Precious-metal coins carry two different values, and most sellers only know about one of them. Understanding both is the difference between a fair deal and a costly one.
Every gold or silver coin is worth one of two things — whichever is higher:
Melt value (also called bullion value) is the coin's worth purely as metal. Take the current spot price of gold or silver, multiply by how much precious metal the coin actually contains, and that's the melt value. It's the price floor: a precious-metal coin is essentially never worth less than this.
Numismatic value is the coin's worth to collectors — driven by rarity, date, mint mark, condition, and demand. For scarce coins this can be many times the melt value. For common, worn coins it may be nothing extra at all.
A fair buyer prices a coin at the greater of the two. The mistake sellers make is assuming everything is "just silver" and selling a key date for scrap — or, the opposite, assuming common coins are rare treasures. Knowing which value applies to which coin is the whole game.
For US coins, a few simple rules cover the vast majority of precious-metal pieces.
The 1964 line. US dimes, quarters, half dollars, and dollars dated 1964 or earlier are 90% silver. From 1965 onward, dimes and quarters switched to copper-nickel and contain no silver.
40% silver Kennedy halves. Kennedy half dollars from 1965 to 1970 are a special case — they're 40% silver, less than the older 90% coins but still worth a melt premium.
War nickels. Jefferson nickels made from 1942 to 1945 contain 35% silver (look for a large mint mark above Monticello). Normal nickels have no silver.
Silver dollars. Morgan dollars (1878–1921) and Peace dollars (1921–1935) are 90% silver and among the most traded coins in the country.
Gold coins. Classic US gold — the $2.50, $5, $10, and $20 denominations struck before 1933 — is 90% gold. Modern American Gold Eagles and Gold Buffalos are bullion coins sold for their gold content.
Melt value is just spot price multiplied by the coin's actual metal weight. Here's how much precious metal the most common US silver coins contain, measured in troy ounces.
| Coin | Composition | Silver content (troy oz) |
|---|---|---|
| Dime (1964 & earlier) | 90% silver | about 0.0723 |
| Quarter (1964 & earlier) | 90% silver | about 0.1808 |
| Half dollar (1964 & earlier) | 90% silver | about 0.3617 |
| Kennedy half (1965–1970) | 40% silver | about 0.1479 |
| Silver dollar (Morgan / Peace) | 90% silver | about 0.7734 |
| War nickel (1942–1945) | 35% silver | about 0.0563 |
To estimate melt value, multiply the silver content by the current silver spot price. A 90% silver quarter, for example, holds roughly 0.18 troy ounces of silver — so its melt value is about 0.18 times whatever silver is trading at that day. Gold coins work the same way using their gold weight and the gold spot price. Spot prices change constantly, so always check the current figure before you sell.
Melt value is the floor, not the ceiling. A coin can be worth far more than its metal when:
It's a key date. Certain date-and-mint combinations are scarce and command large premiums regardless of metal content. A common Morgan dollar trades near melt; a key-date Morgan can be worth many times that.
It's in high grade. An uncirculated or near-perfect coin can be worth a strong multiple of a worn example of the exact same coin.
It's a proof or special strike. Proof coins and special collector issues carry premiums above their metal value.
This is exactly why you should never sell precious-metal coins purely by weight without checking dates first. If you're unsure, get them looked at — our guide to coin values and appraisal guide walk through how to find out.
For most sellers, a reputable local coin shop is the safest and simplest place to sell precious-metal coins. Coin dealers understand both sides of the equation — they price bullion at a fair percentage of spot and they recognize numismatic coins that deserve more. That combination is exactly what a generic gold buyer can't offer.
CoinsNearMe lists verified coin shops across the US and Canada. Look for listings tagged Bullion and Buy/sell, find the shops in your area, and take your coins to more than one before you decide.
Browse verified coin shops near you. Many buy bullion and precious-metal coins at fair, transparent prices.
Find a coin shop near you →How do I know if my US coins are real silver? For US coins, the key date is 1964. Dimes, quarters, half dollars, and dollars dated 1964 or earlier are 90% silver. Kennedy half dollars from 1965 to 1970 are 40% silver. Jefferson nickels made from 1942 to 1945 (war nickels) are 35% silver. Most other circulating US coins after 1964 contain no silver.
What is melt value? Melt value, also called bullion value, is what a coin is worth purely for its metal. It's calculated by multiplying the current spot price of gold or silver by the coin's actual metal weight. It sets the price floor for any precious-metal coin — a coin is essentially never worth less than its melt value.
Should I sell silver coins for melt value? For common-date, worn silver coins, melt value is the right basis, and a fair buyer pays a percentage of melt close to the going market. But check dates and condition first — key dates and high-grade coins can be worth far more than their silver, and you don't want to sell a rare coin for scrap.
Where can I sell gold coins safely? A reputable local coin shop is the safest route for most sellers. Coin dealers know the difference between bullion and numismatic gold and price both. Avoid generic "cash for gold" buyers and pawn shops, which usually pay melt value or less and ignore any collector premium.
Are my coins worth more than the metal they contain? Sometimes. A coin is worth the greater of its melt value or its numismatic value. Common, worn coins are usually worth melt. Key dates, scarce mint marks, high grades, and proof coins can be worth a large multiple of their metal content. Have anything you're unsure about checked before selling.