Junk silver melt value calculator

How junk silver melt value is calculated

Melt value is the value of the pure metal in the coins, ignoring any collector premium:

pure silver ounces × current silver spot price per troy ounce

Dealers quote junk silver by face value because the coins are traded in bags. The standard rule of thumb is that $1 face value of 90% silver contains about 0.715 troy ounces of pure silver (this allows for the wear most circulated coins have). Uncirculated coins hold slightly more, about 0.7234 oz per $1.

Which coins are 90% silver?

• Dimes (Barber, Mercury and Roosevelt) dated 1964 and earlier
• Quarters (Barber, Standing Liberty and Washington) dated 1964 and earlier
• Half dollars (Barber, Walking Liberty, Franklin and Kennedy) dated 1964 and earlier
• Silver dollars (Morgan and Peace) are also 90% silver, but are usually valued per coin. See the Morgan and Peace dollar guide.

Kennedy halves dated 1965–1970 are 40% silver. “War nickels” (1942–1945, with a large mint mark above Monticello) are 35% silver. Clad coins dated 1965 and later (except those 1965–1970 Kennedy halves) contain no silver.

Melt value is not what a dealer will pay

Dealers buy junk silver at a small discount to melt to cover their costs, and sell it at a premium. Coins with collector value, such as key dates or high grades, can be worth more than melt. Treat the number above as a floor for the silver content, not a quote.