment — using it for pocket change suddenly seemed unacceptable.

On March 27, 1942, Congress passed legislation authorizing the U.S. Mint to replace nickel in the five-cent coin with an alternative alloy. This came under the broader authority of the Second War Powers Act — specifically, Title XII, § 642 — which gave the Mint discretion to adjust proportions as needed. The Act initially contemplated a 50/50 copper-silver mixture but allowed the Mint to change ratios to better serve the public.

After several months of metallurgical testing, the Mint settled on a formula of 56% copper, 35% silver, and 9% manganese. The manganese component was essential — it maintained the same electrical conductivity and weight as regular nickels, ensuring vending machines across the country would still accept the new coins without modification.

Silver nickel production began in October 1942, making that year unique in U.S. coinage history. It marked the first time silver had appeared in a five-cent denomination since the half dime was last struck in 1873. It was also the only time in American numismatic history when different mints simultaneously produced coins of fundamentally different compositions.

Philadelphia was the only mint that struck both types in 1942. Denver produced only regular copper-nickel nickels the entire year. San Francisco produced only silver nickels, having made none in the standard composition. To help differentiate the silver coins from regular ones, the Mint placed oversized mintmarks above Monticello — and in doing so, used the “P” mintmark on a U.S. coin for the very first time in 150 years of Philadelphia Mint history.

The silver composition continued through 1945. When the war ended, regular nickel production resumed in 1946. Stack’s Bowers numismatic historian Q. David Bowers has noted that the nickname “wartime nickels” was coined by dealer Harry Forman.

Also Read: Top 60+ Most Valuable Buffalo Nickels Worth Money

 

Is Your 1942 Nickel Rare?

Want to know exactly where your coin ranks? Our CoinValueChecker App gives you the rarity score in seconds.

 

Key Features of the 1942 Nickel

The 1942 Jefferson nickel has design elements that help collectors identify varieties and distinguish between the two composition types produced that year. Knowing what to look for on both sides of the coin is the first step to understanding its value.

The Obverse of the 1942 Nickel

The obverse shows a left-facing portrait of Thomas Jefferson in colonial-era coat and wig, designed by Felix Schlag. The motto “IN GOD WE TRUST” appears to the left of the portrait, while “LIBERTY” and the date “1942” sit to the right, separated by a small five-point star.

Jefferson’s cheekbone and the hair above his ear are the high points of the design — the first areas to show wear on circulated coins. Collectors examining uncirculated examples should look for complete detail across the hair curls and sharp definition along the collar.

The Reverse of the 1942 Nickel

The reverse shows an elevation view of Monticello, Jefferson’s Virginia estate, with “MONTICELLO” beneath the building. The motto “E PLURIBUS UNUM” (Latin for “Out of Many, One”) curves along the top rim, while “UNITED STATES OF AMERICA” follows the bottom curve and “FIVE CENTS” appears between the building and the bottom inscription.

On silver wartime nickels, the large mintmark (P or S) sits prominently above Monticello’s dome — marking the historic first appearance of the “P” mintmark on any U.S. coin. On regular copper-nickel nickels, a small “D” appears to the right of Monticello, or there is no mintmark at all for Philadelphia-struck pieces.

Other Features of the 1942 Nickel

Composition: Regular 1942 nickels contain 75% copper and 25% nickel. Silver wartime nickels contain 56% copper, 35% silver, and 9% manganese. Both types weigh 5 grams with a 21.2mm diameter.

Appearance: Silver nickels often appear brighter and more lustrous when new, developing greenish or iridescent toning as they age. Because of their silver content, war nickels tone similarly to 90% silver coins and sometimes display vivid rainbow colors — which collectors often prize as eye appeal. Regular nickels maintain a typical copper-nickel look.

Full Steps (FS): Collectors prize specimens showing all six steps of Monticello clearly defined on the reverse. These “Full Steps” examples command significant premiums. The Professional Coin Grading Service (PCGS) and Numismatic Guaranty Corporation (NGC) are the two main third-party grading services that assign the FS designation. NGC also certifies Five Full Steps (5FS) separately from Six Full Steps (6FS).

