The 1942 Jefferson Nickel is a notable coin in U.S. numismatic history, distinguished by its unique compositions and mint mark variations. This year marked a significant transition due to World War II, leading to the introduction of the “war nickels” containing silver.
Collectors and investors find the 1942 Jefferson Nickel intriguing due to its diverse varieties and values.
Historical Context
In 1942, the United States Mint produced Jefferson Nickels in two distinct compositions:
- Type 1 (Pre-War Composition): Minted early in the year, these nickels consist of 75% copper and 25% nickel.
- Type 2 (Wartime Composition): Introduced later in 1942, these coins contain 56% copper, 35% silver, and 9% manganese. The inclusion of silver was a wartime measure to conserve nickel for military purposes.
Mint Marks and Mintage
The 1942 Jefferson Nickels were produced at three mints:
- Philadelphia (P): Both Type 1 and Type 2 nickels were minted here. Notably, the Type 2 nickels were the first U.S. coins to feature the “P” mint mark, prominently placed above Monticello on the reverse.
- Denver (D): Produced only Type 1 nickels with the “D” mint mark located to the right of Monticello.
- San Francisco (S): Minted only Type 2 nickels, featuring the “S” mint mark above Monticello.
Mintage Figures
| Mint Location | Type | Composition | Mint Mark | Mintage |
|---|---|---|---|---|
| Philadelphia | 1 | Cupronickel | None | 49,789,000 |
| Philadelphia | 2 | Silver | P | 57,873,000 |
| Denver | 1 | Cupronickel | D | 13,938,000 |
| San Francisco | 2 | Silver | S | 32,900,000 |
Values Based on Condition
The value of a 1942 Jefferson Nickel varies depending on its type, mint mark, and condition:
| Coin Type | Mint Mark | Good (G-4) | Very Fine (VF-20) | Extremely Fine (EF-40) | About Uncirculated (AU-50) | Uncirculated (MS-60) | Mint State (MS-65) |
|---|---|---|---|---|---|---|---|
| Type 1 | None | $0.10 | $0.20 | $0.50 | $1.00 | $2.00 | $10.00 |
| Type 2 | P | $0.50 | $1.00 | $2.00 | $3.00 | $5.00 | $20.00 |
| Type 1 | D | $0.20 | $0.50 | $1.00 | $2.00 | $4.00 | $15.00 |
| Type 2 | S | $0.50 | $1.00 | $2.00 | $3.00 | $5.00 | $25.00 |
Values are approximate and can fluctuate based on market demand.
Notable Varieties and Errors
Certain 1942 Jefferson Nickels are particularly sought after due to unique characteristics:
- 1942-D Over Horizontal D: This variety features a repunched mint mark where a horizontal “D” is visible beneath the primary “D.” In Mint State (MS-65), these coins can command prices up to $3,000.
- 1942-P Doubled Die Obverse: This error displays noticeable doubling on the obverse inscriptions. High-grade examples can be valued at over $1,000.
Collecting Tips
- Authentication: Due to the prevalence of counterfeits, especially concerning error coins, it’s crucial to have valuable specimens authenticated by reputable grading services.
- Condition Matters: Coins in higher grades (e.g., Mint State) are more desirable. Proper storage in protective holders can help maintain a coin’s condition.
- Stay Informed: Regularly consult updated numismatic guides and auction results to stay abreast of current market trends and valuations.
Conclusion
The 1942 Jefferson Nickel offers a rich tapestry of history, artistry, and numismatic intrigue. By focusing on key dates and rare varieties, collectors can build a meaningful and potentially valuable collection.
Whether you’re a seasoned numismatist or a novice enthusiast, the pursuit of these notable nickels can be both rewarding and educational.
FAQs
1. What distinguishes Type 1 and Type 2 1942 Jefferson Nickels?
Type 1 nickels have the standard cupronickel composition, while Type 2 nickels contain silver and feature a prominent mint mark above Monticello.
2. How can I identify a 1942-D Over Horizontal D nickel?
Look for a secondary, horizontal “D” mint mark beneath the primary “D” on the reverse side.
3. Are all 1942-P nickels made of silver?
No, only the Type 2 1942-P nickels contain silver. Type 1 1942-P nickels are composed of cupronickel and lack a mint mark.
4. What is the significance of the “P” mint mark on 1942 nickels?
The 1942-P Type 2 nickel was the first U.S. coin to feature the “P” mint mark, indicating production at the Philadelphia Mint.
5. Should I clean my 1942 Jefferson Nickels to enhance their value?
No, cleaning can reduce a coin’s value. It’s best to keep them in their original condition.
