Short answers to the questions people ask most about coin melt values.
What is melt value?
The value of the gold, silver, platinum or palladium in a coin at the current spot price. It ignores the coin’s face value and any collector value. See How Coin Melt Value Is Calculated.
What is a troy ounce?
The unit used for precious metals: 31.1035 grams. An ordinary (avoirdupois) ounce is 28.35 grams, so a troy ounce is about 10% heavier.
What is spot price?
The current market price for immediate delivery of large, refined bars, usually quoted in US dollars per troy ounce. JinglePig shows live spot prices and labels any price that may be out of date.
Why do bullion coins cost more than melt?
Minting, distribution and selling costs are added on top of the metal. That premium is usually higher for small coins and in busy markets.
Does wear change the melt value?
A little. Melt values use the coin’s standard new weight. Worn coins have lost some metal: a $1,000 face-value bag of circulated 90% silver is commonly figured at about 715 troy oz of silver rather than the 723 oz in new coins.
Which US coins contain silver?
Dimes, quarters and half dollars dated 1964 or earlier (90%), silver dollars through 1935 (90%), Kennedy halves dated 1965–1970 (40%), silver Eisenhower dollars sold to collectors (40%), and 1942–1945 war nickels with a large mint mark above Monticello (35%). See the US coin melt values table.
Is it legal to melt coins?
In the United States, melting cents and nickels is restricted, but the rule does not cover silver or gold coins. Read Is It Legal to Melt US Coins?
Should I sell my coins for melt?
Check first. Look up the date and mint mark, and have anything unusual looked at by a reputable dealer or grading service. A coin worth a few dollars in silver can be worth much more to a collector.