Silver Coin Melt Values Drop 3% During Week

Silver Coin Melt Values are now in their seventh weekly decline in a row owing to a continued slump in the silver market. This week’s drop was -3% with the London Fix for Silver for Friday, June 1, 2012 coming in at $27.38 an ounce.

Based solely on the Friday to Friday London Fix, silver has been down since April 20th. The week before that, the precious metal showed a 3.5 jump when the London Fix came in at $32.365 per ounce on April 13th. Silver has not had a London Fix that high since.

Precious Metals Prices
June 1, 2012
London Fix
Weekly Change
Gold
$1,606.00
+$36.50
+2.3%
Silver
$27.38
-$0.86
-3.0%
Platinum
$1,407.00
-$16.00
-1.1%
Palladium
$607.00
+$17.00
+2.9%

 

As the chart above shows, the four precious metals listed were split for the week. Both gold and palladium realized increases with silver and platinum showing declines. The best improvement was seen in palladium with its 2.9% weekly jump. Hardest hit was the aforementioned silver slide down 3%.

Monday’s silver spot came in at $28.52 an ounce,up from the previous Friday’s $28.24. That daily increase was almost all lost on Tuesday when the Fix came in at $28.25. Wednesday showed a larger drop to $27.68 before Thursday’s increase to $28.10. All of this led to Friday’s aforementioned Fix of $27.38 an ounce. (It should be noted that in the hours after the Fix was announced, silver started showing some aggressive increases.)

The 2012 low for silver occurred a few weeks ago on May 16th with a Fix of $27.25 an ounce. This places this Friday’s Fix just 0.48% above that yearly low.

Silver this Friday is now down $9.85 (or 26.5%) from its 2012 high established on February 29, 2012. On that day, the Fix came in at $37.23 an ounce.

The chart below offers current coin melt values based on the Fix for Friday, June 1, 2012, 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)
$1.59
$1.54
Barber Dime (1892-1916)
$2.04
$1.98
Mercury Dime (1916-1945)
$2.04
$1.98
Roosevelt Dime (1946-1964)
$2.04
$1.98
Barber Quarter (1892-1916)
$5.11
$4.95
Standing Liberty Quarter (1916-1930)
$5.11
$4.95
Washington Quarter (1932-1964)
$5.11
$4.95
Barber Half Dollar (1892-1915)
$10.21
$9.90
Walking Liberty Half Dollar (1916-1947)
$10.21
$9.90
Franklin Half Dollar (1948-1963)
$10.21
$9.90
Kennedy Half Dollar (1964)
$10.21
$9.90
Kennedy Half Dollar (1965-1970)
$4.18
$4.05
Morgan Dollar (1878-1921)
$21.84
$21.18
Peace Dollar (1921-1935)
$21.84
$21.18
Eisenhower Dollar (1971-1976)
$8.93
$8.65
American Silver Eagle
$28.24
$27.38
America the Beautiful 5 Oz. Silver Coins
$141.20
$136.90

 

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

 

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