Melt value equals metal content in troy ounces multiplied by the spot price per troy ounce. For a 1964 Washington quarter: 0.180848 troy oz of silver × $60.73/ozt = $10.99 at spot prices of October 7, 2026. Every other calculation is that same idea applied to different coins, karats, and metals.
The formula
Melt value = (silver ozt × silver spot) + (gold ozt × gold spot) + (copper lb × copper $/lb)Most coins have one metal that matters. The formula reduces to one term. A 14K gold ring has no silver, so you only need the gold term.
The Coin Melt Value Calculator applies this formula with live spot prices for over 40 US and world coins.
Step-by-step for any coin or piece
Step 1: Find the gross weight. For US coins, published specifications come from the US Mint coin specifications page. Common weights: Washington quarter 6.25 g, Roosevelt dime 2.5 g, Morgan dollar 26.73 g, copper Lincoln cent 3.11 g.
Step 2: Determine the fineness. Fineness is the fraction of the coin that is the precious metal: 0.900 for 90% silver coins, 0.9999 for a Gold Buffalo, 0.5833 for 14K gold (14 ÷ 24), 0.4167 for 10K (10 ÷ 24).
Step 3: Calculate metal content in grams, then convert to troy oz.
Metal grams = gross weight (g) × fineness
Troy oz = metal grams ÷ 31.1034768Step 4: Multiply by spot price.
Melt value = troy oz × spot price ($/ozt)For copper coins, the copper is measured in pounds: convert grams to pounds by dividing by 453.592, then multiply by the copper price per pound.
Worked examples
1964 Washington Quarter (90% silver)
Per US Mint specifications: gross weight 6.25 g, 90% silver (10% copper).
| Step | Calculation | Result |
|---|---|---|
| Gross weight | US Mint spec | 6.25 g |
| Silver content | 6.25 × 0.900 | 5.625 g Ag |
| Convert to troy oz | 5.625 ÷ 31.1035 | 0.1808 ozt Ag |
| Melt at $60.73/ozt | 0.1808 × $60.73 | $10.98 |
The dime uses the same fineness at 2.5 g gross weight: 2.5 × 0.900 = 2.25 g Ag = 0.0723 ozt = $4.39.
Morgan Dollar (90% silver, 26.73 g)
Morgan and Peace dollars each weigh 26.73 g at 90% silver, yielding 0.7734 troy oz of silver (rounded from the data file’s 0.773451 ozt).
| Spot | Melt value |
|---|---|
| $40/ozt | $30.94 |
| $60.73/ozt (Oct 2026) | $47.01 |
| $80/ozt | $61.88 |
This is why $1 face value of silver dollars always equals roughly 0.7734 × spot in melt.
1 oz American Gold Eagle (22K)
The Gold Eagle contains exactly 1.0000 troy oz of gold by law, regardless of its total gross weight of 33.93 g (the extra 8.33% is copper alloy). Melt value equals the gold spot price:
| Gold spot | Melt value |
|---|---|
| $3,000/ozt | $3,000.00 |
| $4,134.80/ozt (Oct 2026) | $4,134.80 |
The small copper component adds less than $0.25 — negligible.
5 g of 14K gold jewelry
Weight: 5.00 g
Karat: 14K = 14 ÷ 24 = 0.5833 purity
Gold content: 5.00 × 0.5833 = 2.917 g pure gold
Troy oz: 2.917 ÷ 31.1035 = 0.0938 ozt
Melt: 0.0938 × $4,134.80 = $387.84At 80% dealer payout: $310.27. At 90%: $349.06.
Pre-1982 copper Lincoln cent
Weight: 3.11 g, 95% copper. From data: 0.00651 lb of copper.
Copper: 3.11 × 0.95 = 2.9545 g = 0.006514 lb
At $6.57/lb: 0.006514 × $6.57 = $0.0428The copper cent’s metal is worth about 4.3 cents at October 2026 prices — more than four times its face value. Melting is prohibited by 31 CFR Part 82.
Quick-reference melt values at October 2026 spot prices
| Coin / item | Metal oz | Melt value |
|---|---|---|
| Roosevelt dime (silver, pre-1965) | 0.0723 ozt Ag | $4.39 |
| Washington quarter (silver, pre-1965) | 0.1808 ozt Ag | $10.98 |
| Kennedy half (90%, 1964) | 0.3617 ozt Ag | $21.96 |
| Kennedy half (40%, 1965–1970) | 0.1479 ozt Ag | $8.98 |
| Morgan / Peace dollar | 0.7734 ozt Ag | $47.01 |
| War nickel (35% silver, 1942–1945) | 0.0563 ozt Ag | $3.42 |
| 1 oz American Silver Eagle | 1.0000 ozt Ag | $60.73 |
| 1 oz American Gold Eagle | 1.0000 ozt Au | $4,134.80 |
| 10g 14K gold | 0.1875 ozt Au | $775.28 |
| Copper cent (pre-1982) | 0.0065 lb Cu | $0.043 |
Spot prices used: silver $60.73/ozt, gold $4,134.80/ozt, copper $6.57/lb (gold-api.com, October 7, 2026). Check live prices before any transaction.
Common mistakes
Using avoirdupois ounces instead of troy ounces. A kitchen scale showing ounces reads avoirdupois (28.3495 g). Spot prices are always per troy ounce (31.1035 g). Using avoirdupois figures overstates metal content by about 10%. At gold above $4,000/ozt, that error on a single ounce exceeds $400. Set your scale to grams and divide by 31.1035, or use a scale with a troy ounce (ozt) mode. The Troy Ounce Converter handles this precisely.
Treating karat as a percentage directly. 14K gold is 58.33% pure — not 14%. Always divide the karat number by 24: 14 ÷ 24 = 0.5833. Then multiply by weight in grams. Forgetting this step makes the calculated gold content 4× too low.
Ignoring the junk silver shortcut. For bags of 90% silver coins, you do not need to calculate each coin separately. $1 face value = 0.7234 ozt Ag (theoretical, uncirculated) or 0.715 ozt (industry convention for worn circulated coins). The Junk Silver Calculator applies the correct convention for your mix.
Assuming melt value equals what you will be paid. Dealers buy at a discount to melt — typically 85–97% for recognized bullion and 70–85% for scrap jewelry. Melt value is the ceiling you negotiate from, not the amount you receive.
Using stale spot prices. Gold and silver prices move daily. A melt value calculated at last week’s prices can be 5–10% off in a volatile market. Use the live calculators linked throughout this site.
The junk silver shortcut
For $1 face value of 90% silver coins, the standard formula is:
Melt = $1 face × 0.7234 × spot
Melt = $1 face × 0.715 × spot (circulated/worn convention)At $60.73/ozt silver (October 2026):
- $1 face (theoretical): 0.7234 × $60.73 = $43.92
- $1 face (worn, 0.715): 0.715 × $60.73 = $43.42
- $1,000 face bag (worn): 715 × $60.73 = $43,422
The difference between 0.7234 and 0.715 matters on large bags. On a $1,000 face bag at $60.73 spot, it is roughly $501 — use the right convention for your situation. See what is junk silver for more on this distinction.
Skip the math: use the calculators
The Coin Melt Value Calculator selects any coin by name and quantity and returns live melt values. For gold by karat and weight: Scrap Gold Calculator. For silver by weight and fineness: Silver Value Calculator or Sterling Silver Calculator. Spot prices update automatically.