Premium over spot

The premium over spot is the amount you pay above the raw metal value of a coin, round, or bar. If silver's spot is $30/oz and a 1 oz coin costs $34, the premium is $4 per ounce — the cost of minting, distribution, dealer margin, and demand.

How it's calculated

Premium = all-in price − (reference spot × weight in troy ounces). We measure it against an independent reference spot floor rather than the dealer's own spot, so a padded spot price can't disguise a fat premium.

What's a normal premium?

Premiums vary by product. Generic 1 oz rounds and bars usually carry the lowest premiums; government-minted coins like the American Silver Eagle carry more because of their recognizability and legal-tender status; fractional and collectible pieces carry the most. Premiums also move with demand — they spike when retail buying surges even if spot is flat.

Comparing premiums fairly

Always compare the same product, at the same quantity tier, using the all-in price. A lower advertised premium is meaningless if it's measured against an inflated spot. Each product page shows the honest premium over the reference floor, plus per-dealer spot inflation, so you can see the real cost. More detail on our methodology page.