Premium over spot.

Answer

Premium over spot = what you paid minus the metal value at spot, then divided by the metal value for a percent. A 1 oz silver coin bought at $38.00 when spot is $32.50 carries a $5.50 premium, 16.9% over spot.

Worked example

Spot $32.50 per troy ounce, 10 coins of 1 oz at $38.00 each plus $15.00 shipping (an example, not a quote). Total paid 10 x $38.00 + $15.00 = $395.00. Metal value 10 x $32.50 = $325.00. Premium $70.00, which is 21.5% over spot or $7.00 per ounce. All-in cost $39.50 per ounce, so spot has to reach that level for the stack to melt for what you paid.

How it works

Metal value = troy ounces x spot. Premium = total paid - metal value. Premium % = premium / metal value x 100. Break-even spot = total paid / troy ounces. The break-even spot is the price at which the metal alone, ignoring any dealer buyback spread, equals what you spent.

What this is not. Premiums cover minting, distribution and dealer margin and move with demand. A buyer will not pay your premium back, so resale usually happens below your all-in price even when spot is unchanged. Spot is the figure you enter.

Sources and basis (checked 2026-10-05): Arithmetic on the definition of premium over spot; no external data is used. Spot price and purchase price are entered by you.

FAQ

What is a normal premium over spot?

There is no fixed number. It depends on the product, the quantity, the dealer and market conditions. Compare the all-in price per ounce from several dealers using this calculator.

How do I calculate premium over spot?

Divide the price paid per coin by its troy ounces, subtract spot, and divide that by spot for a percent.

What is the break-even spot price?

The spot price at which the metal in your coins is worth exactly what you paid in total, including shipping.

Does shipping count as premium?

Yes in this calculator, because it is part of what you paid for the metal. Leave the field empty to see the premium on the coin price alone.

Can I use it for gold?

Yes. Enter the gold spot price and the troy ounces of gold in each piece. Fractional coins hold less than one ounce, so enter 0.5, 0.25 or 0.1 as appropriate.