Silver Coin Values Shocking As Silver Prices Hit Highs

Coin News ^ | 04/21/2011 | Mike Unser

[SeekAndFind]

As silver prices continue to push for new 31-year highs and strive for an all-time record, silver coin values have blasted off for common coins once worth just 5, 10, 25 or 50 cents.

It is difficult to imagine that a 50-cent piece with mintages in the tens of millions is worth nearly $17, or that a worn out nickel is valued at more than $2.50. But they are, thanks to silver prices that have jumped 172 percent since the end of 2009.

Coins with 90 percent silver include dimes, quarters and half dollars that were minted before 1965. These are now worth an amazing amount of money today. For example, a Kennedy half dollar was exchanged at face value in 1964. Its melt value now is $16.73, based on the London fix price of silver Thursday at $46.26 an ounce.

Prizes are available even for collectors who bought the numismatic versions of the Eisenhower dollar which were minted in 40 percent silver between 1971 and 1976. Their values as a collector piece did not pan out for most as general interest in the coins waned, but today they are worth $14.62, far more than what the United States Mint charged its customers at the time.

The following table provides coin melt values for several coins based on the silver price of $46.26 an ounce. To learn more about each coin, click on the provided links.

Melt Values of Older Silver Coins

Silver Coin Type	Year of Issue	Face Values	Silver Coin Values
Jefferson Nickel	1942-1945	$0.05	$2.60
Mercury Dime	1916-1945	$0.10	$3.35
Roosevelt Dime	1946-1964	$0.10	$3.35
Washington Quarter	1932-1964	$0.25	$8.37
Walking Liberty 50c	1916-1947	$0.50	$16.73
Franklin Half Dollar	1948-1963	$0.50	$16.73
Kennedy Half Dollar	1964	$0.50	$16.73
Kennedy Half Dollar	1965-1970	$0.50	$6.84
Morgan Dollar	1878-1921	$1.00	$35.78
Peace Dollar	1921-1935	$1.00	$35.78
Eisenhower Dollar	1971-1976	$1.00	$14.62

 

There are a few important things to keep in mind when looking at coin melt values. First of all, the values are purely melt based. Older coins that have special interest to coin collectors can easily command exceptional high prices. Coins that do not — the vast majority of those from the dates above — are often referred to as "junk silver coins." Also, the above figures are based on the amount of silver in the coin when it was originally struck by the United States Mint. It does not take into account any wear and tear that a coin may have received during its life, which could result in a slightly lower silver content.

Modern Silver Coin Values

While few coin collectors would consider melting modern numismatic issues like commemorative coins, their melt values have soared as well. So much so that the United States Mint currently has its only four silver sets suspended, awaiting price adjustments to better match the new level of silver prices.

The best example of rising coin values is the 2010-dated America the Beautiful Quarters Silver Proof Set. The United States Mint issued the set on May 27 for a price of $32.95. Each of the five quarters are composed of 90 percent silver, giving them a total silver weight of 0.904 ounces. Its melt value on release day was $16.70. The set today has a melt value of $41.83. That is $8.88 more than the Mint’s initial price.

The following table shows how modern coin melt values have changed for United States Mint silver coins and sets between their issue date and Thursday.

Melt Values for Modern Silver Coins

Silver Coins or Set	Issue Date	Release Prices	Melt Values (Issue Date)	Melt Values (April 21)
2011 Medal of Honor Uncirculated	Feb. 25, 2011	$49.95	$25.45	$35.78
2011 Medal of Honor Proof	Feb. 25, 2011	$54.95
2011 U.S. Army Uncirculated	Jan. 31, 2011	$49.95	$21.79
2011 U.S. Army Proof	Jan. 31, 2011	$54.95
2011 Silver Proof Set	Jan. 25, 2011	$67.95	$35.88	$61.91
2011 American Silver Eagle	Jan. 3, 2011	n/a	$31.13	$46.26
2011 ATB Silver Quarters	April 1, 2011	$41.95	$34.03	$41.83
2010 ATB Silver Quarters	May 27, 2010	$32.95	$16.70	$41.83
2010 Silver Proof Set	Aug. 26, 2010	$56.95	$25.40	$61.91
(1) 2010 ATB Silver Bullion Coin	Dec. 10, 2010	n/a	$143.95	$231.30
2010 Boy Scouts Uncirculated	Mar. 23, 2010	$35.95	$12.95	$35.78
2010 Boy Scouts Proof	Mar. 23, 2010	$43.95
2010 DAV Uncirculated	Feb. 25, 2010	$35.95	$12.48
2010 DAV Proof	Feb. 25, 2010	$43.95

 

These coins and sets are obviously not purchased to melt down. Their true values are mostly dictated by their numismatic worth. However, secondary market prices for them fluctuate when there are large precious metal price swings.

[Rebelbase]

The last time Silver was this high was due to an attempt on cornering the market.

This time it’s a reflection of the piss poor state of the world economy and expectations it’s not going to improve anytime soon.

$10/gallon milk and $12 dollar/lb. hamburger, anyone...anyone...Bueller?

[SeekAndFind]

You’re right there. Even the Wall Street Journal agrees.

http://online.wsj.com/article/BT-CO-20110421-711445.html

Dollar Weakness Boosts Comex Gold, Silver

By Tatyana Shumsky Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)—Comex gold futures kept above the $1,500 level while silver set a record as a weaker dollar and thin pre-holiday trading volumes lent support.

The thinly traded April-delivery contract was recently up 0.3%, or $4.70, at $1,503.00 per troy ounce on the Comex division of the New York Mercantile Exchange.

The most actively traded contract, for June delivery, was 0.3%, or $4.90, at $1,503.80 per troy ounce.

