August 2013 Gains End Multi-Month Slide in Silver Coin Melt Values

Double digit gains were realized this month in the silver market hoisting associated Silver Coin Melt Values up along with it. In fact, silver coin melt values earlier in the week were at levels not seen in over four months before a small slide in the market occurred at week’s end.

1954 Franklin Half Dollar

August silver coin melt values (such as for this 1954 Franklin Half Dollar) rose in August stopping a multi-month slide.

For August 2013, melt values were up 10.8% from a month ago. This is based off of the average London Fix for silver for August of $21.84 an ounce compared to July’s average of just $19.71.

This gain was good news for most as it put a stop to the slide seen in the silver market over the last ten consecutive months. The last time a monthly average showed a net gain over a previous month was in September of 2012.

The average London Fix for silver in August was $21.84 an ounce. Marking the low during the month was the 7th of August which had a Fix of just $19.27. The high came earlier this week when the London Fix rose to $24.74 an ounce.

The chart below shows the average London Fix for Silver for the last several months. It also shows the dollar change per ounce and the percentage increase or decrease from the previous period.

Average Monthly London Fix for Silver Comparison

 
Average London Fix
for Silver
$ Change
% Change
August 2013
$21.84
+$2.13
+10.8%
July 2013
$19.71
-$1.40
-6.7%
June 2013
$21.11
-$1.90
-8.3%
May 2013
$23.01
-$2.19
-8.7%
April 2013
$25.20
-$3.60
-12.5%
March 2013
$28.80
-$1.53
-5.0%
February 2013
$30.33
-$0.78
-2.5%
January 2013
$31.11
-$0.85
-2.7%
December 2012
$31.96
-$0.81
-2.5%
November 2012
$32.77
-$0.42
-1.3%
October 2012
$33.19
-$0.42
-1.2%
September 2012
$33.61
+$4.91
+17.1%
August 2012
$28.70
+$1.27
+4.6%
July 2012
$27.43
-$0.62
-2.2%
June 2012
$28.05
-$0.62
-2.2%

 

Looking at just the year in general finds today’s Fix up from the 2013 low set on June 27th of $18.61 an ounce. The math pencils out to the precious metal being up $5.03 an ounce from that low, or an increase of 27.0%.

On the flip side, silver is still down from the 2013 high established on January 23rd of $32.23 an ounce. Calculations here give the most recent London Fix a negative position of $8.59 an ounce from that high, or -26.7%.

As a specific silver coin melt value comparison, we can look at one of the Franklin Half Dollars. These coins (struck with 0.3617 ounces of silver) had an average melt value of $7.12 per coin in July but went up to an average of $7.90 in August.

Silver Coin Melt Values offers routinely updated silver market information and related melt values.

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