US Silver Set Melt Values Down 3.6% First Full Week of May

US Silver Set Melt Values were bounced around again this week with both significant drops and some minor positive corrections posted. Unfortunately, the declines of the silver market trumped the gains resulting in the associated melt values trending down over the seven day period by 3.6%.

This decrease reversed the gains established last week. For the record, the London Fix for Silver for today, Friday May 10, 2013 was $23.37 an ounce.

 

Precious Metals Prices
May 10, 2013
London Fix Weekly Change
Gold 1,426.50 -$42.75 -2.9%
Silver $23.37 -$0.88 -3.6%
Platinum $1,490.00 -$11.00 -0.7%
Palladium $702.00 +$8.00 +1.2%

 

Precious metals in general had a tough week. Of the four shown in the chart above, only one posted gains for the seven day period. This was palladium which rose 1.2% with its $8 an ounce increase. In negative territory was platinum which fell 0.7% and gold which shed 2.9%. The biggest losses were seen by silver with its 3.6% drop.

That 3.6% drop brought the associated melt values down along with it. For example, one of the recently released 2013 Silver Proof Sets went from an approximate melt value of $32.45 for the set last week Friday to $31.27 today. This is based on the 1.33823 ounces of silver found in each set.

It was a short week for silver trading in London as Monday was a bank holiday. Tuesday’s Fix came in at $23.75, down $0.50 from the previous trading day of last Friday when the Fix came in at $24.25. Some gains were realized on Wednesday when the Fix rose to $23.86 with another jump on Thursday to $24.07. However, Friday fell deeply into the negative region with its Fix of $23.37.

While the Fix of today ($23.37 per ounce) was down, it still marks a higher position than the 2013 low set one day last month. That low for the year was $22.91 an ounce set on April 24th. This Friday’s Fix is an improvement of $0.46 an ounce from that low, or 2.0%.

Conversely, today’s Fix is down significantly from the 2013 high set on January 23rd. That Fix came in at $32.23. Today’s Fix is down $8.86 from that high, or 27.5%.

The chart below offers current US Silver Coin Melt Values based on the Fix for Friday, May 10, 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)
$1.36
$1.31
Barber Dime (1892-1916)
$1.75
$1.69
Mercury Dime (1916-1945)
$1.75
$1.69
Roosevelt Dime (1946-1964)
$1.75
$1.69
Barber Quarter (1892-1916)
$4.39
$4.23
Standing Liberty Quarter (1916-1930)
$4.39
$4.23
Washington Quarter (1932-1964)
$4.39
$4.23
Barber Half Dollar (1892-1915)
$8.77
$8.45
Walking Liberty Half Dollar (1916-1947)
$8.77
$8.45
Franklin Half Dollar (1948-1963)
$8.77
$8.45
Kennedy Half Dollar (1964)
$8.77
$8.45
Kennedy Half Dollar (1965-1970)
$3.59
$3.46
Morgan Dollar (1878-1921)
$18.76
$18.08
Peace Dollar (1921-1935)
$18.76
$18.08
Eisenhower Dollar (1971-1976)
$7.67
$7.39
American Silver Eagle
$24.25
$23.37
America the Beautiful 5 Oz. Silver Coins
$121.25
$116.85

 

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

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