British West Africa Silver Coin Melt Values - Live Calculator
The table below lists each denomination and computes live melt value from the current silver spot price of $66.45 per troy ounce.
| Coin | Face Value | Years | Fineness | Gross Weight (g) | ASW (g) | ASW (oz t) | Qty | Melt Value |
|---|---|---|---|---|---|---|---|---|
| Shilling | 1 | 1913 - 1920 | 0.925 | 5.66 | 5.24 | 0.1683 | $0.00 | |
| Shillings | 2 | 1913 - 1920 | 0.925 | 11.31 | 10.46 | 0.3364 | $0.00 | |
| Shillings | 2 | 1920 | 0.5 | 11.31 | 5.66 | 0.1818 | $0.00 | |
| Pence | 3 | 1913 - 1919 | 0.925 | 1.14 | 1.05 | 0.0339 | $0.00 | |
| Pence | 3 | 1920 | 0.5 | 1.14 | 0.57 | 0.0183 | $0.00 | |
| Pence | 6 | 1913 - 1919 | 0.925 | 2.83 | 2.62 | 0.0842 | $0.00 | |
| Pence | 6 | 1920 | 0.5 | 2.83 | 1.42 | 0.0455 | $0.00 | |
| Grand Total | $0.00 | |||||||
Country Silver Coin History
Historical Context
With the establishment of British control in the late 19th and early 20th centuries, British currency began to circulate in these territories. Initially, British coins were used alongside local currencies, creating a complex monetary environment.
To streamline transactions and establish a unified economic system, the British introduced the West African currency system, which included the issuance of silver coins specifically for use in the colonies.
Introduction of Silver Coins in British West Africa
The West African Currency Board (WACB) was established in 1912 to oversee the issuance and regulation of currency in British West Africa.
The WACB introduced the West African pound, which was pegged to the British pound sterling. The currency was divided into shillings and pence, similar to the British system.
The silver coins issued under the WACB included denominations such as the florin (2 shillings), the shilling, and the 6 pence. These coins featured designs that included the effigy of the reigning British monarch on the obverse and symbols representative of West Africa on the reverse.
Composition: The silver coins were minted with a composition of 92.5% silver (sterling silver) until 1920, after which the silver content was reduced to 50%.
Post World War II
After World War II, the rising cost of silver and economic changes led to a reevaluation of the use of silver in coinage. The British government and the WACB began to transition to more cost-effective metals for coinage.
By the late 1940s and early 1950s, silver coins were gradually replaced by coins made from base metals such as cupronickel and brass.
