1. What is Silver Melt Value?

The melt value of a silver coin represents the intrinsic value of the precious metal it contains, based on current market prices. It's different from numismatic or collector value which may be higher.

2. How Does the Calculator Work?

The calculator uses the simple formula:

Where:

• Weight — Weight of the coin in troy ounces
• Purity — Silver content as a fraction (e.g. 0.900 for 90% silver)
• Spot Price — Current market price of silver per troy ounce

Explanation: The formula calculates the actual silver content value by accounting for both the weight and purity of the coin.

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 buying, selling, or insurance purposes.

4. Using the Calculator

Tips: Enter weight in troy ounces (1 troy oz = 31.1035 grams), purity as a decimal fraction (e.g. 0.900 for 90% silver), and current spot price in USD per troy ounce.

5. Frequently Asked Questions (FAQ)

Q1: What's the difference between troy ounce and regular ounce?
A: A troy ounce (31.1035 grams) is heavier than a standard 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 financial news websites, precious metal dealers, and commodity exchanges.

Q3: What purity should I use for common US coins?
A: Common purities: 0.900 (pre-1965 silver coins), 0.400 (1965-1970 half dollars), 0.999 (modern bullion coins).

Q4: Does this calculator account for wear on coins?
A: No, for very worn coins you may need to reduce the weight slightly to account for metal loss.

Q5: Is melt value the same as what I'll get when selling?
A: Most dealers pay slightly below melt value to account for their costs and profit margin.