Silver Melt Value: Each war nickel contains approximately 0.05626 troy ounces of pure silver. The melt value fluctuates with the silver spot price — check current prices to calculate the baseline worth of your war nickel.

Also Read: Top 100 Rarest Nickels Worth Money (Most Expensive)

 

1942 Nickel Mintage & Survival Data

The 1942 series shows wide variation in mintage and survival rates. Regular copper-nickel issues account for the largest numbers: Philadelphia struck 49,789,000 pieces without mintmark, while Denver contributed 13,938,000 marked with D. San Francisco produced no regular copper-nickel nickels at all in 1942.

Silver wartime nickels from Philadelphia total 57,873,000 — the highest single mintage of any 1942 type and the lowest mintage year across all four years of silver war nickel production (1942–1945). Despite that large initial number, the silver war nickel’s survival rate is only about 10.37%, meaning roughly 6 million examples remain today. The survival rate is low largely because many were melted for silver after the war.

The proof categories tell a different story. Regular proof nickels had a mintage of 29,600 with an impressive 77.70% survival rate — but CAM (Cameo) versions show only 75 surviving specimens from that same mintage, a survival rate of just 0.25%. Silver proof variants follow similar trends: 27,600 minted with 22,000 surviving in standard brilliant proof form, but CAM and DCAM (Deep Cameo) examples number just 100 and 50 respectively.

These survival rates directly control market availability and pricing at every grade level.

Also Read: Jefferson Nickel Value (1938-Present)

 

The Easy Way to Know Your 1942 Nickel Value

To know your 1942 nickel value, start by checking the mintmark location on the reverse. A large P or S above Monticello’s dome identifies a 35% silver wartime nickel worth significantly more than regular copper-nickel pieces. A small D to the right of Monticello — or no mintmark at all — indicates the standard type.

Next, assess condition. Circulated pieces with visible wear start around $1–$3. Uncirculated examples can reach $80–$260 or higher. Then look for rare errors like repunched mintmarks or doubled dies, which significantly increase value.

For instant, accurate assessment, use our CoinValueChecker App to identify grade, detect errors, and get real-time market pricing.

 

1942 Nickel Value Guides

The 1942 Nickel comes in nine distinct varieties:

• 1942 No Mint Mark Nickel: Philadelphia, copper-nickel
• 1942-D Nickel: Denver, copper-nickel
• 1942-S Nickel: San Francisco, silver wartime composition
• 1942-P Silver Nickel: Philadelphia, wartime silver
• 1942 Proof Nickel: Collector proof, copper-nickel
• 1942 CAM Nickel: Cameo proof, copper-nickel
• 1942-P Silver Proof Nickel: Collector proof, silver
• 1942-P Silver CAM Nickel: Cameo proof, silver
• 1942-P Silver DCAM Nickel: Deep Cameo proof, silver

The 1942 series splits into two main groups: regular copper-nickel coins and wartime silver issues. Regular strikes trade near face value in circulated condition, while silver versions carry a premium due to their metal content. Proof coins were made specifically for collectors and show sharper detail and finer surfaces than business strikes.

CAM (Cameo) and DCAM (Deep Cameo) designations indicate the level of contrast between frosted raised designs and mirror-like flat fields on a proof coin. Higher contrast means higher value — and much greater rarity.

 

1942 No Mint Mark Nickel Value

The 1942 no-mintmark nickel is the only Philadelphia-struck type without any mintmark. It uses the traditional 75% copper, 25% nickel composition from the early months of 1942, before the October switch to silver. Philadelphia ended production of these regular-composition coins when the new silver dies arrived.

To identify this variety, check both potential mintmark locations on the reverse: there should be nothing to the right of Monticello and nothing above the dome. The coin’s standard surface texture distinguishes it from proof versions, which have deeply mirror-like fields.

Circulated examples trade near face value. Mint state coins start around $1–$5 for lower grades, while pieces grading MS-65 or higher climb significantly. Full Steps examples — showing all six steps of Monticello clearly defined — can reach into the thousands in the finest grades.

PCGS notes that both types of 1942 nickels are “very common and can be found in high grades with relative ease.” However, Full Steps specimens remain a genuine challenge, as the steps are prone to softness even on otherwise well-preserved coins.

