Coin Melt Values in May 2014 Drop as Silver Loses Ground

A continued slump in the silver market has now extended into three months bringing the melt values of silver coins down along with it. The London Fix for silver ended May 2014 down 1.4% from its position at the end of April.

Silver Coin Melt Values (like for this America the Beautiful Five Ounce Coin) fell in May

Silver Coin Melt Values (like for this America the Beautiful Five Ounce Coin) fell in May

That loss was based on a Fix of $19 an ounce on the 30th (the last trading day of the month). This equates to a decline of 28 cents from the end of April which closed at $19.28.

Averages in May were also down in our comparisons. May versus April averages showed a drop of 35 cents equaling a difference of -1.8%.

As mentioned, the silver market has now realized deficits for three months in a row. The last month the market showed a gain was February. Since then, the precious metal has hemorrhaged $2.27 an ounce, losing 10.7% in those three months.

For the year, the white metal is only down 50 cents however, or a dip of just 2.6% based on the most recent Fix of $19 an ounce compared to the December 31, 2013 Fix of $19.50.

The gains seen earlier in the year of January and double-digit increases in February have been wiped out though.

As mentioned, the market’s losses also translated to associated silver coin melt values. Comparisons of those losses are offered in the chart below:

 

Monthly Silver Coin Melt Value Comparisons

SILVER COIN
End of April 2014
Melt Value
End of May 2014
Melt Value
Difference
Jefferson Nickel (1942-1945)
$1.08
$1.07
-$0.01
Barber Dime (1892-1916)
$1.39
$1.37
-$0.02
Mercury Dime (1916-1945)
$1.39
$1.37
-$0.02
Roosevelt Dime (1946-1964)
$1.39
$1.37
-$0.02
Barber Quarter (1892-1916)
$3.49
$3.44
-$0.05
Standing Liberty Quarter (1916-1930)
$3.49
$3.44
-$0.05
Washington Quarter (1932-1964)
$3.49
$3.44
-$0.05
Barber Half Dollar (1892-1915)
$6.97
$6.87
-$0.10
Walking Liberty Half Dollar (1916-1947)
$6.97
$6.87
-$0.10
Franklin Half Dollar (1948-1963)
$6.97
$6.87
-$0.10
Kennedy Half Dollar (1964)
$6.97
$6.87
-$0.10
Kennedy Half Dollar (1965-1970)
$2.85
$2.81
-$0.04
Morgan Dollar (1878-1921)
$14.91
$14.70
-$0.21
Peace Dollar (1921-1935)
$14.91
$14.70
-$0.21
Eisenhower Dollar (1971-1976)
$6.09
$6.01
-$.08
American Silver Eagle
$19.28
$19.00
-$0.28
America the Beautiful 5 Oz. Silver Coins
$96.40
$95.00
-$1.40

 

The above chart compares the London Fix for silver at the end of April 2014 versus May 2014

The London market saw these other precious metal results in May 2014:

  • Gold closed May at $1,250.50 an ounce falling $38, or -2.9%
  • Palladium rose during the month to $836 an ounce gaining $33 or an increase of 4.1%
  • Platinum also rose in May to $1464 an ounce, up $40 with a jump up 2.8%

To find the values of your own coin collection, visit this site’s silver coin melt values calculator.

 

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