Would I be right in thinking, if the silver rate today is at $12.59 that a 1964 Kennedy melt should be $3.50 each or 6x its face value ?
Not quite. $12.59 X .36139 = approximately $4.56 melt value. http://www.coinflation.com/ is a useful link for determining silver value.
Maybe I'm reading the Red Book wrong (which is very possible) but I see the 1964 Kennedy as having .36169 oz of silver (page 196). This would be more like $4.55 for the melt value. 09s-V.D.B. you are too fast!
Regarless of what you read the actual melt value is what someone will pay you for a Silver coin. It they offer you $0.50 for a Silver 50cent coin, then that is what it really is worth.
Regardless of what you read, there is a difference between price and intrinsic value. Someone may offer you $0.50 for a silver 50 cent coin, but that isn't what it is worth.
I agree with that. But what I mean is at coin shows I seldom hear any dealers offering anyone even so called Silver Melt value. There is always that story of how I have to make a profit you know. That is what I ment by the value of a coin.
I understand that any person who makes a market in any item is entitled to a profit for providing the service, and the buyer and seller need to understand that this is how markets for everything work. But I don't think that price and value are the same thing.
No, dealers don't buy at melt... just as they won't buy your 1916D Mercury Dime at its full value. They will surely sell coins at melt though. I frequently buy Franklins, Mercs and common date Walking Liberties from my local dealer at melt value... currently paying about $9.00 to $1.00 face value... probably $9.50 by this weekend, though. I'm very happy to buy coins this way, from time to time there is an odd date or a coin in much better than average condition that finds its way into the bullion bucket. It's also very common to see rolls of silver coins selling on eBay and fetching prices equal to their melt value. If you sell directly to the end buyer, via eBay for example, it's very easy to get melt value.
