From the QDB Nickel book—did the silver wartime Jeffersons really help the war effort?
I was reading the new QDB book on Jefferson and Buffalo nickels. Like others, I assumed that there was a massive shortage of nickel during the WWII years, and one of the ways to conserve the metal was to switch Jefferson nickels to a copper/silver/manganese alloy. Because I was not alive back then, I just assumed that the story was true (as an aside, my grandparents and parents, actually, still reuse tin foil. I try to tell them that WWII is over, but to no avail).
Here is a quote from the book, which is pretty interesting:
“In an insightful article from The Numismatist in 2000, Mark A. Benvenuto, a chemistry professor, provided data suggesting that about 827,163 pounds of nickel metal might have been saved by the alloy switch, but “statistically, this figure is pretty insignificant” in view of about 300 million pounds of nickel produced annually during World War II, about 60% of which was available for use of the Allies.”
Further, Benvenuto stated in the article, “If the savings afforded by changing the composition of the 5 cent piece was so minimal, why did the Mint even bother? My theory is that the action was intended simply to be a morale booster. Every time John Q. Public saw the enlarged mintmark atop Monticello, he knew that even the US Mint was doing its part for the war effort. … It appears that the United States was in little danger of running out of nickel for coins or the manufacture of steel. It would also seem that the Mint was willing and able to do its duty by doing without.”
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I never heard of this theory before. What do you think about it? The book indicates that no official records corroborate it (or discredit it), but contemporary figures for worldwide nickel production tend to support it.
Here is a quote from the book, which is pretty interesting:
“In an insightful article from The Numismatist in 2000, Mark A. Benvenuto, a chemistry professor, provided data suggesting that about 827,163 pounds of nickel metal might have been saved by the alloy switch, but “statistically, this figure is pretty insignificant” in view of about 300 million pounds of nickel produced annually during World War II, about 60% of which was available for use of the Allies.”
Further, Benvenuto stated in the article, “If the savings afforded by changing the composition of the 5 cent piece was so minimal, why did the Mint even bother? My theory is that the action was intended simply to be a morale booster. Every time John Q. Public saw the enlarged mintmark atop Monticello, he knew that even the US Mint was doing its part for the war effort. … It appears that the United States was in little danger of running out of nickel for coins or the manufacture of steel. It would also seem that the Mint was willing and able to do its duty by doing without.”
*********************
I never heard of this theory before. What do you think about it? The book indicates that no official records corroborate it (or discredit it), but contemporary figures for worldwide nickel production tend to support it.
Always took candy from strangers
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
0
Comments
was to use up silver that had gotten down as low as 28c / OZt only seven years
earlier at the time the peace dollar went out of production. Manganese is, and was,
plentiful. While nickel was important, it was less important than copper which was
nearly unaffected by this switch. Nickel has never had very many important uses
except as alloy for stainless steel. There would be no dramatic increases in stainless
demand as a result of the war. I believe there are a few critical airplane parts that
required stainless but these would have been small parts.
This would imply that saving nickel was actually a tertiary reason for the switch. The
addition of manganese to the alloy and addition of large mint mark would assure peo=
ple noticed this change, which was likely the primary reason.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Do you guys actually believe the general public took the time to notice a new mintmark location and size? These are the same people that confused the SBA dollar with the quarter. >>
The manganese assured it would darken quickly. Cu/ Ag tends to darken as
well, but not so quickly. Of course the high manganese helped displace copper
which was more important for the war effort.
The mint mark change was relatively minor compared to all the other changes.
provided data suggesting
My theory is..........
yeah, let's replace one supposed myth with another, right??
<< <i>
<< <i>Do you guys actually believe the general public took the time to notice a new mintmark location and size? These are the same people that confused the SBA dollar with the quarter. >>
The manganese assured it would darken quickly. Cu/ Ag tends to darken as
well, but not so quickly. Of course the high manganese helped displace copper
which was more important for the war effort.
The mint mark change was relatively minor compared to all the other changes. >>
I think the manganese was used to get the right signature for the vending machine industry, too.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
<< <i>I think the manganese was used to get the right signature for the vending machine industry, too. >>
Not likely considering the coin mechanisms of the day were strictly mechanical.
<< <i>Of course the high manganese helped displace copper
which was more important for the war effort. >>
The lower denity manganese would have been used to offset the higher density silver. If the coin had been just copper and silver the specific gravity would have been too high and a coin the same size as the current nickel would have weighed too much and been rejected by vending machines. If they made it the same weight, it would have been smaller than the nickel and again the machines would reject it. By including the lowerdensity manganese they balance the specific gravity and get a coin of the same size and weight as the current nickel.
Back in 1942 they didn't have the privilege that we do of seeing those events in hindsight. They did not know if we were going to win the war or not. The war was for their very existence and any measure that will help in any amount is well worth while. Including saving a relatively small amount of nickel from our coinage.
The people of that generation knew sacrifice intimately and they knew the consequences of not being willing to make those sacrifices were far worse than the sacrifices themselves.
==Looking for pre WW2 Commems in PCGS Rattler holders, 1851-O Three Cent Silvers in all grades
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<< <i>That's how I interpreted Longacre's use of the word 'signature.' >>
Yeah but why use only one word if you can type a whole paragraph?
<< <i>I think Cladiator has a point. The government would not not to use any extra material, because of the risk of supply interruption and the resources needed to mine nickel domestically could be deployed elsewhere. And, the amounts needed would not be known, as no one knew how long the war would last. In a fight for survival, using the metal in coins would be an unnessary risk to take.
Coins would still be available as a resource.
Scrap drives in WWII were highly effective at recovering all sorts of scrap. Large
percentages of many telephone tokens were destroyed. This applied to various
other sorts of tokens as well. Coins could simply be recalled from the banks and
Fed and would recieve huge cooperation from the public.
I'm sure no one meant to imply there was something wrong with changing the alloy,
merely that the announced reasons were not the most important reasons.
TD
<< <i>According to documents relating to the planned 1942 half dime, it was copper that was the most critical material. The war control board changed its list of metals frequently and the mint was trying to find cent and nickel alloys that did not contain strategic metals - or at least minimized their use. The new alloy for the five cent coin was a compromise so that the coins weight and size would be close enough to the CuNi alloy to maintain public confidence and also work in vending machines. BTW the manganese had to be electrolytic. >>
Leave it to RWB to provide an authoritative response, supported by source documents.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
<< <i>According to documents relating to the planned 1942 half dime, it was copper that was the most critical material. The war control board changed its list of metals frequently and the mint was trying to find cent and nickel alloys that did not contain strategic metals - or at least minimized their use. The new alloy for the five cent coin was a compromise so that the coins weight and size would be close enough to the CuNi alloy to maintain public confidence and also work in vending machines. BTW the manganese had to be electrolytic. >>
Use of copper in 1943 niclels was significantly higher than the last full year
of peace in 1940, and had doubled each of the previous two years. It was
nearly as great as in 1941 when the economy was barely beginning to get
on a war footing. And perhaps more importantly, there was no great in-
crease in the use of copper after the war was over. By the late '40's copper
usage was plummeting in both cents and nickels.
These things can not be looked at in a vacuum. The recovering economy re-
quired a specific number of coins or the economy would be affected. If cop-
per or nickel were so vital a war material then coinage could have been made
without them. All over Europe and the world there were coins being made
of metals that were non-traditional and the same thing occurred in WW I to
a much lesser extent. A silver half dime would have saved large amounts of
copper.
Nickel has long been vital for relatively few applications. It's unlikely that
there were vast stockpiles of it in the '40's any more than there are today.