Higher Silver Coin Melt Value Averages Seen In January Before Drop By Month’s End

January 2014 saw the average price of silver rise when compared to the previous month. This stands in contrast, however, to an end of month comparison which yields negative results.

1971 Eisenhower Dollar

Silver coin melt values, such as for this 1971 Eisenhower Silver Dollar, rose on average in January

Along with that, associated  Silver Coin Melt Values also saw gains in monthly averages but declines when comparing the last trading day of the two months. More details on the silver coin melt values is detailed further on.

As for the precious metal, it ended January at $19.31 an ounce according to the London Fix. This Fix of the 31st of the month also happened to be the lowest Fix that silver posted all of January.

At $19.31, silver shed 19¢ from its position at the end of December. This equates to a decline of just under 1%.

Comparing the averages of the two months tells a different story. The average London Fix for December came in at $19.61 an ounce. In comparison, January was up significantly with an average of $19.91 per ounce. This was a 30¢ per ounce increase, or a jump of 1.5%.

Those gains were the result of a stronger silver market mid-month. The precious metal traded as high as $20.29 per ounce before falling 98¢ by month’s end.

January is not alone in its negative result. 2013 saw predominantly downward monthly returns with eight of the months posting negative results.

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:

 

December 2013 – January 2014
Silver Coin Melt Value Comparisons

SILVER COIN
December 2013
Average Melt Value
January 2014
Average Melt Value
Jefferson Nickel (1942-1945)
$1.10
$1.12
Barber Dime (1892-1916)
$1.42
$1.44
Mercury Dime (1916-1945)
$1.42
$1.44
Roosevelt Dime (1946-1964)
$1.42
$1.44
Barber Quarter (1892-1916)
$3.55
$3.60
Standing Liberty Quarter (1916-1930)
$3.55
$3.60
Washington Quarter (1932-1964)
$3.55
$3.60
Barber Half Dollar (1892-1915)
$7.09
$7.20
Walking Liberty Half Dollar (1916-1947)
$7.09
$7.20
Franklin Half Dollar (1948-1963)
$7.09
$7.20
Kennedy Half Dollar (1964)
$7.09
$7.20
Kennedy Half Dollar (1965-1970)
$2.90
$2.94
Morgan Dollar (1878-1921)
$15.17
$15.40
Peace Dollar (1921-1935)
$15.17
$15.40
Eisenhower Dollar (1971-1976)
$6.20
$6.29
American Silver Eagle
$2.90
$19.91
America the Beautiful 5 Oz. Silver Coins
$98.05
$99.55

 

If nothing else, the average comparison gives hope that the silver market and silver coin melt values will rally from 2013 which saw percentages fall over one-third during the year.

A quick look at other precious metal averages in the London Market:

  • Gold rose to $1244.80 an ounce average, an increase of $19.40 from December – a gain of 1.6%
  • Platinum realized a gain to $1423.18 an ounce with a bump up of $64.46, or 4.7%
  • Palladium increased to $434.14 an ounce average, up $14.31, or 3.4%

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

 

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