Silver Coin Melt Value Averages Rise in September With End of Month Values Falling

September ended up being a contrary month when it comes to the silver market. If we look at the average price of silver during September, we see that the precious metal showed gains when comparing that average to August’s.

1922 Peace Dollar

Average US silver coin melt values, like for this 1922 Peace Dollar, rose in September

However, if we just look at the end of the month values, a significant loss was shown by the market. As such, those interested in the Melt Values of US Silver Coins will either be pleased or upset by the opposing figures.

On the positive side, silver’s average in September returned as $22.56 per ounce when combining the London Fix for each day of the month. This was up 72.55¢ from the average the previous month and marked a gain of 3.3% based on those averages.

Conversely, end of month results were down. The last trading day for silver in September was the 30th and the precious metal had a Fix of $21.68 per ounce. In August, the last trading day was also the 30th when the Fix came in at $23.64 an ounce. Comparing the two finds the end of month silver Fix was down $1.96 per ounce, or a decline of 8.3%.

This dissimilarity is owed to the fact that silver traded in higher territory early in September. It rose as high as $24.21 an ounce on the 3rd. That high point was short-lived, however, as the precious metal continued a slide quickly down into the high $21 range which it could not climb out of for more than a couple of days.

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
September 2013
$22.56
+$0.73
+3.3%
August 2013
$21.84
+$2.13
+10.8%
July 2013
$19.71
-$1.40
-6.7%
June 2013
$21.11
-$1.90
-8.3%
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%

 

When looking at averages, precious metals were split for the month. Silver’s 3.3% increase led the upward charge with gold rising a much more modest 0.1% with its 70¢ per ounce increase. Losing ground based on the averages was platinum which fell $37.24 per ounce, or down 2.5%. Palladium lost a bigger percentage with a $31.43 per ounce drop, or a decline of 4.2%.

Based on the averages, US Silver Coin Melt Values were up in September. For example, a 1921-1935 Peace Dollar had an average value of just $16.89 in August. That value rose to $17.45 per coin in September.

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

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