May 2013 Marks 8th Month of Lower Melt Values for US Silver Coins

Silver enthusiasts were forced to bear another tough month in May 2013 as the precious metal realized a significantly lower average price per ounce than it had in April. Unfortunately, this also means that the melt values for US silver coins fell during the month.

2013 White Mountain National Forest 5 Oz Silver Uncirculated Coin

US Melt Values for Silver Coins (such as the White Mountain Five Ounce Silver Uncirculated Coin) Fell For the Eighth Consecutive Month in May

Silver averaged just $23.01 an ounce during May. This was down $2.19 an ounce from the average the previous month, or a drop of 8.7%.

As if the one month decline was not discouraging in its own right, the drop marked the eighth consecutive in which the average price per ounce fell. The last time a monthly average showed improvement over the previous period was in September 2012.

The chart below shows the average London Fix for Silver for the last several months. It also shows the dollar change per ounce and the percentage increase or decrease from the previous period.

Average Monthly London Fix for Silver Comparison

 
Average London Fix
for Silver
$ Change
% Change
May 2013
$23.01
-$2.19
-8.7%
April 2013
$25.20
-$3.60
-12.5%
March 2013
$28.80
-$1.53
-5.0%
February 2013
$30.33
-$0.78
-2.5%
January 2013
$31.11
-$0.85
-2.7%
December 2012
$31.96
-$0.81
-2.5%
November 2012
$32.77
-$0.42
-1.3%
October 2012
$33.19
-$0.42
-1.2%
September 2012
$33.61
+$4.91
+17.1%
August 2012
$28.70
+$1.27
+4.6%
July 2012
$27.43
-$0.62
-2.2%
June 2012
$28.05
-$0.62
-2.2%

 

This continual slide down has taken its toll on the melt values of silver coins. For instance, using the average London Fix for silver in May finds an America the Beautiful 5 Oz. Silver Coin had an approximate melt value of only $115.05 (five ounces times $23.01 an ounce equals $115.05).

For comparison, the highest silver reached in 2012 was $37.23 an ounce on February 29th. At that point, the melt value of the five ounce coin was $186.15. The continued depression of the silver market has eroded the melt value of the coin by $71.10 over the last fifteen months, or a drop of 38.2%.

The decline has also affected the retail price points of several US Mint products which contain silver. Most recently, some silver sets including the 2013 US Silver Proof Set, 2012 – 2013 America the Beautiful Quarters Silver Proof Sets and the 2013 Congratulations Set were re-priced to account for the change.

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

 

Speak Your Mind

*

 

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.