Most circulated pieces show heavy wear on Jefferson’s cheekbone and Monticello’s steps. Collectors should avoid coins with scratches, cleaning marks, or environmental damage, as these significantly reduce value regardless of technical grade.

Here are auction records that can give you a clear understanding of its value.

This variety sees increasing collector demand as an affordable entry point into the 1942 series.

 

1942-D Nickel Value

Denver produced only regular copper-nickel nickels throughout all of 1942, never transitioning to the wartime silver alloy. This makes it the only mint that continued normal production without interruption that year. The small “D” mintmark appears to the right of Monticello, in the same position it had occupied for years.

Despite its large mintage of 13,938,000 pieces, PCGS numismatist Jaime Hernandez has noted that the 1942-D “is considered a key date in the Jefferson Nickel circulation strike series.” The reason: wartime coin shortages caused heavy use, and uncirculated examples are genuinely scarce. Hernandez states that as of his writing, MS-60–MS-63 examples command about $50 each — a strong premium for any common-date coin.

Regular circulated 1942-D pieces trade close to face value, making them accessible for new collectors. Mint state examples start around $1–$5 for lower grades, while pieces grading MS-65 and above can reach several hundred dollars. The auction record for this issue was set in August 2021 when a Stack’s Bowers auction realized $4,320 for an MS-68 Full Steps specimen.

Top-graded pieces remain scarce, with the highest certified examples achieving significant multiples over typical mint state coins.

The market sees steady demand from type collectors and those building complete 1942 sets.

 

1942-S Nickel Value

The large “S” mintmark sits prominently above Monticello’s dome on all 1942-S nickels, marking San Francisco’s entry into wartime production. Importantly, San Francisco made no regular copper-nickel nickels in 1942 whatsoever — every 1942-S is a silver war nickel.

What distinguishes this issue from other 1942 silver nickels is its exceptional preservation quality. PCGS CoinFacts notes that as of January 2012, 64 MS-67 non-Full Steps examples and 10 MS-67 Full Steps had been certified — showing a meaningful population at the Superb Gem level. The 1942-S “is one of the better-preserved of all the ‘War’ Nickels,” with the majority of Mint State survivors in Gem condition at MS-65 and MS-66.

Full Steps versions represent approximately 10% of coins certified to date. The auction record stands at $4,888, achieved for a PCGS MS-67 specimen sold at Heritage Auctions in August 2011. For Full Steps, PCGS lists $725 for an MS-67 FS and $8,500 for an MS-68 FS — demonstrating the dramatic condition-based premium structure.

Historical auction results provide insight into market pricing for this date.

Market patterns over the past year reflect ongoing collector interest in this silver issue.

 

1942-P Silver Nickel Value

The 1942-P silver nickel holds unique historical significance as the first U.S. circulation coin to bear the Philadelphia “P” mintmark. For 150 years, Philadelphia had never marked its coins — this wartime change broke a tradition that dated back to the founding of the Mint in 1792. The large “P” was placed prominently above Monticello’s dome to distinguish silver wartime nickels from their copper-nickel predecessors.

According to Jefferson nickel specialist Bernard Nagengast in his reference work The Jefferson Nickel Analyst (2nd Ed., 2002), the silver alloy nickels from 1942–1945 had “an entirely different, more appealing look than the earlier nickels,” which encouraged collectors to save them. He specifically noted that 1942-P silver nickels are “always very nice, without the surface roughness of the copper nickel issue. Gems are easy to find.”

The silver alloy produced smoother, brighter surfaces than traditional copper-nickel planchets, making high-grade examples readily available. PCGS CoinFacts confirms that even MS-67 examples are “somewhat plentiful,” and that none have been graded finer than MS-67 by PCGS — with or without Full Steps. However, coins showing all six steps of Monticello are “very rare,” with Nagengast estimating only 1 in 10 pieces displaying five full steps. In May 2021, an MS-68 specimen realized $5,950 at auction.

Major auction houses have documented strong results for high-grade specimens.

Growing recognition of the historic first P mintmark continues to attract new collectors to this landmark issue.

