Silver Coin Melt Values at Fresh Highs

October 11, 2009 by · Leave a Comment 

90% Silver CoinsSilver coin melt values registered fresh highs last week, displacing the previous peaks reported just three weeks ago. The gains came as a result of record silver prices, with London silver reaching $17.80 an ounce on Thursday.

Despite a 17 cent retreat on Friday to $17.63 an ounce, the metal is sporting an incredible gain of $6.84, or 63.4 percent, for the year as compared to the $10.79 closing price on Dec. 31, 2008. And with that, it’s a good time to again look at how the intrinsic values of 90 percent silver coins have jumped.

Silver Coins Today has tables of silver coin values and several country coin melt calculators for just this occasion, making the process simplistic. As a quick reference and to show how much intrinsic coin values have increased in 2009 alone, here is a sampling output based on the US silver coin melt calculator at Friday’s $17.63 silver price.

Old Silver Coin Melt Values

Silver Coin Types Year of
Issue
Coin Face
Values
Coin Melt
Values
2009
Increase
Jefferson War Nickel
1942-1945
$0.05
$0.99
$0.38
Mercury Dime
1916-1945
$0.10
$1.28
$0.50
Roosevelt Dime
1946-1964
$0.10
$1.28
$0.50
Washington Quarter
1932-1964
$0.25
$3.19
$1.24
Walking Liberty Half Dollar
1916-1947
$0.50
$6.38
$2.48
Franklin Half Dollar
1948-1963
$0.50
$6.38
$2.48
Kennedy Half Dollar
1964
$0.50
$6.38
$2.48
Kennedy Half Dollar
1965-1970
$0.50
$2.61
$1.01
Morgan Dollar
1878-1921
$1.00
$13.64
$5.29
Peace Dollar
1921-1935
$1.00
$13.64
$5.29
Eisenhower Dollar (40%)
1971-1976
$1.00
$5.57
$2.16
Silver Eagle (1 oz)
1986-2009
$1.00
$17.63
$6.84

 

The "junk silver coins" description is often used by coin collectors to refer to older 90 percent silver coins with intrinsic silver or melt values that are worth more than their numismatic values. The old term is used to this day, but the coins are far from junk as the above prices show.

Their buying and selling activity is at a high. As an example, a search on eBay with the keywords "90% Silver Coins" currently shows more than 730 active listings. When we discussed this topic three weeks back, there were 580 active listing.

As another follow-up, using the Silver Coins Today page Silver Coins: Prices & Sales, the following table was produced to highlight how much collector coin melt values have increased between their issue date and up through Friday.

US Mint 2009 Silver Coin Intrinsic Values

  Issue Date Intro Price Final Price London Silver Price on Issue Date Total Silver Included (troy oz) Melt Value on Issue Date Melt Value on Oct. 9 Melt Value Increase
Lincoln Silver Dollar – Uncirculated Feb. 12 $31.95 $33.95 $13.34 0.773 $10.32 $13.64 $3.32
Lincoln Silver Dollar – Proof Feb. 12 $37.95 $41.95 $13.34 0.773 $10.32 $13.64 $3.32
Quarters Silver Proof Set Mar. 23 n/a $29.95 $13.76 0.868 $14.93 $19.13 $4.20
Braille Silver Dollar – Uncirculated Mar. 26 $31.95 $33.95 $13.60 0.773 $10.52 $13.64 $3.12
Braille Silver Dollar – Proof Mar. 26 $37.95 $41.95 $13.60 0.773 $10.52 $13.64 $3.12
2009 US Mint Silver Proof Set Jul. 17 n/a $52.95 $13.16 1.519 $19.99 $26.78 $6.79

 

Now these coins and sets are obviously not within the "junk silver" realm. Their true values are mostly dictated by their numismatic worth. However, secondary market prices fluctuate based on large precious metal price swings.

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