Coin Melt Value Calculator
What Is Coin Melt Value?
The melt value of a coin is the intrinsic value of the precious metal it contains, calculated using its weight, purity, and the current market price of that metal. It ignores design, rarity, and historical interest, and focuses only on bullion content. This is why melt value is sometimes called bullion value or metal value.
Numismatists and bullion investors often distinguish between three different concepts:
- Face value: The legal tender value printed on the coin, such as $1, £2, or €10.
- Numismatic (collector) value: The amount collectors are willing to pay because of rarity, condition, or historical importance.
- Melt value: The value of the metal in the coin, assuming it is melted down and sold as bullion.
For common bullion coins and damaged or heavily worn pieces, the market price often tracks the melt value closely, with a small premium added for minting and distribution. For rare or high-grade coins, the collector premium can be far above melt value. Using a dedicated melt value calculator helps you untangle these different components and understand the bullion baseline of your coins.
How This Coin Melt Value Calculator Works
This calculator estimates melt value from three main inputs you provide:
- Coin weight in grams.
- Purity as a percentage (for example, 99.9 for a .999 fine silver round, or 90 for a 90% silver coin).
- Metal price per gram in your chosen currency.
The calculator first determines the amount of pure metal in the coin. A coin that weighs more or has a higher purity will contain more pure metal and therefore have a higher melt value, assuming the same market price per gram.
Formula for Coin Melt Value
The underlying calculation follows a simple formula:
Melt Value = Weight × (Purity ÷ 100) × Metal Price per Gram
Where:
- Weight is the coin weight in grams.
- Purity is the fineness expressed as a percentage.
- Metal Price per Gram is the current spot or market price for one gram of that metal in your currency.
In mathematical notation:
Where:
- is the melt value (in your currency).
- is the weight in grams.
- is the purity in percent.
- is the price per gram in your currency.
The calculator returns the melt value in the same currency as the price per gram you enter. If you prefer to work in troy ounces, you can convert weight before using the calculator by noting that one troy ounce equals approximately 31.1035 grams.
Interpreting Your Melt Value Results
Once you click the button to compute the melt value, you will see an estimated bullion value based solely on the metal content of the coin. This number can be used in several ways:
- Benchmark for offers: Compare dealer or pawn shop offers against melt value to see the premium or discount they are applying.
- Investment comparisons: Evaluate whether a particular gold, silver, or platinum coin offers better metal value per unit of currency compared with other coins or bullion products.
- Insurance and documentation: Record the melt value of your holdings as a conservative baseline when insuring or inventorying a collection.
Remember that melt value is not the final sale price. Buyers must cover refining costs, handling, and profit margin, so purchase offers are often slightly below melt for scrap items. For popular investment coins, buyers may pay melt value plus a modest premium, especially when demand is high.
If your calculated melt value is higher than the face value of the coin, that does not automatically mean you should melt it. Some coins have strong collector demand, and melting them could destroy value. Always consider numismatic factors and market demand before deciding whether to treat a coin purely as bullion.
Worked Example: Silver and Gold Coin Melt Values
The table below shows example melt value calculations for different types of coins, using rounded example prices. These are for illustration only and do not represent current market quotes.
| Scenario | Weight (g) | Purity (%) | Metal price per g | Estimated melt value |
|---|---|---|---|---|
| 1 oz silver round (.999 fine) | 31.10 | 99.9 | $0.80 | $24.86 |
| Older 90% silver coin ("junk" silver) | 25.00 | 90.0 | $0.80 | $18.00 |
| Small 14k gold coin | 5.00 | 58.5 | $60.00 | $175.50 |
| 1 oz gold bullion coin (24k) | 31.10 | 99.9 | $70.00 | $2,181.67 |
| Base-metal coin with thin plating | 8.00 | 50.0 | $1.10 | $4.40 |
These scenarios highlight how melt value changes when you vary weight, purity, and the underlying metal price. Heavier, purer coins in high-value metals such as gold naturally have much higher melt values than lighter or lower-purity coins, even when the spot price of silver or gold changes only slightly.
Gold vs. Silver vs. Junk Silver: Using the Calculator
Different coin categories require slightly different approaches when entering data into the calculator, but the core formula remains the same.
Gold bullion coins
Popular modern gold bullion coins include the American Gold Eagle, Canadian Gold Maple Leaf, and Austrian Philharmonic. Many of these coins are either 22k (around 91.67% pure) or 24k (99.99% pure) gold.
- Find the official weight of the coin in grams from a reliable source (mint documentation or an authoritative reference).
- Look up the purity (for example, 91.67 for a 22k coin, or 99.99 for a 24k coin) and enter it as a percentage.
- Use the current gold spot price per gram for the metal price input.