 

1942 Proof Nickel Value

Philadelphia struck 29,600 proof nickels in 1942 using the traditional copper-nickel composition — and these were the last regular-composition proofs until the program resumed in 1950. The eight-year gap happened because wartime priorities shifted all Mint resources toward business strikes and military medals, ending collector coin programs entirely.

These proofs carry no mintmark on the reverse — a key identification feature. Hand-polished planchets and multiple strikes produced the mirror-like fields that distinguish proof coins from regular business strikes. The auction record for this variety is $11,750 for a PR-68, sold at Heritage Auctions in June 2013.

Despite the relatively small mintage, approximately 77% of these proofs survive today, making them reasonably accessible compared to other pre-war proof issues. Grade quality drives value, with PR-65 and above specimens commanding two to three times the price of PR-63 examples.

As both the final pre-war proof and the last copper-nickel proof for nearly a decade, this date holds a unique position that appeals to Jefferson nickel specialists and transitional-year collectors alike.

Grade and surface preservation create significant price variation within the same variety.

Recent trading patterns provide useful context for timing acquisitions and understanding current demand levels.

 

1942 CAM Nickel Value

CAM stands for Cameo — a designation awarded by PCGS and NGC when a proof coin shows frosted, white raised devices (portrait, Monticello) contrasting sharply against deeply mirror-like flat fields. Cameo designations from the 1936–1942 era rank among the scarcest proof varieties in all of U.S. coinage.

The CAM effect only appeared on the first few dozen strikes from a freshly prepared die before the frosting wore away. After that, subsequent strikes showed uniformly brilliant surfaces with no cameo contrast. This is why genuine CAM examples from this era are so rare: only a tiny fraction of the 29,600 proofs struck received the designation.

Authentic cameo contrast shows unbroken white frost on Jefferson’s portrait and Monticello, paired with deep reflective fields on both sides. Only about 75 specimens are estimated to survive with CAM designation from the entire 1942 copper-nickel proof mintage — a survival rate of just 0.25%. Documented auction results show PR-66 CAM specimens reaching $5,000, representing premiums of 30–50 times over non-cameo counterparts in similar grades.

The handful of certified examples that reach auction generate significant collector interest.

Market activity over the past year provides insight into availability patterns for this scarce variety.

 

1942-P Silver Proof Nickel Value

The 1942-P Silver Proof Nickel is a double historical milestone: it was both the first proof coin from the Philadelphia Mint to bear the “P” mintmark, and the only proof struck in the wartime 35% silver alloy during that year. It arrived as something of an afterthought to the market, struck after regular proof set production had concluded and sold only as individual pieces rather than in sets.

The 27,600 examples minted show a high overall survival rate of approximately 80% in standard brilliant proof form. However, only a single specimen is known to have achieved the PR-69 grade level. A PR-68+ example realized $12,600 at Heritage Auctions in 2021.

The convergence of historical timing, finite high-grade population, and dual appeal to both numismatists and silver investors creates potential for continued appreciation. Registry set competition keeps demand active for top-graded examples.

Past auction data provides valuation context for this issue.

The market activity demonstrates active interest among collectors and institutions alike.

 

1942-P Silver CAM Nickel Value

Among the 1942 nickel series, the 1942-P Silver Proof CAM occupies one of the scarcest tiers in all of Jefferson nickel collecting. By 2014, population reports showed only 9 CAM specimens and 1 DCAM example — meaning under 0.2% of the certified silver proof population carries the Cameo designation.

A PR-67 CAM example realized $14,100 at Heritage Auctions in April 2014 — representing a premium of roughly 140 times the melt value of the silver content. That auction result remains one of the strongest recorded for this variety and demonstrates just how dramatically the Cameo designation multiplies the value of an already rare proof.

Standard brilliant proofs of this type trade near $100 in mid-grade. But the nine known CAM examples and single DCAM are in a completely different market tier, pursued by advanced registry collectors willing to pay extraordinary premiums for documented provenance and verified frosting.

The auction records reveal how condition creates dramatic value differentials within this silver cameo series.

Its rarity is increasingly recognized in the market activity chart below.

 

1942-P Silver DCAM Nickel Value

The 1942-P Silver DCAM Nickel demands the most rigorous authentication standards of any variety in the 1942 series. DCAM — Deep Cameo — requires outstanding frosted white devices against deeply dark fields, with no breaks or brilliant patches anywhere on the raised design, and this contrast must appear on both the obverse and reverse simultaneously. Grading services will not assign DCAM designation unless both characteristics are present and exceptional.

