First Full Week of October Finds Silver Coin Melt Values Dropping 0.6%

US Silver Coin Melt Values fell slightly this week as the associated precious metal succumbed to downward pressure. The loss occurred despite early week gains which reversed trend on Wednesday.

American Silver Eagle

Silver Coin Melt Values, such as for this American Silver Eagle, dropped 0.6% this week

Based on a Friday to Friday comparison of the London Fix, silver lost 13¢ an ounce for the week. This equates to a drop of 0.6%. The London Fix for Silver for today, October 11, 2013 was $21.52 an ounce.

Precious Metals Prices
October 11 , 2013
London Fix Weekly Change
Gold 1,265.50 -$44.25 -3.4%
Silver $21.52 -$0.13 -0.6%
Platinum $1,369.00 -$17.00 -1.2%
Palladium $712.00 +$6.00 +0.8%

 

Of the four precious metals shown in the chart above, only palladium finished the week in positive territory. That precious metal rose $6 an ounce for a modest 0.8% increase. In the negative category, silver lost the smallest percentage with its 13¢ an ounce drop taking it down 0.6%. Platinum shed $17 per ounce decreasing its value by 1.2%. Gold was the hardest hit of the precious metals shaving $44.25 an ounce for a decline of 3.4%.

Silver had started the week off with some gains as Monday’s Fix came in at $21.77, up from last Friday’s $21.65. A larger jump occurred on Tuesday which came in with a Fix of $22.30 an ounce. Trends reversed on Wednesday as silver fell to $22.10 with another drop on Thursday to $21.93. Finally, Friday’s Fix finished the week at the aforementioned $21.52 an ounce.

Along with the precious metal, associated silver coin melt values also fell during the week. For example, the melt value of an American Silver Eagle (which contains one ounce of .999 fine silver) went from approximately $21.65 last Friday to $21.52 today.

When looking at the bigger picture, silver is still showing some strength as compared to the 2013 low. That low was set on June 27th when the Fix came in at $18.61 an ounce. Comparing today’s Fix with that low shows it is up $2.91 an ounce, or a gain of 15.6%.

On the negative side, the precious metal and melt values are still down from the 2013 high which was set on January 23rd. The high for the year so far was established at $32.23. Today’s Fix is then down $10.71 an ounce from that high, or -33.2%.

The chart below offers current US Silver Coin Melt Values based on the Fix for Friday, October 11, 2013, 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)
$1.22
$1.21
Barber Dime (1892-1916)
$1.57
$1.56
Mercury Dime (1916-1945)
$1.57
$1.56
Roosevelt Dime (1946-1964)
$1.57
$1.56
Barber Quarter (1892-1916)
$3.92
$3.89
Standing Liberty Quarter (1916-1930)
$3.92
$3.89
Washington Quarter (1932-1964)
$3.92
$3.89
Barber Half Dollar (1892-1915)
$7.83
$7.78
Walking Liberty Half Dollar (1916-1947)
$7.83
$7.78
Franklin Half Dollar (1948-1963)
$7.83
$7.78
Kennedy Half Dollar (1964)
$7.83
$7.78
Kennedy Half Dollar (1965-1970)
$3.20
$3.18
Morgan Dollar (1878-1921)
$16.74
$16.64
Peace Dollar (1921-1935)
$16.74
$16.64
Eisenhower Dollar (1971-1976)
$6.84
$6.80
American Silver Eagle
$21.65
$21.52
America the Beautiful 5 Oz. Silver Coins
$108.25
$107.60

 

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

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