The 1942 Jefferson Nickel is a significant piece of U.S. coin history, especially for collectors. That year, the Philadelphia Mint made a notable change by adding a “P” mint mark to its coins for the first time. Additionally, 1942 was unique because two different types of Jefferson nickels were produced using different metal mixtures due to the nickel shortages caused by World War II. Let’s explore what makes these coins special, how to identify them, their values, and some interesting varieties.
The Metal Change in 1942
Why the Change?
During World War II, the U.S. needed nickel for the war effort. To save this important metal, the U.S. Mint decided to use a different mixture for the 5-cent coins. They created a new nickel that consisted of 56% copper, 35% silver, and 9% manganese. This change was necessary to keep the coins the same size and weight, ensuring they would still work in vending machines.
The Silver Content
Interestingly, the 1942 nickels contain silver! This was not common for nickels before this time. The U.S. used 90 million of these silver nickels that year, which helped in the war effort by conserving more nickel and copper.
The Role of Manganese
The addition of manganese in the new nickel might seem odd, but it was essential for the coins to be accepted by vending machines. The machines used magnets to recognize coins, so the manganese helped make the new coins match the magnetic signature of traditional nickels.
Identifying 1942 Jefferson Nickels
Mint Marks and Types
In 1942, the Philadelphia Mint produced two types of nickels: the regular Type 1 and the silver Type 2. Here’s how they differ:
- Type 1 (Regular Nickel): Made of 75% copper and 25% nickel, produced without a mint mark.
- Type 2 (War Nickel): Made of 56% copper, 35% silver, and 9% manganese, marked with a “P” on the back.
Mint Distribution
| Mint Location | Type 1 Nickel | Type 2 Nickel |
|---|---|---|
| Philadelphia | Yes | Yes |
| Denver | Yes | No |
| San Francisco | No | Yes |
Mint Mark Cheat Sheet
To quickly identify the type of 1942 Jefferson nickel:
- No mint mark? It’s a Type 1 from Philadelphia.
- “P” mint mark? It’s a Type 2 from Philadelphia.
- “D” mint mark? It’s a Type 1 from Denver.
- “S” mint mark? It’s a Type 2 from San Francisco.
Value of 1942 Jefferson Nickels
Mint State Grading
The value of these nickels varies greatly depending on their condition. Coins are graded on a scale from 1 to 70, with 70 being perfect. Here’s a breakdown of the values based on grades for each type:
Type 1 Jefferson Nickel Values
| Grade | Price |
|---|---|
| MS-60 | $8 |
| MS-61 | $9 |
| MS-62 | $11 |
| MS-63 | $13 |
| MS-64 | $22 |
| MS-65 | $35 |
| MS-66 | $45 |
| MS-67 | $285 |
Type 2 Jefferson Nickel Values
| Grade | Price |
|---|---|
| MS-60 | $6 |
| MS-61 | $6 |
| MS-62 | $6 |
| MS-63 | $12 |
| MS-64 | $20 |
| MS-65 | $28 |
| MS-66 | $38 |
| MS-67 | $130 |
Auction Records
The finest known examples of these nickels have sold for impressive prices at auctions:
| Type | Auction Record Price |
|---|---|
| 1942 Type 1 | $11,500 for MS-67 |
| 1942-D Type 1 | $4,320 for MS-68 |
| 1942-P Type 2 | $5,950 for MS-68 |
| 1942-S Type 2 | $2,625 for MS-68 |
Notable Varieties and Errors
Variety Coins
Some 1942 Jefferson nickels have unique features due to errors during the minting process. Here are a couple of interesting ones:
- 1942-D/D Type 1: Known as “D over Horizontal D.” This occurred when the mint accidentally struck a second D mint mark over the first one.
- 1942-P/P Type 2: This has a repunched mint mark, marking it as the first Philadelphia coin with a “P” mint mark.
Error Coins
Errors are also exciting for collectors. They happen during the minting process and can make a coin quite valuable. Common errors include:
- Cuds: Where a piece of the die breaks, leaving an extra metal flow.
- Wrong Planchet: A coin struck on the wrong type of blank.
- Off-Center Strikes: The coin was not fully fed into the press.
- Double Strikes: The coin was struck twice, leading to a unique look.
Conclusion
The 1942 Jefferson Nickel is a fascinating topic for collectors and enthusiasts alike. Its unique history related to World War II, the introduction of the “P” mint mark, and the use of different metal compositions make it stand out in U.S. coinage. Whether you’re interested in the value, how to identify these nickels, or the exciting varieties and errors, there is a lot to learn and appreciate. If you come across a 1942 nickel, check its mint mark and condition—who knows, you might have a valuable piece of history in your hands!
Frequently Asked Questions (FAQ)
FAQ 1: What makes the 1942 Jefferson Nickel special?
The 1942 Jefferson Nickel is special because it was the first year that the Philadelphia Mint added the “P” mint mark. Additionally, two different types of nickels were produced due to metal shortages during World War II, making it a unique collectible.
FAQ 2: How can I identify the type of my 1942 Jefferson Nickel?
You can identify the type of your nickel by looking for the mint mark. If there is no mint mark, it’s a Type 1 nickel made in Philadelphia. If it has a “P” mint mark, it’s a Type 2 silver war nickel. “D” indicates a Type 1 from Denver, and “S” indicates a Type 2 from San Francisco.
FAQ 3: What is the value of a 1942 Jefferson Nickel?
The value of a 1942 Jefferson Nickel varies based on its type and condition. For example, uncirculated Type 1 nickels can be worth from $8 to $285, while Type 2 nickels range from $6 to $130. Auction records show some rare examples can sell for thousands of dollars.