How the Silver Melt Calculator works
This calculator finds the intrinsic value of the pure silver inside a coin, bar, or piece of scrap — its "melt value" — by multiplying the item's weight, its purity, and the current market price of silver. It is the same math dealers and refiners use to price silver by weight rather than by face value or collectibility.
The formula
For a given quantity of identical items, each with a weight in grams and a purity (fineness) expressed as a percentage, at a given silver spot price per troy ounce:
Melt Value = Quantity × (Weight in grams ÷ 31.1034768) × (Purity ÷ 100) × Spot Price
The constant 31.1034768 converts grams to troy ounces, the unit silver is priced in. Multiplying weight by purity isolates the pure silver content; multiplying that by the spot price converts weight into a dollar value.
Worked example
Take a single 1 troy ounce (31.1035 g) silver round that is .999 fine, with silver trading at $32.50 per troy ounce. Pure silver content is 31.1035 g × 0.999 ≈ 31.0724 g, which is 31.0724 ÷ 31.1034768 ≈ 0.999 troy oz. Melt value is about 0.999 × $32.50 ≈ $32.47. For ten of the same rounds, total melt value scales to roughly $324.70.
Common purity (fineness) values
- .999 (99.9%): silver rounds, bars, and most modern bullion coins such as American Silver Eagles.
- .925 (92.5%): sterling silver, common in jewelry and flatware.
- .900 (90%): pre-1965 US silver dimes, quarters, half dollars, and silver dollars ("junk silver").
Always use the fineness stamped on the item or specified by its mint or manufacturer — purity varies enough between these categories to meaningfully change the result.
Melt value versus resale price
Melt value is a floor, not a market price. It only prices the metal content at spot. Dealers typically buy below melt (to cover refining, handling, and margin) and sell bullion products above melt (to cover premiums for minting, brand, and liquidity). Coins with numismatic or collector value can sell for far more than melt regardless of silver content. Use this calculator to establish the metal-content baseline, then compare it against actual buy and sell quotes.