Actual silver weight

Actual silver weight, usually abbreviated ASW, refers to the weight of pure silver contained in a coin, measured in troy ounces.[1][2][3]

American Silver Eagle coin, ASW = 1.00

Coin collectors, individuals who invest in bullion coins, and others often refer to books or online reference websites to determine the intrinsic value of a silver coin. Such resources list various coins with their associated ASW.[4] When one knows the actual silver weight of a coin, one can then multiply that number by the spot price of silver to determine the melt value of a silver coin.

How to calculate a coin's actual silver weight (ASW)
  1. Determine the coin's weight in grams by consulting a coin collecting book or online guide or by weighing the coin yourself with a precision scale, i.e., a scale made to weigh coins or jewelry.
  2. Determine the coin's fineness, which is given as a percentage of silver in the coin, by consulting a coin collecting book or Internet guide.
  3. Multiply the coin's total weight times the fineness (expressed as a decimal). This product is the amount of pure silver in the coin expressed in metric units (grams).
  4. Multiply that number times 0.0321507 oz t (3.21 one-hundredths of a troy ounce), which is the weight of one gram expressed in troy ounces, i.e., 1.00 g = 0.0321507 oz t. This product is the amount of pure silver in the coin expressed in troy units.

How to calculate the current intrinsic value of a silver coin

The intrinsic value (also known as melt value) of a silver coin can be determined by multiplying the ASW (actual silver weight) for the coin times the current spot price of silver. Note that silver prices vary daily, therefore one must consult a bank or an online source for the current spot price.

Example
1953-D Roosevelt dime, ASW = 0.07234 oz t

The composition of Roosevelt dimes from 1946-1964 was 90% silver and 10% copper, and the coin weighs 2.50 grams.[5] Following the steps listed above, the ASW calculation proceeds as follows:

  1. Determine the coin's weight in grams: 2.50 g
  2. Determine the fineness: 0.900
  3. Multiply the coin's total weight times the fineness: 2.5 g × 0.900 = 2.25 g
  4. Multiply that number times 0.0321507, which is the troy ounce equivalent for one gram: 0.0321507 × 2.25 = 0.072339075 oz t

Thus, a general circulation Roosevelt dime minted before 1965 has an actual silver weight (ASW) of 0.072339075 troy ounce. If the spot price of silver was $15.00 per troy ounce, the intrinsic value of a pre-1965 Roosevelt dime would be: 0.072339075 × 15.00 = $1.085086125 ≈ $1.09. (Note that coin stores, pawn shops, and bullion retailers will not necessarily purchase coins from consumers at the intrinsic value because of the costs involved with selling such coins to companies that melt the coins, separate the constituent metals, and prepare the silver for resale.)

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References
  1. Michael, Thomas (29 June 2017). 2018 Standard Catalog of World Coins, 1901-2000 | Krause Books. Krause Publications. p. 10. ISBN 978-1440247972. Retrieved 3 July 2017. The simplest method for determining the bullion value of a precious metal coin is to multiply the actual precious metal weight by the current spot price for that metal. Using the example above, a silver coin with a .6822 actual silver weight (ASW) would have an intrinsic value of $12.25 when the spot price of silver is $17.95.
  2. Headley, Susan. "What is A.S.W. (Actual Silver Weight)?". The Spruce. Dotdash (formerly About.com). Retrieved 3 July 2017. The ASW (sometimes written as a.s.w. or asw) is the Actual Silver Weight of a coin. The ASW is expressed as a decimal value of one full Troy ounce of silver. For example, a coin that has an ASW equal to 0.18084 means that the coin has 0.18084 of a Troy ounce of pure silver in it.
  3. Alan, Herbert (2010). Warman's U.S. coin collecting : easy-to-understand advice for buying & selling, storage & care, grading. Krause Publications. p. 180. ISBN 9781440213687. OCLC 776876676. Q: What do the abbreviations ASW and AGW stand for? A: Actual silver weight or actual gold weight. There's a third one - APW - for actual platinum weight. In all three cases the figure refers to the actual weight of the bullion metal, not the total weight of the coin.
  4. "U.S. Silver Coin Melt Values | Silver Dollar Melt Value | NGC". www.ngccoin.com. Numismatic Guarantee Corporation (NGC). Retrieved 3 July 2017. This page shows the intrinsic metal values of U.S. Silver Coins, commonly referred to as their melt values. During market hours, melt values of silver coins shown on this page are updated approximately every 15 minutes. ... The table below shows melt values for commonly collected silver dollars, half-dollars, dimes and quarters. ... A coin's numismatic or collector value may be higher than its melt value.
  5. A guide book of United States coins, deluxe edition ('mega red'). Bresset, Kenneth; Bowers, Q. David; & Garrett, Jeff (2 ed.). Whitman. 2017. p. 694. ISBN 0794843921. OCLC 926062081.CS1 maint: others (link)
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