Precious-metal value
Weight, purity and spot price establish an indicative metal value. Fabrication, denomination, condition, scarcity, brand, transaction size and dealer spread explain why a real item may trade above or below it.
Melt value is a calculation. A transaction price is a market decision.
Precious metals are commonly quoted per troy ounce. Convert grams, pennyweights or avoirdupois ounces before applying price.
Multiply gross weight by purity to estimate fine-metal weight. A 90% silver coin and a .999 bar require different calculations.
Retail premiums compensate for fabrication, distribution, inventory and demand. Buy and sell prices differ because a market maker must manage risk and resale costs.
Some coins trade primarily as collectibles. Date, mint, grade and rarity can overwhelm their underlying metal value.
Decision checklist
Primary references
Use original records and recognized standards. Third-party summaries should never replace the issuing organization.
NCF perspective