US Silver Coin Melt Values Dive in 2011

Silver prices ended the week down versus last week’s Friday numbers meaning associated silver coin melt values dropped as well. Even more significant than that, however, the precious metal also realized a decline from where it stood at the end of 2010.

The London Fix for Silver on December 30, 2011 was $28.18 an ounce. In comparison, the London Fix last week Friday (December 23, 2011) was $29.22 an ounce. The white metal closed out last year with a fix of $30.63 an ounce.

Typically, this article would focus more on weekly comparisons, however, as it is the end of the year, and as the London Markets were closed two days this week owing to the holidays, it appears more appropriate to look at a yearly comparison.

Annual Precious Metals Price Comparison 2010-2011
December 31, 2010
London Fix
December 30, 2011
London Fix
Change
Gold
$1405.50
$1,574.50
+$169.00
+12.0%
Silver
$30.63
$28.18
-$2.45
-8.0%
Platinum
$1755.00
$1,381.00
-$374.00
-21.3%
Palladium
$797.00
$636.00
-$161.00
-20.2%

 

As the chart above indicates, silver is down 8% from where it stood at the same time last year. However, a look at the entire year paints an even more interesting picture. The London Spot for Silver cumulative average for 2010 was just $20.19 an ounce. This was actually much lower than the 2011 average which ended right at the $35 an ounce range.

Why then do the year-end comparisons look bleak while the annual averages show an opposite situation? The answer comes, as with all market activity, in the fluctuations. Even though silver started 2011 off in the $30 range, the precious metal rose to an astonishing $48.70 an ounce on April 28th (with many ups and downs along the way). This placed silver at a level not seen in decades.

That high was followed by some downward trending which reversed again leading to an August 22nd spot of $43.49 an ounce. The London Spot never again reached that high during the year with the metal slowly averaging down to the $28.18 we saw on Friday.

Still, with such highs seen mid-year, the silver’s average ended quite positive versus 2010.

Offered in the chart below is year-end comparisons for silver coin melt values.

Year-End Silver Coin Melt Value Comparisons

SILVER COIN
December 31, 2010
Silver Melt Value
December 30, 2011
Silver Melt Value
Jefferson Nickel (1942-1945)
$1.72
$1.59
Barber Dime (1892-1916)
$2.22
$2.04
Mercury Dime (1916-1945)
$2.22
$2.04
Roosevelt Dime (1946-1964)
$2.22
$2.04
Barber Quarter (1892-1916)
$5.54
$5.10
Standing Liberty Quarter (1916-1930)
$5.54
$5.10
Washington Quarter (1932-1964)
$5.54
$5.10
Barber Half Dollar (1892-1915)
$11.08
$10.19
Walking Liberty Half Dollar (1916-1947)
$11.08
$10.19
Franklin Half Dollar (1948-1963)
$11.08
$10.19
Kennedy Half Dollar (1964)
$11.08
$10.19
Kennedy Half Dollar (1965-1970)
$4.53
$4.17
Morgan Dollar (1878-1921)
$23.69
$21.80
Peace Dollar (1921-1935)
$23.69
$21.80
Eisenhower Dollar (1971-1976)
$9.68
$8.91
American Silver Eagle
$30.63
$28.18
America the Beautiful 5 Oz. Silver Coins
$153.15
$140.90

 

Check Silver Coin Melt Values for fresh coin values based on the latest silver prices.

 

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