August Starts Off With Silver Set Melt Values Declining 1.7%

Silver Set Melt Values are down in the first few days of August based on weekly London Fix comparisons. Silver shed $0.48 looking at just the Friday to Friday Fix, or a decline of 1.7%.

This drop negates a significant portion of the 2.4% increase realized by the precious metal last week. For reference, the London Fix for Silver for this Friday, August 3, 2012 was $27.25 an ounce.

Precious Metals Prices
August 3, 2012
London Fix
Weekly Change
Gold
$1,602.00
-$16.25
-1.0%
Silver
$27.25
-$0.48
-1.7%
Platinum
$1,390.00
-$20.00
-1.4%
Palladium
$573.00
-$1.00
-0.2%

 

As shown in the chart above, all four precious metals listed saw declines for the week. Hardest hit among the four metals was silver with its aforementioned 1.7% drop. It was followed by platinum with a 1.4% decline, then gold which shed an even 1%. Least affected among the four was palladium which only dropped $1 for the week, or 0.2%.

Looking more closely at just silver shows the precious metal actually indicated some strength earlier in the week. It did start Monday off with a decline of $0.09 from the previous Friday’s Fix of $27.73 an ounce, but followed that small decrease with an admirable jump up to $28.20 on Tuesday. That gain was cut hard on Wednesday when the Fix came in at $27.87 and completely eroded (and then some) by Thursday which had a Fix of $27.42. The precious metal dropped even further on Friday with a Fix of $27.25.

Friday’s Fix now places the precious metal up just $0.58 from the 2012 low of $26.67 established last month on July 12th. This equates to being up just 2.2% from that low.

Looking at the opposite end of the spectrum shows silver down significantly from the 2012 high established on February 29th with a London Fix of $37.23. Calculating it out shows the precious metal down almost $10 from that high (actually $9.98) or 26.8%.

The chart below offers current coin melt values based on the Fix for Friday, August 3, 2012, and a comparison to those values based on last week’s silver price.

Weekly Silver Coin Melt Value Comparisons

SILVER COIN
Last Week’s Silver Melt Value
This Week’s Silver Melt Value
Jefferson Nickel (1942-1945)
$1.56
$1.53
Barber Dime (1892-1916)
$2.01
$1.97
Mercury Dime (1916-1945)
$2.01
$1.97
Roosevelt Dime (1946-1964)
$2.01
$1.97
Barber Quarter (1892-1916)
$5.01
$4.93
Standing Liberty Quarter (1916-1930)
$5.01
$4.93
Washington Quarter (1932-1964)
$5.01
$4.93
Barber Half Dollar (1892-1915)
$10.03
$9.86
Walking Liberty Half Dollar (1916-1947)
$10.03
$9.86
Franklin Half Dollar (1948-1963)
$10.03
$9.86
Kennedy Half Dollar (1964)
$10.03
$9.86
Kennedy Half Dollar (1965-1970)
$4.10
$4.03
Morgan Dollar (1878-1921)
$21.45
$21.08
Peace Dollar (1921-1935)
$21.45
$21.08
Eisenhower Dollar (1971-1976)
$8.77
$8.61
American Silver Eagle
$27.73
$27.25
America the Beautiful 5 Oz. Silver Coins
$138.65
$136.25

 

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

 

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