Coin melt value is the estimated market value of a coin’s recoverable precious-metal content, using the fine gold or silver weight and a reference spot price.
The actual formula
A coin’s melt estimate starts with its fine precious-metal weight, normally expressed in troy ounces. Multiply that by the spot price per fine troy ounce. For a 1964 Kennedy half dollar, the standard silver content is 0.36169 troy ounces. At an illustrative silver quote of $50 per troy ounce, the math is 0.36169 × $50 = $18.0845. This is an example, not a statement of today’s silver price.
Troy ounces are different
Precious metals are quoted in troy ounces, not everyday avoirdupois ounces. One troy ounce equals approximately 31.1035 grams. Use fine-metal weight rather than the full weight of an alloy coin: a 90% silver coin contains copper too.
What the calculation leaves out
Dealer commissions, shipping, processing, taxes, wear, authenticity, condition and collector demand are outside this formula. In some cases a collector premium eclipses melt value, while an offer to buy a bulk lot may be below metal content value.
How to use it responsibly
Identify the exact coin, confirm the nominal metal content, enter a spot price you trust and calculate. For ordinary circulated junk silver, consider the wear-adjusted face-value convention. For potentially rare coins, pause before valuing them as scrap.
Put the formula to work
Open our multi-coin calculator to enter coin quantities and your own silver or gold spot quotation. For mixed lots, save a private collection and print a metal-content worksheet.
See the source and calculation methodology for published nominal fine-metal weights and additional research references.