Silver Set Melt Values Realize New 2012 Low Before End of Week Gain

Silver Set Melt Values dropped to a new 2012 low this week as the precious metal bottomed to prices not seen since last year. The precious metal displayed a strong last day recovery, however, to bring weekly silver comparisons back into the positive territory.

Despite the weekly gain for silver, the real news for the week is the new 2012 low established for the precious metal. It had a Thursday Fix of just $26.67 an ounce. The precious metal had not dropped so low since December 29, 2011 when the Fix had fallen to $26.16 an ounce. One has to look back to November of 2010 to find another Fix at a price lower than the recent $26.67.

For reference, the London Fix for Silver for today (July 13,2012) was $27.48 an ounce. Based on the Friday to Friday comparison, this places the precious metal up slightly at 0.6% compared to last week.

Precious Metals Prices
July 13, 2012
London Fix
Weekly Change
Gold
$1,595.50
+$8.50
+0.5%
Silver
$27.48
+$0.16
+0.6%
Platinum
$1,424.00
-$26.00
-1.8%
Palladium
$581.00
+$4.00
+0.7%

 

Of the four precious metals shown in the chart above, the only one to end the week down was platinum. It dropped $26.00 from last week’s Fix shedding 1.8%. The other three metals showed some positive gains for the week, albeit relatively minimal. Leading the pack was palladium with an increase of just 0.7%, it was followed by the aforementioned silver gain of 0.6% and finally gold, which increased 0.5%.

Silver showed some drastic drops during the week as well as strong increases. The London Fix on Monday was $27.24 an ounce, down $.08 from the previous Friday. It then increased to $27.57 on Tuesday followed by a decline on Wednesday to $27.11. Thursday dipped even further to the aforementioned $26.67 before Friday’s rally to $27.48 (a one day jump of $.81 or 3%)

As mentioned, the new 2012 low is now $26.67. It had been at $26.72 an ounce established a few week’s previous on June 25th. This places the new low down 0.2% from the previous bottom level.

The 2012 high for silver was set on February 29th at $37.23 an ounce. Comparing today’s Fix of $27.48 shows the precious metal down from that high by $9.75, or 26.2%.

The chart below offers current coin melt values based on the Fix for Friday, July 13, 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)
$1.54
$1.55
Barber Dime (1892-1916)
$1.98
$1.99
Mercury Dime (1916-1945)
$1.98
$1.99
Roosevelt Dime (1946-1964)
$1.98
$1.99
Barber Quarter (1892-1916)
$4.94
$4.97
Standing Liberty Quarter (1916-1930)
$4.94
$4.97
Washington Quarter (1932-1964)
$4.94
$4.97
Barber Half Dollar (1892-1915)
$9.88
$9.94
Walking Liberty Half Dollar (1916-1947)
$9.88
$9.94
Franklin Half Dollar (1948-1963)
$9.88
$9.94
Kennedy Half Dollar (1964)
$9.88
$9.94
Kennedy Half Dollar (1965-1970)
$4.04
$4.06
Morgan Dollar (1878-1921)
$21.13
$21.25
Peace Dollar (1921-1935)
$21.13
$21.25
Eisenhower Dollar (1971-1976)
$8.64
$8.69
American Silver Eagle
$27.32
$27.48
America the Beautiful 5 Oz. Silver Coins
$136.60
$137.40

 

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

 

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