Question on terminology
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Thread: Question on terminology

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  1. #1
    us
    Feb 2012
    3,283
    3020 times
    Coin roll hunting

    Question on terminology

    Can someone explain the difference in the terms used between SPOT PRICE vs MELT PRICE of silver. Or is it the same.
    And when they speak $$ prices, are they using in terms of Ounces or TROY ounces. (What is a Troy ounce vs a regular ounce).
    I can't seem to get my act together lately, getting old I guess.

  2. #2
    us
    Jan 2011
    Illinois
    E-Trac, V3i, DFX
    746
    757 times
    All Types Of Treasure Hunting
    This is from Google and explains these questions fairly well.

    In essence, spot prices are the price at which a particular precious metal is selling on the stock exchange. The melt price is the value of the precious metals in a particular coin or round. ... Some coins, like the American Silver Eagle, are more pure–they primarily contain precious metals.

    The troy ounce is a metric used in weighing precious metals. The troy ounce is the equivalent of 31.1034768 grams, whereas the ounce is the equivalent of 28.349 grams.
    PetesPockets55 and Avago like this.

  3. #3
    us
    Dec 2009
    AR
    Minelab E-Trac
    2,547
    1077 times
    All Types Of Treasure Hunting
    As explained above, spot price is the price at which the metal is trading on the market, and melt price is the value of item(s) at spot. For example, a 40% silver half has a melt value of $3.875 USD at a spot price of $28.06 USD, 10 40%ers would have a melt value of $38.75, etc.
    jrf30 likes this.

  4. #4

    Mar 2015
    113
    174 times
    All Types Of Treasure Hunting
    Spot price is the market value of a pure metal commodity. For example, .999 gold.
    Melt price is the value of your particular metal that you want to sell that isn't pure. For example, if you found a nugget that weighs one troy ounce but was 90% pure, the melt price would be 90% of the spot price. Spot price x .90 = melt price.

 

 

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