1945 P Jefferson Nickel Value Guide

The 1945 P Jefferson Nickel is a significant piece of World War II history, minted with 35% silver to conserve nickel for the war effort. It is particularly notable for featuring the first 'P' mint mark ever used on a United States coin to denote the Philadelphia Mint.

What Is 1945 P Jefferson Nickel Worth?

The typical price range for 1945 P Jefferson Nickel is $1 - $3 based on recent sales. However, values can vary depending on the item's condition, rarity, and other factors such as:

• The current market price of silver bullion significantly impacts the base melt value of this 35% silver coin.
• The presence of 'Full Steps' on the base of Monticello on the reverse can drastically increase the value for collectors.
• Overall preservation and strike quality, with Uncirculated (MS) grades commanding higher prices than those found in common circulation.
• Surface preservation, as the manganese content in these coins makes them prone to heavy spotting and unattractive toning.

How to Identify 1945 P Jefferson Nickel?

• Look for the large 'P' mint mark located prominently above the dome of Monticello on the reverse side.
• Verify the metallic composition of 35% silver, 56% copper, and 9% manganese, which often gives the coin a darker, greenish-grey patina.
• Check the date on the obverse to ensure it is 1945, the final year of the special wartime alloy production.
• Observe the luster; authentic silver war nickels have a distinct 'soapy' or duller sheen compared to standard copper-nickel versions.

History of 1945 P Jefferson Nickel

The Jefferson Nickel was first minted in 1938, replacing the Buffalo Nickel. During World War II, from 1942 to 1945, the composition was temporarily changed to an alloy of 35% silver, 56% copper, and 9% manganese to conserve nickel, which was a critical war material. These 'War Nickels' are identifiable by a large mint mark 'P', 'D', or 'S' above Monticello on the reverse side. The 'P' mint mark for Philadelphia was the first time this mint mark appeared on any US coin. In 1946, the original copper-nickel composition was restored.