Each coin contains 0.3617 troy ounces of silver * 100 coins = 36.17 troy ounces
36.17 * $39.17 (as of this post) is $1417.00 + / - a few cents so yeah ~ $100 under melt.

If I was not sitting on a ton of silver already I would be in my car with cash on the way to his house instead of typing this.

-Dave