Why Is the Melt Value of a Coin Important?
This is useful information when trying to determine a coin’s value. There are many factors that influence the value of coins and this is just one aspect of it. For example, if the price of silver rises to the point where it exceeds the face value of the coin, people remove them from commerce because they are worth more for their metal value than their face value. When the metal value of the coin exceeds the collector value, then the coin will be sold for its bullion value instead of its numismatic value. This page is not a legal endorsement of melting or defacing coins but serves to provide you with information on a coin’s intrinsic metal value.
How to Sell Your Scrap Silver Coins
The chart below will give you an approximate value of the silver content contained in United States coins. But, depending upon where you sell your coins, you will probably get a little less than the prices stated below. Most United States coins were made from 90 percent silver and 10 percent copper. In order for the refiner to retrieve the silver content from the coins, the coins must be melted and refined. This adds to the cost of retrieving the silver from the coins. There are many jewelry stores and miscellaneous shops that will buy your old gold and silver coins. In order for the proprietor to recuperate the cost of operating his store, he will charge a percentage for buying your coins that will be melted. You can expect anywhere from a 10 percent to 20 percent reduction in the cost below when you go to sell your coins. Many businesses that will buy your coins will pay a multiplier of face value when you go to sell them. For example, they may be paying 12.14 times face value for the coins you bring in. In other words, if you bring in $100 worth of 90 percent silver United States coins, they will pay you $1,214 ($100 x 12.14) for your coins. This includes the discount price for refining the coins in order to retrieve the silver.
Melt Values of U.S. Silver Coins
For example, if the current price of silver is $16.98 USD per troy ounce (t oz.).
