Why would anyone counterfeit a 1944 nickel?

You've got to remember that in 1954 a nickel could buy you a lot more than a nickel could today. Also, the metal value was much lower (unlike today where a nickel contains nearly 6 cents worth of metal!) meaning that if someone took the 75% copper and 25% nickel used to make a nickel it might only be worth 2-3 cents, leaving the counterfeiter to profit by 2 cents. In 1954 Francis Henning counterfeited several varieties of nickels such as nickels dated 1939, 1946, 1947 and 1953 and spent them for their face value. However Henning was caught because all genuine US nickels dated 1944 are made out of 35% silver and have a large P, D or S over the Monticello, something that Henning forgot to add when he counterfeited the nickels.

Today though, Henning nickels are collectable and the 1944 one is the most easily identified because of the lack of a mintmark over the Monticello and they have moderate value, ranging from $50-100 depending on current collector demand.

The love of money is the root of all evil.