Quick answer: The premium is how much you pay per troy ounce above the silver spot price. To find it, add up everything you pay (price, shipping and any card fee), divide by the total troy ounces of silver you get, then subtract today’s spot price. Enter a deal below and the calculator does the math at the live spot price.
- Total cost
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- Cost per oz
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- Premium per oz over spot
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- Premium %
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Spot price from a third-party feed (gold-api.com); informational only and may be delayed.
How is the premium over spot calculated?
The calculator uses four simple steps:
- Total cost = product price + shipping, plus the payment fee % on that amount.
- Total ounces = quantity × troy ounces per unit.
- Cost per ounce = total cost ÷ total ounces.
- Premium = cost per ounce − spot price. Premium % = premium ÷ spot price × 100.
For example, if ten 1 oz coins cost $650 with free shipping and no card fee, you pay $65.00 per ounce. With spot at $57.00, that’s an $8.00 premium per ounce, or about 14.0% over spot. These numbers are only an example, not current prices.
What’s a good premium for silver?
There’s no single “good” number, because premiums change with the product, the dealer and how much demand there is at the moment. A few patterns tend to hold:
- Bigger bars usually cost less over spot per ounce than 1 oz coins.
- Generic rounds and bars usually cost less over spot than government coins like the American Silver Eagle.
- Buying more at once often lowers the price per unit, and shipping and card fees can wipe out a “cheap” listing.
The best test is a same-day comparison: run the same product from two or three dealers through this calculator, including shipping and payment fees, and compare the cost per ounce. Lower premiums also matter when you sell, because you generally won’t get the premium back.
Related: Silver price today · Junk silver melt value calculator · Coins vs. rounds vs. bars
This calculator is for information only. Results depend on the numbers you enter and on a spot price that may be delayed. Check the final checkout total with the dealer before you buy. Not financial advice.