Are Copper Pennies Worth Saving? Metal Value, the Law and Reality
Pre-1982 copper pennies hold more metal than face value, but you can't legally melt them. Here's the math, the law and whether saving them …
Coin Melt Values & Silver Price Today
Markets closed: precious metals don’t trade on weekends, so prices show Friday, Nov 6’s close. Live updates resume Sunday evening (ET). Last checked ET
See what the metal in your coins is worth right now. Silver is $52.07 per ounce and gold $4,072.10, so a pre-1965 silver dime holds about $3.77 of silver and a Morgan dollar about $40.31.
Melt value of common US coins today
| Coin | Years | Metal content | Melt value | × face |
|---|---|---|---|---|
 Lincoln Memorial Copper Penny | 1959–1982 | 3.11 g · 95% copper | $0.0420 | 4.2× |
 Lincoln Zinc Penny | 1982–present | 2.5 g · Copper-plated zinc (97.5% zinc | $0.0107 | 1.1× |
 Jefferson Nickel | 1938–present (except 1942–1945 silver issues) | 5 g · 75% copper | $0.0729 | 1.5× |
 Jefferson War Nickel (35% silver) | 1942–1945 | 0.0563 oz silver | $2.97 | 59.4× |
 Roosevelt Dime (silver) | 1946–1964 | 0.0723 oz silver | $3.77 | 37.7× |
 Roosevelt Dime (clad) | 1965–present | 2.268 g · 91.67% copper | $0.0322 | 0.3× |
 Washington Quarter (silver) | 1932–1964 | 0.1808 oz silver | $9.43 | 37.7× |
 Washington Quarter (clad) | 1965–present | 5.67 g · 91.67% copper | $0.0805 | 0.3× |
 1964 Kennedy Half Dollar (90% silver) | 1964 | 0.3617 oz silver | $18.85 | 37.7× |
 Kennedy Half Dollar (40% silver) | 1965–1970 | 0.1479 oz silver | $7.80 | 15.6× |
 Morgan Silver Dollar | 1878–1904, 1921 | 0.7735 oz silver | $40.31 | 40.3× |
 Peace Silver Dollar | 1921–1935 | 0.7735 oz silver | $40.31 | 40.3× |
 $20 Saint-Gaudens Double Eagle | 1907–1933 | 0.9675 oz gold | $3,939.78 | 197.0× |
 American Silver Eagle (1 oz) | 1986–present | 0.9990 oz silver | $52.02 | 52.0× |
 American Gold Eagle (1 oz) | 1986–present | 1.0000 oz gold | $4,073.84 | 81.5× |
Melt value = metal content × today’s spot price. It is not what a dealer pays (usually less) or a collector’s price (often more).
See the full coin melt value chart for every US coin type from Indian Head pennies to pre-1933 gold.
Coin melt value calculator
Pick each coin and how many you have. Values update with the live spot price.
Melt $40.31
Melt $37.70
Melt $37.70
Total melt value—
Total face value—
Pure silver—
Pure gold—
Silver price chart (USD per troy oz)
Over the past 30 days, silver moved from $60.63 to $52.07 per troy ounce (-14.11%), with a high of $60.76 and a low of $49.75 (daily closes).
What is melt value?
Melt value (also called intrinsic or bullion value) is the market value of the metal a coin contains: its weight × the share of each metal × today’s spot price. It is the floor under a coin’s price, not what a collector might pay. Before 1965, US dimes, quarters and half dollars were 90% silver, so they are worth many times their face value today. Modern clad coins and pennies are worth roughly their face value or less in metal.
Junk silver: melt value per $1 face value
| Coins | Silver per $1 face | Melt per $1 face | × face |
|---|---|---|---|
| 90% silver dimes, quarters, halves (pre-1965) | 0.7150 oz | $37.23 | 37.2× |
| 40% silver Kennedy halves (1965–1970) | 0.2958 oz | $15.40 | 15.4× |
| Silver dollars (Morgan, Peace) | 0.7734 oz | $40.27 | 40.3× |
| 35% silver war nickels (per $1 = 20 coins) | 1.1252 oz | $58.59 | 58.6× |
$1 face value of 90% coins contains 0.7234 oz of silver when new; dealers use 0.715 oz to allow for wear.
Calculators
- Junk silver calculator – value pre-1965 coins by face value.
- Scrap gold calculator – 10K, 14K, 18K and 22K jewelry in grams or pennyweight.
- Scrap silver calculator – sterling flatware and jewelry.
- Bullion value calculator – bars and rounds.
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Coin & silver guides
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What Is Junk Silver? A Beginner’s Guide to 90% Silver Coins
Junk silver is worn pre-1965 US dimes, quarters and half dollars traded for their silver, not their collector value. Here's what counts and…
What Is Coin Melt Value and How Is It Calculated?
Melt value is what a coin's metal is worth at spot price. Here's the formula, worked examples and when melt, face or collector value wins.
Melt values are estimates based on spot prices and official coin specifications. Dealers usually pay less than melt; rare coins can be worth far more to collectors.
Frequently asked questions
How much is a silver dime worth today?
A pre-1965 90% silver dime contains 0.0723 troy ounces of silver, worth about $3.77 at today’s silver price of $52.07 per ounce (November 8, 2026).
How much is a Morgan silver dollar worth in silver?
A Morgan dollar contains 0.7734 troy ounces of silver, so its melt value today is about $40.31. Better dates and coins in high grades sell for more to collectors.
Are pennies worth more than one cent?
Copper pennies dated 1982 and earlier contain about $0.0420 of metal at today’s copper and zinc prices. Zinc pennies from 1982 on contain about $0.0107. Melting pennies for profit is illegal under federal rules.
Which US coins contain silver?
Dimes, quarters and half dollars dated 1964 or earlier are 90% silver. Kennedy halves from 1965–1970 are 40% silver, 1942–1945 “war nickels” are 35% silver, and Morgan and Peace dollars are 90% silver. Coins in circulation today contain no silver.
How often are prices updated?
Spot prices refresh automatically every few minutes while markets are open (Sunday evening to Friday afternoon, New York time). Nickel and zinc prices are monthly averages.