US Silver Set Melt Values Increase First Week of March By 2.7%

The first week of March proved to be a positive one for US Silver Set Melt Values with the precious metal showing some strong gains during the week. Based on the Friday to Friday London Fix for silver, the melt values improved a very respectable 2.7%.

2013 America the Beautiful Quarters Silver Proof Set

Melt values of silver sets, like this 2013 America the Beautiful Quarters Silver Proof Set, shot higher this week

That increase came as silver finished this week up $0.77 an ounce from where it was just seven days ago. The London Fix for silver for today, March 8, 2013 was $28.78 an ounce.

Precious Metals Prices
March 8 , 2013
London Fix Weekly Change
Gold 1,581.75 -$0.50 -0.0%
Silver $28.78 +$0.77 +2.7%
Platinum $1,588.00 +$9.00 +0.6%
Palladium $769.00 +$48.00 +6.7%

 

Overall, it was a good week for precious metals. Of the four shown above, three had gains with one down just slightly. Gold was the metal showing a drop, but just $0.50 an ounce. Leading the pack for improvement was palladium which jumped $48 an ounce, or 6.7%. Silver’s 2.7% was next in line with platinum going up $9.00 an ounce, or 0.6%.

Silver spent the entire week up from last Friday’s Spot. On Monday, the Fix came in at $28.69 an ounce, up from the previous Friday’s $28.01. It was followed by a slight gain on Tuesday to $28.93 before a correction on Wednesday down to $28.74. On Thursday, the Fix shot up to $29.01 with Friday coming back down to the aforementioned $28.78 an ounce.

At $28.78 an ounce, one of the 2010-2012 Silver Proof Sets would have a US silver set melt value of $38.51. This is based on the fact that these US sets contains seven coins which are struck from 90% silver totaling 1.33823 ounces of the precious metal. (1.33823 times $28.78 equals $38.51).

Today’s Fix of $28.78 an ounce is up $0.77 from the 2013 low set on the first of this month, March 1st. That low was $28.01 an ounce.

Conversely, today’s Fix is down from the 2013 high set on January 23rd of $32.23 an ounce. Doing the math shows today’s Fix down $3.45 an ounce from that high, or -10.7%.

The chart below offers current US Silver Coin Melt Values based on the Fix for Friday, March 8, 2013, and a comparison to those values based on last week’s silver price.

Monthly Silver Coin Melt Value Comparisons

SILVER COIN Last Week’s Silver Melt Value This Week’s Silver Melt Value
Jefferson Nickel (1942-1945) $1.58 $1.62
Barber Dime (1892-1916) $2.03 $2.08
Mercury Dime (1916-1945) $2.03 $2.08
Roosevelt Dime (1946-1964) $2.03 $2.08
Barber Quarter (1892-1916) $5.07 $5.20
Standing Liberty Quarter (1916-1930) $5.07 $5.20
Washington Quarter (1932-1964) $5.07 $5.20
Barber Half Dollar (1892-1915) $10.13 $10.41
Walking Liberty Half Dollar (1916-1947) $10.13 $10.41
Franklin Half Dollar (1948-1963) $10.13 $10.41
Kennedy Half Dollar (1964) $10.13 $10.41
Kennedy Half Dollar (1965-1970) $4.14 $4.26
Morgan Dollar (1878-1921) $21.66 $22.26
Peace Dollar (1921-1935) $21.66 $22.26
Eisenhower Dollar (1971-1976) $8.85 $9.10
American Silver Eagle $28.01 $28.78
America the Beautiful 5 Oz. Silver Coins $140.05 $143.90

 

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

 

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