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Melt Value Formula:
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The melt value of a silver coin represents the intrinsic value of the precious metal it contains, based on current market prices. This is different from the coin's numismatic or collector value.
The calculator uses the melt value formula:
Where:
Explanation: The formula calculates the actual silver content value by accounting for both the weight and purity of the coin, multiplied by the current market price.
Details: Knowing the melt value helps investors and collectors understand the minimum value of their silver coins, which is particularly important when buying, selling, or insuring precious metal assets.
Tips: Enter weight in troy ounces (1 troy oz = 31.1035 grams), purity as a decimal fraction (e.g., 0.999 for pure silver), and current spot price in USD per troy ounce. All values must be positive numbers.
Q1: What's the difference between troy ounces and regular ounces?
A: A troy ounce (31.1035 grams) is heavier than a standard avoirdupois ounce (28.3495 grams). Precious metals are always measured in troy ounces.
Q2: How do I find my coin's purity?
A: Most coins have purity marked (e.g., .999, .925). For older coins, consult a numismatic reference or have them tested.
Q3: Where can I find current silver spot prices?
A: Spot prices are available from precious metals exchanges, financial news sites, and bullion dealer websites.
Q4: Does this calculator work for gold coins too?
A: Yes, the same formula applies to gold or any precious metal - just use the appropriate weight and gold spot price.
Q5: Why is melt value different from coin value?
A: Collector coins often sell for premiums above melt value due to rarity, condition, or historical significance.