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Melt Values of American Silver Coins and Sets Surge
September 7, 2012 by Darrin Lee Unser · Leave a Comment
Melt values of silver coins and sets are surging. Silver prices increased sharply Friday, September 7, 2012, as the precious metal soared to levels not seen in six months.
Melt Values for American silver coins and sets have soared in recent days
Spot silver prices raced to $33.68 an ounce in the afternoon. For comparison, that is up $1.46, or 4.5%, from the London Fix established earlier Friday morning. More impressive, it is 10.3% higher than the fixing from just one week ago.
These recent increases come on the heels of two straight months of rallying silver prices. August realized a 12.6% increase during the month followed by a more marginal increase of 1.1% in July. Previous to that period, the precious metal had seen four straight monthly declines.
Looking at the broader picture shows the precious metal up significantly for the year as a whole. The London Fix for silver on January 3, 2012 (the first trading day of the new year) was $28.78. Today’s spot equates to an increase of $4.90, or a 17%.
And along with the gains, melt values of silver coins and values of silver sets have soared. Offering a quick snapshot of the changes, check out the following table of silver coins and sets and their melt values contrasted between the two dates.
Melt Values for American Silver Coins and Sets
| Silver Coins | Coin Melt Values (Silver at $28.78 on Jan. 3, 2012) |
Coin Melt Values (Silver at $33.68 on Sept. 7, 2012) |
| 2012 Infantry Soldier Silver Dollar | $22.26 | $26.05 |
| 2012 Star-Spangled Banner Silver Dollar | $22.26 | $26.05 |
| 2012 American Silver Eagle | $28.78 | $33.68 |
| 2012 ATB Silver Quarter Proof Sets | $26.02 | $30.45 |
| 2012 Silver Proof Sets | $38.51 | $45.07 |
| America the Beautiful Five Ounce Silver Coins | $143.90 | $168.40 |
| 1942-1945 Jefferson Nickels | $1.62 | $1.89 |
| 1916-1945 Mercury Dimes | $2.08 | $2.44 |
| 1946-1964 Roosevelt Dimes | $2.08 | $2.44 |
| 1932-1964 Washington Quarters | $5.20 | $6.09 |
| 1916-1947 Walking Liberty Half Dollars | $10.41 | $12.18 |
| 1948-1963 Franklin Half Dollars | $10.41 | $12.18 |
| 1964 Kennedy Half Dollars | $10.41 | $12.18 |
| 1965-1970 Kennedy Half Dollars | $4.26 | $4.98 |
| 1878-1921 Morgan Dollars | $22.26 | $26.05 |
| 1921-1935 Peace Dollars | $22.26 | $26.05 |
| 1971-1976 Silver Ike Dollars | $9.10 | $10.65 |
American circulating coins pre-1965, with the exception of the penny, were struck from 90% silver. Adjusting for wear and tear in circulation, each $10 face value of those pre-1965 coins equates to approximately 7.15 ounces of silver.
The recent increase in silver has also resulted in a smaller premium for U.S. Mint silver products produced for coin collectors. For instance, the Mint is currently charging $54.95 for the 2012-W Proof American Silver Eagle coin. With the precious metal at $33.68 an ounce, the premium for the Eagle is down to $21.27 above its intrinsic melt value.
In the past, the U.S. Mint has halted sales of silver-containing products following large swings in the market. The products are then offered again after price adjustments have been made to better reflect current market conditions, or returned to availability at their previous prices if the market returns to previous levels. As of this writing, the U.S. Mint has not halted any silver product sales.
Make sure to check out this site’s melt value guides for coins from other countries.
