The 1945-S Jefferson Nickel is worth anywhere from $1.50 in heavily worn condition to over $100 or more in top mint state grades. If you found one of these old silver nickels in a jar, a drawer, or an inherited coin collection, you might be sitting on more than pocket change — especially if it’s in great shape.
Why the 1945-S Nickel Is Special
Most people don’t realize that Jefferson Nickels made during World War II — from 1942 to 1945 — were actually made with 35% silver. The government needed nickel for the war effort, so the U.S. Mint swapped it out for a silver-manganese-copper alloy. That makes these “war nickels” fundamentally different from the ones you’d find in your pocket change today.
The “S” mint mark on the 1945-S means it was struck at the San Francisco Mint. During this era, the mint mark was moved to the reverse (back) of the coin, above Monticello, making it easy to spot. A large “S” sitting above the building is your first clue that you’re holding a silver wartime nickel.
Because of their silver content, these coins have both numismatic (collector) value and melt value. Even a beat-up example is worth more than five cents just for the metal alone. If you’re not sure what you have, using the best coin identifier app can help you quickly confirm the date, mint mark, and approximate grade before you decide what to do with it.
1945-S Jefferson Nickel Value by Grade
The condition of your coin matters a lot when it comes to value. Coin collectors use a grading scale from 1 to 70, and even small differences in grade can mean big differences in price. Here’s a general breakdown of what the 1945-S nickel is worth across different grades:
| Grade | Condition | Estimated Value |
|---|---|---|
| G-4 (Good) | Heavy wear, outline visible | $1.50 – $2.00 |
| VF-20 (Very Fine) | Moderate wear, details clear | $3.00 – $5.00 |
| EF-40 (Extremely Fine) | Light wear on high points | $5.00 – $8.00 |
| MS-63 (Mint State) | Uncirculated, minor marks | $20 – $40 |
| MS-65 (Gem Uncirculated) | Sharp strike, great luster | $60 – $120+ |
For the most up-to-date auction results and dealer pricing, you can check live 1945-S Jefferson Nickel price data across mint state grades to see what collectors are actually paying right now. Markets shift, and silver prices affect the floor value of these coins regularly.
Full Steps — The Detail That Can Multiply Value
One of the most talked-about features in Jefferson Nickel collecting is the “Full Steps” designation. On the reverse of the coin, the steps leading up to Monticello should show five or six complete, uninterrupted horizontal lines. Coins that achieve this are called FS (Full Steps) coins, and they are significantly rarer and more valuable.
A 1945-S Jefferson Nickel with a Full Steps designation in MS-65 grade can sell for several hundred dollars — sometimes far more at auction. Most circulated coins won’t have this detail intact, but if you have an uncirculated example, it’s definitely worth having a professional take a close look.
The CoinHix app is one of the easiest tools for comparing prices on Full Steps examples versus non-FS examples, giving you a realistic picture of your coin’s potential value without needing to visit a dealer first.
Silver Melt Value and Why It Matters
Even if your 1945-S nickel is too worn to attract collector interest, it still contains real silver. Each war nickel contains approximately 0.05626 troy ounces of silver. With silver trading in the range of $25–$30 per troy ounce, that puts the melt value of a single coin somewhere around $1.40 to $1.70 — well above face value.
This is why you should never spend these coins as regular change. Even the most beat-up 1945-S wartime nickel is worth more than five cents in today’s silver market.
For a complete breakdown of how condition, mint marks, and silver all combine to determine what your coin is worth, the detailed 1945 nickel value guide at CoinValueApp walks you through every factor in plain, easy-to-understand language.
How to Check and Sell Your 1945-S Nickel
If you think you have a valuable example, start by examining it under good lighting. Look for sharp details in Jefferson’s hair, the lettering, and especially those steps on Monticello. Avoid cleaning the coin — even gentle cleaning can strip the surface and destroy collector value instantly.
From there, you have a few options. You can use CoinHix to get a fast price estimate based on current market data, submit the coin to a grading service like PCGS or NGC for professional authentication, or bring it to a local coin dealer for an in-person appraisal.
Whatever you decide, knowing what you have is the first step — and a 1945-S Jefferson Nickel is always worth more than a quick toss back into a jar.
—
Frequently Asked Questions
Q: Is the 1945-S Jefferson Nickel made of silver?
A: Yes. All Jefferson Nickels dated 1942 through 1945 with a mint mark above Monticello were made with 35% silver as part of a wartime metal conservation effort. The 1945-S is included in this group.
Q: How do I know if my 1945-S nickel is worth having graded?
A: If your coin looks uncirculated or shows sharp detail with no obvious scratches or wear, it may be worth grading. Coins that grade MS-64 or higher — especially with Full Steps — can be worth significantly more than raw, ungraded examples. CoinHix can give you a quick baseline estimate to help you decide.
Q: Where is the mint mark on a 1945-S Jefferson Nickel?
A: On wartime Jefferson Nickels (1942–1945), the mint mark was moved to the reverse side of the coin, appearing just above the dome of Monticello. For a 1945-S, you’ll see a large “S” in that position. This is different from earlier and later Jefferson Nickels, where the mint mark appears on the obverse near the date.
