Silver Set Melt Values Tumble 4.0% For The Week

Silver Set Melt Values tumbled 4.0% for the week as the silver market dropped under the $30 an ounce range for the first time this year since January. The London Fix for Silver for May 4, 2012 was $29.90 an ounce.

Silver has been posting declines for three weeks in a row now. Last week the precious metal ended down 2% with a 1.8% drop realized the week before that. However, this week’s decline of $1.24 an ounce is the largest of the three.

Precious Metals Prices
May 4 , 2012
London Fix
Weekly Change
Gold
$1,643.75
-$19.75
-1.2%
Silver
$29.90
-$1.24
-4.0%
Platinum
$1,530.00
-$6.00
-2.7%
Palladium
$663.00
-$14.00
-2.1%

 

As seen in the chart above, all four of the precious metals shown tread into negative territory for the week. Gold realized the smallest decline with a drop of just 1.2% with the aforementioned silver being the hardest hit with its decline of 4.0%.

Silver actually showed signs of improving on Monday as it rose $.06 from the previous Friday’s London Fix of $31.14 by coming in at $31.20 an ounce. However, from that point on the precious metal continued a slide for the rest of the week. The precious metal Fix for Tuesday was $30.78 an ounce, Wednesday was $30.52 an ounce, Thursday was $30.36 an ounce and finally Friday was the previously mentioned $29.90 an ounce.

Looking at the year as a whole finds silver still up 3.9% from its 2012 low established on January 3, 2012 of $28.78 an ounce. However, it has fallen now significantly (19.7%) from its 2012 high established on February 29, 2012 of $37.23 an ounce.

The chart below offers current coin melt values based on the Fix for Friday, May 4, 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)
$1.75
$1.68
Barber Dime (1892-1916)
$2.25
$2.16
Mercury Dime (1916-1945)
$2.25
$2.16
Roosevelt Dime (1946-1964)
$2.25
$2.16
Barber Quarter (1892-1916)
$5.63
$5.41
Standing Liberty Quarter (1916-1930)
$5.63
$5.41
Washington Quarter (1932-1964)
$5.63
$5.41
Barber Half Dollar (1892-1915)
$11.26
$10.81
Walking Liberty Half Dollar (1916-1947)
$11.26
$10.81
Franklin Half Dollar (1948-1963)
$11.26
$10.81
Kennedy Half Dollar (1964)
$11.26
$10.81
Kennedy Half Dollar (1965-1970)
$4.61
$4.42
Morgan Dollar (1878-1921)
$24.08
$23.13
Peace Dollar (1921-1935)
$24.08
$23.13
Eisenhower Dollar (1971-1976)
$9.84
$9.45
American Silver Eagle
$31.14
$29.90
America the Beautiful 5 Oz. Silver Coins
$155.70
$149.50

 

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

 

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