Middle October Sees Silver Coin Melt Values Rise 1.6%

It was a positive week for precious metals as the associated markets chalked up some significant gains based on a comparison of the Friday to Friday London Fix. These increases occurred mostly late in the week despite softer market conditions on Monday and Tuesday. As such, associated US Silver Coin Melt Values also rose.

America the Beautiful 5 Ounce Silver Coin

Melt Values of America the Beautiful Five Ounce Silver Coins, like this Yellowstone Coin, rose 1.6% this week

For example, silver rose a respectable 1.6% for the Friday to Friday comparison after gaining 35¢ an ounce. The London Fix for Silver for today, October 18, 2013 was $21.87 an ounce.

Precious Metals Prices
October 18, 2013
London Fix Weekly Change
Gold 1,316.50 +$51.00 +3.9%
Silver $21.87 +$0.35 +1.6%
Platinum $1,438.00 +$69.00 +5.0%
Palladium $737.00 +$25.00 +3.5%

 

As shown in the chart above, precious metals showed gains across the board. Of those gains, the aforementioned silver increase of 1.6% was the smallest. Palladium jumped by 3.5% with a $25 per ounce increase. Gold gained 3.9%, increasing $51 per ounce. However, the biggest winner was platinum which improved $69 per ounce, or a jump up of 5%.

Silver started Monday off with a flat London Fix of $21.52, the same Fix seen for the previous Friday. It fell significantly on Tuesday down to $20.49 before recouping some of that loss on Wednesday with a Fix of $21.32. Gains were made again on Thursday up to $21.72 before Friday’s last bump up to $21.87 per ounce.

At $21.87, associated silver coin melt values tread into positive territory as well based on the weekly comparison. For example, an America the Beautiful Five Ounce Silver Coin had an approximate melt value of $107.60 last week Friday. That same coin’s melt value rose to $109.35 this week Friday.

While the recent weekly gain in silver coin melt values is impressive on its own, it is even more impressive when compared to the 2013 low. That low came in on June 27th with a Fix of $18.61 an ounce. Comparing that low to today’s Fix finds a gain of $3.26, or +17.5%.

The market still has room to grow if it wants to meet the 2013 high, however. That high was set on January 23rd with a London Fix of $32.23. The math on this comparison shows today’s Fix down $10.36 from that high, or negative 32.1%.

The chart below offers current US Silver Coin Melt Values based on the Fix for Friday, October 18, 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)
$1.21
$1.23
Barber Dime (1892-1916)
$1.56
$1.58
Mercury Dime (1916-1945)
$1.56
$1.58
Roosevelt Dime (1946-1964)
$1.56
$1.58
Barber Quarter (1892-1916)
$3.89
$3.95
Standing Liberty Quarter (1916-1930)
$3.89
$3.95
Washington Quarter (1932-1964)
$3.89
$3.95
Barber Half Dollar (1892-1915)
$7.78
$7.91
Walking Liberty Half Dollar (1916-1947)
$7.78
$7.91
Franklin Half Dollar (1948-1963)
$7.78
$7.91
Kennedy Half Dollar (1964)
$7.78
$7.91
Kennedy Half Dollar (1965-1970)
$3.18
$3.23
Morgan Dollar (1878-1921)
$16.64
$16.92
Peace Dollar (1921-1935)
$16.64
$16.92
Eisenhower Dollar (1971-1976)
$6.80
$6.91
American Silver Eagle
$21.52
$21.87
America the Beautiful 5 Oz. Silver Coins
$107.60
$109.35

 

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

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