A weak dollar kept gold prices buoyed above the $1,500 mark as investors opted for the safety of the precious metal. The euro rallied to a 15-month high against the dollar overnight as confidence in the greenback whittled further. The dollar has declined sharply since credit ratings agency Standard & Poor’s rattled markets Monday by putting long-term U.S. government debt on “negative” outlook.

The euro was recently at $1.4559, up from $1.4523 late Wednesday in New York.

“The dollar is the major motivator there right now,” said Stephen Platt, analyst with Archer Financial Services.

Gold is considered a store of value and an alternative currency and benefits from concerns about the integrity of paper currencies like the dollar.

Thin trading volumes also lent gold prices some support as trading slowed ahead of the long Easter Holiday weekend. Comex floor and electronic trading will be suspended Friday in observance of the Good Friday holiday. When trading volumes are low each trade tends to have a larger impact on prices.

Meanwhile, silver for May delivery set fresh 31-year highs as the contract gains on the 1980 record set when the Hunt Brothers of Texas attempted to corner the silver market.

The front-month contract was recently up 2.3%, or $1.020, at $45.485 per troy ounce after touching $45.485 earlier. The contract is still short of the 1980 front-month record of $50.360.

Silver for May delivery, the most actively traded contract, was up 3.2%, or $1.409 higher at $45.870 per troy ounce. The most-active contract hit a record $46.270, out-pacing the 1980 most-active high of $41.50.

Unlike the 1980 spike, silver has reached its recent highs thanks to a robust rally. Demand for silver as a store of value and a currency alternative has boomed as many price-conscious investors balked at gold’s $1,500 price tag and opted to safe-guard their wealth using the cheaper precious metal.

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[Nachum]

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/

[lurk]

So that stash of hundreds of old silver quarters is worth a bit more these days. Hmmm

Hey Grandma, thanks for saving those.

[lp boonie]

ping

[Godebert]

[loboinok]

I have a silver Indianhead nickel the size of a Morgan dollar. The back has the buffalo and “ONE TROY OUNCE” at the top with “.999 FINE SILVER” at the bottom.

Any idea what it’s worth?

[TheOldLady]

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[Psalm 73]

I picked up 20 1921 Morgans for about $24 per/ awhile back (for "worse-case scenario" emergency use) - been meaning to pick up some more but at $40 per/, was waiting for price to go down.
Think I should wait, or grab 'em at 40?

[JAKraig]

Today all the silver mines of the world together can not keep up with the industrial demand for silver. Silver is a very nice way to store wealth but takes up a lot of room.

Silver is used in so many industrial processes we would take many pages just to list them all.

Even if we weren’t having spiraling inflation the price of silver would be going up. The industrial demand is just too high for it not to feel the pinch.

Normally, a good economy keeps people from worrying about having a stash of precious metals but when it hits the fan everybody gets worried. If the economy does start to pick up industry will increase its purchasing of silver, that will only add to the price pressure and make inflation worse off which will scare people and make them want more security, therefore the spiral.

The government started this with their ridiculous deficit spending. The government borrows from itself and calls it a loan. The money is not real and people are finally understanding it, this coupled with demand will make the value of the dollar totally worthless. We will be no different that Rhodesia where you have to have gold or silver to buy anything.

I have recommended to my friends and to people here to buy silver since it was about $7.00. I hope you have some. I personally believe it will hit at least $100.00 before it slows down.

Under average conditions 1 oz of gold will buy 15 ozs of silver, right now it is about 35. Silver is a good buy until it gets to 15. Buy!

The economy is tanked. When you realize that inflation is at over 20% and should be much higher and soon will be you will understand what fear is all about.

The government is stealing the value of all of our savings without changing any laws. If you had $1,000,000 in savings last year it is not even worth $800,000 (in buying power) this year. Next year you will be lucky to have one half the buying power of last year. If you are old, like me, I sure hope you own everything you have, if you don’t then pay it off now! Use your money before it becomes worthless! Once it becomes worthless paying it off would be easy except that everything else you need like food and fuel will be so high you won’t have anything left over to pay for your mortgage. Convert all the savings you have into something that won’t lose its value, Precious metals, real estate and certain commodity stocks are good.

Put several months, at least, of the items you normally purchase in your basement. Store shelves could become bare as businesses go out of business or as costs go so high that they can’t afford to keep items in stock. Shortages in fuel will mean that deliveries will be late.

It doesn’t cost any more to purchase now what you will use anyway, if fact when you use items purchased at yesterdays prices in a runaway inflation you come out ahead.

Get ready for a real roller coaster ride in the near future.

[sr4402]

Silver and Gold are a fad right now. If you want to make money, you need to have a percent in mind you wish to profit. When it goes above that value I would sell and look for something else folks are not interested in yet.

That way you can catch the next wave. Gold's wave has already happened and silver is about to crest sometime. Best to take your profits before the wave crashes and get into the next thing that will go up. I am.

[OB1kNOb]

Between $47 and $48 dollars at gainesvillecoins.com

[Chickensoup]

What will the next thing be?

[sr4402]

Hint, what do you think the next precious metal to attract attention will be?

[ThisLittleLightofMine]

My Grandma stashed serious silver coins and we are at this point thinking about selling them all. We have about 20 lbs in mercury dimes. In addition to other silver.

[winodog]

Silver & gold

[Psalm 73]

"If you want to make money,..."

No, not looking to make money - just a SHTF emergency stash - paper wouldn't be worth squat - ammo, water, and food are essentials for stockpiling, but would need something for barter - hence the silver coins, but don't want to "buy high" even it's just for sitting on.

[Chickensoup]

Well platnium is off the charts in price.

[loboinok]

Thank you, OB1kNOb... much appreciated!