How Much Is My Silver Worth? A Simple Guide

"How much is my silver worth?" is one of the most common questions new stackers ask, and the answer is more interesting than a single number. There is the melt value — the raw metal content at today’s spot price — and then there is what you could actually buy or sell for, which premiums push in both directions.

The melt value formula

Melt value is straightforward once you have three inputs: weight in troy ounces, purity (fineness), and the current spot price per troy ounce.

• Melt value = weight (troy oz) × purity × spot price per troy oz.
• A one troy ounce .999 silver coin at $30 spot = 1 × 0.999 × $30 = $29.97.
• For sterling (.925), a 100 g piece = 3.2151 troy oz × 0.925 × spot.

Watch your units

Precious metals are priced per troy ounce, which is about 31.103 grams — heavier than the ordinary (avoirdupois) ounce of 28.35 grams. If your item is weighed in grams, convert to troy ounces first (grams ÷ 31.1035) or you will get the valuation wrong.

Why melt value is not the selling price

Melt value is the floor, not the market price. When you buy, you pay a premium over spot; when you sell to a dealer, you usually receive slightly under spot or a smaller premium. Recognisable government coins and junk silver tend to trade closer to spot and sell more easily; obscure rounds and bars can carry wider spreads. So the realistic value of your silver is melt value adjusted for the premium that specific product commands.

Let an app do it continuously

Doing this by hand for one coin is easy; doing it for a whole stack every time spot moves is not. BullionTally does the maths for you: enter each item’s weight and purity once, and it revalues your entire silver holding at live spot in your chosen currency — one of 153 — while keeping a record of what you actually paid. Your inventory stays on your device, so you get an accurate valuation without sending a list of your silver anywhere.