Double Digit Gains Seen for Melt Values of Silver Coins in February

It was a very good month for silver and Silver Coin Melt Values in February as the precious metal made significant gains during the period.

1914 Barber Half Dollar

Melt values of US silver coins, such as this Barber Half Dollar, rose 10.2% in February

Silver ended February 2014 with a London Fix of $21.27 an ounce on the 28th. This was high enough to push the close to a double digit gain over where the white metal had ended the previous month.

At $21.27 an ounce, silver marked a $1.96 per ounce increase over January’s closing figure taking the precious metal to a gain of 10.2%. While that gain is significant, so is the fact that it was in positive territory at all.

The increase snapped a three-month streak of declines that began in November. More importantly, it marked the second largest increase for the precious metal in over a year and a half. 2013 saw only four months end in positive territory with just August’s 19.8% jump closing in double digits.

While sometimes contrary to end of month comparisons, monthly averages also posted gains in February (albeit at lower levels). The average London Fix in February was $20.83 per ounce held down by depressed conditions early in the month. Still, that average showed a gain of $0.92 an ounce from January resulting in an increase of 4.6%.

What is inspiring is the fact that the month did see higher values at one point. They led to higher average silver coin melt values in January as displayed in the chart below:

 

January 2014 – February 2014
Silver Coin Melt Value Comparisons

SILVER COIN
January 2014
Average Melt Value
February 2014
Average Melt Value
Jefferson Nickel (1942-1945)
$1.12
$1.20
Barber Dime (1892-1916)
$1.44
$1.54
Mercury Dime (1916-1945)
$1.44
$1.54
Roosevelt Dime (1946-1964)
$1.44
$1.54
Barber Quarter (1892-1916)
$3.60
$3.85
Standing Liberty Quarter (1916-1930)
$3.60
$3.85
Washington Quarter (1932-1964)
$3.60
$3.85
Barber Half Dollar (1892-1915)
$7.20
$7.69
Walking Liberty Half Dollar (1916-1947)
$7.20
$7.69
Franklin Half Dollar (1948-1963)
$7.20
$7.69
Kennedy Half Dollar (1964)
$7.20
$7.69
Kennedy Half Dollar (1965-1970)
$2.94
$3.15
Morgan Dollar (1878-1921)
$15.40
$16.45
Peace Dollar (1921-1935)
$15.40
$16.45
Eisenhower Dollar (1971-1976)
$6.29
$6.72
American Silver Eagle
$19.91
$21.27
America the Beautiful 5 Oz. Silver Coins
$99.55
$106.35

 

The above chart compares the melt value of silver coins on January 31, 2014 compared to the melt value of those same coins on February 28, 2014.

For informational purposes, the London market saw these increases in February for other precious metals:

  • Gold rose $75.50 an ounce to $1326.50 marking a monthly gain of 6%
  • Platinum in February jumped to $1455.00 an ounce, an increase of $73, or 5.3%
  • Palladium increased $39 an ounce to $746 equating to an increase of 5.5%

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

 

Copyright © 2013 MADU Enterprises LLC.

Content of SilverCoinMeltValues.net including all material and calculators is offered for informational purposes only and should not be construed as investment or financial advice of any sort. As such, MADU Enterprises LLC will not be liable for any errors, inaccuracies, omissions or potential financial loss or damages incurred by its use. Due diligence on the part of the reader should be undertaken before any financial decisions are made to avoid economic loss. No portion of SilverCoinMeltValues.net may be reproduced or copied without previous written permission. MADU Enterprises LLC reserves the right to change these terms at any time.