Melt Value vs. Numismatic Value — What You Need to Know
Every coin has at least a melt value — the intrinsic value of the metal it contains. Some coins have an additional numismatic (collector) premium that can far exceed the metal content. Understanding this distinction determines which coins to appraise carefully and which can be weighed out.
The floor value of any coin — calculated as weight × purity × spot price. A 1 oz American Gold Eagle contains 0.9167 oz of pure gold. At $3,200/oz spot, its melt value is approximately $2,934. Bullion coins like Eagles and Maple Leafs typically sell at melt value plus a small dealer premium of 3–8%.
The collector value above melt. Driven by rarity (low mintage, key dates), condition (grade on the Sheldon scale, MS-70 being perfect), and market demand. A 1921 Morgan Dollar in MS-65 condition may be worth $400+ despite a melt value of ~$22. Pre-1933 gold coins regularly trade at 20–200% above melt.
Coins graded and encapsulated by PCGS or NGC carry a verifiable grade and are more liquid. A certified MS-65 Morgan commands a higher and more predictable premium than the same coin raw. We assess both certified and uncertified coins — raw coins are evaluated by our team on inspection.
Modern government-minted bullion coins (American Gold Eagle, Maple Leaf, Krugerrand, Vienna Philharmonic) are priced almost entirely on metal content. The spread between buy and sell is tight. These are the most straightforward coins to sell — fast appraisal, clear pricing.
Gold Coins & Bullion We Buy — Price Ranges
Prices below are based on current spot gold (~$3,300/oz) and represent typical offers for bullion-grade coins. Collector premiums for rare dates and high grades are assessed separately.
| Coin | Purity | Typical Offer | Notes |
|---|---|---|---|
| American Gold Eagle (1 oz) | .9167 (22K) | ~$3,200–$3,500 | Most widely traded U.S. gold coin. Bullion versions trade close to spot. Proof versions in original packaging command 5–15% collector premium. |
| South African Krugerrand (1 oz) | .9167 (22K) | ~$3,200–$3,450 | First modern gold bullion coin. Bullion editions trade at or near spot. Very liquid worldwide — strong demand from buyers. |
| Canadian Gold Maple Leaf (1 oz) | .9999 (24K) | ~$3,250–$3,500 | Highest purity mainstream bullion coin. MicroSecure feature on modern issues. Trades at a slight premium over Krugerrands due to 24K purity. |
| Vienna Gold Philharmonic (1 oz) | .9999 (24K) | ~$3,250–$3,500 | Austria's official bullion coin. 24K fine gold. Popular with European collectors. Strong liquidity globally. |
| American Buffalo (1 oz) | .9999 (24K) | ~$3,250–$3,550 | U.S. Mint's first 24K gold coin. Proof versions with original box and COA carry collector premiums. Bullion versions trade near spot. |
| Pre-1933 U.S. Gold Coins | .9000 (21.6K) | Varies widely | Double Eagles ($20), Eagles ($10), Half Eagles ($5). Melt value is the floor — numismatic premiums can be substantial for key dates, high grades, or rare mint marks. |
Price ranges based on spot gold ~$3,300/oz, May 2026. Actual offers depend on current spot price at time of transaction. Fractional coins (1/2 oz, 1/4 oz, 1/10 oz) are purchased pro-rata.
Silver Coins We Buy — Miami
Silver coin prices below are based on spot silver (~$33/oz). Morgan and Peace Dollars in collectible grades are assessed for numismatic value in addition to melt.
| Coin | Purity | Typical Offer | Notes |
|---|---|---|---|
| American Silver Eagle (1 oz) | .999 | ~$32–$40 | Most popular silver bullion coin. Bullion editions near spot + small premium. Proof versions in original packaging worth 20–50% more. |
| Morgan Dollar (1878–1921) | .900 | ~$20–$25 melt | Most widely collected U.S. silver coin. Common dates trade at melt + small numismatic premium. Key dates (1893-S, 1895-O, 1889-CC) can be worth $500–$50,000+ based on grade. |
| Peace Dollar (1921–1935) | .900 | ~$20–$25 melt | Designed by Anthony de Francisci. Less collected than Morgan but solid demand. Key date 1921 commands significant premium. High-grade examples valuable. |
| Pre-1965 U.S. 90% Silver ('Junk Silver') | .900 | ~$16–$20/oz content | Dimes, quarters, halves minted before 1965 contain 90% silver. Often sold by the bag or face value. Very liquid — easy to appraise based purely on weight. |
| Canadian Silver Maple Leaf (1 oz) | .9999 | ~$30–$38 | Highest purity silver bullion coin. MicroEngrave security feature on modern issues. Global liquidity strong. |
Price ranges based on spot silver ~$33/oz, May 2026. Key-date Morgan and Peace Dollars with numismatic premiums are assessed separately at appraisal.