The silver alloy creates unique surface aging patterns that require specialist knowledge to evaluate. Q. David Bowers’ book A Guide Book of Buffalo and Jefferson Nickels (Whitman Publishing, 2017) provides the technical standards essential for authenticating wartime proof varieties. With only approximately 50 DCAM examples estimated to survive from the entire wartime silver proof production, each certified specimen represents an extreme rarity.

In 2021, a PR-66 DCAM example realized $6,463 at auction, reflecting the significant premium for verified Deep Cameo designation. Collectors should prioritize professionally certified examples with documented provenance. Never purchase a raw (uncertified) example of this variety without expert third-party verification.

Historical auction data reveals the scarcity premium attached to properly designated DCAM examples.

Collectors continue pursuing certified specimens with verified Deep Cameo designation.

Also Read: 22 Rare Nickel Errors List with Pictures (By Year)

 

Rare 1942 Nickel Error List

The 1942 Jefferson nickel series includes several minting errors that hold strong collector appeal due to their scarcity and historical context. Many of these errors reflect the challenges of wartime production and the manual mintmark application process used by the U.S. Mint until the late 1980s.

Until approximately 1989, mint employees physically hand-punched the mintmark onto each working die — a process that inevitably created misalignments, repunchings, and positioning errors.

1. 1942 DDO FS-101 And FS-102

The FS-101 and FS-102 are Doubled Die Obverse (DDO) varieties on regular 1942 nickels. A Doubled Die occurs when the die receives multiple impressions during the hub transfer process with slight misalignment between strikes — the design elements appear doubled or shifted on the finished coin.

The FS-101 shows doubling on Jefferson’s profile and nose, plus doubling on the lower-left portion of the “2” in the date, with minor doubling visible on “GOD.” The FS-102 is a separate doubled die variety with its own distinct characteristics and a different doubling pattern. Magnification is necessary to distinguish genuine doubled dies from machine doubling or post-strike damage.

An MS-64 example of the FS-102 reached $275 at auction in 2015. Most examples in mid-grades sell for a few hundred dollars. Examining the date numerals and lettering with a loupe is the best approach for initial identification.

2. 1942-D/D D/Horizontal D

This is the most celebrated error in the entire 1942 nickel series and one of the most famous Jefferson nickel varieties ever discovered. A Denver Mint employee punched the “D” mintmark onto the working die sideways — horizontally — before catching the mistake and correcting it with a properly oriented vertical “D.” The first, horizontal “D” remained visible beneath the corrected vertical impression.

The Repunched Mintmark (RPM) variety is strong enough to see with the naked eye, which adds to its popular appeal. PCGS CoinFacts describes it as “quite scarce, with possibly less than a few hundred examples known,” and notes that in uncirculated condition it “becomes very scarce with probably less than 100 examples known.”

The all-time auction record for this variety is $32,200, set by Heritage Auctions in January 2006 for an MS-64 example — remarkable because that grade is not even near the top of the grading scale. An MS-66 sold for $15,275 at Heritage Auctions in April 2013. Circulated examples range from $135 to several thousand dollars, with Full Steps examples priced from $3,000 to $7,250.

3. 1942-P/P Silver RPM FS-501

This Repunched Mintmark (RPM) variety holds exceptional historical interest: it represents errors made on the very first “P” mintmark ever used on a U.S. coin, combined with the inaugural silver war nickel composition. The mint worker applied the “P” punch twice during die preparation, with the upper “P” offset to the left of the original impression.

Both “P” impressions are right-side-up but offset from each other — meaning this is a true repunching error, not a rotation. The PCGS auction record for this variety is $1,020 for an MS-66, sold at Heritage Auctions in April 2018. Examining the large mintmark above Monticello with magnification clearly reveals the doubled impression.

Focus on examples with clear repunching and minimal wear. Circulation quickly diminishes the visibility of the doubled mintmark, and well-preserved specimens with strong eye appeal command premium prices in the current market.