Silver bullion coins
Modern silver bullion issues such as American Silver Eagles and Canadian Silver Maples are usually .999 or .9999 fine.
- Enter the weight in grams, commonly about 31.1035 g for a one-ounce coin.
- Use a purity of 99.9 or 99.99, depending on the exact fineness.
- Enter the current silver price per gram using your local currency.
Junk silver and pre-decimal coins
"Junk silver" refers to older circulating coins that contain silver but have little numismatic premium, such as pre-1965 U.S. dimes, quarters, and half dollars, or other pre-decimal silver issues from various countries.
- Determine the total weight of the coins in grams (often as a group).
- Use the standard alloy percentage for that series (for example, 90% or 80% silver, depending on the country and year).
- Enter the current silver price per gram and calculate the melt value for the whole batch.
Tips for Accurate Weight and Purity
Getting accurate inputs is essential for a reliable melt value estimate. Small errors in weight, purity, or price can add up quickly, especially for larger holdings.
- Use a precise scale: Weigh coins on a digital scale that measures in grams with at least 0.01 g resolution. Place the scale on a stable, level surface and tare any container or tray you use.
- Check mint specifications: For modern bullion coins, use official mint specifications for weight and purity as a cross-check against your own measurements.
- Read purity hallmarks: Look for common markings such as ".999", ".9999", "22K", or "925" on bullion and jewelry pieces. Convert karat markings to percentages (for example, 24k = 99.9%+, 22k ≈ 91.67%, 18k = 75%).
- Use assay certificates when available: Some bars and high-end coins come with assay cards or certificates confirming weight and fineness. Use these documented values as your purity reference.
- Verify suspect coins: If you are unsure whether a coin is genuine, consider specific gravity tests, XRF analysis, or consulting a professional dealer before relying on the calculated melt value.
For the metal price input, it is a good idea to base your number on a live or recently updated spot price source. Precious metal prices can move significantly within a single day, so you may wish to refresh the price per gram input before each new set of calculations.
Limitations and Assumptions
This coin melt value calculator is designed as an educational and estimation tool. It relies entirely on the weight, purity, and price per gram values you enter. As a result, several important limitations and assumptions apply:
- No numismatic premium: The calculator does not account for rarity, historical significance, grading, or collector demand. Many coins trade for far more than their melt value because of these factors.
- Excludes transaction costs: Refining fees, dealer spreads, shipping, taxes, and other costs are not included. A real-world buy or sell price will typically differ from the raw melt value estimate.
- User-supplied prices: All results depend on the accuracy and timeliness of the metal price per gram you provide. Out-of-date or incorrect spot prices will lead to misleading melt value estimates.
- Assumes homogeneous composition: The calculator assumes the entire coin has a uniform purity level. Some items with plating, cores, or mixed alloys may not conform to a single simple percentage.
- Not financial advice: The outputs are general information only and should not be treated as personalized investment, tax, or financial advice. Always consult a qualified professional or reputable dealer before making significant buying or selling decisions.
Because metal markets are volatile, any melt value you calculate is effectively a snapshot in time. For trading or portfolio decisions, recheck the current spot price shortly before executing a transaction and update your inputs accordingly.
Frequently Asked Questions
Is melt value the same as face value?
No. Face value is the legal tender denomination printed on the coin, while melt value is based on metal content. For many modern bullion coins, the melt value is much higher than the face value. For base-metal circulation coins, melt value may be lower than face value or irrelevant if melting is restricted by law.
Can a coin be worth more than its melt value?
Yes. Scarce dates, key mint marks, and high-grade examples can be worth multiples of their melt value in the collector market. In such cases, it is usually not sensible to sell strictly at melt, and you should obtain numismatic appraisals instead.
How do troy ounces relate to grams in this calculator?
Precious metals are often quoted in troy ounces, but this calculator operates in grams. To convert, multiply troy ounces by approximately 31.1035 to get grams. You can then enter that gram value as the coin weight input.
How often should I update the metal price per gram?
For casual reference, updating once per day based on a reputable spot price source is usually sufficient. If you are actively trading or planning a significant transaction, you may want to refresh prices more frequently, especially during periods of high market volatility.
When to Consider Selling at Melt Value
Selling at or near melt value can make sense for common, heavily worn, or damaged coins that lack collector appeal. It is also typical for generic bullion rounds, bars, and some high-mintage modern bullion coins where the main objective is exposure to metal prices rather than numismatic upside.
On the other hand, if your research suggests that a coin has numismatic potential, or if it is a key date or proof issue, a specialist dealer or auction venue might offer significantly more than melt. In those cases, treat the melt value provided by this calculator as a conservative floor, not as a target sale price.