1. What is Melt Value?

The melt value represents the intrinsic metal value of silver items based on their weight, purity, and current market price. It's the theoretical value if the item were melted down to its pure metal content.

2. How Does the Calculator Work?

The calculator uses the melt value formula:

Where:

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

3. Importance of Melt Value

Details: Melt value helps determine the minimum value of silver items, useful for investors, collectors, and those selling scrap silver. It provides a baseline before considering numismatic or collectible value.

4. Using the Calculator

Tips: Enter weight in troy ounces, purity as a decimal (e.g., 0.999 for fine silver), and current spot price. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What's the difference between troy ounce and regular ounce?
A: A troy ounce (31.1035g) is heavier than a standard ounce (28.3495g). Precious metals are always measured in troy ounces.

Q2: How do I find the current spot price?
A: Check financial news sites or precious metals exchanges for live silver prices, typically quoted in USD per troy ounce.

Q3: What purity should I use for common silver items?
A: Common purities: 0.999 (fine silver), 0.925 (sterling silver), 0.900 (coin silver), 0.800 (European silver).

Q4: Why is melt value different from retail price?
A: Retail prices include premiums for fabrication, distribution, and dealer margins, while melt value reflects only the metal content.

Q5: Can I use this for other precious metals?
A: The same formula works for gold, platinum, etc., but you must use the appropriate spot price for each metal.