4. 1942-S/S RPM FS-501

The 1942-S/S RPM FS-501 can be identified by a diagnostic spike protruding from the back of Jefferson’s neck on the obverse, pointing toward the space between the “9” and “4” of the date. The repunched “S” mintmark shows doubling above Monticello’s dome on the reverse.

Later die stages of this variety show a die crack running from the base of Monticello down through the right side of the “N” in CENTS to the “O” of OF — positioned closer to the “E” of MONTICELLO than to the “L.” These diagnostic features make authentication relatively straightforward for collectors familiar with the variety.

An MS-65 example reached $300 at auction in 2019. The variety offers an accessible entry point for collectors interested in wartime nickel errors, combining real historical significance with reasonable pricing in most grades. Because it is a silver war nickel, even circulated examples retain melt value above face value.

5. The “Frith” 1942 Nickel — The Rarest Error of All

No discussion of 1942 nickel errors is complete without mentioning the so-called Frith nickel — the single most valuable 1942 nickel ever identified. This coin is a 1942-S war nickel where the large “S” mintmark was incorrectly placed to the right of Monticello (where a regular small mintmark would appear) instead of above the dome.

This means the coin looks almost like a regular-type S nickel at first glance but carries the silver wartime composition — a combination that should not exist. Only one example is known. It has not been officially certified by PCGS or NGC, but it has been estimated by numismatic experts to be worth approximately $175,000.

This coin is an extraordinary example of how a mintmark punched in the wrong location can create a one-of-a-kind rarity. If you find a 1942-S nickel with the “S” to the right of Monticello rather than above the dome, seek expert authentication immediately.

 

Where To Sell Your 1942 Nickel?

Whether you’re looking for quick cash or top dollar from seasoned collectors, knowing the right marketplace makes all the difference.

Check out now: Best Places To Sell Coins Online (Pros & Cons)

 

1942 Nickel Market Trend

*Market Trend Chart showing the number of people paying attention to this coin.

 

FAQ About the 1942 Nickel Value

1. What makes a 1942 Jefferson nickel rare?

Most 1942 nickels are common and very affordable. However, several factors can make a specific example rare and valuable.

The rarest known specimen is the Frith 1942-S error nickel — a silver war nickel with the “S” mintmark incorrectly placed to the right of Monticello instead of above the dome. Only one example is known, and it has been estimated at around $175,000, though it has not been certified by PCGS or NGC.

Other factors that drive rarity include: the 1942-D/D D over Horizontal D repunched mintmark error (fewer than 100 known in uncirculated), Full Steps designation on any 1942 variety (approximately 10% of certified coins), and Cameo or Deep Cameo designation on 1942 proofs (as few as 9–75 examples known across varieties).

2. Which 1942 Jefferson nickels are the most valuable?

Here are the top auction results for 1942 Jefferson nickels to date:

The 1942-D/D MS-64 Full Steps D over Horizontal D example sold for $32,200 at Heritage Auctions in January 2006 — the all-time record for any 1942 nickel.

The 1942-D/D MS-66 D over Horizontal D sold for $15,275 at Heritage Auctions in April 2013.

The 1942-P Silver PR-67 CAM Type 2 proof brought $14,100 at Heritage Auctions in April 2014.

The 1942-P Silver PR-68+ proof realized $12,600 at Heritage Auctions in 2021.

The 1942 Type 1 PR-68 copper-nickel proof sold for $11,750 at Heritage Auctions in June 2013.

The 1942 No Mint Mark MS-67 (Type 1) realized $11,500 at Bowers & Merena in March 2007.

3. How much is the 1942 No Mint Mark Jefferson nickel worth?

The 1942 no-mintmark copper-nickel nickel (Type 1) typically sells for $3 to $125 depending on condition, ranging from lightly circulated through high-end uncirculated.

Specimens with the Full Steps designation range from $30 to several hundred dollars in most grades, with the finest examples reaching into the thousands.

The 1942-P Silver Nickel (Type 2, with the large “P” above Monticello) is a completely different coin. It starts around $1.88 or higher in circulated condition based on silver melt value alone, and Full Steps examples command much larger premiums.

4. How do I tell if my 1942 nickel is silver?

The easiest method is checking the mintmark location and size on the reverse. A large, bold P or S placed above Monticello’s dome means your coin is a 35% silver war nickel — always.

