How melt value is calculated
Pure metal (g) = coin weight (g) × fineness
Melt value = pure metal (g) × today’s rate per gram × number of coins
Example: a British India silver rupee weighs 11.66 g at 0.917 fine → 10.69 g of pure silver. At ₹95 per gram, that is about ₹1,016 of silver.
Melt value vs collector value
Melt value is a floor, not a price. Rare dates, mint marks, low mintages and better condition can make a coin worth many times its metal. Common worn coins usually sell close to melt value plus a small premium. Before selling, check the date and mint mark in a catalogue and compare recent auction results.
Never clean old coins
Polishing or cleaning removes the original surface and toning, and can halve a collectible coin’s value. Handle coins by the edges and store them in acid-free holders.
Buying and selling in India
Dealers buying for melt typically pay a little below the spot rate; buying bullion coins costs a premium over spot plus GST (3% on gold and silver bullion). Antiquities more than 100 years old may be covered by the Antiquities and Art Treasures Act; very old coins of historical importance may need registration and cannot be exported.
Questions people ask
How much silver is in a 1940s rupee?
Is a 1 oz coin 28 grams?
Should I sell old silver coins for melt?
Sources
- Reserve Bank of India Monetary Museum — coinage of British India
- Standard coin specifications from mint references
Weights and fineness are standard mint specifications; worn coins weigh slightly less. This tool does not fetch live metal rates. Last reviewed: November 2026.