1. What is Melt Value?

The melt value of a silver coin represents the intrinsic value of the precious metal it contains, calculated by multiplying the coin's weight by its purity and the current spot price of silver.

2. How Does the Calculator Work?

The calculator uses the melt value formula:

Where:

• \( \text{Weight} \) — Weight in troy ounces (1 troy oz = 31.1035 grams)
• \( \text{Purity} \) — Silver content as a fraction (e.g., 0.925 for sterling silver)
• \( \text{Spot Price} \) — Current market price of silver per troy ounce

Explanation: The formula calculates the actual silver content value, excluding any numismatic or collectible value the coin might have.

3. Importance of Melt Value Calculation

Details: Knowing the melt value helps investors and collectors understand the minimum value of their silver coins, useful for insurance purposes, selling, or trading.

4. Using the Calculator

Tips: Enter weight in troy ounces (1 troy oz = 31.1035 grams), purity as a fraction (e.g., 0.999 for fine silver, 0.925 for sterling), and current spot price in USD per troy ounce.

5. Frequently Asked Questions (FAQ)

Q1: What's the difference between troy ounces and regular ounces?
A: 1 troy ounce = 31.1035 grams, while 1 avoirdupois (regular) ounce = 28.3495 grams. Precious metals are always measured in troy ounces.

Q2: Where can I find current silver spot prices?
A: Spot prices are available from commodities exchanges like COMEX, LBMA, or financial news websites.

Q3: Does this calculator account for numismatic value?
A: No, this only calculates the metal value. Rare or collectible coins may be worth significantly more than their melt value.

Q4: What's the purity of common silver coins?
A: Examples: American Silver Eagles (0.999), Morgan Dollars (0.900), British Sterling (0.925), US War Nickels (0.350).

Q5: How often should I check melt value?
A: Since silver prices fluctuate daily, check whenever considering buying or selling for metal content.