Coin Melt Value Calculator
Calculate the intrinsic silver or gold melt value of coins from their weight, fineness and the current spot price.
How it works
Melt value = weight (g) × fineness × (spot ÷ 31.1035 g/oz) × coins
A coin's melt value is the market worth of the precious metal it contains, ignoring any collector premium. It comes from three numbers: the coin's gross weight, its fineness (the fraction that is the precious metal), and the spot price of that metal per troy ounce — which is 31.1035 grams, not the 28.35-gram avoirdupois ounce. Melt value sets a floor for bullion-type coins, but rare dates and high grades can trade well above it, so never melt a coin without checking its numismatic value first.
Worked example
A US 90% silver Morgan dollar weighs 26.73 g, so it holds 26.73 × 0.90 = 24.06 g of silver, or 24.06 ÷ 31.1035 = 0.7736 troy oz. At a $30/oz spot price that is about $23.21 of silver per coin, or roughly $232 for ten.
Sources: Troy weight (Wikipedia)
Frequently asked questions
What fineness should I use?
US pre-1965 dimes, quarters and half dollars are 90% silver; Kennedy halves from 1965–1970 are 40%. Sterling is 92.5%, and most gold coins are marked in karats or fineness (22k ≈ 91.7%, 24k ≈ 99.9%).
Why a troy ounce and not a normal ounce?
Precious metals are always priced per troy ounce, which is 31.1035 grams — about 10% heavier than the 28.35-gram ounce used for food. Using the wrong ounce overstates melt value by roughly 10%.
Is melt value what a dealer pays?
Dealers buy below melt to cover their margin, and sell bullion slightly above it. Collectible coins are a different market entirely and can be worth many times their metal content.
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This calculator is for educational purposes. Double-check important results before acting on them.