US Silver Coin Melt Values Bump Up Half Percent Higher Mid-March

The Ides of March proved to be positive for the silver market resulting in slight increases for the related US silver coin melt values. With a last day jump higher, the coin melt values gained 0.5% for the week comparing the Friday to Friday London Fix for silver.

1921 Morgan Dollar

US Silver Coins, such as this Morgan Dollar, realized higher melt values this week

That half of a percent for the middle of March was based on the precious metal increasing a relatively minor $0.13 an ounce over the Fix of last Friday. The London Fix for silver for today, March 15, 2013 was $28.91 an ounce.

Precious Metals Prices
March 15, 2013
London Fix Weekly Change
Gold 1,595.50 +$13.75 +0.9%
Silver $28.91 +$0.13 +0.5%
Platinum $1,593.00 +$5.00 +0.3%
Palladium $774.00 +$5.00 +0.7%

 

It was a positive week overall for precious metals, as shown in the chart above. All four of the metals gained, albeit only slight. Leading in the gains was gold which went up $13.75 an ounce for the week, or 0.9%. Following gold was palladium which improved 0.7% trailed by silver’s 0.5% increase. Showing the smallest gain was platinum with a bump up of 0.3%.

Looking at the daily Fix for silver shows it had both gains and losses during the week. Monday’s Fix came in at $28.90, up from the previous Friday’s $28.78. On Tuesday it jumped to $29.25 (which stands as the monthly high) before it fell slightly on Wednesday to $29.12. A large drop occurred on Thursday with a Fix of $28.64 before Friday’s increase to $28.91 an ounce.

At $28.91 an ounce, a 90% silver dollar such as one of the 1878-1921 US Morgan dollars would have a melt value of approximately $22.36 (they contain 0.77344 ounces of silver). For comparison, that same US Morgan dollar would have had an approximate melt value of $22.26 last week Friday.

Today’s Fix of $28.91 an ounce is down more than $3 from the 2013 high of $32.23 an ounce set on January 23rd of. It is exactly $3.32 down from that high, or -10.3%.

The low for the year was set on the first of March when the Fix came in at $28.01 an ounce. Silver is now up a notable $0.90, or 3.2%, from that low.

The chart below offers current US Silver Coin Melt Values based on the Fix for Friday, March 15, 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) $1.62 $1.63
Barber Dime (1892-1916) $2.08 $2.09
Mercury Dime (1916-1945) $2.08 $2.09
Roosevelt Dime (1946-1964) $2.08 $2.09
Barber Quarter (1892-1916) $5.20 $5.23
Standing Liberty Quarter (1916-1930) $5.20 $5.23
Washington Quarter (1932-1964) $5.20 $5.23
Barber Half Dollar (1892-1915) $10.41 $10.46
Walking Liberty Half Dollar (1916-1947) $10.41 $10.46
Franklin Half Dollar (1948-1963) $10.41 $10.46
Kennedy Half Dollar (1964) $10.41 $10.46
Kennedy Half Dollar (1965-1970) $4.26 $4.28
Morgan Dollar (1878-1921) $22.26 $22.36
Peace Dollar (1921-1935) $22.26 $22.36
Eisenhower Dollar (1971-1976) $9.10 $9.14
American Silver Eagle $28.78 $28.91
America the Beautiful 5 Oz. Silver Coins $143.90 $144.55

 

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

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