Question on terminology

[Dozer D]

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.

 

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[flinthunter]

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.

 

[ArkieBassMan]

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.

 

[XtreasureX]

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.