The premium is the amount you pay above the spot price when you buy a physical coin or bar. On 2026-10-14, a 1 oz American Silver Eagle was listed at $66.16 by SD Bullion against a spot reference of $58.39, a premium of about 13.3% (via bullion-compare.com). The table below loads every dealer price we checked.
Why premiums exist
Spot is the price for large wholesale amounts of metal, usually quoted for 1,000-ounce silver bars or 400-ounce gold bars traded between banks and big dealers. A one-ounce coin has extra costs on top: refining, minting, the government mint's own markup for sovereign coins like Eagles or Maple Leafs, shipping, insurance, and the dealer's margin. Those costs are spread over a smaller amount of metal, which is why small pieces carry bigger premiums than large bars.
Premiums also change with demand. When many people want to buy coins at once, dealers raise premiums and wait times grow. When demand cools, premiums usually fall. That's why people watch premiums as one signal of retail demand for physical metal, alongside COMEX inventory and deliveries.
What affects the premium you pay
- Product: government coins usually cost more than generic rounds or bars.
- Size: a 100 oz bar has a lower premium per ounce than a 1 oz coin.
- Payment method: many dealers charge less for bank wire or check than for card.
- Quantity: per-ounce prices often drop at higher order sizes.
- Selling back: dealers buy back at their own price, often near or below spot, so the spread between buying and selling matters too.
How we measure it
We take dealer prices from a public comparison site and compare each one with that site's spot reference at the same time, then show the dollar and percentage difference. Prices move all day, so treat these as a dated snapshot, not a quote. We don't recommend dealers, and this isn't advice on whether to buy.
Related: COMEX silver inventory · Gold/silver ratio · Gold & silver news
Sources
FAQ
What is a silver premium?
The amount above the spot price you pay for a physical silver product, covering minting, distribution and dealer costs.
Why are Silver Eagle premiums higher than bars?
Government-minted coins carry a mint markup and higher production costs per ounce than larger generic bars.