Gold Bars and Bullion — What We Accept
We purchase gold bars from all major mints and refiners. Bars with intact assay cards and tamper-evident packaging receive offers closest to spot. Bars without documentation are tested and weighed on-site.
PAMP Suisse, Credit Suisse, Valcambi, Perth Mint, Royal Canadian Mint, Argor-Heraeus, Engelhard (vintage), Johnson Matthey (vintage). Assay card adds $0–$30 premium depending on bar size.
1g, 2.5g, 5g, 10g, 1 troy oz, 50g, 100g, 10 troy oz, 1 kilo. All sizes purchased. Larger bars (10 oz+) may require a same-day appointment for large-cash transaction processing.
.9999 (24K) is standard for investment bars. .9990 bars are also purchased. Older bars may vary — tested on-site with XRF spectrometer.
We also purchase silver bars (1 oz to 100 oz) from recognized refiners, and platinum bars. Offers based on current spot price and bar condition.
Tested on-site. If the bar is from a recognized refiner and tests correctly, the offer is within 1–2% of a carded bar. Unbranded or unknown bars are purchased based on purity test results.
How to Sell Coins and Bullion at Iron Eagle Reserve
Walk in with your coins or bars at 174 E Flagler St, Downtown Miami. The appraisal takes 20–40 minutes depending on the size and complexity of your collection.
Open Mon–Sat 9AM–8PM. Bring all coins loose, in folders, in slabs, or in tubes — whatever you have. Original packaging and documentation (certificates, receipts) should come along.
We identify each coin by date, mint mark, and type. Certified (PCGS/NGC) coins are verified against population reports. Raw coins are graded visually by our team. Bullion coins are weighed and tested for purity with our XRF spectrometer if unmarked.
Bullion coins receive an offer based on current spot price plus standard dealer premium. Collectible dates are looked up against current market data — PCGS price guides, recent auction results, and grey sheet. You'll receive a clear breakdown of what's bullion and what's numismatic.
Accept the offer and walk out with cash. Large transactions (over $10,000) may involve a brief identification process per federal requirements. We can also provide wire transfer for very large purchases if preferred.
What to Bring — Maximize Your Offer
Bring everything — even pieces you're unsure about. Common dates have melt value; you may have a key date you didn't know about. We assess the full collection, not just the obvious pieces.
Mint tubes, original boxes, velvet rolls, and presentation cases all signal proper storage and add to collector appeal. Bullion bars should come with assay cards if available.
Do not remove coins from certified holders. The holder and grade are part of the value. A broken slab turns a graded coin into a raw coin and reduces the offer.
Purchase receipts, certificates of authenticity, and prior appraisals help us understand provenance and confirm grade claims. Not required, but useful for rare or expensive pieces.
If you have many coins, sending photos via WhatsApp before visiting allows us to prepare spot price calculations and flag any obvious key dates in advance.
Gold Coins · Silver Coins · Gold Bars · Silver Bars · Pre-1933 Collectibles
Frequently Asked Questions
Iron Eagle Reserve at 174 E Flagler St, Downtown Miami, buys gold coins including American Gold Eagles, Krugerrands, Canadian Maple Leafs, and pre-1933 U.S. gold coins. Walk in Mon–Sat 9AM–8PM. Both melt value and numismatic premiums assessed on the spot.
A 1 oz American Gold Eagle is worth its gold content (0.9167 oz of fine gold) plus a bullion premium. At current spot prices, a 1 oz AGE typically receives $3,200–$3,500. Proof versions in original packaging may carry additional collector premiums.
Yes. We buy American Silver Eagles, Morgan Dollars, Peace Dollars, pre-1965 U.S. 90% silver coins (junk silver), and Canadian Silver Maple Leafs. Key-date Morgans and high-grade specimens are assessed for numismatic value above melt.
Melt value is the intrinsic metal value — weight × purity × spot price. Numismatic value is the collector premium above melt based on rarity, date, grade, and demand. Common bullion coins trade near melt. Rare dates in high grades can be worth multiples of their metal content.
Yes. We purchase gold bars from major refiners — PAMP Suisse, Credit Suisse, Valcambi, Perth Mint, and others — in sizes from 1g to 1 kilo. Bars with intact assay cards receive the strongest offers. We also buy silver bars and platinum bullion.