You find the silver spot price, then open a product page and see a higher number. That difference is the premium: the amount above the reference metal value that you pay for the finished product.
Compare the same amount of silver
Start with the listed fine silver content. A coin's total weight and its fine metal weight can differ, so use the specifications for that particular issue. Compare prices in the same currency and take the market quote at roughly the same time.
For an illustrative example, a coin containing one fine troy ounce priced at $35 against a $30 reference quote has a $5 premium, or about 16.7%. These numbers explain the calculation; they are not current prices.
Look at the delivered cost
Manufacturing, packaging and dealer costs contribute to retail pricing. Product availability can also affect an offer. A proof coin, a graded collectible and a standard bullion coin may carry different premiums even when their metal content is similar.
Add shipping, any payment charges and applicable taxes before comparing the final cost. If resale matters to you, ask what a dealer would pay for the same product today. A purchase premium is not a promise that a future buyer will pay it back.
Before ordering, check the product's weight, purity, condition and availability. Precious metal prices can fall, and selling costs can reduce what you receive.
