1. What is Melt Value?

The melt value is the intrinsic metal value of a coin based on its weight, purity, and current spot price of the metal. It represents the minimum value of the coin if it were to be melted down for its metal content.

2. How the Calculator Works

The calculator uses the melt value formula:

Where:

• \( \text{Weight} \) — Weight in troy ounces (1 troy oz = 31.1035 grams)
• \( \text{Purity} \) — Silver content as a fraction (e.g., 0.999 for 99.9% pure)
• \( \text{Spot Price} \) — Current market price of silver per troy ounce

Explanation: The formula calculates the actual silver content value, excluding any numismatic or collectible value the coin may have.

3. About Australian Silver Coins

Details: Australian silver coins like the Kangaroo, Kookaburra, and Koala are typically minted with high purity (99.9% silver). Their weights vary from 1/2 oz to 1 kg sizes.

4. Using the Calculator

Tips: Enter the coin's weight in troy ounces, its purity as a decimal (e.g., 0.999 for 99.9%), and the current silver spot price per troy ounce. All values must be positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: Where can I find the current silver spot price?
A: Check financial news websites, precious metal dealers, or commodity exchange websites for live silver prices.

Q2: How do I know my coin's weight and purity?
A: Most coins have this information stamped on them. For Australian coins, 1 oz coins typically weigh 31.1035g (1 troy oz) at 99.9% purity.

Q3: Does this value include numismatic premium?
A: No, this calculates only the metal value. Rare or collectible coins may be worth significantly more than their melt value.

Q4: Why use troy ounces instead of regular ounces?
A: Precious metals are traditionally measured in troy ounces (31.1035g) rather than avoirdupois ounces (28.3495g).

Q5: How accurate is this calculation?
A: The calculation is mathematically precise, but the actual value depends on accurate weight measurement and current spot price.