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Melt value (or metal value) is what the pure gold or silver in a coin is worth at the spot price.
- Fine weight = gross weight (g) × fineness (thousandths / 1000).
- Value = fine weight (g) × spot price per gram.
- 1 troy ounce = 31.1034768 g; price per gram = price per ounce ÷ 31.1034768.
Spot price now: gold …/g, silver …/g, platinum …/g.
When the law states the fine content
Some laws do not give fineness in thousandths, but the fine content. US law says the $50 American Eagle gold coin weighs 33.931 g and “contains one troy ounce of fine gold”. In that case we use 1 troy ounce of fine gold directly.
Others give weight and fineness. With the duro of the 1868 Decree (25 g × 0.900) you get 22.5 g of fine silver.
| Coin | Years | Gross weight | Fineness ‰ | Fine metal | Melt value |
|---|---|---|---|---|---|
| American Eagle gold 1 oz | Especificación vigente, 31 U.S.C. §5112 | 33,931 g | 916,7 | 31,104 g | … |
| Sovereign (Coinage Act 1971) | Especificación de la Coinage Act 1971 (texto original) | 7,9881 g | 916,7 | 7,322 g | … |
| 5 silver pesetas (“duro”), 1868 Decree | Sistema de la peseta (Decreto de 19/10/1868) | 25 g | 900 | 22,500 g | … |
Melt value ≠ buy or sell price
Dealers sell above spot and buy below. Rare coins can be worth far more for numismatic interest. Values on this site are indicative and are not buy or sell offers.
Sources & methodology
- 31 U.S.C. §5112 (govinfo.gov)
- Coinage Act 1971, Schedule 1 (as enacted) – OGL v3.0
- Gaceta de Madrid, 20/10/1868 – Decreto de 19/10/1868
- gold-api.com – FAQ (precios por onza troy)
Notice: amounts are indicative melt values from the spot price and published specs. They are not buy/sell offers or financial advice. Always check your piece’s weight and fineness.