"Nickels" containing silver nickel were minted from late 1942 till the end of 1945.
Nickel was needed for the war effort so during 1942 it was removed from the nickel. The War Nickel composition was 56% copper, 35% silver and 9% manganese. This transition took place during the mintage year so there are many 1942 nickels without silver in them. The mint mark for each mint was made larger and placed on the reverse side of the coin above Monticello to show the change in composition. The letter "P" was used for Philadelphia issues for the first time on any coin.
When new, the coins looked very similar to their copper-nickel cousins, unlike the zinc-coated steel cents issued in 1943 that were often confused with dimes. However after a small amount of wear the silver and manganese components tarnished severely and the coins turned an unpleasant dark gray.
At the end of 1945, nickel was again available for coinage and the composition returned to 75% copper and 25% nickel. Mint marks were moved back to the then-customary position to the right of Monticello, and the use of a P for Philadelphia was stopped until 1980.
Regardless of popular misconceptions, NO other US nickels contain any silver; they're all composed of an alloy of 75% copper and 25% nickel. The only other US five-cent coin that ever contained silver was an obsolete denomination called a half-dime that was discontinued in 1873.
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The only time US nickels were silver was from 1942-1945. They contain 40% silver. They have a metal value of around 2 dollars.
1942 to 1945
The only US nickels that contain any silver were minted in late 1942 through 1945. These "War Nickels" are identified by a large mintmark above the dome of Monticello.
The U.S. stopped minting silver half-dimes in 1873, a few years after the introduction of the nickel. The only nickels that actually contain silver are "war" nickels minted 1942-1945.
Silver was only used in nickels from 1942-1945 on coins with a large mintmark over the Monticello (some nickels in 1942 do not have the large mintmark and are of the standard composition), these coins are 35% silver. All other nickels are 75% copper and 25% nickel.