A small D to the right of Monticello, or no mintmark at all, means it’s a regular copper-nickel coin.

Color can also help on an uncirculated coin: silver war nickels appear brighter and have a whiter sheen. As they age, they often develop greenish or iridescent rainbow toning, similar to 90% silver coins. When in doubt, check the mintmark location — it’s the definitive test.

5. What is the silver content value of a 1942 war nickel?

Each 1942 war nickel (those with the large mintmark above Monticello) contains exactly 0.05626 troy ounces of pure silver. The melt value changes with the silver spot price.

For example, at a silver spot price of $33.50 per ounce, the melt value is approximately $1.88. At higher silver prices the floor value rises proportionally. Even heavily worn war nickels are always worth more than face value due to this silver content.

Always check current silver spot prices before buying or selling 1942 war nickels in bulk.

6. What is Full Steps (FS) and why does it matter for 1942 nickel value?

Full Steps (FS) is a designation awarded by PCGS and NGC when all six steps at the base of Monticello on the reverse are sharply and completely defined. This indicates that the coin was struck from fresh dies at full pressure, with no softness in the central design.

The Full Steps designation can multiply a 1942 nickel’s value dramatically. For the 1942-S, for instance, a standard MS-67 is worth a few hundred dollars while an MS-68 Full Steps can bring $8,500. NGC also separately certifies Five Full Steps (5FS) and Six Full Steps (6FS), with 6FS commanding the highest premiums.

Only about 10% of certified 1942 silver war nickels carry the Full Steps designation, so the search for FS examples rewards careful examination.

7. Is the 1942-D nickel a key date?

Yes. Despite a mintage of nearly 14 million pieces, PCGS considers the 1942-D a key date in the Jefferson nickel circulation strike series. The reason is that wartime coin shortages caused these to circulate heavily, making uncirculated examples genuinely scarce.

Lower mint state grades (MS-60 to MS-63) command about $50 each — an unusual premium for a common-date type. The condition rarity becomes even more pronounced with Full Steps, where the record is $4,320 for an MS-68 FS at a 2021 Stack’s Bowers auction.

If you find a 1942-D nickel that appears to show no circulation wear, it’s worth getting it professionally graded.

8. Did Denver ever produce silver war nickels in 1942?

No. Denver produced only regular copper-nickel nickels throughout all of 1942. It did not transition to the silver wartime composition that year at all.

This contrasts with Philadelphia, which produced both types in 1942, and San Francisco, which produced only silver nickels in 1942. Denver’s silver war nickel production did begin the following year and continued through 1945 — but 1942-D silver nickels do not exist as a regular issue.

Any coin claimed to be a “1942-D silver war nickel” with a large D above Monticello should be treated with extreme skepticism and sent for professional authentication.

9. What is the “Second War Powers Act” and how does it relate to the 1942 nickel?

The Second War Powers Act was federal legislation passed in 1942 to give the U.S. government broad emergency powers during World War II. Title XII, § 642 of that act specifically authorized the U.S. Mint to use an alternative alloy for the five-cent coin, removing the requirement to use copper-nickel.

The Act initially contemplated a 50/50 copper-silver mix but gave the Mint discretion to adjust proportions as needed. The final formula selected was 56% copper, 35% silver, and 9% manganese — the composition used on all 1942–1945 war nickels.

The legislation also indirectly created the historic first appearance of the “P” mintmark by requiring a way to differentiate the new silver coins from older copper-nickel pieces.

10. Should I clean my 1942 nickel before selling it?

Never clean a coin you intend to sell to collectors or grade through PCGS or NGC. Cleaning — even gentle wiping — leaves microscopic scratches called hairlines on the surface that are immediately visible to trained graders under magnification.

A cleaned coin receives a “details” grade from PCGS or NGC, which significantly reduces its market value compared to a problem-free coin of the same technical grade. A 1942-S in MS-65 condition might be worth $30–$40, while the same coin with cleaning damage might bring only $10–$15.

The only exception is gently rinsing a coin in distilled water to remove loose surface dirt — never use chemicals, polishing cloths, or abrasives of any kind.